<SEC-DOCUMENT>0001171843-20-003101.txt : 20200430
<SEC-HEADER>0001171843-20-003101.hdr.sgml : 20200430
<ACCEPTANCE-DATETIME>20200430114810
ACCESSION NUMBER:		0001171843-20-003101
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		184
CONFORMED PERIOD OF REPORT:	20191231
FILED AS OF DATE:		20200430
DATE AS OF CHANGE:		20200430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TENARIS SA
		CENTRAL INDEX KEY:			0001190723
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31518
		FILM NUMBER:		20834065

	BUSINESS ADDRESS:	
		STREET 1:		26, BOULEVARD ROYAL, 4TH FLOOR
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2449
		BUSINESS PHONE:		1-888-300-5432

	MAIL ADDRESS:	
		STREET 1:		26, BOULEVARD ROYAL, 4TH FLOOR
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2449
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>f20f_033120p.htm
<DESCRIPTION>FORM 20-F
<TEXT>
<HTML><HEAD>
     <TITLE></TITLE>
</HEAD><BODY STYLE="font: 10pt Times New Roman, Times, Serif">







<p style="margin: 0">&nbsp;</p>

<p style="margin: 0">&nbsp;</p>

<!-- Field: Rule-Page --><div style="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Washington, D.C. 20549</b></p>

<!-- Field: Rule-Page --><div style="margin: 9pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>FORM 20-F</b></p>

<!-- Field: Rule-Page --><div style="margin: 9pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>(Mark One)</b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.45pt"><font style="font-size: 12pt">&#9744;</font></td><td><font style="font-size: 12pt"><b>Registration statement pursuant
                                         to Section&nbsp;12(b) or 12(g) of the Securities Exchange Act of 1934</b></font></td></tr></table>

<p style="padding-top: 6pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; padding-bottom: 6pt"><b>or </b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.45pt"><font style="font-size: 12pt">&#9746;</font></td><td><font style="font-size: 12pt"><b>Annual report pursuant to
                                         Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</b></font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding-top: 6pt; text-align: center; padding-bottom: 6pt"><b>for the fiscal year ended December&nbsp;31,
2019</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: center"><b>or </b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.45pt"><font style="font-size: 12pt">&#9744;</font></td><td><font style="font-size: 12pt"><b>Transition report pursuant
                                         to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</b></font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding-top: 6pt; text-align: center; padding-bottom: 6pt"><b>or </b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.45pt"><font style="font-size: 12pt">&#9744;</font></td><td><font style="font-size: 12pt"><b>Shell company report pursuant
                                         to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</b></font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&nbsp;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Commission file number: 001-31518</b></p>

<!-- Field: Rule-Page --><div style="margin: 9pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>TENARIS S.A. </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(Exact name of Registrant as specified
in its charter)</b></p>

<!-- Field: Rule-Page --><div style="margin: 9pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>N/A</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 9pt; text-align: center"><font style="font-size: 8pt"><b>(Translation
of Registrant&#8217;s name into English)</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Grand Duchy of Luxembourg</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 9pt; text-align: center"><font style="font-size: 8pt"><b>(Jurisdiction
of incorporation or organization)</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>26, Boulevard Royal &#8211; 4<sup>th</sup>
Floor</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>L-2449 Luxembourg</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 9pt; text-align: center"><font style="font-size: 8pt"><b>(Address
of principal executive offices)</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Javier Cayzac</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>26, Boulevard Royal &#8211; 4<sup>th</sup>
Floor</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>L-2449 Luxembourg</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Tel. + (352)&nbsp;26 47 89 78, Fax. +
(352)&nbsp;26 47 89 79, e-mail: investors@tenaris.com</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>(Name,
Telephone, E-Mail and/or Facsimile number and Address of Company Contact Person)</b></font></p>

<!-- Field: Rule-Page --><div style="margin: 9pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<!-- Field: Page; Sequence: 1 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Securities registered or to be registered
pursuant to Section&nbsp;12(b) of the Act: </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 48%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Title
        of Each Class</b></font></p>
</td>
    <td style="width: 4%"><font style="font-size: 8pt">&nbsp;</font></td>
    <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 48%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Name
        of Each Exchange On Which Registered</b></font></p>
</td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt"><b>American Depositary Shares</b></font></td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt"><b>New York Stock Exchange</b></font></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt"><b>Ordinary Shares, par value $1.00 per share</b></font></td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt"><b>New York Stock Exchange*</b></font></td></tr>
</table>
<!-- Field: Rule-Page --><div style="margin: 9pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 12.2pt"><b>*</b></td><td><b>Ordinary shares of Tenaris S.A. are not listed for trading but only in connection with the registration of American Depositary
Shares which are evidenced by American Depositary Receipts.</b></td></tr></table>
<!-- Field: Rule-Page --><div style="margin: 9pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Securities registered or to be registered
pursuant to Section&nbsp;12(g) of the Act:</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 9pt; text-align: center"><b>None</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Securities for which there is a reporting
obligation pursuant to Section&nbsp;15(d) of the Act:</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>None</b></p>

<!-- Field: Rule-Page --><div style="margin: 9pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 6pt">Indicate the number of outstanding shares of each of the issuer&#8217;s
classes of capital or common stock as of the close of the period covered by the annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>1,180,536,830 ordinary shares, par value
$1.00 per share</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is a well-known seasoned
issuer, as defined in Rule 405 of the Securities Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this report is an annual or transition report, indicate by
check mark if the registrant is not required to file reports pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act
of 1934.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;
&#9746;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note &#8211; checking the box above will not relieve any registrant
required to file reports pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under
those Sections.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant (1)&nbsp;has filed
all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to such filing
requirements for the past 90 days.&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant
to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of &#8220;large accelerated
filer,&#8221; &#8220;accelerated filer,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act (Check
one):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 34%"><font style="font-size: 10pt">Large accelerated filer&nbsp;&nbsp;&#9746;</font></td>
    <td style="text-align: center; width: 33%"><font style="font-size: 10pt">Accelerated Filer&nbsp;&nbsp;&#9744;</font></td>
    <td style="text-align: right; width: 33%"><font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-accelerated filer &nbsp;&nbsp;&#9744;</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-size: 10pt">Emerging growth company&nbsp;&nbsp;&#9744;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company that prepares its financial statements
in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards&#8224; provided pursuant to Section 13(a) of the Exchange Act.
&#9744;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8224; The term &#8220;new or revised financial accounting
standard&#8221; refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification
after April 5, 2012.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark which basis of accounting the registrant
has used to prepare the financial statements included in this filing:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="padding-left: 20pt; width: 20%"><font style="font-size: 10pt">U.S.&nbsp;GAAP&nbsp;&nbsp;&#9744;</font></td>
    <td style="text-align: left; width: 60%"><font style="font-size: 10pt">International Financial Reporting Standards as issued by the International Accounting Standards Board&nbsp;&#9746;</font></td>
    <td style="text-align: right; width: 20%"><font style="font-size: 10pt">	Other&nbsp;&nbsp;&#9744;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If &#8220;Other&#8221; has been checked in response to the previous
question indicate by check mark which financial statement item the registrant has elected to follow.&nbsp;&nbsp;&nbsp;&nbsp;Item
17&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;Item 18&nbsp;&nbsp;&#9744;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this is an annual report, indicate by check mark whether
the registrant is a shell company (as defined in Rule&nbsp;12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;
&#9746;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><i>Please send copies of notices and communications
from the Securities and Exchange Commission to:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Cristian J. P. Mitrani</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Mitrani, Caballero &amp; Ruiz Moreno
        Abogados</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Bouchard 680, 13th Floor</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(C1106ABJ) Buenos Aires, Argentina</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(54 11) 4590-8600</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p></td>
    <td style="width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Robert S. Risoleo, Esq.</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Sullivan &amp; Cromwell LLP</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>1700 New York Avenue N.W., Suite 700</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Washington, DC 20006-5215</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(202) 956-7500</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p></td></tr>
</table>
<!-- Field: Rule-Page --><div style="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><div style="font-size: 1pt; border-top: black 0.75pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<!-- Field: Rule-Page --><div style="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 3 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>TABLE OF CONTENTS </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="width: 9%">&nbsp;</td>
    <td style="width: 87%">&nbsp;</td>
    <td style="width: 4%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 12pt; text-indent: -12pt"><a href="#a_001"><font style="font-size: 10pt">PART I</font></a></td>
    <td style="padding-left: 12pt; text-indent: -12pt">&nbsp;</td>
    <td style="text-align: right; padding-left: 12pt"><a href="#a_001">7</a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_002"><font style="font-size: 10pt">Item&nbsp;1.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_002"><font style="font-size: 10pt">Identity of Directors, Senior Management and Advisers	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_002">7</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_003"><font style="font-size: 10pt">Item&nbsp;2.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_003"><font style="font-size: 10pt">Offer Statistics and Expected Timetable	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_003">7</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_004"><font style="font-size: 10pt">Item&nbsp;3.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_004"><font style="font-size: 10pt">Key Information	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_004">8</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_005"><font style="font-size: 10pt">Item&nbsp;4.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_005"><font style="font-size: 10pt">Information on the Company	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_005">18</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_006"><font style="font-size: 10pt">Item&nbsp;4A.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_006"><font style="font-size: 10pt">Unresolved Staff Comments	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_006">45</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_007"><font style="font-size: 10pt">Item&nbsp;5.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_007"><font style="font-size: 10pt">Operating and Financial Review and Prospects	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_007">45</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_008"><font style="font-size: 10pt">Item&nbsp;6.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_008"><font style="font-size: 10pt">Directors, Senior Management and Employees	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_008">65</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_009"><font style="font-size: 10pt">Item&nbsp;7.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_009"><font style="font-size: 10pt">Major Shareholders and Related Party Transactions	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_009">74</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_010"><font style="font-size: 10pt">Item&nbsp;8.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_010"><font style="font-size: 10pt">Financial Information	</font></a></td>
    <td style="white-space: nowrap; vertical-align: bottom; text-align: right"><a href="#a_010">76</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_011"><font style="font-size: 10pt">Item&nbsp;9.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_011"><font style="font-size: 10pt">The Offer and Listing	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><A HREF="#a_011">80</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_012"><font style="font-size: 10pt">Item&nbsp;10.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_012"><font style="font-size: 10pt">Additional Information	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><A HREF="#a_012">81</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_013"><font style="font-size: 10pt">Item&nbsp;11.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_013"><font style="font-size: 10pt">Quantitative and Qualitative Disclosure About Market Risk	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_013">93</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_014"><font style="font-size: 10pt">Item&nbsp;12.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_014"><font style="font-size: 10pt">Description of Securities Other Than Equity Securities	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_014">95</a></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2" style="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><a href="#a_015"><font style="font-size: 10pt">PART II	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_015">96</a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_016"><font style="font-size: 10pt">Item&nbsp;13.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_016"><font style="font-size: 10pt">Defaults, Dividend Arrearages and Delinquencies	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_016">96</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_017"><font style="font-size: 10pt">Item&nbsp;14.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_017"><font style="font-size: 10pt">Material Modifications to the Rights of Security Holders and Use of Proceeds	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_017">96</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_018"><font style="font-size: 10pt">Item&nbsp;15.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_018"><font style="font-size: 10pt">Controls and Procedures	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_018">96</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_019"><font style="font-size: 10pt">Item&nbsp;16A.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_019"><font style="font-size: 10pt">Audit Committee Financial Expert	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_019">97</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_020"><font style="font-size: 10pt">Item&nbsp;16B.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_020"><font style="font-size: 10pt">Code of Ethics	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_020">98</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_021"><font style="font-size: 10pt">Item&nbsp;16C.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_021"><font style="font-size: 10pt">Principal Accountant Fees and Services	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_021">98</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_022"><font style="font-size: 10pt">Item&nbsp;16D.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_022"><font style="font-size: 10pt">Exemptions from the Listing Standards for Audit Committees	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_022">99</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_023"><font style="font-size: 10pt">Item&nbsp;16E.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_023"><font style="font-size: 10pt">Purchases of Equity Securities by the Issuer and Affiliated Purchasers	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_023">99</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_024"><font style="font-size: 10pt">Item&nbsp;16F.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_024"><font style="font-size: 10pt">Change in Registrant&#8217;s Certifying Accountant	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_024">100</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_025"><font style="font-size: 10pt">Item&nbsp;16G.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_025"><font style="font-size: 10pt">Corporate Governance	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_025">100</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_026"><font style="font-size: 10pt">Item&nbsp;16H.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_026"><font style="font-size: 10pt">Mine Safety Disclosure	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_026">102</a></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2" style="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><a href="#a_027"><font style="font-size: 10pt">PART III	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_027">103</a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_028"><font style="font-size: 10pt">Item&nbsp;17.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_028"><font style="font-size: 10pt">Financial Statements	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_028">103</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_029"><font style="font-size: 10pt">Item&nbsp;18.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_029"><font style="font-size: 10pt">Financial Statements	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_029">103</a></td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.5in; text-indent: -12pt"><a href="#a_030"><font style="font-size: 10pt">Item&nbsp;19.</font></a></td>
    <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt"><a href="#a_030"><font style="font-size: 10pt">Exhibits	</font></a></td>
    <td style="text-align: right; white-space: nowrap; vertical-align: bottom"><a href="#a_030">103</a></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 4 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CERTAIN DEFINED TERMS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Unless otherwise specified or if the context so requires:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>References in this annual report to &#8220;the Company&#8221; are exclusively to Tenaris S.A., a Luxembourg <i>soci&#233;t&#233;
anonyme</i>.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>References in this annual report to &#8220;Tenaris&#8221;, &#8220;we&#8221;, &#8220;us&#8221; or &#8220;our&#8221; are to Tenaris
S.A. and its consolidated subsidiaries. See &#8220;II. Accounting Policies A. Basis of presentation&#8221; and &#8220;II. Accounting
Policies B. Group accounting&#8221; to our audited consolidated financial statements included in this annual report.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>References in this annual report to &#8220;San Faustin&#8221; are to San Faustin S.A., a Luxembourg <i>soci&#233;t&#233;
anonyme</i> and the Company&#8217;s controlling shareholder.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>&#8220;shares&#8221; refers to ordinary shares, par value $1.00, of the Company.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>&#8220;ADSs&#8221; refers to the American Depositary Shares, which are evidenced by American Depositary Receipts, and represent
two shares each.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>&#8220;OCTG&#8221; refers to oil country tubular goods. See Item&nbsp;4.B. &#8220;Information on the Company &#8211; Business
Overview &#8211; Our Products&#8221;.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>&#8220;tons&#8221; refers to metric tons; one metric ton is equal to 1,000 kilograms, 2,204.62 pounds, or 1.102 U.S. (short)
tons.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>&#8220;billion&#8221; refers to one thousand million, or 1,000,000,000.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>&#8220;U.S. dollars&#8221;, &#8220;US$&#8221;, &#8220;USD&#8221; or &#8220;$&#8221; each refers to the United States dollar.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>&#8220;EUR&#8221; refers to the Euro.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>&#8220;BRL&#8221; refers to the Brazilian real.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>&#8220;ARS&#8221; refers to the Argentine peso.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>PRESENTATION OF CERTAIN FINANCIAL AND OTHER INFORMATION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Accounting Principles</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We prepare our consolidated financial statements in accordance
with International Financial Reporting Standards (&#8220;IFRS&#8221;), as issued by the International Accounting Standards Board
(&#8220;IASB&#8221;), and in accordance with IFRS, as adopted by the European Union. IFRS differs in certain significant aspects
from generally accepted accounting principles in the United States, commonly referred to as U.S. GAAP. Additionally, this annual
report includes certain non-IFRS alternative performance measures such as EBITDA, Net cash/debt position and Free Cash Flow. See
Exhibit 7.2 for more details on these alternative performance measures.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following the sale in January 2017 of our steel electric conduit
business in North America, known as Republic Conduit, the results of Republic Conduit are presented as discontinued operations
in accordance with IFRS 5, &#8220;Non-current Assets Held for Sale and Discontinued Operations&#8221;. Consequently, all amounts
related to discontinued operations within each line item of the consolidated income statement are reclassified into discontinued
operations. The consolidated statement of cash flows includes the cash flows for continuing and discontinued operations; cash flows
and earnings per share from discontinued operations are disclosed separately in note 29 &#8220;Discontinued Operations&#8221; to
our audited consolidated financial statements included in this annual report, as well as additional information detailing net assets
of disposal group classified as held for sale and discontinued operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We publish consolidated financial statements presented in increments
of a thousand U.S. dollars. This annual report includes our audited consolidated financial statements for the years ended December&nbsp;31,
2019, 2018 and 2017. We completed the acquisition of IPSCO Tubulars Inc. (&#8220;IPSCO&#8221;) discussed elsewhere in this annual
report on January 2, 2020. Accordingly, the balance sheet and results of operations of IPSCO as of and for the year ended December
31, 2019, have not been reflected in our consolidated financial statements included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 5 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Rounding</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain monetary amounts, percentages and other figures included
in this annual report have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not
be the arithmetic aggregation of the figures that precede them, and figures expressed as percentages in the text may not total
100% or, as applicable, when aggregated may not be the arithmetic aggregation of the percentages that precede them.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Our Internet Website is Not Part of this Annual Report</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We maintain an Internet website at www.tenaris.com. Information
contained in or otherwise accessible through our Internet website is not a part of this annual report. All references in this annual
report to this Internet site are inactive textual references to these URLs, or &#8220;uniform resource locators&#8221; and are
for informational reference only. We assume no responsibility for the information contained on our Internet website.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Industry Data</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Unless otherwise indicated, industry data and statistics (including
historical information, estimates or forecasts) in this annual report are contained in or derived from internal or industry sources
believed by Tenaris to be reliable. Industry data and statistics are inherently predictive and are not necessarily reflective of
actual industry conditions. Such statistics are based on market research, which itself is based on sampling and subjective judgments
by both the researchers and the respondents, including judgments about what types of products and transactions should be included
in the relevant market. In addition, the value of comparisons of statistics for different markets is limited by many factors, including
that (i)&nbsp;the markets are defined differently, (ii)&nbsp;the underlying information was gathered by different methods and (iii)&nbsp;different
assumptions were applied in compiling the data. Such data and statistics have not been independently verified, and the Company
makes no representation as to the accuracy or completeness of such data or any assumptions relied upon therein.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This annual report and any other oral or written statements
made by us to the public may contain &#8220;forward-looking statements&#8221; within the meaning of and subject to the &#8220;safe
harbor&#8221; provisions of the Private Securities Litigation Reform Act of 1995. This annual report contains forward-looking statements,
including with respect to certain of our plans and current goals and expectations relating to Tenaris&#8217;s future financial
condition and performance.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sections of this annual report that by their nature contain
forward-looking statements include, but are not limited to, Item&nbsp;3. &#8220;Key Information&#8221;, Item&nbsp;4. &#8220;Information
on the Company&#8221;, Item&nbsp;5. &#8220;Operating and Financial Review and Prospects&#8221;, Item&nbsp;8. &#8220;Financial Information&#8221;
and Item&nbsp;11. &#8220;Quantitative and Qualitative Disclosure About Market Risk&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We use words and terms such as &#8220;aim&#8221;, &#8220;will likely
result&#8221;, &#8220;will continue&#8221;, &#8220;contemplate&#8221;, &#8220;seek to&#8221;, &#8220;future&#8221;, &#8220;objective&#8221;,
&#8220;goal&#8221;, &#8220;should&#8221;, &#8220;will pursue&#8221;, &#8220;anticipate&#8221;, &#8220;estimate&#8221;, &#8220;expect&#8221;,
&#8220;project&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;believe&#8221; and words and terms of similar substance
to identify forward-looking statements, but they are not the only way we identify such statements. All forward-looking statements
are management&#8217;s present expectations of future events and are subject to a number of factors and uncertainties that could
cause actual results to differ materially from those described in the forward-looking statements. These factors include the risks
related to our business discussed under Item&nbsp;3.D. &#8220;Key Information &#8211; Risk Factors&#8221;, including among them,
the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">the impact of the COVID-19 crisis and other pandemics on the world&#8217;s economy, the energy sector in general,
or our business and operations;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">our ability to implement our business strategy or to grow through acquisitions, joint ventures
and other investments;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">the competitive environment in our business and our industry;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">our ability to price our products and services in accordance with our strategy;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">our ability to absorb cost increases and to secure supplies of essential raw materials and energy;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">our ability to adjust fixed and semi-fixed costs to fluctuations in product demand;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">trends in the levels of investment in oil and gas exploration and drilling worldwide;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">general macroeconomic, political, social and public health conditions
and developments in the countries in which we operate or distribute pipes; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">changes to applicable laws and regulations, including the imposition of tariffs or quotas or other
trade barriers.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 6 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By their nature, certain disclosures relating to these and other
risks are only estimates and could be materially different from what actually occurs in the future. As a result, actual future
gains or losses that may affect our financial condition and results of operations could differ materially from those that have
been estimated. You should not place undue reliance on the forward-looking statements, which speak only as of the date of this
annual report. Except as required by law, we are not under any obligation, and expressly disclaim any obligation to, update or
alter any forward-looking statements, whether as a result of new information, future events or otherwise.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><a name="a_001"></a>PART I</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_002"></a>Item&nbsp;1.</b></td><td><b>Identity of Directors, Senior Management and Advisers</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_003"></a>Item&nbsp;2.</b></td><td><b>Offer Statistics and Expected Timetable</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><b>&nbsp;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 7 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_004"></a>Item&nbsp;3.</b></td><td><b>Key Information</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>A.</b></td><td><b>Selected Financial Data </b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The selected consolidated financial data set forth below have
been derived from our audited consolidated financial statements for each of the years and at the dates indicated therein<sup>(1)</sup>.
Our consolidated financial statements were prepared in accordance with IFRS, and were audited by PricewaterhouseCoopers, Soci&#233;t&#233;
coop&#233;rative, <i>Cabinet de r&#233;vision agr&#233;&#233; </i>(&#8220;PwC Luxembourg&#8221;), an independent registered
public accounting firm. PwC Luxembourg is a member firm of PwC International Limited (&#8220;PwC&#8221;). IFRS differs in certain
significant aspects from U.S. GAAP.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For a discussion of the accounting principles affecting the
financial information contained in this annual report, please see &#8220;Presentation of Certain Financial and Other Information
&#8211; Accounting Principles&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="font-style: italic">Thousands of U.S. dollars (except number of </td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="19" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td><i>shares and per share amounts)</i></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2019</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2018</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2017</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2016</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2015</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><font style="font-size: 10pt"><b>Selected consolidated income statement data</b> <sup>(1)</sup></font></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Continuing operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 45%; text-align: left">Net sales</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">7,294,055</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">7,658,588</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">5,288,504</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">4,293,592</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">6,903,123</td><td style="width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt">Cost of sales</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,107,495</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,279,300</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,685,057</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,165,684</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,747,760</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Gross profit</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">2,186,560</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">2,379,288</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">1,603,447</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">1,127,908</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">2,155,363</td><td style="font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Selling, general and administrative expenses</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,365,974</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,509,976</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,270,016</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,196,929</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,593,597</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 10pt">Other operating income (expenses), net <sup>(2)</sup></font></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">11,805</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,501</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,157</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">9,964</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(395,971</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Operating income (loss)</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">832,391</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">871,813</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">334,588</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">(59,057</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">165,795</td><td style="font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Finance income</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">47,997</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">39,856</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">47,605</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">66,204</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">34,574</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Finance cost</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(43,381</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(36,942</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(27,072</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(22,329</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(23,058</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Other financial results</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">14,667</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">34,386</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(43,550</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(21,921</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,076</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Income (loss) before equity in earnings (losses) of non-consolidated companies and income tax</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">851,674</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">909,113</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">311,571</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">(37,103</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">180,387</td><td style="font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 10pt">Equity in earnings (losses) of non-consolidated companies <sup>(3)</sup></font></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">82,036</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">193,994</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">116,140</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">71,533</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(39,558</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Income before income tax</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">933,710</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">1,103,107</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">427,711</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">34,430</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">140,829</td><td style="font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Income tax</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(202,452</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(229,207</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">17,136</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(17,102</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(234,384</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Income (loss) for the year for continuing operations</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">731,258</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">873,900</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">444,847</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">17,328</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">(93,555</td><td style="font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Discontinued operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Result for discontinued operations</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">91,542</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">41,411</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">19,130</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"><font style="font-size: 10pt"><b>Income (loss) for the year</b> <sup>(4)</sup></font></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">731,258</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">873,900</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">536,389</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,739</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(74,425</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><font style="font-size: 10pt"><b>Income (loss) attributable to <sup>(4)</sup>:</b></font></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Owners of the parent</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">742,686</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">876,063</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">544,737</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">55,298</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(80,162</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">Non-controlling interests</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(11,428</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,163</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(8,348</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,441</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">5,737</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"><font style="font-size: 10pt"><b>Income (loss) for the year </b><sup>(4)</sup></font></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">731,258</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">873,900</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">536,389</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,739</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(74,425</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Depreciation and amortization for continuing operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(539,521</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(664,357</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(608,640</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(657,109</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(653,313</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Weighted average number of shares outstanding</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Basic and diluted earnings (losses) per share for continuing operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.63</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.74</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.38</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.01</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Basic and diluted earnings (losses) per share</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.63</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.74</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.46</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.05</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(0.07</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td><font style="font-size: 10pt">Dividends per share <sup>(5)</sup></font></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.45</td><td style="text-align: left">&nbsp;</td></tr>
</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<!-- Field: Rule-Page --><div style="margin: 9pt auto; width: 100%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: left; width: 3%"><font style="font-size: 9pt"><sup>(1)</sup></font></td>
    <td style="vertical-align: bottom; text-align: left; width: 97%"><font style="font-size: 9pt">Following the sale in January
    2017 of our steel electric conduit business in North America, known as Republic Conduit, the results of that business are
    presented as discontinued operations in accordance with IFRS 5, "Non-current Assets Held for Sale and Discontinued Operations&#8221;.
    Consequently, all amounts related to discontinued operations within each line item of the consolidated income statement are
    reclassified into discontinued operations.</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 9pt"><sup>(2)</sup></font></td>
    <td style="vertical-align: bottom; text-align: left"><font style="font-size: 9pt">Other operating income (expenses), net in
    2015 includes an impairment charge of $400 million on our North American welded pipe operations.</font></td></tr>
<tr style="vertical-align: middle">
    <td style="vertical-align: top; text-align: left"><font style="font-size: 9pt"><sup>(3)</sup></font></td>
    <td style="text-align: left"><font style="font-size: 9pt">Equity in earnings (losses) of non-consolidated companies includes
    impairment charges on the investment in Usiminas (as such term is defined below) investment of $29 million in 2015.</font></td></tr>
<tr style="vertical-align: middle">
    <td style="vertical-align: top; text-align: left"><font style="font-size: 9pt"><sup>(4)</sup></font></td>
    <td style="text-align: left"><font style="font-size: 9pt">International Accounting Standard No.&nbsp;1 (&#8220;IAS 1&#8221;)
    (revised) requires that income for the year as shown on the income statement does not exclude non-controlling interests. Earnings
    per share, however, continue to be calculated on the basis of income attributable solely to the owners of the parent (i.e.,
    the Company).</font></td></tr>
<tr style="vertical-align: middle">
    <td style="vertical-align: top; text-align: left"><font style="font-size: 9pt"><sup>(5)</sup></font></td>
    <td style="text-align: left"><font style="font-size: 9pt">Dividends per share correspond to the dividends proposed or paid
    in respect of the year.</font></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></p>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt"></p>

<!-- Field: Page; Sequence: 8 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="font-style: italic"></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="19" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">At December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td><i>Thousands of U.S. dollars (except number of shares)</i></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2019</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2018</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2017</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2016</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Selected consolidated financial position data</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 45%; text-align: left">Current assets</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">5,670,607</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">5,464,192</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">5,381,154</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">4,817,154</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">5,743,031</td><td style="width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Property, plant and equipment, net</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,090,017</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,063,908</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,229,143</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,001,939</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,672,258</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Other non-current assets</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,082,367</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,723,199</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,787,921</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,032,765</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,471,685</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Assets of disposal group classified as held for sale</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">151,417</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,842,991</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,251,299</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,398,218</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,003,275</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,886,974</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Current liabilities</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,780,457</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,718,363</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,070,899</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,713,036</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,754,775</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Non-current borrowings</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">40,880</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">29,187</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">34,645</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">31,542</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">223,221</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Deferred tax liabilities</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">336,982</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">379,039</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">457,970</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">550,657</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">750,325</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Other non-current liabilities</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">498,300</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">249,218</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">253,734</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">276,874</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">292,597</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">Liabilities of disposal group classified as held for sale</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">18,094</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Total liabilities</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,656,619</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,375,807</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,817,248</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,590,203</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,020,918</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Capital and reserves attributable to owners of the parent</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,988,958</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,782,882</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,482,185</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,287,417</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,713,344</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">Non-controlling interests</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">197,414</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">92,610</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">98,785</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">125,655</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">152,712</td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Total equity</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">12,186,372</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,875,492</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,580,970</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,413,072</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,866,056</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">&nbsp;</td><td style="font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities and equity</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,842,991</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,251,299</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,398,218</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,003,275</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,886,974</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Share capital</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,537</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,537</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,537</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,537</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,537</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Number of shares outstanding</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="text-align: left">&nbsp;</td></tr>
</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 28.35pt; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Capitalization and Indebtedness</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 28.35pt"><b>C.</b></td><td><b>Reasons for the Offer and Use of Proceeds</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>D.</b></td><td><b>Risk Factors </b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>You should carefully consider the risks and uncertainties
described below, together with all other information contained in this annual report, before making any investment decision. Any
of these risks and uncertainties could have a material adverse effect on our business, revenues, financial condition and results
of operations, which could in turn affect the price of shares and ADSs. </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Risks Relating to Our Industry </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>The COVID-19 pandemic could have an adverse effect of
a magnitude we cannot predict.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A novel strain of coronavirus (SARS-CoV-2) surfaced in China
in December 2019 and subsequently spread to the rest of the world in early 2020. In March 2020, the World Health Organization declared
COVID-19, the disease caused by SARS-CoV-2, a global pandemic. In response to the COVID-19 outbreak, countries have taken different
measures in relation to prevention and containment, and several countries introduced bans on business activities or locked down
cities or countries, including countries where Tenaris has operations (such as Argentina, China, Colombia, Italy, Mexico and the
United States). The rapid expansion of COVID-19 and the measures taken to contain it have triggered a severe fall in global economic
activity and a serious crisis in the energy sector.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Given the uncertainty around the extent and timing of the future
spread of the SARS-CoV-2 virus and the timing or relaxation of protective measures, it is not possible at this time to predict
the magnitude of COVID-19&#8217;s effects on any of the world&#8217;s economy, the energy industry generally, or Tenaris in particular,
nor is it feasible to reasonably estimate the impact of the pandemic on Tenaris&#8217;s operations, results, cash flows or financial
condition. For more information on the impact of the COVID-19 pandemic, see Item 5G. &#8220;Operating and Financial Review and
Prospects &#8211;Recent Developments - The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s operations
and financial condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Sales and profitability have fallen as a result of downturns
in the international price of oil and gas and other factors and circumstances (including the recent COVID-19 outbreak) affecting
the oil and gas industry, and may continue to be adversely impacted for a prolonged period of time. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are a global steel pipe manufacturer with a strong focus on
manufacturing products and related services for the oil and gas industry. The oil and gas industry is a major consumer of steel
pipe products worldwide, particularly for products manufactured under high quality standards and demanding specifications. Demand
for steel pipe products from the oil and gas industry has historically been volatile and depends primarily upon the number of oil
and natural gas wells being drilled, completed and reworked, and the depth and drilling conditions of these wells. The level of
exploration, development and production activities of, and the corresponding capital spending by, oil and gas companies, including
national oil companies, depends primarily on current and expected future prices of oil and natural gas and is sensitive to the
industry&rsquo;s view of future economic growth and the resulting impact on demand for oil and natural gas. Several factors, such
as the supply and demand for oil and gas, and political and global economic conditions, affect these prices. When the price of
oil and gas falls, oil and gas companies generally reduce spending on production and exploration activities and, accordingly, make
fewer purchases of steel pipe products. Major oil-and gas-producing nations and companies have frequently collaborated to balance
the supply (and thus the price) of oil in the international markets. A major vehicle for this collaboration has been the Organization
of Petroleum Exporting Countries (&ldquo;OPEC&rdquo;), and many of our customers are state-owned companies in member countries
of OPEC. A more recent factor affecting oil and gas prices has been the ability of producers in the United States and Canada to
rapidly increase production from their reserves of tight oil and shale gas in response to changes in market conditions. For example,
in recent years, Saudi Arabia and Russia have cooperated in trimming crude production to try to counter falling prices resulting
from the increased production in the United States and Canada. While the extent of the effects of COVID-19 on the global economy
and oil demand were still unclear, in March 2020, the members of OPEC+ (OPEC plus other major oil producers including Russia) did
not agree to extend their agreement to cut oil production and Saudi Arabia precipitated a wave of additional supply on the market
triggering a collapse in oil prices below $30 per barrel. This exacerbated what soon became clear to be an unprecedented situation
of oversupply, caused primarily by the sudden and dramatic fall in oil consumption as a result of the measures taken to contain
the spread of the virus around the world. Although OPEC+ subsequently reached an equally unprecedented agreement to cut production
by as much as 9.7 million barrels per day, a situation of acute oversupply remains, causing oil prices to hit a record lows. By
the end of trading on April 20, 2020, the West Texas Intermediate (WTI) forward price for delivery in May, which had to be closed
out the following day, fell to a negative value for the first time in history, as oil storage facilities were completely committed,
and producers were forced to pay buyers to take their barrels. It is not known how long it will take for oil and gas demand to
recover or to achieve a more balanced position between supply and demand. As a result, prices are expected to remain at low levels
for an extended period. In these circumstances, most of our customers have announced, or are making, significant cuts to their
investment plans and are likely to announce further cuts, in which case demand for our products will decline further and have a
material impact on our operations, revenues, profitability and financial condition. For more information on the impact of the COVID-19
pandemic and the oil and gas crisis, see Item 5G. &ldquo;Operating and Financial Review and Prospects &ndash;Recent Developments
- The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&rsquo;s operations and financial condition.&rdquo;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 9 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Competition in the global market for steel pipe products
may cause us to lose market share and hurt our sales and profitability. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The global market for steel pipe products is highly competitive,
with the primary competitive factors being price, quality, service and technology. In recent years, substantial investments have
been made, especially in China but also in the United States, to increase production capacity of seamless steel pipe products,
and as a result there is significant excess production capacity, particularly for &#8220;commodity&#8221; or standard product grades.
Capacity for the production of more specialized product grades has also increased. At the same time, the high cost and long lead
times required to develop the most complex projects, particularly deepwater and oil sands projects, has led to a slowdown in the
sanctioning of new developments in a context of low and more volatile oil prices. Despite our efforts to develop products and services
that differentiate us from our competitors, reduced demand for steel pipe products from these complex projects means that the competitive
environment is expected to remain intense in the coming years and effective competitive differentiation will be a key success factor
for Tenaris. In addition, there is a risk of unfairly traded steel pipe imports in markets in which Tenaris produces and sells
its products and, despite the application of antidumping duties and tariffs, we can give no assurance with respect to the effectiveness
of these actions. Therefore, we may not continue to compete effectively against existing or potential producers and preserve our
current shares of geographic or product markets, and increased competition may have a material impact on the pricing of our products
and services, which could in turn adversely affect our revenues, profitability and financial condition.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Increases in the cost of raw materials, energy and other
costs, limitations or disruptions to the supply of raw materials and energy, and price mismatches between raw materials and our
products may hurt our profitability. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The manufacture of seamless steel pipe products requires substantial
amounts of steelmaking raw materials and energy; welded steel pipe products, in turn, are processed from steel coils and plates.
The availability and pricing of a significant portion of the raw materials and energy we require are subject to supply and demand
conditions, which can be volatile, and to tariffs and other government regulations, which can affect continuity of supply and prices.
In addition, disruptions, restrictions or limited availability of energy resources in markets where we have significant operations
could lead to higher costs of production and eventually to production cutbacks at our facilities in such markets. For example,
in Mexico, the decrease in the national production of natural gas and constraints in natural gas transportation capacity have led
to increased imports of natural gas which have resulted in increased natural gas transportation costs and, thus, higher steel pipe
production costs. See &#8220;Risks Relating to Our Business &#8211; Adverse economic or political conditions in the countries where
we operate or sell our products and services may decrease our sales or disrupt our manufacturing operations, thereby adversely
affecting our revenues, profitability and financial condition&#8221;. At any given time, we may be unable to obtain an adequate
supply of critical raw materials with price and other terms acceptable to us. The availability and prices of raw materials may
also be negatively affected by new laws and regulations, including import controls, allocation by suppliers, interruptions in production,
accidents or natural disasters, changes in exchange rates, worldwide price fluctuations, and the availability and cost of transportation.
In addition, we may not be able to recover, partially or fully, increased costs of raw materials and energy through increased selling
prices on our products, or it may take an extended period of time to do so, and limited availability could force us to curtail
production, which could adversely affect our sales and profitability.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Our results of operations and financial conditions could
be adversely affected by low levels of capacity utilization.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Like other manufacturers of steel-related products, we have fixed
and semi-fixed costs (e.g., labor and other operating and maintenance costs) that cannot adjust rapidly to fluctuations in product
demand for several reasons, including operational constraints and regulatory restrictions. If demand for our products falls significantly,
or if we unable to operate due to, for example, governmental measures or unavailability of workforce, these costs may adversely
affect our profitability and financial condition. In response to the abrupt and steep downturn of the oil and gas industry, we
have been required to implement cost-containment measures, including reduction of our operating activities in several jurisdictions,
temporary closure of facilities in the United States and review of our capital expenditure plans. Temporary suspensions of operations
or closure of facilities generally lead to layoffs of employees, which may in turn give rise to labor conflicts and impact operations.
Moreover, cost containment measures may also affect profitability and result in charges for asset impairments. For more information
on the impact of the COVID-19 pandemic and the oil and gas crisis, see Item 5G. &#8220;Operating and Financial Review and Prospects
&#8211;Recent Developments - The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s operations
and financial condition&#8221;; and for more information on liquidity and capital resources, see &#8220;Item 5G. &#8220;Operating
and Financial Review and Prospects &#8212;B. Liquidity and Capital Resources - Principal Sources of Funding&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 10 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Climate change legislation or regulations could curtail
demand for fossil fuels and therefore demand for our products and services could be reduced.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We provide products and services to the oil and gas industry,
which is generally blamed for greenhouse gas emissions. There is an increased attention on greenhouse gas emissions and climate
change from different sectors of society. Existing or future legislation and regulations related to greenhouse gas emissions and
climate change, as well as government initiatives to promote the use of alternative energy sources (with many jurisdictions implementing
tax advantages and other subsidies to promote the development of renewable energy sources, or even requiring minimum thresholds
for power generation from renewable sources), may significantly curtail demand for and production of fossil fuels such as oil and
natural gas. These initiatives, together with the growing social awareness regarding climate change and other environmental matters,
have resulted in increased investor and consumer demand for renewable energy and additional compliance requirements for fossil
energy projects, which are likely to become more stringent over time and to result in substantial increases in costs for the oil
and natural gas industry. Furthermore, ongoing technological developments in the renewable energy industry are making renewable
energy increasingly competitive against fossil-fuels. If this trend continues, energy demand could shift increasingly towards &#8220;cleaner&#8221;
sources such as hydroelectrical, solar, wind and other renewable energies, which would, in turn, reduce demand for oil and natural
gas, thus negatively affecting demand for our products and services and, ultimately, our future results of operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Risks Relating to Our Business </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Adverse economic or political conditions in the countries
where we operate or sell our products and services may decrease our sales or disrupt our manufacturing operations, thereby adversely
affecting our revenues, profitability and financial condition. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have significant operations in various countries, including
Argentina, Brazil, Canada, China, Colombia, Indonesia, Italy, Japan, Mexico, Nigeria, Romania, Saudi Arabia and the United States,
and we sell our products and services throughout the world. Additionally, in 2019, we formed a joint venture with PAO Severstal
(&#8220;Severstal&#8221;), and we are currently building a welded pipe plant in Russia. Therefore, like other companies with worldwide
operations, our business and operations have been, and could in the future be, affected from time to time to varying degrees by
political, economic, social and public health developments and changes in laws and regulations. These developments and changes
may include, among others, nationalization, expropriation or forced divestiture of assets; restrictions on production, imports
and exports; travel, transportation or trade bans; interruptions in the supply of essential energy inputs; exchange and/or transfer
restrictions, inability or increasing difficulties to repatriate income or capital or to make contract payments; inflation; devaluation;
war or other international conflicts; civil unrest and local security concerns, including high incidences of crime and violence
involving drug trafficking organizations that threaten the safe operation of our facilities and operations; direct and indirect
price controls; tax increases and changes (including retroactive) in the interpretation, application or enforcement of tax laws
and other claims or challenges; cancellation of contract rights; and delays or denials of governmental approvals. Both the likelihood
of such occurrences and their overall impact upon us vary greatly from country to country and are not predictable. Realization
of these risks could have an adverse impact on the results of operations and financial condition of our subsidiaries located in
the affected country and, depending on their materiality, on the results of operations and financial condition of Tenaris as a
whole.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our business and operations in Argentina, from where in 2019
we derived more than 10% of our revenues, including sales to domestic and export markets, may be materially and adversely affected
by economic, political, social, fiscal and regulatory developments, including the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>Macroeconomic and political conditions in Argentina may adversely affect our business and operations. Increased state intervention
in the economy, along with the introduction of changes to government policies, could have an adverse effect on our operations and
financial results. Similarly, they could also negatively impact the business and operations of our customers -oil and gas companies
operating in Argentina- and consequently our revenues and profitability.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>Our business and operations in Argentina may be adversely affected by inflation or by the measures that may be adopted by the
government to address inflation. In particular, increases in services and labor costs could negatively affect our results of operations.
In addition, an increased level of labor demands in response to spiraling inflation could trigger higher levels of labor conflicts,
and eventually result in strikes or work stoppages. Any such disruption of operations could have an adverse effect on our operations
and financial results.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 11 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>Other developments that may have an adverse effect on our operations
and financial results include increased taxes, exchange controls, restrictions on capital flows and export and import taxes or
restrictions. Additionally, in 2019 the Argentine Central Bank introduced several rules and regulations including restrictions
on capital outflows from Argentina. Argentine subsidiaries are required to repatriate U.S. dollars collected in connection with
exports from Argentina (including U.S. dollars obtained through advance payment and pre-financing facilities) into the country
and convert them into ARS at the official exchange rate, which is generally materially lower that the exchange rate available for
other purposes. The Argentine government tightened its controls on transactions that would represent capital outflows from Argentina,
limiting the ability of Argentine companies to transfer funds outside of Argentina.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">These existing controls, and any additional restrictions of this kind
that may be imposed in the future, could expose us to the risk of losses arising from fluctuations in the ARS/USD exchange rate
or affect our ability to finance our investments and operations in Argentina, or impair our ability to convert and transfer outside
the country funds generated by Argentine subsidiaries to pay dividends or royalties or make other offshore payments. For additional
information on current Argentine exchange controls and restrictions see Item 10.D. &#8220;Additional Information &#8211; Exchange
Controls &#8211; Argentina.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>In recent years, our operations in Argentina experienced constraints in their electricity and natural gas supply requirements
on many occasions. Shortages of energy and natural gas in Argentina have led in the past (and could lead in the future) to production
cutbacks negatively affecting our revenues and profitability; we could also face increased costs when using alternative sources
of energy.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Mexico, from where in 2019 we derived more than 10% of our
revenues, our business could be materially and adversely affected by economic, political, social, fiscal and regulatory developments,
including the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>The Mexican government exercises significant influence over the Mexican economy and, therefore, governmental actions concerning
the economy and state-owned enterprises could have a significant impact on Mexico&#8217;s private sector and on our Mexican-related
operations. In addition, changes of the United States-Mexico-Canada Agreement (&#8220;USMCA&#8221;), could adversely affect the
investment climate and economic activity in Mexico, Canada and/or in the United States and impact our results of operations and
net results.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>We have a growing credit exposure to Petr&#243;leos Mexicanos S.A. de C.V. (&#8220;Pemex&#8221;), a Mexican state-owned entity
and our main customer in Mexico. During 2019 and early 2020 we started building a hefty balance of accounts receivable with Pemex,
which started to decrease as a result of large collections recorded as from February 2020. If we are not able to reduce our exposure
to Pemex and Pemex defaults on its payments, our revenues and profitability may be adversely affected. However, Pemex has communicated
to the market and its suppliers, that it has access to ample lines of credit and that in addition it has been able to refinance
part of its maturities for 2020, therefore guaranteeing payment of its obligations to creditors and suppliers alike.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>Our Mexican operations could also be affected by criminal violence, primarily due to the activities of drug cartels and related
organized crime that Mexico has experienced and may continue to experience. The city of Veracruz, where our facility is located,
has experienced several incidents of violence. Although the Mexican government has implemented various security measures and has
strengthened its military and police forces, drug-related crime continues to exist in Mexico. Our business may be materially and
adversely affected by these activities, their possible escalation and the violence associated with them.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>In 2017, 2018 and 2019, our operations in Mexico experienced several days of union-led stoppages due to an internal dispute
within the local union; such internal dispute is ongoing and we cannot assure it will not cause further disruptions in our Mexican
operations.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the Middle East and Africa, our business could be adversely
affected by political and other events in the region, such as armed conflicts, terrorist attacks and social unrest, which could
materially impact the operations of companies active in the region&#8217;s oil and gas industry.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 12 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>If we do not successfully implement our business strategy,
our ability to grow, our competitive position and our sales and profitability may suffer.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We plan to continue implementing our business strategy of developing
integrated product and service solutions designed to differentiate our offering from those of our competitors and meet the needs
of our customers for lower operational costs and reliable performance even in the most demanding environments, as well as continuing
to pursue strategic investment opportunities. Any of the components of our overall business strategy could cost more than anticipated,
may not be successfully implemented or could be delayed or abandoned. For example, we may fail to create sufficient differentiation
in our Rig Direct&#174; services to compensate the added costs of providing such services, or fail to find suitable investment opportunities,
including acquisition targets that enable us to continue to grow and improve our competitive position. Even if we successfully
implement our business strategy, it may not yield the expected results.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>We could be subject to regulatory risks associated with
our international operations.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The shipment of goods and services across international borders
subjects us to extensive trade laws and regulations. Our import and export activities are governed by customs laws and regulations
in each of the countries where we operate. Moreover, the European Union, the United States and other countries control the import
and export of certain goods and services and impose related import and export recordkeeping and reporting obligations. Those governments
have also imposed economic sanctions against certain countries, persons and other entities, such as sanctions involving sales to
Iran, Syria and Venezuela, that restrict or prohibit transactions involving such countries, persons and entities. Similarly, we
are subject to the U.S. anti-boycott laws. These laws and regulations are complex and frequently changing, and they may be enacted,
amended, enforced or interpreted in a manner that could materially impact our operations. For example, in March 2018, under Section
232 of the Trade Expansion Act of 1962 (&#8220;Section 232&#8221;), the U.S. imposed a 25% tariff on steel articles imported from
all countries. However, Canada and Mexico, as member states of the USMCA, are exempt from the 25% tariff since May 2019. Additionally,
imports of steel tubes from Australia, Argentina, Brazil and South Korea are exempt from the 25% tariff; the latter three with
specific quotas per product. The U.S. government has also granted the exemption on imports of steel billets from Italy, Mexico
and Romania, to be used at our Bay City mill, for an aggregate annual amount of 435,000 tons until September 2020. Any of these
exemptions may be revoked or not renewed, thus adversely affecting our operations or revenues. In addition, failure to comply with
applicable trade regulations could also result in criminal and civil penalties and sanctions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Changes in applicable tax regulations and resolutions
of tax disputes could negatively affect our financial results.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are subject to tax laws in numerous foreign jurisdictions
where we operate. However, the integrated nature of our worldwide operations can produce conflicting claims from revenue authorities
in different countries as to the profits to be taxed in the individual countries, including disputes relating to transfer pricing.
The majority of the jurisdictions in which we operate have double tax treaties with other foreign jurisdictions, which provide
a framework for mitigating the impact of double taxation on our results. However, mechanisms developed to resolve such conflicting
claims are largely untried, and can be expected to be very lengthy.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In recent years, tax authorities around the world have increased
their scrutiny of company tax filings and have become more rigid in exercising any discretion they may have. As part of this,
the Organization for Economic Co-operation and Development (&#8220;OECD&#8221;) has proposed a number of tax law changes under
its Base Erosion and Profit Shifting (&#8220;BEPS&#8221;) Action Plans to address issues of transparency, coherence and substance.
At the EU level, the European Commission has adopted its Anti Tax Avoidance Directive (&#8220;ATAD&#8221;), which seeks to prevent
tax avoidance by companies and to ensure that companies pay appropriate taxes in the markets where profits are effectively made
and business is effectively performed.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Changes to tax laws and regulations in the countries where we
operate require us to continually assess our organizational structure and could lead to increased risk of international tax disputes.
Our interpretations and application of the tax laws could differ from that of the relevant governmental taxing authority, which
could result in the payment of additional taxes, penalties or interest, negatively affecting our profitability and financial condition.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Future acquisitions, strategic partnerships and capital
investments may not perform in accordance with expectations or may disrupt our operations and hurt our profits. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One element of our business strategy is to identify and pursue growth-enhancing
strategic opportunities. As part of that strategy, we regularly make significant capital investments and acquire interests in,
or businesses of, various companies. For example, on January 21, 2019, we completed the acquisition of 47.79% of the shares of
Saudi Steel Pipe Company (&#8220;SSPC&#8221;), a welded steel pipes producer listed on the Saudi Stock Exchange, for a total purchase
price of approximately $141 million; on February 5, 2019, we reached an agreement with Severstal to build during the coming years,
a welded pipe plant to produce OCTG products in the Surgut area, West Siberia, Russian Federation, with an estimated cost of $280
million, in which Tenaris will hold a 49% interest; and on January 2, 2020, we acquired IPSCO, a wholly-owned subsidiary of PAO
TMK (&#8220;TMK&#8221;) and a U.S. producer of seamless and welded OCTG and line pipe products, for approximately $1,067 million,
subject to a contractual true-up adjustment based on actual amounts of cash, indebtedness, working capital and certain other items
as of the closing date. Consistent with our growth strategy, we intend to continue considering strategic acquisitions, investments
and partnerships from time to time to expand our operations and establish a local presence in our markets. We must necessarily
base any assessment of potential acquisitions, joint ventures and capital investments on assumptions with respect to timing, profitability,
market and customer behavior and other matters that may subsequently prove to be incorrect. For example, we negotiated the terms
for the acquisition of IPSCO in early 2019 based on assumptions made at that time, but due to the length of the antitrust review
process, we were able to complete the acquisition only in 2020 under materially worse market circumstances. For more information
on IPSCO&#8217; acquisition see note 35 &#8220;Subsequent Events &#8211; Acquisition of IPSCO Tubulars, Inc.&#8221; and note 36
&#8220;Update as of April 29, 2020 - Acquisition of IPSCO Tubulars, Inc.&#8221; to our audited consolidated financial statements
included in this annual report, and for information on impairment charges on our U.S. operations see Item 5G. &#8220;Operating
and Financial Review and Prospects &#8211; Recent Developments &#8211; The COVID-19 pandemic and the oil &amp; gas crisis and their
impact on Tenaris&#8217;s operations and financial condition.&#8221;. Our past or future acquisitions, significant investments
and alliances may not perform in accordance with our expectations and could adversely affect our operations and profitability.
In addition, new demands on our existing organization and personnel resulting from the integration of new acquisitions could disrupt
our operations and adversely affect our operations and profitability. Moreover, as part of future acquisitions, we may acquire
assets that are unrelated to our business, and we may not be able to integrate these assets or sell them under favorable terms
and conditions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 13 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Disruptions to our manufacturing processes could adversely
affect our operations, customer service levels and financial results.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our steel pipe manufacturing processes depend on the operation
of critical steelmaking equipment, such as electric arc furnaces, continuous casters, rolling mills, heat treatment and various
operations that support them, such as our power generation facilities. Despite the investments we make to maintain critical production
equipment, such equipment may incur downtime as a result of unanticipated failures or other events, such as fires, explosions,
floods, accidents and severe weather conditions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Similarly, natural disasters or severe weather conditions could
significantly damage our production facilities and general infrastructure or affect the normal course of business. For example,
our Mexican production facility located in Veracruz is located in or close to regions prone to earthquakes, and our Bay City facility
in Texas, United States is located in an area prone to strong winds and hurricanes, and occasional floods. More generally, changing
weather patterns and climatic conditions in recent years have added to the unpredictability and frequency of natural disasters.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our operations may also be adversely affected as a result of
stoppages or other labor conflicts. In 2017, 2018 and 2019, our operations in Mexico experienced several days of union-led stoppages
due to an internal dispute within the local union; such internal dispute is ongoing and we cannot assure it will not cause further
disruptions in Mexico. In addition, in some of the countries in which we have significant production facilities (e.g., Argentina
and Brazil), significant fluctuations in exchange rates, together with inflationary pressures, affect our costs, increase labor
demands and could eventually generate higher levels of labor conflicts.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following the COVID-19 outbreak, some of our facilities
have been affected, and may continue to be affected, by shutdowns or other restrictions mandated by governmental authorities
or otherwise adopted as a preventive measure, or by the unavailability of workforce. For more information on the status of
our operations see Item 5G. &#8220;Operating and Financial Review and Prospects &#8211; Recent Developments - The COVID-19
pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s operations and financial condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Some of the previously described emergency situations could result
in damage to property, delays in production or shipments and, in extreme cases, death or injury to persons. Any of the foregoing
could create liability for Tenaris. To the extent that lost production or delays in shipments cannot be compensated for by unaffected
facilities, such events could have an adverse effect on our profitability and financial condition. Additionally, we do not carry
business interruption insurance, and the insurance we maintain for property damage and general liability may not be adequate or
available to protect us under such events, its coverage may be limited, or the amount of our insurance may be less than the related
loss. For more information on our insurance coverage see Item 4.B. &#8220;Information on the Company &#8211; B. Business overview
&#8211; Insurance&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>We may be required to record a significant charge to earnings
if we must reassess our goodwill or other assets as a result of changes in assumptions underlying the carrying value of certain
assets, particularly as a consequence of deteriorating market conditions. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Assets that are subject to amortization are reviewed for impairment
whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Intangible assets with indefinite
useful life, including goodwill, are subject to at least an annual impairment test. At December 31, 2019 we had $1,320 million
in goodwill corresponding mainly to the acquisition of Hydril Company (&ldquo;Hydril&rdquo;) in 2007 ($920 million) and Maverick
Tube Corporation (&ldquo;Maverick&rdquo;) in 2006 ($229 million).&nbsp;We&nbsp;recognized&nbsp;goodwill&nbsp;for approximately
$357 million&nbsp;in connection with our acquisition of IPSCO.&nbsp;As a result of the severe deterioration of business conditions
and in light of the presence of impairment indicators for its U.S. operations, Tenaris recorded impairment charges as at March
31, 2020, for an aggregate amount of approximately $622 million. For more information on impairment charges on our U.S. operations
see Item 5G. &ldquo;Operating and Financial Review and Prospects &ndash;Recent Developments - The COVID-19 pandemic and the oil
&amp; gas crisis and their impact on Tenaris&rsquo;s operations and financial condition.&rdquo;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 14 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Our results of operations and financial condition could
be adversely affected by movements in exchange rates. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a global company we manufacture and sell products in a number
of countries throughout the world and a portion of our business is carried out in currencies other than the U.S. dollar, which
is the Company&#8217;s functional and presentation currency. As a result, we are exposed to foreign exchange rate risk. Changes
in currency values and foreign exchange regulations could adversely affect our financial condition and results of operations. For
information on our foreign exchange rate risk, please see Item 11. &#8220;Quantitative and Qualitative Disclosure About Market
Risk &#8211; Foreign Exchange Rate Risk&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>If we do not comply with laws and regulations designed
to combat corruption in countries in which we sell our products, we could become subject to governmental investigations, fines,
penalties or other sanctions and to private lawsuits and our sales and profitability could suffer. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We operate globally and conduct business in certain countries
known to experience corruption. Although we are committed to conducting business in a legal and ethical manner in compliance with
local and international statutory requirements and standards applicable to our business, there is a risk that our employees, representatives,
affiliates, or other persons may take actions that violate applicable laws and regulations that generally prohibit the making of
improper payments, including to foreign government officials, for the purpose of obtaining or keeping business, including laws
relating to the 1997 OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions such
as the U.S. Foreign Corrupt Practices Act (&#8220;FCPA&#8221;). Investigations by government authorities may occupy considerable
management time and attention and result in significant expenditures, fines, penalties or other sanctions, as well as private lawsuits.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For information on matters related to an ongoing
investigation in connection with certain allegedly improper payments in Brazil, please refer to Item 8. A.
&#8220;Consolidated and Other Financial Information &#8211; Legal Proceedings&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>The cost of complying with environmental regulations and
potential environmental and product liabilities may increase our operating costs and negatively impact our business, financial
condition, results of operations and prospects. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are subject to a wide range of local, provincial and national
laws, regulations, permit requirements and decrees relating to the protection of human health and the environment, including laws
and regulations relating to hazardous materials and radioactive materials and environmental protection governing air emissions,
water discharges and waste management. Laws and regulations protecting the environment have become increasingly complex and more
stringent and expensive to implement in recent years. Additionally, international environmental requirements vary. While standards
in the European Union, Canada, and Japan are generally comparable to U.S. standards, other nations, particularly developing nations,
including China, have substantially lesser requirements that may give competitors in such nations a competitive advantage. It is
possible that any international agreement to regulate emissions may provide exemptions and lesser standards for developing nations.
In such case, we may be at a competitive disadvantage relative to competitors having more or all of their production in such developing
nations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Environmental laws and regulations may, in some cases, impose
strict liability rendering a person liable for damages to natural resources or threats to public health and safety without regard
to negligence or fault. Some environmental laws provide for joint and several strict liability for remediation of spills and releases
of hazardous substances. These laws and regulations may expose us to liability for the conduct of or conditions caused by others
or for acts that were in compliance with all applicable laws at the time they were performed.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Compliance with applicable requirements and the adoption of
new requirements could have a material adverse effect on our consolidated financial condition, results of operations or cash flows.
The costs and ultimate impact of complying with environmental laws and regulations are not always clearly known or determinable
since regulations under some of these laws have not yet been promulgated or are undergoing revision. The expenditures necessary
to remain in compliance with these laws and regulations, including site or other remediation costs, or costs incurred as a result
of potential violations of environmental laws could have a material adverse effect on our financial condition and profitability.
While we incur and will continue to incur expenditures to comply with applicable laws and regulations, there always remains a risk
that environmental incidents or accidents may occur that may negatively affect our reputation or our operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 15 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our oil and gas casing, tubing and line pipe products are sold
primarily for use in oil and gas drilling, gathering, transportation, processing and power generation facilities, which are subject
to inherent risks, including well failures, line pipe leaks, blowouts, bursts and fires, that could result in death, personal injury,
property damage, environmental pollution or loss of production. Any of these hazards and risks can result in environmental liabilities,
personal injury claims and property damage from the release of hydrocarbons.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Defects in specialty tubing products could result in death,
personal injury, property damage, environmental pollution, damage to equipment and facilities or loss of production.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We normally warrant the oilfield products and specialty tubing
products we sell or distribute in accordance with customer specifications, but as we pursue our business strategy of providing
customers with additional services, such as Rig Direct&#174;, we may be required to warrant that the goods we sell and services
we provide are fit for their intended purpose. Actual or claimed defects in our products may give rise to claims against us for
losses suffered by our customers and expose us to claims for damages. The insurance we maintain will not be available in cases
of gross negligence or willful misconduct, in other cases may not be adequate or available to protect us in the event of a claim,
its coverage may be limited, canceled or otherwise terminated, or the amount of our insurance may be less than the related impact
on enterprise value after a loss. Similarly, our sales of tubes and components for the automotive industry subject us to potential
product liability risks that could extend to being held liable for the costs of the recall of automobiles sold by car manufacturers
and their distributors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Limitations on our ability to protect our intellectual
property rights, including our trade secrets, could cause a loss in revenue and any competitive advantage we hold.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Some of our products or services, and the processes we use to
produce or provide them, have been granted patent protection, have patent applications pending, or are trade secrets. Our business
may be adversely affected if our patents are unenforceable, the claims allowed under our patents are not sufficient to protect
our technology, our patent applications are denied or our trade secrets are not adequately protected. Our competitors may be able
to develop technology independently that is similar to ours without infringing on our patents or gaining access to our trade secrets,
which could adversely affect our financial condition, results of operations and cash flows.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Cyberattacks could have a material adverse impact on our
business and results of operation. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We rely heavily on information systems to conduct our business.
Although we devote significant resources to protect our systems and data, we have experienced and will continue to experience varying
degrees of cyber incidents in the normal conduct of our business, which may occasionally include sophisticated cybersecurity threats
such as unauthorized access to data and systems, loss or destruction of data, computer viruses or other malicious code, phishing,
spoofing and/or cyberattacks. These threats often arise from numerous sources, not all of which are within our control, such as
fraud or malice from third parties, including fraud involving business email compromises, failures of computer servers or other
accidental technological failures, electrical or telecommunication outages or other damage to our property or assets. For example,
in 2019, we suffered five spoofing attempts with no material impact on results. Given the rapidly evolving nature of cyber threats,
there can be no assurance that the systems we have designed to prevent or limit the effects of cyber incidents or attacks will
be sufficient to prevent or detect such incidents or attacks, or to avoid a material adverse impact on our systems when such incidents
or attacks do occur. While we attempt to mitigate these risks, we remain vulnerable to additional known or unknown threats, including
theft, misplacement or loss of data, programming errors, employee errors and/or dishonest behavior that could potentially lead
to the compromising of sensitive information, improper use of our systems or networks, as well as unauthorized access, use, disclosure,
modification or destruction of such information, systems and/or networks. If our systems for protecting against cybersecurity risks
are circumvented or breached, this could also result in disruptions to our business operations (including but not limited to, defective
products or production downtimes), access to our financial reporting systems, the loss of access to critical data or systems, misuse
or corruption of critical data and proprietary information (including our intellectual property and customer data), as well as
damage to our reputation with our customers and the market, failure to meet customer requirements, customer dissatisfaction and/or
other financial costs and losses. In addition, given that cybersecurity threats continue to evolve, we may be required to devote
additional resources in the future to enhance our protective measures or to investigate and/or remediate any cybersecurity vulnerabilities.
Moreover, any investigation of a cyberattack would take time before completion, during which we would not necessarily know the
extent of the actual or potential harm or how best to remediate it, and certain errors or actions could be repeated or compounded
before duly discovered and remediated (all or any of which could further increase the costs and consequences arising out of such
cyberattack). Tenaris does not maintain any specific insurance coverage to protect against cybersecurity risks.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 16 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Risks Relating to the Structure of the Company </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>The Company&#8217;s dividend payments depend on the results of operations and financial condition of its
subsidiaries and could be affected by legal, contractual or other limitations or tax changes.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is a holding company and conducts all its operations
through subsidiaries. Dividends or other intercompany transfers of funds from those subsidiaries are the Company&#8217;s primary
source of funds to pay its expenses, debt service and dividends and to repurchase shares or ADSs.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The ability of the Company&rsquo;s subsidiaries to pay dividends
and make other payments to us will depend on their results of operations and financial condition and could be restricted by applicable
corporate and other laws and regulations, including those imposing foreign exchange controls or restrictions on the repatriation
of capital or the making of dividend payments, and agreements and commitments of such subsidiaries. If earnings and cash flows
of the Company&rsquo;s operating subsidiaries are substantially reduced, including as a result of deteriorating market conditions,
the Company may not be in a position to meet its operational needs or to pay dividends. For information concerning potential restrictions
on our ability to collect dividends from certain subsidiaries, see &ldquo;Risks Relating to Our Business &ndash; Adverse economic
or political conditions in the countries where we operate or sell our products and services may decrease our sales or disrupt our
manufacturing operations, thereby adversely affecting our revenues, profitability and financial condition&rdquo; and &ldquo;Item
5G. &ldquo;Operating and Financial Review and Prospects &ndash;Recent Developments &ndash; Annual Dividend Proposal&rdquo;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&#8217;s ability to pay dividends to shareholders is subject to legal and other requirements
and restrictions in effect at the holding company level. For example, the Company may only pay dividends out of net profits, retained
earnings and distributable reserves and premiums, each as defined and calculated in accordance with Luxembourg law and regulations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>The Company&#8217;s controlling shareholder may be able
to take actions that do not reflect the will or best interests of other shareholders. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of the date of this annual report, San Faustin beneficially
owned 60.45% of our outstanding voting shares. Rocca&nbsp;&amp; Partners Stichting Administratiekantoor Aandelen San Faustin (&#8220;RP
STAK&#8221;), holds voting rights in San Faustin sufficient to control San Faustin. As a result, RP STAK is indirectly able to
elect a substantial majority of the members of the Company&#8217;s board of directors and has the power to determine the outcome
of most actions requiring shareholder approval, including, subject to the requirements of Luxembourg law, the payment of dividends.
The decisions of the controlling shareholder may not reflect the will of other shareholders. In addition, the Company&#8217;s articles
of association permit the Company&#8217;s board of directors to waive, limit or suppress preemptive rights in certain cases. Accordingly,
the Company&#8217;s controlling shareholder may cause its board of directors to approve in certain cases an issuance of shares
for consideration without preemptive rights, thereby diluting the minority interest in the Company. See &#8220;Risks Relating to
shares and ADSs &#8211; Holders of shares and ADSs in the United States may not be able to exercise preemptive rights in certain
cases&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Risks Relating to shares and ADSs </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Holders of shares or ADSs may not have access to as much
information about us as they would in the case of a domestic issuer. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There may be less publicly available information about us than
is regularly published by or about domestic issuers. Also, corporate and securities regulations governing Luxembourg companies
may not be as extensive as those in effect in other jurisdictions and U.S. securities regulations applicable to foreign private
issuers, such as the Company, differ in certain respects from those applicable to U.S. domestic issuers. Furthermore, IFRS, the
accounting standards in accordance with which we prepare our consolidated financial statements, differ in certain material aspects
from U.S. GAAP.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Holders of ADSs may not be able to exercise, or may encounter
difficulties in the exercise of, certain rights afforded to shareholders. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain shareholders&#8217; rights under Luxembourg law, including the
rights to participate and vote at general meetings of shareholders, to include items on the agenda for the general meetings of
shareholders, to receive dividends and distributions, to bring actions, to examine our books and records and to exercise appraisal
rights may not be available to holders of ADSs, or may be subject to restrictions and special procedures for their exercise, as
holders of ADSs only have those rights that are expressly granted to them in the deposit agreement. Deutsche Bank Trust Company
Americas, as depositary under the ADS deposit agreement, or the Depositary, through its custodian agent, is the registered shareholder
of the deposited shares underlying the ADSs, and therefore only the Depositary can exercise the shareholders&#8217; rights in connection
with the deposited shares. For example, if we make a distribution in the form of securities, the Depositary is allowed, at its
discretion, to sell the right to acquire those securities on your behalf and instead distribute the net proceeds to you. Also,
under certain circumstances, such as our failure to provide the Depositary with properly completed voting instructions on a timely
basis, you may not be able to vote at general meetings of shareholders by giving instructions to the Depositary. If the Depositary
does not receive voting instructions from the holder of ADSs by the prescribed deadline, or the instructions are not in proper
form, then the Depositary shall deem such holder of ADSs to have instructed the Depositary to vote the underlying shares represented
by ADSs in favor of any proposals or recommendations of the Company (including any recommendation by the Company to vote such underlying
shares on any given issue in accordance with the majority shareholder vote on that issue), for which purposes the Depositary shall
issue a proxy to a person appointed by the Company to vote such underlying shares represented by ADSs in favor of any proposals
or recommendations of the Company. Under the ADS deposit agreement, no instruction shall be deemed given and no proxy shall be
given with respect to any matter as to which the Company informs the Depositary that (i)&nbsp;it does not wish such proxy given,
(ii)&nbsp;it has knowledge that substantial opposition exists with respect to the action to be taken at the meeting, or (iii)&nbsp;the
matter materially and adversely affects the rights of the holders of ADSs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 17 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Holders of shares and ADSs in the United States may not
be able to exercise preemptive rights in certain cases. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to Luxembourg corporate law, existing shareholders
of the Company are generally entitled to preferential subscription rights (preemptive rights) in the event of capital increases
and issues of shares against cash contributions. Under the Company&#8217;s articles of association, the board of directors has
been authorized to waive, limit or suppress such preemptive subscription rights. Although the validity period of such authorization
will expire on June 5, 2020, the board of directors has convened an extraordinary meeting of shareholders to be held on June 2,
2020, which will consider the renewal of such authorization for an additional five year-period. Notwithstanding the waiver of
any preemptive subscription rights, any issuance of shares for cash within the limits of the authorized share capital shall be
subject to the pre-emptive subscription rights of existing shareholders, except (i)&nbsp;any issuance of shares (including without
limitation, the direct issuance of shares or upon the exercise of options, rights convertible into shares, or similar instruments
convertible or exchangeable into shares) against a contribution other than in cash; and (ii)&nbsp;any issuance of shares (including
by way of free shares or at discount), up to an amount of 1.5% of the issued share capital of the Company, to directors, officers,
agents, employees of the Company, its direct or indirect subsidiaries or its affiliates (or, collectively, the Beneficiaries),
including without limitation, the direct issuance of shares or upon the exercise of options, rights convertible into shares or
similar instruments convertible or exchangeable into shares, issued for the purpose of compensation or incentive of the Beneficiaries
or in relation thereto (which the board of directors shall be authorized to issue upon such terms and conditions as it deems fit).</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Holders of ADSs in the United States may, in any event, not
be able to exercise any preemptive rights, if granted, for shares underlying their ADSs unless additional shares and ADSs are registered
under the U.S. Securities Act of 1933, as amended, (&#8220;Securities Act&#8221;), with respect to those rights, or an exemption
from the registration requirements of the Securities Act is available. We intend to evaluate, at the time of any rights offering,
the costs and potential liabilities associated with the exercise by holders of shares and ADSs of the preemptive rights for shares,
and any other factors we consider appropriate at the time, and then to make a decision as to whether to register additional shares.
We may decide not to register any additional shares, requiring a sale by the Depositary of the holders&#8217; rights and a distribution
of the proceeds thereof. Should the Depositary not be permitted or otherwise be unable to sell preemptive rights, the rights may
be allowed to lapse with no consideration to be received by the holders of the ADSs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>It may be difficult to enforce judgments against us outside
Luxembourg. </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is a <i>soci&#233;t&#233; anonyme</i> organized
under the laws of Luxembourg, and most of its assets are located in other jurisdictions. Furthermore, most of the Company&#8217;s
directors and officers named in this annual report reside in different jurisdictions. As a result, investors may not be able to
effect service of process upon us or our directors or officers. Investors may also not be able to enforce against us or our directors
or officers in the investors&#8217; domestic courts, judgments predicated upon the civil liability provisions of the domestic laws
of the investors&#8217; home countries. Likewise, it may be difficult for investors not domiciled in Luxembourg to bring an original
action in a Luxembourg court predicated upon the civil liability provisions of other securities laws, including U.S. federal securities
laws, against the Company, its directors and officers. There is also uncertainty with regard to the enforceability of original
actions of civil liabilities predicated upon the civil liability provisions of securities laws, including U.S. federal securities
laws, outside the jurisdiction where such judgments have been rendered; and enforceability will be subject to compliance with procedural
requirements under applicable local law, including the condition that the judgment does not violate the public policy of the applicable
jurisdiction.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_005"></a>Item&nbsp;4.</b></td><td><b>Information on the Company</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Overview </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are the leading manufacturer of pipes and related services for
the world's energy industry and certain other industrial applications. Our manufacturing system integrates steelmaking, pipe rolling
and forming, heat treatment, threading and finishing across 18 countries. We also have a research and development (&#8220;R&amp;D&#8221;)
network focused on enhancing our product portfolio and improving our production processes. Our team, based in more than 30 countries
worldwide, is united by a passion for excellence in everything we do.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Through our integrated, worldwide network of seamless and welded
manufacturing facilities, service centers and R&amp;D centers, we work with customers to meet their needs, upholding the highest
standards of safety, quality and performance.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 18 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>A.</b></td><td><b>History and Development of the Company</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>The Company</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our holding company&#8217;s legal and commercial name is Tenaris
S.A. The Company was established as a <i>soci&#233;t&#233; anonyme</i> organized under the laws of the Grand Duchy of Luxembourg
on December&nbsp;17, 2001. The Company&#8217;s registered office is located at 26 Boulevard Royal, 4<sup>th</sup> Floor, L-2449,
Luxembourg, telephone (352)&nbsp;2647-8978. Its agent for U.S. federal securities law purposes is Tenaris Global Services (U.S.A.)
Corporation (&#8220;TEUS&#8221;), located at 2200 West Loop South, Suite 800, Houston, TX 77027.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Tenaris</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris began with the formation of Siderca S.A.I.C. (&#8220;Siderca&#8221;),
the sole Argentine producer of seamless steel pipe products, by San Faustin&#8217;s predecessor in Argentina in 1948. We acquired
Siat S.A., an Argentine welded steel pipe manufacturer, in 1986. We grew organically in Argentina and then, in the early 1990s,
began to evolve beyond this initial base into a global business through a series of strategic investments. As of the date of this
annual report, our investments include controlling or strategic interests in:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Tubos de Acero de M&#233;xico S.A. (&#8220;Tamsa&#8221;), the sole Mexican producer of seamless
steel pipe products;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Dalmine S.p.A. (&#8220;Dalmine&#8221;), a leading Italian producer of seamless steel pipe products;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Confab Industrial S.A. (&#8220;Confab&#8221;), the leading Brazilian producer of welded steel pipe
products;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">NKKTubes K.K. (&#8220;NKKTubes&#8221;), a leading Japanese producer of seamless steel pipe products;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Algoma Tubes Inc. (&#8220;AlgomaTubes&#8221;), the sole Canadian producer of seamless steel pipe products;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">S.C. Silcotub S.A. (&#8220;Silcotub&#8221;), a leading Romanian producer of seamless steel pipe products;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Maverick, a U.S. producer of welded steel pipe products;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Prudential Steel Ltd. (&#8220;Prudential&#8221;), a welded pipe mill producing OCTG, and line pipe
products in Canada;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Tenaris TuboCaribe Ltda. (&#8220;TuboCaribe&#8221;), a welded mill producing OCTG products including
finishing of welded and seamless pipes, line pipe products and a couplings facility in Colombia;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Hydril, a North American manufacturer of premium connection products for oil and gas drilling production;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">PT Seamless Pipe Indonesia Jaya (&#8220;SPIJ&#8221;), an Indonesian OCTG processing business with
heat treatment and premium connection threading facilities;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Tenaris Qingdao Steel Pipes Ltd. (&#8220;Tenaris Qingdao&#8221;), a Chinese producer of premium joints
and couplings;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Pipe Coaters Nigeria Ltd. (&#8220;Pipe Coaters&#8221;) the leading company in the Nigerian coating
industry;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: justify">Ternium S.A. (&#8220;Ternium&#8221;), one of the leading flat steel producers of the Americas with
operating facilities in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Usinas Sider&#250;rgicas de Minas Gerais S.A. (&#8220;Usiminas&#8221;), a Brazilian producer of
high quality flat steel products used in the energy, automotive and other industries;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Techgen S.A. de C.V. (&#8220;Techgen&#8221;), an electric power plant in Mexico;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">sucker rod businesses, in various countries;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 19 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Tenaris Bay City Inc. (&#8220;Tenaris Bay City&#8221;), a state-of-the-art seamless pipe mill in Bay
City, Texas; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">SSPC, a Saudi producer of welded steel pipe products.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">On January 2, 2020, we acquired IPSCO, a
North American manufacturer of seamless and welded steel pipes. For more information on IPSCO&#8217;s acquisition, see Item 5G.
&#8220;Operating and Financial Review and Prospects &#8211; Recent Developments &#8211; Acquisition of IPSCO Tubulars Inc.&#8221;,
as well as note 35 &#8220;Subsequent Events &#8211; Acquisition of IPSCO Tubulars, Inc.&#8221; and note 36 &#8220;Update as of
April 29, 2020 - Acquisition of IPSCO Tubulars, Inc.&#8221; to our audited consolidated financial statements included in this
annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Moreover, we are currently building a welded
pipe plant in West Siberia, Russian Federation as part of our joint venture with Severstal.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">In addition, we have established a global
network of pipe finishing, distribution and service facilities with a direct presence in most major oil and gas markets and a global
network of research and development centers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For information on Tenaris&#8217;s principal capital expenditures
and divestitures, see Item&nbsp;4.B. &#8220;Information on the Company &#8211; Business Overview &#8211; Capital Expenditure Program&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>B.</b></td><td><b>Business Overview</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our business strategy is to consolidate our position as a leading
global supplier of integrated product and service solutions to the energy and other industries by:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>pursuing strategic investment opportunities in order to further strengthen our presence in local and global markets;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>expanding our comprehensive range of products and developing new products designed to meet the needs of customers operating
in challenging environments;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>enhancing our Rig Direct&#174; offer of technical and pipe management services designed to enable customers to optimize their
selection and use of our products and reduce their overall operating costs; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>securing an adequate supply of production inputs and reducing the manufacturing costs of our core products.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Pursuing strategic investment opportunities
and alliances</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have a solid record of growth through strategic investments
and acquisitions. We pursue selective strategic investments and acquisitions as a means to expand our operations and presence in
select markets, enhance our global competitive position and capitalize on potential operational synergies. For example:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>In January 2019 we acquired a 47.79% interest in SSPC, a welded
steel pipes producer located in Saudi Arabia.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>In February 2019, we entered into a joint venture with Severstal and we are currently building a welded pipe
plant in West Siberia, Russian Federation.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td>In January 2020, we acquired IPSCO, a U.S. manufacturer of steel
pipes, from TMK. The acquisition price was determined on a cash-free, debt-free basis, and the amount paid in cash at the closing,
following contractual adjustments for cash, indebtedness, working capital and certain other items as estimated by the seller as
of the closing date, was US$1,067 million. The final acquisition price is subject to a contractual true-up adjustment based on
actual amounts of cash, indebtedness, working capital and certain other items as of the closing date. IPSCO&#8217;s facilities
are located mainly in the midwestern and northeastern regions of the country. IPSCO&#8217;s steel shop in Koppel, Pennsylvania,
is Tenaris&#8217;s first in the United States, providing vertical integration through domestic production of a relevant part of
its steel bar needs. Its Ambridge, Pennsylvania, mill adds a second seamless manufacturing facility and complements Tenaris&#8217;s
seamless plant in Bay City, Texas. Our track record on companies&#8217; acquisitions is described above (see &#8220;History and
Development of the Company &#8211; Tenaris&#8221;).</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Expanding our range of products</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have developed an extensive range of high-value products
suitable for most of our customers&#8217; operations using our network of specialized research and testing facilities and by investing
in our manufacturing facilities. As our customers expand their operations, we seek to supply high-value products that reduce costs
and enable them to operate safely in challenging environments, including for complex offshore and unconventional operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 20 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Enhancing our offer of technical and pipe management services
- Rig Direct&#174; - and extending their global deployment</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We continue to enhance our offer of Rig Direct&#174; services, and
extend their deployment worldwide. For many years, we have provided these services, managing customer inventories and directly
supplying pipes to their rigs on a just-in-time basis, complemented by technical advice and assistance on the selection of materials
and their use in the field, in markets like Mexico and Argentina. In response to changes in market conditions and the increased
focus of customers on reducing costs and improving the efficiency of their operations, the deployment of our Rig Direct&#174; services
was extended throughout North America and in other markets around the world (e.g. North Sea, Romania, Indonesia and, most recently,
the UAE). Through the provision of Rig Direct&#174; services, we seek to integrate our operations with those of our customers using
digital technologies to shorten the supply chain and simplify operational and administrative processes, as well as technical services
for well planning and well integrity, to reduce costs, improve safety and minimize environmental impact. They are also intended
to differentiate us from our competitors and further strengthen our relationships with customers worldwide through long-term agreements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Securing inputs for our manufacturing operations</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We seek to secure our existing sources of raw material and energy
inputs, and to gain access to new sources of low-cost inputs which can help us maintain or reduce the cost of manufacturing our
core products over the long term. We aim to achieve a vertically integrated value chain for our production. To this end, we purchase
most of our supplies through Exiros, a specialized procurement company whose ownership we share with Ternium. Exiros offers us
integral procurement solutions, supplier sourcing activities; category organized purchasing; suppliers&#8217; performance administration;
and inventory management. Moreover, since 2014, we have an agreement with our affiliates Ternium and Tecpetrol International S.A.
(&#8220;Tecpetrol&#8221;) (a wholly-owned subsidiary of San Faustin, the controlling shareholder of both Tenaris and Ternium) to
operate a natural gas-fired combined cycle electric power plant in Mexico for the supply of Tenaris&#8217;s and Ternium&#8217;s
respective Mexican industrial facilities. The company started producing energy in December 2016 with a power capacity of 900 megawatts.
For more information on the power plant, see note 12 c) &#8220;Investments in non-consolidated companies &#8211; Techgen S.A. de
C.V.&#8221; to our audited consolidated financial statements included in this annual report. For more information on the Company&#8217;s
commitments under the power plant, see item 5.E. &#8220;Operating and Financial Review and Prospects - Off-Balance Sheet Arrangements&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Our Competitive Strengths</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We believe our main competitive strengths include:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>our global production, commercial and distribution capabilities, offering a full product range with flexible supply options
backed up by local service capabilities in important oil and gas producing and industrial regions around the world;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>our ability to develop, design and manufacture technologically advanced products;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>our solid and diversified customer base and historic relationships with major international oil and gas companies around the
world, and our strong and stable market shares in most of the countries in which we have manufacturing operations;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>our proximity to our customers;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>our human resources around the world with their diverse knowledge and skills;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>our low-cost operations, primarily at state-of-the-art, strategically located production facilities with favorable access to
raw materials, energy and labor, and more than 60 years of operating experience; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>our strong financial condition.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Business Segments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris has one major business segment, &#8220;Tubes&#8221;,
which is also the reportable operating segment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Tubes segment includes the production and sale of both
seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly OCTG used in
drilling operations, and for other industrial applications with production processes that consist in the transformation of steel
into tubular products. Business activities included in this segment are mainly dependent on the oil and gas industry worldwide,
as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling activities. Demand for steel pipe
products from the oil and gas industry has historically been volatile and depends primarily upon the number of oil and natural
gas wells being drilled, completed and reworked, and the depth and drilling conditions of such wells. Sales are generally made
to end users, with exports being done through a centrally managed global distribution network and domestic sales made through
local subsidiaries. Corporate general and administrative expenses have been allocated to the Tubes segment.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 21 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The &#8220;Others&#8221; segment includes all other business activities
and operating segments that are not required to be separately reported, including the production and selling of sucker rods, industrial
equipment, coiled tubing, heat exchangers, utility conduits for buildings, and the sale of energy and raw materials that exceed
internal requirements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For more information on our business segments, see &#8220;II
C. Accounting Policies &#8211; Segment information&#8221; to our audited consolidated financial statements included in this annual
report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Our Products</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our principal finished products are seamless and welded steel
casing and tubing, line pipe and various other mechanical and structural steel pipes for different uses. Casing and tubing are
also known as oil country tubular goods (&#8220;OCTG&#8221;). We manufacture our steel pipe products in a wide range of specifications,
which vary in diameter, length, thickness, finishing, steel grades, coating, threading and coupling. For more complex applications,
including high pressure and high temperature applications, seamless steel pipes are usually specified and, for some standard applications,
welded steel pipes can also be used.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Casing</i>. Steel casing is used to sustain the walls of
oil and gas wells during and after drilling.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Tubing</i>. Steel tubing is used to conduct crude oil and
natural gas to the surface after drilling has been completed.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Line pipe</i>. Steel line pipe is used to transport crude
oil and natural gas from wells to refineries, storage tanks and loading and distribution centers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Mechanical and structural pipes</i>. Mechanical and structural
pipes are used by general industry for various applications, including the transportation of other forms of gas and liquids under
high pressure.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Cold-drawn pipe</i>. The cold-drawing process permits the
production of pipes with the diameter and wall thickness required for use in boilers, superheaters, condensers, heat exchangers,
automobile production and several other industrial applications.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Premium joints and couplings</i>. Premium joints and couplings are specially designed connections used
to join lengths of steel casing and tubing for use in high temperature or high pressure environments. A significant portion of
our steel casing and tubing products are supplied with premium joints and couplings. We own an extensive range of premium connections,
and following the integration of the premium connections business of Hydril, we have marketed our premium connection products under
the &#8220;TenarisHydril&#8221; brand name. In addition, we hold licensing rights to manufacture and sell the Atlas Bradford range
of premium connections outside the United States and, since our acquisition of IPSCO in January 2020, we now own the Ultra range
of premium connections, marketed under the &#8220;Ultra&#8221; brand, which are used mainly in US onshore applications.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Coiled tubing.</i> Coiled tubing is used for oil and gas
drilling and well workovers and for subsea pipelines.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Other products. </i>We also manufacture sucker rods used
in oil extraction activities and industrial equipment of various specifications and diverse applications, including liquid and
gas storage equipment. In addition, we produce shell and tube heat exchangers for various applications, and we sell energy and
raw materials that exceed our internal requirements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 22 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Production Process and Facilities </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We operate relatively low-cost production facilities, which
we believe is the result of:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>state-of-the-art, strategically located plants;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>favorable access to high quality raw materials, energy and labor at competitive costs;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>operating history of more than 60 years, which translates into solid industrial know-how;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>constant benchmarking and best-practices sharing among the different facilities;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>increasing specialization of each of our facilities in specific product ranges; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>extensive use of information technology in our production processes.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our seamless pipes production facilities are located in North and
South America, Europe and Asia and our welded pipes production facilities are located in North and South America and, from January
2019, in Saudi Arabia. In addition, we have tubular accessories facilities, such as sucker rods, in Argentina, Brazil, Mexico,
Romania, and the United States. We produce couplings in Argentina, China, Colombia, Indonesia, Mexico and Romania, and pipe fittings
in Mexico. In addition to our pipe threading and finishing facilities at our integrated pipe production facilities, we also have
pipe threading facilities for steel pipes manufactured in accordance with the specifications of the American Petroleum Institute
(&#8220;API&#8221;), and premium joints in the United States, Canada, China, Denmark, Ecuador, Kazakhstan, Indonesia, Nigeria,
the United Kingdom and Saudi Arabia.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table shows our aggregate installed production
capacity of seamless and welded steel pipes and steel bars at the dates indicated as well as the aggregate actual production volumes
for the periods indicated.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capacity of welded tubes in 2019 increased in respect to 2018
due to the acquisition of SSPC, while capacity of seamless tubes in 2018 increased in respect to 2017 due to the completion of
Tenaris Bay City, our state-of-the-art pipe mill in Bay City, Texas.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td>&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="11" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At&nbsp;or&nbsp;for&nbsp;the&nbsp;year&nbsp;ended&nbsp;December&nbsp;31,</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-style: italic">Thousands of tons</td><td>&nbsp;</td>
    <td colspan="3" style="text-align: center">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="text-align: center">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Steel Bars</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 46%; text-align: left; text-indent: 0.25in"><font style="font-size: 10pt">Effective Capacity (annual) <sup>(1)</sup></font></td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 14%; text-align: right">3,985</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 14%; text-align: right">3,935</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 14%; text-align: right">3,835</td><td style="width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: 0.25in">Actual Production</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,835</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,167</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,793</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Tubes &#8211; Seamless</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 0.25in"><font style="font-size: 10pt">Effective Capacity (annual) <sup>(1)</sup></font></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,300</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,300</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,680</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: 0.25in">Actual Production</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,629</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,798</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,347</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Tubes &#8211; Welded</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 0.25in"><font style="font-size: 10pt">Effective Capacity (annual) <sup>(1)</sup></font></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,980</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,620</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,620</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: 0.25in">Actual Production</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">671</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">799</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">544</td><td style="text-align: left">&nbsp;</td></tr>
</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_______________________________________________________________________________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(1)</sup></font></td><td><font style="font-size: 8pt">Effective annual production
                                         capacity is calculated based on standard productivity of production lines, theoretical
                                         product mix allocations, the maximum number of possible working shifts and a continued
                                         flow of supplies to the production process.</font></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In 2020 our production capacity - for steel bars, seamless and
welded pipes - is expected to increase due to the acquisition of IPSCO. Due to the acquisition of IPSCO, Tenaris owns its first
steel shop in the US. Furthermore, Tenaris integrated IPSCO&#8217;s seamless, welded, finishing and threading facilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Production Facilities &#8211; Tubes</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>North America</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In North America, we have a fully integrated seamless pipe manufacturing
facility, a threading plant and a pipe fittings facility in Mexico, a seamless pipe rolling mill, three welded pipe manufacturing
facilities and three threading plants in the United States, and a seamless pipe rolling mill, a welded pipe manufacturing facility
and one threading plant in Canada.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 23 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Mexico</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Mexico, our fully integrated seamless pipe manufacturing
facility is located near the major exploration and drilling operations of Pemex, about 13 kilometers from the port of Veracruz
on the Gulf of Mexico. Situated on an area of 650 hectares, the plant includes two state-of-the-art seamless pipe mills and has
an installed annual production capacity of approximately 1,230,000 tons of seamless steel pipes (with an outside diameter range
of 2 to 20 inches) and 1,200,000 tons of steel bars. The plant is served by two highways and a railroad and is close to the port
of Veracruz, which reduces transportation costs and facilitates product shipments to export markets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Veracruz facility comprises:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a steel shop, including an electric arc furnace, refining equipment, vacuum degassing, five-strand continuous caster and a
cooling bed;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a multi-stand pipe mill, including a rotary furnace, direct piercing equipment, mandrel mill with retained mandrel, sizing
mill and a cooling bed;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a premium quality finishing (&#8220;PQF&#8221;), technology mill (2<sup>&nbsp;3</sup>&#8260;<sub>8</sub> to 7 inches), including
a rotary furnace, direct piercing equipment, mandrel mill with retained mandrel, sizing mill and a cooling bed;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a pilger pipe mill, including a rotary furnace, direct piercing equipment, a reheating furnace, sizing mill and a cooling bed;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>six finishing lines, including heat treatment lines, upsetting machines and threading and inspection equipment;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a cold-drawing mill; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>an automotive components production center.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The major operational units at the Veracruz facility and the
corresponding effective annual production capacity (in thousands of tons per year, except for the auto components facility, which
is in millions of parts) as of December&nbsp;31, 2019, are as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td>&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Effective&nbsp;Annual Production&nbsp;Capacity</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>&nbsp;(thousands&nbsp;of&nbsp;tons) <sup>(1)</sup></b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 72%; text-align: left">Steel Shop</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 24%; text-align: right">1,200</td><td style="width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Pipe Production</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 9pt">Multi-Stand Pipe Mill</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">700</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 9pt">PQF Mill</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">450</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 9pt">Pilger Mill</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">80</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 9pt">Cold-Drawing Mill</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">35</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 9pt">Auto Components Facility</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">30</td><td style="text-align: left">&nbsp;</td></tr>
</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 10pt">_____________________________________________</font>&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(1)</sup></font></td><td><font style="font-size: 8pt">Effective annual production
                                         capacity is calculated based on standard productivity of production lines, theoretical
                                         product mix allocations, the maximum number of possible working shifts and a continued
                                         flow of supplies to the production process.</font></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Veracruz, located near our fully integrated seamless pipe
manufacturing facility, we have a threading plant, which produces premium connections and accessories.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition to the Veracruz facilities, we operate a manufacturing
facility near Monterrey in the state of Nuevo Le&#243;n, Mexico, for the production of weldable pipe fittings. This facility
has an annual production capacity of approximately 15,000 tons.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Mexico, beginning in April 2020, Tenaris reduced its activity
following the imposition of mandatory lockdowns, and our plants in Mexico are currently operating at technical minimums. For further
information on the status of our operations see Item 5G. &#8220;Operating and Financial Review and Prospects &#8211; Recent Developments
- The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s operations and financial condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>United States</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States we have the following production facilities:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Bay City, Texas:</i> Our 1.2 million square foot greenfield
seamless mill was inaugurated in December 2017. The facility is the result of an investment of $1.8 billion and includes a state-of-the-art
rolling mill with a capacity of approximately 600,000 tons per year (with an outside diameter range of 4 &#189; to 9 <sup>5</sup>/<sub>8</sub>
inches), as well as finishing and heat treatment lines and a logistics center.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 24 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Bay City facility comprises:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a retained mandrel
mill premium quality finishing (&#8220;PQF&#8221;);</td></tr>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               <tr style="vertical-align: top">
<td>&nbsp;</td><td>&nbsp;</td></tr>
<tr style="vertical-align: top">
<td><font style="font-family: Symbol">&#183;</font></td><td>a fully automated
intermediate warehouse;</td></tr>
<tr style="vertical-align: top">
<td>&nbsp;</td><td>&nbsp;</td></tr>
<tr style="vertical-align: top">
<td><font style="font-family: Symbol">&#183;</font></td><td>a heat treatment
line; and</td></tr>
<tr style="vertical-align: top">
<td>&nbsp;</td><td>&nbsp;</td></tr>
<tr style="vertical-align: top">
<td><font style="font-family: Symbol">&#183;</font></td><td>a finishing
line.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Hickman, Arkansas</i>: This facility, which is our main U.S.
welded production facility and covers an area of 78 hectares, processes steel coils to produce electric resistance welded (&#8220;ERW&#8221;),
OCTG and line pipe with an outside diameter range from 2<sup>&nbsp;3</sup>&#8260;<sub>8</sub> to 16 inches and has an annual production
capacity of approximately 900,000 tons. It includes:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a plant comprising two mills producing 2<sup>&nbsp;3</sup>&#8260;<sub>8</sub> through 5<sup>&nbsp;1</sup>&#8260;<sub>2</sub>
inches API products with two finishing lines and two heat treatment lines;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a plant comprising two mills producing 4<sup>&nbsp;1</sup>&#8260;<sub>2</sub> through 16 inches API products with two finishing
lines; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a coating facility coating sizes up to 16 inches.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Conroe, Texas</i>: A plant located on an area of 47 hectares which processes steel
coils to produce ERW OCTG, with an outside diameter range of 4<sup>&nbsp;1</sup>&#8260;<sub>2</sub> to 8<sup>&nbsp;5</sup>&#8260;<sub>8</sub>
inches with an annual production capacity of approximately 250,000 tons. The facility includes one mill, one heat treatment line
and one finishing line. For efficiency reasons, since December 2019, the plant is not operational.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Counce, Tennessee</i>: A plant located on an area of 54 hectares which processes steel
coils to produce line pipe with an outside diameter range of 4<sup>&nbsp;1</sup>&#8260;<sub>2</sub> to 8<sup>&nbsp;5</sup>&#8260;<sub>8</sub>
inches and has an annual production capacity of approximately 90,000 tons. The plant has one mill and a finishing line capable
of producing line pipe products. For efficiency reasons, the plant is currently not operational and these products are being produced
by our Hickman plant.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Koppel, Pennsylvania</i>: Tenaris&#8217;s first steel shop
in the United States providing vertical integration through domestic production of a relevant part of its steel bar needs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Ambridge, Pennsylvania</i>: The mill adds a second seamless
manufacturing facility and complements the Bay City facility.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Additionally, we have the following threading facilities, which
are mainly dedicated to the finishing of tubes with premium connections:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td><i>McCarty</i>: a threading facility in Houston, Texas, which comprises two main production buildings in an area of approximately
20 hectares;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td><i>Westwego</i>: a threading facility located in Louisiana. In June 2015, we suspended operations at the Westwego facility,
mainly due to the decline in drilling activity driven by the low price of oil; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td><i>Bakersfield</i>: a threading facility in California, mainly used as a repair shop.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Over the last two months, as a result of the abrupt and steep
decline in market demand for our products, our facilities in Koppel and Ambridge (PA), Brookfield (OH), Blytheville (AR), Wilder
(KY), and Odessa and Baytown (TX), have been temporarily closed until market conditions improve. In addition, Tenaris is in the
process of performing employee reductions and adjusting production levels at its other facilities in line with market demand. For
further information on the status of our operations, see Item 5G. &#8220;Operating and Financial Review and Prospects &#8211; Recent
Developments - The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s operations and financial
condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Canada</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Canada, we have a seamless steel pipe manufacturing facility
located in Sault Ste. Marie, near the mouth of Lake Superior in the province of Ontario. The facility includes a retained mandrel
mill, a stretch reducing mill and heat treatment and finishing facilities producing seamless pipe products with an outside diameter
range of 3 <sup>1</sup>/<sub>2</sub> to 9<sup>&nbsp;7</sup>&#8260;<sub>8</sub> inches. The effective annual production capacity
of the facility is approximately 300,000 tons. We use steel bars produced by our integrated facilities in Romania, Italy, Mexico
and Argentina.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We also own a welded steel pipe manufacturing facility located
in Calgary, Alberta, which processes steel coils into ERW OCTG and line pipe with an outside diameter range of 2<sup>&nbsp;3</sup>&#8260;<sub>8</sub>
to 12<sup>&nbsp;3</sup>&#8260;<sub>4</sub> inches. The facility includes a slitter, three welding lines and four threading lines.
The effective annual production capacity of this plant is approximately 400,000 tons.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 25 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, we have a threading facility in Nisku, Alberta,
near the center of Western Canadian drilling area. The facility has ten computer numerical control (&#8220;CNC&#8221;), lathes
dedicated to premium connections and accessories including related repairs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>South America</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In South America, we have a fully integrated seamless pipe facility
in Argentina. In addition, we have welded pipe manufacturing facilities in Argentina, Brazil and Colombia.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Argentina</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our principal manufacturing facility in South America is a fully
integrated plant on the banks of the Paran&#225; river near the city of Campana, approximately 80 kilometers north from the city
of Buenos Aires, Argentina. Situated on over 300 hectares, the plant includes a state-of-the-art seamless pipe facility and has
an effective annual production capacity of approximately 900,000 tons of seamless steel pipe (with an outside diameter range of
1<sup>&nbsp;1</sup>&#8260;<sub>4</sub> to 10<sup>&nbsp;3</sup>&#8260;<sub>4</sub> inches) and 1,300,000 tons of steel bars.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Campana facility comprises:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a direct reduced iron (&#8220;DRI&#8221;) production plant;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a steel shop with two production lines, each including an electric arc furnace, refining equipment, four-strand continuous
caster and a cooling bed;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>two continuous mandrel mills, each including a rotary furnace, direct piercing equipment and a cooling bed and, one of them,
also including a stretch reducing mill;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>seven finishing lines, including heat treatment lines, upsetting machines, threading and inspection equipment and make-up facilities;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a cold-drawing mill; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a port on the Paran&#225; river for the supply of raw materials and the shipment of finished products.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Argentina, until the end of January 2019 we had a 160 megawatt
power generation plant located at San Nicol&#225;s that reached the end of its useful life, which together with a smaller thermo-electric
power generating plant located within the Campana facility, was sufficient to supply the electric energy requirements of our steelmaking
facility at Campana. Currently, our energy requirements in Argentina are mainly satisfied from the local market and by the plant
located in Campana.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The major operational units at the Campana facility and corresponding
effective annual production capacity (in thousands of tons per year) as of December&nbsp;31, 2019, are as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Effective&nbsp;Annual Production&nbsp;Capacity</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>&nbsp;(thousands&nbsp;of&nbsp;tons) <sup>(1)</sup></b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%">DRI</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 20%; text-align: right">960</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Steel Shop</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 9pt">Continuous Casting I</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">530</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 9pt">Continuous Casting II</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">770</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Pipe Production</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 9pt">Mandrel Mill I</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">330</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 9pt">Mandrel Mill II</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">570</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 9pt">Cold-Drawing Mill</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">20</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">___________________________________________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(1)</sup></font></td><td><font style="font-size: 8pt">Effective annual production
                                         capacity is calculated based on standard productivity of production lines, theoretical
                                         product mix allocations, the maximum number of possible working shifts and a continued
                                         flow of supplies to the production process.</font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition to our main integrated seamless pipe facility, we also
have two welded pipe manufacturing facilities in Argentina. One is located at Valent&#237;n Alsina, south of the city of Buenos
Aires. This facility includes ERW and submerged arc welding (&#8220;SAW&#8221;), rolling mills with one spiral line. The facility
was originally opened in 1948 and processes steel coils and plates to produce welded steel pipes with an outside diameter range
of 4<sup>&nbsp;1</sup>&#8260;<sub>2 </sub>to 80 inches, which are used for the conveying of fluids at low, medium and high pressure
and for mechanical and structural purposes. The facility has an annual production capacity of approximately 350,000 tons. The other
welded facility, located at Villa Constituci&#243;n in the province of Santa Fe, has an annual production capacity of approximately
80,000 tons of welded pipes with an outside diameter range of 1 to 8 inches.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Argentina, Tenaris has reduced its activity following the
imposition of mandatory lockdowns that began on March 20, 2020; our plants in Argentina are currently operating at technical minimums.
For further information on the status of our operations see Item 5G. &#8220;Operating and Financial Review and Prospects &#8211;
Recent Developments - The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s operations and financial
condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 26 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<i>Brazil</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Brazil we have the Confab welded pipe manufacturing facility,
located at Pindamonhangaba, 160 kilometers northeast from the city of S&#227;o Paulo. This facility includes an ERW rolling mill
and a SAW rolling mill with one spiral line and one longitudinal line. The facility, which was originally opened in 1974, processes
steel coils and plates to produce welded steel pipes with an outside diameter range from 5<sup>&nbsp;1</sup>&#8260;<sub>2</sub>
to 100 inches for various applications, including OCTG and line pipe for oil, petrochemical and gas applications. The facility
also supplies anticorrosion pipe coating made of extruded polyethylene or polypropylene, external and internal fusion bonded epoxy,
thermal insulation, concrete weight coating and paint for internal pipe coating. The facility has an annual production capacity
of approximately 500,000 tons.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Colombia and Ecuador</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Colombia we have TuboCaribe, a pipe manufacturing facility in
Cartagena, on an area of 60 hectares, including a state-of-the-art finishing plant for seamless pipes. The total estimated annual
finishing capacity is approximately 250,000 tons, with an estimated annual ERW production capacity of approximately 140,000 tons.
This facility produces OCTG and line pipe products with an outside diameter range of 2<sup>&nbsp;3</sup>&#8260;<sub>8</sub> to
9<sup>&nbsp;5</sup>&#8260;<sub>8</sub> inches, and includes two ERW mills, one heat treatment line, one slotting line and three
threading lines, including premium connections capacity. Inspection lines and materials testing laboratories complete the production
facility. A 2 to 42 inches diameter multilayer coating facility complements our line pipe production facilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, we have a coupling shop with fifty-four lathes,
ten cutting machines, and two phosphatizing lines. Inspection and finishing lines complete this facility. The shop has an estimated
annual production capacity of 2.3 million pieces, including API and premium threads.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Colombia, Tenaris has reduced its activity following the
imposition of mandatory lockdowns that began on March 24, 2020, and our plant in Colombia us currently operating at technical
minimums. For further information on the status of our operations, see Item 5G. &#8220;Operating and Financial Review and Prospects
&#8211; Recent Developments - The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s operations
and financial condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Ecuador we have a threading and finishing facility with an annual
capacity of 35,000 tons, and a service center which is designed to support our RigDirect&#174; strategy, both situated in Machachi.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Europe</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Europe, we have several seamless pipe manufacturing facilities
in Italy and one in Romania and premium connection threading facilities in Denmark and the United Kingdom.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Italy</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our principal manufacturing facility in Europe is an integrated
plant located in the town of Dalmine, in the industrial area of Bergamo, about 40 kilometers from Milan in northern Italy. Situated
on an area of 150 hectares, the plant includes a state-of-the-art seamless pipe mill and has an annual production capacity of approximately
650,000 tons of seamless steel pipes and 935,000 tons of steel bars.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Dalmine facility comprises:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a steel shop, including an electric arc furnace, two ladle furnaces, two vacuum degassing and two continuous casters with their
own cooling beds;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a continuous floating mandrel mill whose operations have been suspended;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a retained mandrel mill with two in-line-high-productivity finishing lines including one heat treatment;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a rotary expander with a finishing line including a heat treatment; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>two premium connection threading lines.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 27 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The major operational units at the Dalmine facility and corresponding
effective annual production capacity (in thousands of tons per year) as of December&nbsp;31, 2019, are as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Effective&nbsp;Annual Production&nbsp;Capacity</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>&nbsp;(thousands&nbsp;of&nbsp;tons) <sup>(1)</sup></b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left">Steel Shop</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 20%; text-align: right">935</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Pipe Production</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: 0.25in">Retained Mandrel Mill Medium Diameter (plus Rotary Expander for Large Diameter)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">650</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">__________________________________________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(1)</sup></font></td><td><font style="font-size: 8pt">Effective annual production
                                         capacity is calculated based on standard productivity of production lines, theoretical
                                         product mix allocations, the maximum number of possible working shifts and a continued
                                         flow of supplies to the production process.</font></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Dalmine facility manufactures seamless steel pipes with
an outside diameter range of 146 to 711 mm (5.70 to 28.00 inches), mainly from carbon, low alloy and high alloy steels for diverse
applications. The Dalmine facility also manufactures steel bars for processing at our facilities in Italy and elsewhere.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our production facilities located in Italy have a collective
annual production capacity of approximately 800,000 tons of seamless steel pipes. In addition to the main facility mentioned above,
they include:</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>the Costa Volpino facility, which covers an area of approximately 31 hectares and comprises a cold-drawing mill and an auto
components facility producing cold-drawn carbon, low alloy and high alloy steel pipes with an outside diameter range of 12 to 380
mm (0.47 to 15 inches), mainly for automotive, mechanical and machinery companies in Europe. The Costa Volpino facility has an
annual production capacity of approximately 80,000 tons; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>the Arcore facility, which covers an area of approximately 26 hectares and comprises a Diescher mill with associated finishing
lines. Production is concentrated in heavy-wall mechanical pipes with an outside diameter range of 48 to 219 mm (1.89 to 8.62 inches).
The Arcore facility has an annual production capacity of approximately 150,000 tons.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition to these facilities, we operate a manufacturing facility
at Sabbio which manufactures gas cylinders with an annual production capacity of approximately 14,000 tons or 270,000 pieces, and
a large vessels plant inside the Dalmine facility, recently revamped, with a production capacity of around 5,000 pieces per year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to reduce the cost of electrical energy at our operations
in Dalmine, we constructed a gas-fired, combined heat and power station with a capacity of 120 megawatts in Dalmine. Our operations
in Dalmine consume most of the power generated at the power station which is designed to have sufficient capacity to meet the
electric power requirements of these operations at peak load. Excess power is sold to third-party consumers and heat is sold for
district heating.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Italy, Tenaris reduced its activity following the imposition
of mandatory lockdowns that began on March 16, 2020, and for a limited period of time our Dalmine facility was used exclusively
for the manufacturing of oxygen tanks to aid local hospitals and health centers. Over time, however, the facility is gradually
resuming operations. For further information on the status of our operations, see Item 5G. &#8220;Operating and Financial Review
and Prospects &#8211; Recent Developments - The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s
operations and financial condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Romania</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have a seamless steel pipe manufacturing facility in northwest
Romania, located in the city of Zalau, 530 kilometers from Bucharest. The facility includes a hot rolling mill and has an annual
production capacity of approximately 250,000 tons of hot rolled pipes and 210,000 tons of finished products, of which 25,000 tons
are cold drawn. The plant produces carbon and alloy steel tubes with an outside diameter range of 21.3 to 159 mm (0.839 to 6.26
inches) for hot rolled tubes and 8 to 120 mm (0.315 to 4.724 inches) for cold drawn tubes. We also have a steelmaking facility
in southern Romania, located in the city of Calarasi, with an annual steelmaking capacity of 550,000 tons, supplying steel bars
for European operations as well as to other rolling mills in our industrial system. The industrial center in Romania comprises:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a steel shop including an electric arc furnace, a ladle furnace and a continuous caster;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a floating mandrel mill;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>four finishing lines, including heat treatment lines, upsetting machine, line pipe, threading, make-up and inspection equipment
facilities;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a coupling shop;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>an accessories line;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a cold-drawing plant with finishing area; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>automotive and hydraulic cylinders components&#8217; production machinery.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>United Kingdom</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Aberdeen, we have a premium connection threading, manufacturing
and repair facility, which works as a hub to service our customers working in the North Sea region. The facility has an annual
production capacity of approximately 20,000 pieces, with a production range of 2 <sup>3</sup>/<sub>8</sub>&#8217;&#8217; to 20&#8217;&#8217;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 28 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Denmark</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Esbjerg, we have a facility for the manufacturing of casing
and tubing accessories and the provision of casing and tubing repairs, with a production range of 2 <sup>3</sup>/<sub>8</sub>&#8217;&#8217;
to 18 <sup>5</sup>/<sub>8</sub>&#8217;&#8217; and production capacity of 4,200 ends per year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Middle East and Africa</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have a threading facility for the production of premium joints
and accessories in Saudi Arabia. The facility has an annual production capacity of 120,000 tons. In 2019 we acquired a controlling
participation in SSPC, a welded steel pipe producer. SSPC operates 5 production lines and produces welded pipes for the local oil
&amp; gas industry (OCTG and Line Pipe) and for the industrial and construction sectors. Annual capacity is 360,000 tons covering
a diameter range from &#189;&#8221; to 20&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Additionally, we have a premium threading facility in Kazakhstan.
The state-of-the-art facility has the capacity to produce 45,000 tons of OCTG annually for threading seamless pipes and gas-tight
premium connections to serve the local market.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Nigeria we have a facility dedicated to the production of
premium joints and couplings located in Onne. This plant comprises a threading facility for both API and premium connections with
an annual production capacity of approximately 40,000 tons, inspection facilities and a stockyard. In addition, in October 2011,
we acquired 40% of the shares of Pipe Coaters, a leading company in the Nigerian pipe coating industry. Also, located in Onne,
Pipe Coaters supplies a wide variety of products and services for the oil and gas industry, such as internal, anticorrosion, concrete
and thermal insulation coatings for onshore and offshore (including deepwater) applications.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Asia Pacific</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our seamless pipe manufacturing facility in Asia, operated
by NKKTubes, is located in Kawasaki, Japan, in the Keihin steel complex owned by JFE Holdings Inc. (&#8220;JFE&#8221;). The
facility includes a floating mandrel mill, a plug mill and heat treatment and upsetting and threading facilities producing
seamless steel pipe products with an outside diameter range of 1 to 17 inches. The NKKTubes facility produces a wide range of
carbon, alloy and stainless steel pipes for the local market and high value-added products for export markets. The effective
annual production capacity of the facility is approximately 260,000 tons. The plant was operated by Nippon Kokan K. until its
acquisition by NKKTubes in 2000. Steel bars and other essential inputs and services are supplied under a long-term agreement
by JFE, which retains a 49% interest in NKKTubes through its subsidiary JFE Steel Corporation. On March 27, 2020, JFE
informed Tenaris of its decision to permanently cease as from JFE&#8217;s fiscal year ending March 2024 the operations of
certain of its steel manufacturing facilities and other facilities located at the Keihin complex. The closure of JFE&#8217;s
Keihin facilities may result in the unavailability of steel bars and other essential inputs or services used in
NKKTubes&#8217; manufacturing process, thereby affecting its operations. Tenaris and JFE have agreed to engage in discussions
to seek mutually acceptable solutions. We own a facility for the production of premium joints and couplings in Qingdao, on
the east coast of China. The facility has an annual production capacity of approximately 40,000 tons of premium joints.
Additionally, in 2016 we opened a facility that produces components for the local automotive industry.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, in Indonesia, we hold 89.17% of SPIJ, an Indonesian
OCTG processing business with heat treatment, premium connection threading facilities, coupling shop and a quality-testing laboratory,
including an ultrasonic testing machine, which has an annual processing capacity of approximately 120,000 tons. We also have a
premium joints accessories threading facility in the state of Batam, which we integrated to our operations following the acquisition
of Hydril.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Production Facilities &#8211; Others </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have facilities for the manufacture of sucker rods in Villa
Mercedes (San Luis, Argentina), Moreira Cesar (S&#227;o Paulo, Brazil), Veracruz (Mexico), Campina (Romania) and Conroe (Texas,
United States). Our total annual manufacturing capacity of sucker rods is approximately 3.8&nbsp;million units.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Moreira Cesar (S&#227;o Paulo, Brazil), we also have facilities
for the manufacturing of industrial equipment. In many cases, we also provide the assembly service of this equipment at the client&#8217;s
site.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Italy, we have the Piombino facility, which covers an area
of approximately 67 hectares and comprises a hot dip galvanizing line and associated finishing facilities. Production is focused
on finishing of small diameter seamless pipes for plumbing applications in the domestic market, such as residential water, gas
transport and firefighting. The Piombino facility has an annual production capacity of approximately 100,000 tons.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 29 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, we have specialized facilities in the Houston area
producing coiled tubing and umbilical tubing:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>A coiled tubing facility of approximately 150,000 square feet of manufacturing space on 4 hectares. The plant consists of two
mills and coating operations capable of producing coiled tubing products in various grades, sizes and wall thicknesses. A new continuous
heat treatment line has been recently installed.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>An umbilical tubing facility of approximately 85,000 square feet of manufacturing space on 6 hectares. The facility is capable
of producing stainless or carbon steel tubing in various grades, sizes and wall thickness.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Sales and Marketing</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Net Sales</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our total net sales amounted to $7,294 million in 2019, compared
to $7,659 million in 2018 and $5,289 million in 2017. For further information on our net sales see Item 5.A. &#8220;Operating and
Financial Review and Prospects &#8211; Results of Operations&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table shows our net sales by business segment
for the periods indicated therein:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-style: italic">Millions of U.S. dollars</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="23" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 40%">Tubes</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">6,870</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">94</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">7,233</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">94</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">4,966</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">94</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">424</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">6</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">426</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">6</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">323</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">6</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Total</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">7,294</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">7,659</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">5,289</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Tubes </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table indicates, for our Tubes business segment,
net sales by geographic region:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="23" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-style: italic">Millions of U.S. dollars</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap; font-weight: bold">Tubes</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 40%; text-align: left">- North America</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">3,307</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">48</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">3,488</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">48</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">2,362</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">48</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">- South America</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,240</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">18</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,284</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">18</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">982</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">20</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>- Europe</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">641</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">9</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">628</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">9</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">497</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">10</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">- Middle East &amp; Africa</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,337</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">19</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,541</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">21</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">921</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">19</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">- Asia Pacific</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">345</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">5</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">292</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">4</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">204</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">4</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Total Tubes</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">6,870</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">7,233</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">4,966</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>North America</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales to customers in North America accounted for 48% of our
sales of tubular products and services in 2019, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have significant sales and production facilities in each of
the United States, Canada and Mexico, where we provide customers with an integrated product and service offering based on local
production capabilities supported by our global industrial system. In the past few years, we have extended our integrated product
and service model, which we call Rig Direct&#174;, throughout North America, and in late 2017, we started operations at our seamless
pipe mill at Bay City, Texas, which is strategically located to serve the Eagle Ford and Permian regions. Under Rig Direct&#174;,
we manage the whole supply chain from the mill to the rig for customers under long-term agreements, integrating mill production
with customer drilling programs, reducing overall inventory levels and simplifying operational processes. We first introduced the
Rig Direct&#174; model to Pemex in Mexico in 1994, and since then we have supplied them with pipes on a just-in-time basis. At the
end of 2019, we supplied the majority of our U.S. and Canadian customers for OCTG products with Rig Direct&#174; services. On January
2, 2020, we completed the acquisition of IPSCO Tubulars, which will further strengthen our local production capabilities and capacity
to provide Rig Direct&#174; services in the United States.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales to our oil and gas customers in the United States and Canada
are highly sensitive to oil prices and regional natural gas prices. In the past few years, the drilling of productive shale gas
and tight oil reserves, made possible by new drilling technology, has transformed drilling activity and oil and gas production
in the United States and Canada. Following 25 years of declining production, U.S. crude oil production began to increase in 2009
and has risen significantly, from 5.6 million b/d in 2011 to 12.8 million b/d at the end of 2019. Production of natural gas liquids
(&ldquo;NGLs&rdquo;) has also increased significantly in the past few years in North America. This rapid increase in production,
however, contributed to an excess of supply in the global oil market in 2014 and a consequent collapse in the price of oil, as
other producers, were for a time unwilling to adjust their production levels to balance the market. Further rapid increases in
production in 2018 and 2019 led to OPEC member country producers and other producers agreeing to cut production to balance the
market and support oil prices. In 2020, however, the impact of the COVID-19 pandemic has led to a substantial reduction in global
oil demand in the first quarter. In March 2020, the members of OPEC+ (OPEC plus other major oil producers including Russia) did
not agree to extend their agreement to cut oil production and Saudi Arabia precipitated a wave of additional supply on the market
triggering a collapse in oil prices below $30 per barrel. This exacerbated what soon became clear was an unprecedented situation
of oversupply, caused primarily by the sudden and dramatic fall in oil consumption consequent to the measures taken to contain
the spread of the virus around the world. Although OPEC+ subsequently reached an equally unprecedented agreement to cut production
by as much as 9.7 million barrels per day, a situation of acute oversupply remains, causing oil prices to hit record lows. By the
end of trading on April 20, 2020, the West Texas Intermediate (WTI) forward price for delivery in May, which had to be closed out
the following day, fell to a negative value for the first time in history, as oil storage facilities were completely committed,
and producers were forced to pay buyers to take their barrels. At the same time, U.S. shale producers are finding it more difficult
to access financial markets to finance production growth and are having to deleverage their balance sheets, and the financial condition
of many smaller producers is under threat.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 30 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Natural gas production has risen rapidly over the past few years
and the U.S. became a net exporter of natural gas for the first time in 2017 and has now become a significant exporter of LNG to
global markets. In Canada, there has been a similar shift towards drilling of shale gas and tight oil reserves.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The drop in oil prices in the second half of 2014 led to a drastic
reduction in drilling activity throughout North America until the second half of 2016 when activity began to recover in the United
States and Canada as a result of sharply lower production costs and more stable oil prices. In 2017 and 2018, drilling activity
recovered and oil and gas production increased in the United States and Canada but declined throughout 2019, in response to a drop
in oil prices at the end of 2018 and producers reducing drilling budget as they focused on balancing cash flows.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Demand for, and our sales of, OCTG products in the United States and
Canada plummeted in 2015 and 2016, to less than a quarter of the level reached in 2014, affected by high inventory levels as well
as the collapse of drilling activity. In 2017 and 2018, however, demand and sales recovered strongly as drilling activity increased
and inventory levels returned to more normal levels. In 2019, however, demand and sales declined, as U.S. rigs decreased by approximately
25% in the year. During the first months of 2020 U.S. rig count declined by more than 40%, reaching its lowest level since 2016.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During 2018, the U.S. government introduced Section 232 tariffs
and quotas on the imports of steel products, including steel pipes, with the objective of strengthening domestic production capacity
utilization and investment. The proportion of the OCTG market supplied by imports has declined from around 60% prior to the imposition
of tariffs and quotas to around 35% at the end of 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our sales in the United States are also affected by the level of
investment of oil and gas companies in exploration and production in offshore projects. The blow-out at the Macondo well in the
Gulf of Mexico and the subsequent spillage of substantial quantities of oil resulted in a moratorium that halted drilling activity.
The drilling moratorium was lifted in October 2010, when new regulations affecting offshore exploration and development activities
were announced. Since then, drilling activity recovered but, with the 2014 fall in oil prices, drilling activity declined.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Oil and gas drilling in Canada is subject to strong seasonality,
with the peak drilling season in Western Canada being during the winter months when the ground is frozen. During the spring, as
the ice melts, drilling activity is severely restricted by the difficulty of moving equipment in muddy terrain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Mexico, we have enjoyed a long and mutually beneficial relationship
with Pemex, the Mexican state-owned oil company, and one of the world&rsquo;s largest crude oil and condensates producers. In 1994,
we began supplying Pemex with Rig Direct&reg; services. In early 2018, we renewed our just in time agreement with Pemex for an
additional five-year period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At the end of 2013,&nbsp;Mexico reformed its constitution to
allow increased private and foreign investment in the energy industry. Pursuant to these reforms, foreign and private investors
are allowed to participate in profit and production sharing contracts and licenses and Pemex has been transformed into a state-owned
production company, but ceased having a monopoly on production. In addition, a new regulatory framework&nbsp;was&nbsp;developed
and contracts with foreign and private investors&nbsp;were&nbsp;awarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following the 2014 decline in oil prices, drilling activity
in Mexico and demand for our OCTG products plummeted as the financial condition of Pemex has deteriorated and the impact of investments
from the energy reform process in Mexico had yet to take effect. In 2019, however, drilling activity at Pemex recovered as the
Mexican government has increased funding available for the company as part of a policy of arresting and reversing production decline
and investments from the reform process have proceeded. The new government, however, has halted further progress on the energy
reform process and the financial condition of Pemex remains under stress.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 31 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>South America </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales to customers in South America accounted for 18% of our
sales of tubular products and services in 2019, compared to 18% in 2018 and 20% in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our largest market in South America is Argentina. We also have
significant sales in Brazil and Colombia.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have manufacturing subsidiaries in Argentina, Brazil and
Colombia.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our sales in South America are sensitive to the international
price of oil and its impact on the drilling activity of participants in the oil and gas sectors, as well as to general economic
conditions in these countries. In addition, sales in Argentina, as well as export sales from our manufacturing facilities in Argentina,
are affected by governmental actions and policies, such as the taxation of oil and gas exports, measures affecting gas prices in
the domestic market and other matters affecting the investment climate. Sales in Brazil are also affected by governmental actions
and policies and their consequences, such as measures relating to the taxation and ownership of oil and gas production activities
and the operations of Petr&#243;leo Brasileiro S.A. (&#8220;Petrobras&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A principal component of our marketing strategy in South American
markets is the establishment of long-term supply agreements and Rig Direct&#174; services with national and international oil and
gas companies operating in those markets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Argentina, we have a significant share of the market for OCTG
products. We have longstanding business relationships with YPF S.A. (&#8220;YPF&#8221;), the Argentine state-controlled company,
and with other operators in the oil and gas sector. We strengthened our relationship with YPF in 2013 through a long-term business
alliance, which we renewed for an additional five- year term at the beginning of 2018, under which we provide Rig Direct&#174; services
with the objective of reducing YPF&#8217;s operational costs as it aims to increase production through investments in Argentina&#8217;s
shale oil and gas reserves. In spite of the 2014 drop in international oil prices, drilling activity was sustained for most of
2015 and 2016 before falling significantly at the end of 2019, when drilling in the southern part of the country came to a halt.
The administration that took office in December 2015 introduced significant changes in domestic energy policies, including the
gradual normalization of domestic gas and energy prices, encouraging investment in the Vaca Muerta shale play, which is considered
to be one of the world&#8217;s most promising unconventional reserves. In 2018, there was a significant increase in investments
in Vaca Muerta, led by Tecpetrol&#8217;s investment in the Fortin de Piedra gas resource. 2019 started with a high activity level,
but our sales started to fall after the primary presidential elections held in august (&#8220;PASO&#8221;). After August, fuel
prices did not maintain their path of adjustment with international prices, and there still persists a large uncertainty regarding
the energy framework to be implemented by the new government.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Brazil, we have a longstanding business relationship with
Petrobras. We supply Petrobras with casing (including premium connections) and line pipe products, most of which are produced in
our Brazilian welded pipe facility, for both offshore and onshore applications. With the development of Brazil&#8217;s deepwater
pre-salt complex, our mix of products sold in Brazil has evolved from one including mainly line pipe for onshore pipeline projects
to one which includes large diameter conductor and surface casing and line pipe for use in deepwater applications. Consumption
of OCTG products in Brazil stabilized over the past three years, after falling in the period 2014-2016 as Petrobras had reduced
its investments in response to budgetary constraints, concentrating on developing its most productive reserves in the pre-salt
fields and halting other investments. Demand for line pipe for pipeline projects has declined to very low levels with only one
major project implemented in the past five years. In response to market-opening measures and the attractiveness of the deepwater
reserves, major oil companies have increased their investments in Brazil while Petrobras is planning to increase its investments
which could lead to increased activity in 2020 and future years. Our sales in the local market are currently mostly concentrated
on large diameter conductors and surface casing with connectors for the pre-salt and other offshore developments, as well as smaller
diameter casing for use in offshore and in the remaining onshore exploration and production activity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Colombia, we have established a leading position in the market
for OCTG products since 2006, following our acquisition of TuboCaribe, a welded pipe manufacturing facility located in Cartagena.
Although the market grew rapidly when oil prices were high as the country encouraged investment in its hydrocarbon industry and
opened its national oil company to private investment, drilling activity in Colombia was deeply affected by the 2014 collapse in
oil prices and fell to a very low level in 2016. However, activity has recovered in the past three years in response to higher
oil prices. Our principal customer in Colombia is Ecopetrol S.A., which we supply with Rig Direct&#174; services and with whom we
renewed a long-term agreement in the beginning of 2018. We have recently strengthened our industrial position in Colombia through
investing in the installation of modern heat treatment, pipe threading and processing facilities which enables us to serve this
market with more local industrial content and our customers with more efficient Rig Direct&#174; services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 32 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Guyana, the new Lisa deepwater offshore play is being developed
and, since 2018, we have been providing casing for the development wells in this play under Rig Direct&#174; conditions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We also have sales in Ecuador, supplying Petroamazonas, the national
oil company, as well as private operators. To increase local content, we have established a local OCTG threading facility in Machachi.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have been present in the Venezuelan OCTG market for many years
and we maintained business relationships with Petr&#243;leos de Venezuela S.A. (&#8220;PDVSA&#8221;) and the joint venture operators
in the oil and gas sector until the implementation of the OFAC sanctions. Additionally, we maintained business relationships with
Chevron in Venezuela until April 22, 2020, when their general License 8E of the sanctions expired. Our sales in Venezuela, however,
have declined to a low level and we do not foresee any significant recovery at this time.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Europe </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales to customers in Europe accounted for 9% of our sales of
tubular products and services in 2019, compared to 9% in 2018 and 10% in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our single largest country market in Europe is Italy. The market
for steel pipes in Italy (as in much of the European Union) is affected by general industrial production trends, especially in
the mechanical and automotive industry, and by investment in power generation, petrochemical and oil refining facilities. Sales
to the mechanical and automotive industries and for HPI and power generation projects in Italy and the rest of Europe over the
past three years have been affected by lower prices reflecting increased competitive pressures, but volumes have been relatively
stable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Europe we also have significant sales to the oil and gas
sector, particularly in the North Sea. Demand from this market is affected by oil and gas prices in the international markets and
their consequent impact on oil and gas drilling activities in the North Sea and other areas, like Romania. In addition, U.S. and
European sanctions are affecting demand for our premium pipe products in Russia and limited exploration success in unconventional
shale plays in Eastern Europe has led international operators to cut back on their investments in this area.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In February 2019, we announced the formation of a joint venture
with Severstal, a leading Russian flat steel producer, to build and operate a welded pipe mill to manufacture OCTG products in
Surgut, Western Siberia, which is expected to begin production in late 2021. Our share in the joint venture is 49%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Middle East and Africa </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales to customers in the Middle East and Africa accounted for
19% of our sales of tubular products and services in 2019, compared to 21% in 2018 and 19% in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our sales in the region remain sensitive to international prices
of oil and gas and their impact on drilling activities as well as to the production policies pursued by OPEC, many of whose members
are located in this region. In the past few years, oil and gas producing countries in the Middle East, led by Saudi Arabia, have
increased investments to develop gas reserves to fuel regional gas-based industrial development, which have positively affected
their consumption of premium OCTG products. Saudi Arabia, in particular, has shown strong growth in sour and high pressure gas
field drilling activity. They have also maintained and, in some cases, increased investments to offset decline and add oil production
capacity. Additionally, in the eastern Mediterranean, vast reserves of natural gas have been discovered, some of which have been
targeted for fast track development. In Africa, international oil companies increased investments in exploration and production
in offshore projects in 2012 and 2013 but began to postpone or reduce their investment commitments in 2014 due to the high cost
of offshore project developments and a lower success rate in exploration activity. Since 2015, following the oil price collapse,
exploration activity has been sharply cut back and major project commitments have been postponed. The effect on demand was compounded
by the high inventory levels held in the region.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the past few years, uprisings affected drilling activity
in countries such as Syria, Libya and Yemen and, in the case of Libya, the oil and gas industry was effectively shut down in 2011.
In addition, in recent years, U.S. and E.U. sanctions have affected production and exports in Iran.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our sales in the Middle East and Africa could be adversely affected
by political and other events in the region, such as armed conflicts, terrorist attacks and social unrest, that could materially
impact the operations of companies active in the region&#8217;s oil and gas industry. Our sales in the region can also be affected
by the levels of inventories held by the principal national oil companies in the region and their effect on purchasing requirements.
For example, Saudi Aramco, after purchasing pipes in excess of its consumption requirements in 2013 and the first half of 2014,
subsequently substantially reduced purchases during the second half of 2014 and throughout 2015, notwithstanding increased drilling
activity, as it reduced inventory levels. In 2017 and 2018, purchasing was more in line with consumption patterns, but recently
Saudi Aramco has begun a destocking process which will affect demand through 2020.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 33 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Over the past three years our sales in the Middle East have
been relatively stable but sales in sub-Saharan Africa have been affected by the slowdown in drilling activity and investments
in deepwater projects. On the other hand, our sales in the second half of 2017 and throughout 2018 were boosted by sales of line
pipe for offshore gas projects in the Eastern Mediterranean. In 2018, these sales came to a peak amounting to 8% of total sales,
which is unlikely to be repeated in the near future.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In January 2019, we completed the acquisition of 47.79% of
SSPC, a listed welded steel pipe producer in Saudi Arabia. SSPC produces OCTG, line pipe and commercial pipe products mainly for
the local market. It is qualified to supply Saudi Aramco for certain products. Through this investment, Tenaris is increasing
its local industrial presence in an important oil and gas market where policies are being implemented to diversify the economy
and increase local manufacturing. In February 2020, SSPC was awarded a recognition by Saudi Aramco for having the highest local
content of any local pipe producer in Saudi Arabia.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In August 2019 we were awarded a long-term agreement with Rig Direct&#174;
conditions, valued at $1.9 billion, to supply approximately half of Abu Dhabi National Oil Company&#8217;s (&#8220;ADNOC&#8221;)
OCTG requirements in Abu Dhabi over the next five to seven years. In order to serve this market, we will expand our local service
base and construct a new premium OCTG threading facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Asia Pacific</I></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales to customers in the Asia Pacific accounted for 5% of our
sales of tubular products and services in 2019, compared to 4% in 2018 and 4% in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have a significant presence in the region with local production
facilities in Indonesia, China and Japan and, in recent years, we have established service centers in Australia and Thailand.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales to Indonesia and other markets in South East Asia and
Oceania are mainly affected by the level of oil and gas drilling activity, particularly offshore drilling activity. The collapse
in the price of oil has deeply affected drilling activity and our sales throughout the region, where drilling is mainly onshore.
In 2016, however, we won a significant long-term agreement to provide pipes with Rig Direct&#174; services in Thailand which has
made Thailand our largest market in the region. Our future sales in Thailand, however, will be affected by recent changes in the
ownership of oil and gas development concessions and the conclusion of this long-term agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our sales in China are concentrated on premium OCTG products
used in oil and gas drilling activities. Over the past years, China has significantly reduced its imports of OCTG products as local
producers compete ferociously in an oversupplied market. We continue, however, to seek new markets in niche applications and in
2016 we opened a components facility for processing pipes for use in airbags for automotives. More recently, we have begun to supply
pipes under a Rig Direct&#174; contract for a shale gas operation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Japan, our subsidiary, NKKTubes, competes against other domestic
producers. The market for steel pipe products in Japan is mostly industrial and depends on general factors affecting domestic investment,
including production activity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Others </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our other products and services include sucker rods used in oil
extraction activities, coiled tubes used in oil and gas extraction activities, industrial equipment of various specifications and
for diverse applications, sales of pipe for construction activities from our Italian Piombino mill, sales of raw materials and
energy that exceed our internal requirements and heat exchangers. In January 2017, we sold our electrical conduit pipes business
in the United States. Net sales of other products and services amounted to 6% of total net sales in 2019 and 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Competition </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The global market for steel pipe products
is highly competitive. Seamless steel pipe products, which are used extensively in the oil and gas industry particularly for offshore,
high pressure, high stress and other complex applications, are produced in specialized mills using round steel billets and specially
produced ingots. Welded steel pipe products are produced in mills which process steel coils and plates into steel pipes. Steel
companies that manufacture steel coils and other steel products but do not operate specialized seamless steel mills are generally
not competitors in the market for seamless steel pipe products, although they often produce welded steel pipes or sell steel coils
and plates used to produce welded steel pipes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<!-- Field: Page; Sequence: 34 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The production of steel pipe products following
the stringent requirements of major oil and gas companies operating in offshore and other complex operations requires the development
of specific skills and significant investments in manufacturing facilities. By contrast, steel pipe products for standard applications
can be produced in most seamless pipe mills worldwide and sometimes compete with welded pipe products for such applications including
OCTG applications. Welded pipe, however, is not generally considered a satisfactory substitute for seamless steel pipe in high-pressure
or high-stress applications.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Over the past decade, substantial investments
have been made, especially in China but also in other regions around the world, to increase production capacity of seamless steel
pipe products. Production capacity for more specialized product grades has also increased. With the downturn between 2014 and 2016
in the price of oil and demand for tubes for oil and gas drilling, the overcapacity in steel pipe and seamless steel pipe production
worldwide has become acute, and now extends beyond commodity grades. The competitive environment has, as a result, become more
intense, and we expect that this will continue for some time. Effective competitive differentiation will be a key factor for Tenaris.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Our principal competitors in steel pipe markets
worldwide are described below.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Vallourec S.A. (&#8220;Vallourec&#8221;), a French company, has mills
in Brazil, China, Germany and the United States. Vallourec has a strong presence in the European market for seamless pipes for
industrial use and a significant market share in the international market with customers primarily in Europe, the United States,
Brazil, China, the Middle East and Africa. Vallourec is an important competitor in the international OCTG market, particularly
for high-value premium joint products, where it operates a technology partnership for VAM<sup>&#174;</sup> premium connections with
Nippon Steel &amp; Sumitomo Metal Corporation (&#8220;NSSMC&#8221;). Prior to the collapse in oil prices in 2014 to 2016, Vallourec
increased its production capacity by building mills in Brazil (jointly with NSSMC) and, Youngstown, Ohio, acquiring three tubular
businesses in the United States and Saudi Arabia, concluding and agreement with a Chinese seamless steel producer, Tianda Oil Pipe
Company (&#8220;Tianda&#8221;) to distribute products from Tianda in markets outside China. In early 2016, in response to accumulating
losses, Vallourec announced a $1 billion capital increase, more than half of which was provided by a French government fund and
NSSMC, who each agreed to increase their equity participation to 15%. At the same time, an industrial restructuring program was
announced under which Vallourec reduced capacity in Europe, closing its rolling mills in France, combined its operations in Brazil
with that of the new mill held with NSSMC, acquired a majority position in Tianda and bought out the remaining minority interest,
and strengthened its cooperation with NSSMC for the development and testing of premium connection products and technology. Despite
this restructuring program, Vallourec&#8217;s losses have continued through 2019 and, in February 2020, it announced a further
capital increase of $0.8 billion to take place later this year, to which the French government fund has agreed to subscribe in
proportion to its existing shareholding while NSSMC has agreed to subscribe a less than proportional amount and reduce its shareholding
to 10%.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Japanese players NSSMC and JFE together enjoy a significant share of the international market, having
established strong positions in markets in the Far East and the Middle East. They are internationally recognized for their supply
of high-alloy grade pipe products. In recent years, NSSMC has increased its capacity to serve international markets through the
construction with Vallourec of a new seamless pipe mill in Brazil, and has further strengthened its ties with Vallourec through
participating in Vallourec&#8217;s 2016 capital increase and combining their respective Brazilian operations.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">In recent years, TMK, a Russian company, has led consolidation of the
Russian steel pipe industry, invested to modernize and expand its production capacity in Russia and expanded internationally through
acquisitions into Eastern Europe and the United States where it acquired a significant position in the U.S. market through its
acquisition of IPSCO&#8217;s tubular operations. In 2012, TMK opened a research and development center in Houston and has been
expanding its capacity to produce premium connection products. TMK also expanded in the Middle East through the acquisition of
a controlling interest in Gulf International Pipe Industry LLC (&#8220;Gulf International Pipe&#8221;), a welded pipe producer
in Oman. More recently, however, TMK adopted a strategy of monetizing its international assets by reducing its participation in
Gulf International Pipe and selling IPSCO to Tenaris.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 35 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Over the past two decades, Chinese producers increased production capacity substantially and strongly
increased their exports of steel pipe products around the world. Due to unfair trading practices, many countries, including the
United States, the European Union, Canada, Mexico and Colombia, have imposed anti-dumping restrictions on Chinese imports to those
regions. The largest Chinese producer of seamless steel pipes, Tianjin Pipe (Group) Corporation Limited (&#8220;TPCO&#8221;), announced
a plan in 2009 to build a new seamless pipe facility in the United States; heat treatment and pipe finishing facilities have been
constructed and steelmaking and hot rolling facilities are currently under construction in Corpus Christi, Texas. Although producers
from China compete primarily in the &#8220;commodity&#8221; sector of the market, some of these producers, including TPCO, have
been upgrading their facilities and processes with the intention of entering into the market for more specialized products.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">The tubes and pipes business in the United States and Canada have
experienced a significant consolidation process. Following the acquisitions of Maverick and Hydril by Tenaris and the earlier acquisition
of North Star Steel by Vallourec, U.S. Steel Corporation acquired Lone Star Steel Technologies. In 2008, Evraz Group S.A. (&#8220;Evraz&#8221;)
and TMK, two Russian companies, acquired IPSCO&#8217;s Tubular division, with Evraz retaining IPSCO&#8217;s operations in Canada
and TMK acquiring IPSCO&#8217;s operations in the United States. More recently, however, many new players have built, or announced
plans to build, pipe mills in the United States. These include, in addition to TPCO, Boomerang LLC, a company formed by a former
Maverick executive that opened a welded pipe mill in Liberty, Texas, in 2010; Benteler International A.G. (&#8220;Benteler&#8221;),
a European seamless pipe producer that built a new seamless pipe mill in Louisiana, which opened in September 2015; and OCT Pipe,
LLC, a company building a seamless pipe mill with heat treatment and OCTG threading facilities in Norfolk, Nebraska. North American
pipe producers are largely focused on supplying the U.S. and Canadian markets, where they have their production facilities. In
January 2020, TMK completed the sale of IPSCO to Tenaris.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Korean welded pipe producers, who have a limited domestic market, have expanded capacity in recent
years and targeted the U.S. market for standard applications. They have gained a relevant market position, despite the application
of anti-dumping duties for unfair trading practices and being subject to Section 232 quotas.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">Tubos Reunidos S.A. (&#8220;Tubos Reunidos&#8221;) of Spain, Benteler International A.G. of Germany
and Voest Alpine A.G. of Austria each have a significant presence in the European market for seamless steel pipes for industrial
applications, while the latter also has a relevant presence in the U.S. and international OCTG markets, and in 2016, Tubos Reunidos
opened an OCTG threading facility targeting international markets. In 2006, ArcelorMittal S.A. (&#8220;ArcelorMittal&#8221;) created
a tubes division through several acquisitions and has mills in North America, Eastern Europe, Venezuela, Algeria and South Africa
and has built a seamless pipe mill in Saudi Arabia.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">In the Middle East, particularly in Saudi Arabia, which has implemented
policies to encourage local production for its oil and gas industry, a number of pipe mills have been established including a seamless
pipe mill built by Jubail Energy Services Company (&#8220;JESCO&#8221;), a company established with majority participation from
a state-backed industrial development company, and a seamless pipe mill built by ArcelorMittal. These local players have been strengthening
their capabilities and are taking an increasing share of the pipes supplied to Saudi Aramco as well as exporting to other countries
in the Middle East and the rest of the world. In January 2019, Tenaris acquired a controlling 47.79% participation in SSPC, a local
welded pipe producer.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Producers of steel pipe products can maintain strong competitive
positions in markets where they have their pipe manufacturing facilities due to logistical and other advantages that permit them
to offer value-added services and maintain strong relationships with domestic customers, particularly in the oil and gas sectors.
Our subsidiaries have established strong ties with major consumers of steel pipe products in their home markets, reinforced by
Rig Direct&#174; services, as discussed above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Capital Expenditure Program</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2019, our capital expenditures,
including investments at our plants and information systems (IT), amounted to $350 million, compared to $349 million in 2018 and
$558 million in 2017. Of these capital expenditures, 2019 investment at our plants reached $314 million compared to $318 million
in 2018 and $525 million in 2017.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2019 we focused on enhancing automation and digitalization of
our industrial processes, improvements on safety and environmental issues, product differentiation and competitiveness.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The major highlights of our capital spending
program during 2019 included: investments in our three-year global automation plan covering all of our industrial system worldwide;
new equipment and related infrastructure to improve safety conditions at our entire industrial system; the revamping of the shaft
furnace at the DRI plant, the expansion of the dedusting system capacity at the steel shop (still ongoing) and a capacity increase
of the component center at our Campana mill in Argentina; the completion of the steel shop fumes dedusting and cooling systems
project, the handling revamping - including range extension to 3.8 tons/pcs- of the multi-stand plug mill (&#8220;MPM&#8221;)
hot rolling mill, innovative solutions at the Non-Destructive Tests (&#8220;NDTs&#8221;) of the FAT2 finishing lines and increase
of threading capacity at the couplings plant at our Veracruz Facility in Mexico; the consolidation of the new heat treatment plant,
the revamping of the main ultrasonic test equipment, and an innovative NDT inspection system for the expander mill production
line at our Dalmine facility in Italy; the revamping of the threading and phosphatizing lines in our McCarty facility in the US;
the steel shop capacity increase of our Calarasi plant which is still on going, the installation of a new airbag production line
with full automatic inspection system at our mill in Zalau, Romania and the installation of a new service center in Pindamonhangaba,
Brasil.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 36 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Our capital expenditure programs are being
reviewed to address short-term changes in business conditions, <font style="font-family: Times New Roman, Times, Serif">and </font>capital
expenditures in 2020 are expected to be significantly lower than the level of 2019: they will include the completion of some of
the projects started in 2019 described above, as well as the construction of a new premium threading plant in Abu Dhabi as required
under an agreement with ADNOC. Furthermore, as part of the ongoing integration of IPSCO, we will assess whether any investments
are necessary at the newly acquired business.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to capital expenditures at
our plants, we have invested in information systems for the integration of our production, commercial and managerial activities,
together with investments in cybersecurity for the protection of our information technology and our industrial systems. These investments
are intended to promote the further integration of our operating facilities and enhance our ability to provide value-added services
to customers worldwide. Investments in information systems totaled $35 million in 2019, compared to $32 million in 2018 and $28
million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Raw Materials and Energy </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The majority of our seamless steel pipe products are manufactured
in integrated steelmaking operations using the electric arc furnace route, with the principal raw materials being steel scrap,
DRI, hot briquetted iron (&#8220;HBI&#8221;), pig iron and ferroalloys. In Argentina we produce our own DRI from iron ore using
natural gas as a reductant. Our integrated steelmaking operations consume significant quantities of electric energy, purchased
from the local market. Our welded steel pipe products are processed from purchased steel coils and plates. Although the weight
of the different steelmaking raw materials and steel, vary among the different production facilities in our industrial system,
depending on the specifications of the final products and other factors, on average steel scrap, pig iron, HBI and DRI represent
approximately 23% of our steel pipe products&#8217; costs, while steel in the form of billets or coils represents approximately
17%, with direct energy accounting for approximately 4%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The above raw material inputs are subject to price volatility
caused by supply, political and economic situations, financial variables and other unpredictable factors. For further information
on price volatility, see Item&nbsp;3.D. &#8220;Key Information &#8211; Risk Factors &#8211; Risks Relating to Our Industry &#8211;
Increases in the cost of raw materials, energy and other costs, limitations or disruptions to the supply of raw materials and energy,
and price mismatches between raw materials and our products may hurt our profitability&#8221;. The costs of steelmaking raw materials
and of steel coils and plates generally decreased in 2019 in comparison to 2018, continuing with high levels of volatility, with
the exception of iron ore prices, which rose affected by supply restrictions following Vale&#8217;s Brumadinho mine incident discussed
below.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Steel scrap, pig iron and HBI</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Steel scrap, pig iron and HBI for our steelmaking operations
are sourced from local, regional and international sources. In Argentina we produce our own DRI and source ferrous scrap domestically
through a wholly owned scrap collecting and processing subsidiary. In Italy we purchase pig iron and ferrous scrap from local and
regional markets. In Mexico we import our pig iron and HBI requirements and purchase scrap from domestic and international markets.
In Romania we source ferrous scrap mainly from the domestic market and we import pig iron.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">International prices for steel scrap, pig iron and HBI can vary
substantially in accordance with supply and demand conditions in the international steel industry. Overall costs for these materials
decreased in 2019, following a decline in world steel prices near the end of 2018. As a reference, prices for Scrap Shredded U.S.
East Coast, published by CRU, averaged $335 per ton in 2018 and $274 per ton in 2019, ascending to levels around $286 per ton at
the beginning of 2020.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Iron ore</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consume iron ore in the form of pellets, for the production
of DRI in Argentina. Siderca&#8217;s annual consumption of iron ore during 2019 was approximately 625,000 tons, supplied mainly
from Brazil by&nbsp;Vale International S.A.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 25, 2019, Vale&#8217;s Brumadinho mine dam collapsed
resulting in the death of 300 people. Consequently, the Brazilian government shut down other mines with similar structures, reducing
the iron ore market supply by 90 million tons. As a result of such reduced iron ore supply and strong demand from China, iron
ore IODEX 62% Fe (CFR North China) prices spiked above 120 USD/ton, a 5-year high. As mines were cleared to operate again, prices
settled around 90 USD/ton, with an annual average of 93.4 USD/ton, a 34% year on year increase.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 37 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the first half of 2019, iron ore direct reduction (&#8220;DR&#8221;)
grade pellet premiums continued to grow as the previous year. However, in the second half of the year demand dropped due to high
prices and lower steel production from EU, pressuring premiums to lower levels. Platts DR grade pellet premium averaged 62 USD/ton
in 2019, fluctuating between 39 and 76 USD/ton.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Round steel bars</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We mainly satisfy our steel bars and ingots requirements with
materials produced in our steelmaking facilities in Romania, Italy, Mexico and Argentina. We complement this internal supply with
purchases of steel bars and ingots from third parties as required, and particularly for use in our seamless steel pipe facilities
in Japan, Canada, Mexico and the USA.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Japan, we purchase these materials from JFE, our partner
in NKKTubes. These purchases are made under a supply arrangement pursuant to which the purchase price varies in relation to changes
in the cost of production. As a result of their location within a larger production complex operated by the supplier, our operations
in Japan are substantially dependent on these contracts for the supply of raw materials and energy. JFE uses imported iron ore,
coal and ferroalloys as principal raw materials for producing steel bars at Keihin.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Canada we mainly source our steel bars requirements from
our facilities mentioned above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Mexico, we have been sourcing steel bars from Ternium&#8217;s
Mexican facilities since 2011, under a long term contract that grants us, during an eight and a half year period until April 2020,
preferential right to purchase up to 250,000 tons of round steel bars per year. Currently, a renegotiation of the contract is taking
place and we expect that Ternium will continue providing steel bars to our Mexican facilities.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the United States, we currently use steel bars produced in
our integrated facilities in Romania, Italy and Mexico and have been granted an exclusion from Section 232 tariffs for the imports
of these steel bars. Additionally, we have a contract in place with Nucor Steel to purchase a portion of the steel bars requirements
in our Tenaris Bay City mill. From 2020 Tenaris will have its first steelmaking facility in the United States in Koppel, Pennsylvania.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Steel coils and plates</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the production of welded steel pipe products, we purchase
steel coils and steel plates principally from domestic producers for processing into welded steel pipes. We have welded pipe operations
in Argentina, Brazil, Canada, Colombia and the United States.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Steel coil market prices decreased in 2019. As a reference,
prices for hot rolled coils, HRC Midwest USA Mill, published by CRU, averaged $670 per metric ton in 2019 and $915 per metric ton
in 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For our welded pipe operations in the United States, a significant
part of our requirements for steel coils are supplied by Nucor Steel which is our principal supplier in the United States. Nucor
Steel has a steel coil manufacturing facility in Hickman, Arkansas, near to our principal welded pipe facility in the United States.
To secure a supply of steel coils for our U.S. facilities, during 2019 we renewed a long-term purchase agreement with Nucor Steel
which is due to expire at the end of 2022.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Canada, we have long-term agreements with our main steel
suppliers for our welded pipe operations with prices referenced to market levels in U.S. dollars (i.e., CRU HRC index). Among such
suppliers is ArcelorMittal Dofasco, which has steel coil manufacturing facilities in Hamilton, Ontario. Additionally, we purchase
steel on a spot basis from Algoma Steel, which has steel coil manufacturing facilities in Sault Ste. Marie, Ontario.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We also purchase steel coils and plates for our welded pipe
operations in South America (Colombia, Brazil and Argentina) principally from Usiminas and Gerdau S.A. (&#8220;Gerdau&#8221;) in
Brazil, from Ternium Argentina S.A. (&#8220;Ternium Argentina&#8221;), a subsidiary of Ternium in Argentina, and from Ternium&#8217;s
facilities in Mexico. In addition, in Brazil we also source plates and coils from international suppliers when not produced domestically.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Energy</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consume substantial quantities of electric energy at our
electric steel shops in Argentina, Italy, Mexico and Romania. In Argentina, up to the end of January 2019, we had a 160 megawatt
power generation plant located at San Nicol&#225;s that reached the end of its useful life, which together with a smaller thermo-electric
power generating plant located within the Campana facility, was sufficient to supply the requirements of our steelmaking facility
at Campana. Currently, our electric energy requirements in Argentina are mainly satisfied from the local market and by the plant
located in Campana. In Dalmine, Italy, we have a 120 megawatt power generation facility which is designed to have sufficient capacity
to meet most of the electric power requirements of the operations. The additional energy needed to cover the peaks of consumption
and the excess energy produced are purchased and sold to the market while heat is sold for district heating. In Mexico, our electric
power requirements are mainly satisfied by Techgen, a natural gas-fired combined cycle electric power plant in the Pesquer&#237;a
area of the State of Nuevo Le&#243;n, while a small portion of our energy requirements are furnished by the Mexican government-owned
Comisi&#243;n Federal de Electricidad, or the Federal Electric Power Commission. In Romania, we source electric energy from the
local market.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 38 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consume substantial volumes of natural gas in Argentina,
particularly in the generation of DRI and to operate our power generation facilities. Tecpetrol is our main natural gas supplier
in Argentina. Tecpetrol is a subsidiary of San Faustin, which supplies us with natural gas under market conditions and according
to local regulations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have transportation capacity agreements with Transportadora
de Gas del Norte S.A. (&#8220;TGN&#8221;), a company in which San Faustin holds a significant but non-controlling interest, corresponding
to capacity of 1,000,000 cubic meters per day until April 2027. In order to meet our transportation requirements for natural gas
above volumes contracted with TGN, we also have agreements with Naturgy S.A. (formerly Gas Natural Ban S.A.), for a maximum transportation
capacity corresponding to approximately 970,000 cubic meters per day. For the final transportation phase, we have a supply contract
with Naturgy S.A. Both contracts with Naturgy S.A are in place until April 2020 and are expected to be renewed.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition to the normal amount of gas consumed at our Italian
plants, we also consume substantial quantities of natural gas in connection with the operation of our power generation facility
in Italy. Our natural gas requirements in Italy are currently supplied by Eni S.p.A.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our costs for electric energy and natural gas vary from country
to country. In the last few years energy costs have remained generally flat thanks to the increasing availability of natural gas
from shale plays and additional renewable energy generation at more competitive prices. In 2018 the cost of natural gas for industrial
use in Argentina began to decrease with the increase in production of natural gas from the Vaca Muerta gas play. In the second
half of 2019, however, continuing uncertainty about the policies that the new Argentine government would implement has led to a
sharp fall in investment and drilling activity in Vaca Muerta. The demand for natural gas in winter continues to outpace supply,
which is why Argentina must import natural gas from Bolivia, Chile and Liquefied natural gas (&#8220;LNG&#8221;) from the international
market, in addition to using liquid fuel to generate electricity. See Item&nbsp;3.D. &#8220;Key Information &#8211; Risk Factors
&#8211; Risks Relating to Our Industry &#8211; Increases in the cost of raw materials, energy and other costs, limitations or disruptions
to the supply of raw materials and energy; and price mismatches between raw materials and our products may hurt our profitability&#8221;
and Item&nbsp;3.D. &#8220;Key Information &#8211; Risk Factors &#8211; Risks Relating to Our Business &#8211; Adverse economic
or political conditions in the countries where we operate or sell our products and services may decrease our sales or disrupt our
manufacturing operations, thereby adversely affecting our revenues, profitability and financial condition&#8221;.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Ferroalloys</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For each of our steel shops we coordinate our purchases of ferroalloys
worldwide. The international costs of ferroalloys can vary substantially within a short period. Prices for the main ferroalloys
consumed by Tenaris decreased gradually during 2019. Although some materials have started to gain momentum upward by the start
of 2020, current prices remain below 2018 averages.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Product Quality Standards</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our steel products (tubular products, accessories and sucker
rods) are manufactured in accordance with the specifications of the American Petroleum Institute (API), the American Society for
Testing and Materials (ASTM), the International Standardization Organization (ISO), the Japan Industrial Standards (JIS), and European
Standards (EN), among other standards. The products must also satisfy our proprietary standards as well as our customers&#8217;
requirements. We maintain an extensive quality assurance and control program to ensure that our products continue to satisfy proprietary
and industry standards and are competitive from a product quality standpoint with products offered by our competitors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We currently maintain, for all our manufacturing facilities
and services centers, a Quality Management System Certified to ISO 9001:2015 by Lloyd&#8217;s Register Quality Assurance and API
product licenses granted by API, which are requirements for selling to the major oil and gas companies, which have rigorous quality
standards. In addition, the majority of our testing laboratories are certified to ISO 17025. Our Quality Management System (QMS),
based on the ISO 9001 and API Q1 specifications assures that products and services comply with customer requirements from the acquisition
of raw materials to the delivery of the final product and services. The QMS is designed to ensure the reliability and improvement
of the product and the manufacturing operations processes as well as the associated services. Additionally, we are in the process
of certifying the QMS to API Q2, a certification specifically developed for companies which offer services in the oil and gas industry.</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 39 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All of our mills involved in the manufacturing of material for
the automotive market are certified according to the standard IATF 16949 by Lloyd&#8217;s Register Quality Assurance.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Research and Development </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Research and development, or R&amp;D, of new products and processes
to meet the increasingly stringent requirements of our customers is an important aspect of our business.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">R&amp;D activities are carried out primarily at our global R&amp;D
network with its main office in Amsterdam, the Netherlands and specialized research and testing facilities located in Campana,
Argentina, in Veracruz, Mexico, in Dalmine, Italy, and at the product testing facilities of NKKTubes, Japan. Additionally, we have
a Wedge Technology Center in Houston, Texas, USA. We strive to engage some of the world&#8217;s leading industrial research institutions
to solve the problems posed by the complexities of oil and gas projects with innovative applications. In addition, our global technical
sales team is made up of experienced engineers who work with our customers to identify solutions for each particular oil and gas
drilling environment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Product R&amp;D currently being undertaken are focused on the
increasingly challenging energy markets and include:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>proprietary premium joint products including Dopeless&#174; technology;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>heavy-wall deepwater line pipe, risers and welding technology;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>proprietary steels;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>tubes and components for the car industry and mechanical applications;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>tubes for boilers;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>welded pipes for oil and gas and other applications;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>sucker rods;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>coiled tubing;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>coatings; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 24.7pt"><font style="font-family: Symbol">&#183;</font></td><td>large vessels for hydrogen storage and refueling stations.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition to R&amp;D aimed at new or improved products, we
continuously study opportunities to optimize our manufacturing processes. Recent projects in this area include modeling of rolling
and finishing process and the development of different process controls, with the goal of improving product quality and productivity
at our facilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We seek to protect our innovation, through the use of patents,
trade secrets, trademarks and other intellectual property tools that allow us to differentiate ourselves from our competitors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We spent $61 million in R&amp;D in 2019, compared to $63 million
in 2018 and $64 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized costs were not material for
the years 2019, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Environmental Regulation </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are subject to a wide range of local, provincial and national
laws, regulations, permit requirements and decrees relating to the protection of human health and the environment, including laws
and regulations relating to hazardous materials and radioactive materials and environmental protection governing air emissions,
water discharges and waste management. Laws and regulations protecting the environment have become increasingly complex and more
stringent and expensive to implement in recent years. International environmental requirements vary from one jurisdiction to another.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 40 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The ultimate impact of complying with existing laws and regulations
is not always clearly known or determinable since regulations under some of these laws are not yet effective or are undergoing
revision. The expenditures necessary to remain in compliance with these laws and regulations, including site or other remediation
costs, or costs incurred from potential environmental liabilities, could have a material adverse effect on our financial condition
and profitability. While we incur and will continue to incur, in expenditures to comply with applicable laws and regulations,
there always remains a risk that environmental incidents or accidents may occur that may negatively affect our reputation or our
operations. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Compliance with applicable environmental laws and regulations
is a significant factor in our business. We have not been subject to any material penalty for any material environmental violation
in the last five years, and we are not aware of any current material legal or administrative proceedings pending against us with
respect to environmental matters which could have an adverse material impact on our financial condition or results of operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Insurance </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We carry property damage, general liability and certain other
insurance coverage in line with industry practice. However, we do not carry business interruption insurance. Our current general
liability coverage includes third party, employers, sudden and accidental seepage and pollution and product liability, up to a
limit of $300 million. Our current property insurance has indemnification caps up to $250 million for direct damage, depending
on the different plants; and a deductible of $100 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Disclosure Pursuant to Section&nbsp;13(r)
of the Exchange Act </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Tenaris </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Iran Threat Reduction and Syria Human
Rights Act of 2012 (&#8220;ITRA&#8221;), created a new subsection (r)&nbsp;in Section&nbsp;13 of the U.S. Securities Exchange Act
of 1934, as amended (the &#8220;Exchange Act&#8221;), which requires a reporting issuer to provide disclosure if the issuer or
any of its affiliates knowingly engaged in certain enumerated activities relating to Iran, including activities involving the Government
of Iran. Tenaris is providing the following disclosure pursuant to Section&nbsp;13(r) of the Exchange Act.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In July 2015, the Islamic Republic of Iran
entered into the Joint Comprehensive Plan of Action (&#8220;JCPOA&#8221;) with China, France, Germany, Russia, the United Kingdom
and the U.S., which resulted in the partial lifting in January 2016 of certain sanctions and restrictions against Iran, including
most U.S. secondary sanctions against such country. On May 8, 2018, the U.S. announced that it would cease participation in the
JCPOA and would begin re-imposing nuclear-related sanctions against Iran after a wind-down period. Following the U.S. withdrawal
from the JCPOA, the European Union updated Council Regulation (EC) No. 2271/96 of 22 November 1996 (the &#8220;EU Blocking Statute&#8221;),
to expand its scope to cover the re-imposed U.S. nuclear-related sanctions. The EU Blocking Statute aims to counteract the effects
of the U.S. secondary sanctions.</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As previously reported, Tenaris ceased
all deliveries of products and services to Iran by the end of October 2018, that is, during the wind-down period and before the
full reinstatement of U.S. secondary sanctions on November 5, 2018. Tenaris has not, directly or indirectly, delivered any goods
or services to Iran or Iranian companies during 2019 and does not intend to explore any commercial opportunities in Iran, nor does
it intend to participate in tender offers by, or issue offers to provide products or services to, Iranian companies or their subsidiaries.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2019 Tenaris collected certain payments
for sales of goods or services in connection with past commercial activities relating to Iran, as further described below. Tenaris
believes that such activities do not violate any U.S. or foreign law. In addition, in all cases, Tenaris collected amounts owed
for sales of goods or performance of services in accordance with OFAC regulations. Tenaris has procedures in place designed to
ensure that such activities comply with all applicable U.S. and other international export control and economic sanctions laws
and regulations.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><u>Previous pending payments:</u></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td style="text-align: justify">In May 2016, TGS was awarded by Toos Payvand Co., a Tehran-based company, a spot purchase order
for carbon steel pipes for the Esfahan Oil Refinery Project (end user National Iranian Oil Company or &#8220;NIOC&#8221;), for
a total value of EUR3.5 million (approximately $4.0 million). TGS delivered most of the items requested under such purchase order,
for which the customer made advance payments, during 2017 and during the wind-down period associated with the reinstatement of
U.S. secondary sanctions. Shipments under this purchase order were suspended as of October 2018. As of December 31, 2019, TGS recorded
an advance payment from Toos Payvand Co. for undelivered goods for approximately EUR 0.04 million (approximately $0.04 million).</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td style="text-align: justify">During 2018, Dalmine was awarded spot orders from Mapna International FZE for a total value of
EUR4.1 million (approximately $4.7 million) of which EUR 4.0 million (approximately $4.5 million) were collected as of December
31, 2018. By October 2018, Dalmine had delivered all ordered items. On April 18, 2019, Dalmine collected the outstanding balance
of approximately EUR0.1 million (approximately $0.1 million) in compliance with OFAC regulations. No obligations are outstanding,
and no amounts are due to Dalmine in connection with these purchase orders.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 41 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td style="text-align: justify">During 2018, Dalmine received an order from U.K.-based company BP Exploration
Operating Co. Ltd. for EUR0.2 million (approximately $0.2 million) for the provision of casing and coupling to be used in the Rhum
Gas Oilfield (located in the U.K.). At the time of the order, the partners in the Rhum Gas Oilfield are BP Exploration Operating
Co Ltd. (50%) and Iranian Oil Co UK Ltd (50%), a subsidiary of NIOC. All items were delivered by October 2018. On May 21, 2019,
Dalmine collected the outstanding balance of approximately EUR0.2 million (approximately $0.2 million) from BP Exploration Operating
Co. Ltd. in compliance with OFAC regulations. No obligations are outstanding, and no amounts are due to Dalmine in connection with
this purchase order.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The aggregate amount collected during 2019
in connection with past commercial activities relating to Iran amounted to approximately $0.3 million. All revenue and profit in
connection of these sales was recorded in the fiscal year in which such sales were performed and, therefore, no revenue and profit
has been reported in connection with commercial activities related to Iran for the year ended December 31, 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Tenaris&#8217;s Affiliates </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to Section 13(r) of the Exchange Act, Tenaris is also
required to disclose whether any of its affiliates have engaged in certain Iran-related activities and transactions. Tenova S.p.A.
(&#8220;Tenova&#8221;), an Italian supplier of equipment for the mining and the steelmaking industry, is indirectly controlled
by San Faustin and, accordingly, is deemed &#8220;affiliate&#8221; of Tenaris, as that term is defined in Exchange Act Rule 12b-2.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In response to our inquiry, Tenova informed us that:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 17.85pt"></td><td style="width: 17.85pt"><font style="font-family: Times New Roman, Times, Serif">&#8226;</font></td><td style="text-align: justify">During 2019, Tenova or its subsidiaries provided engineering services for the steel-making and
raw material handling industries to Iranian customers for agreements entered prior to 2018. As a result of the reinstatement of
U.S. secondary sanctions, Tenova has terminated/suspended all commercial activities related to contracts involving Iranian entities.
In addition, Tenova has informed that, as of May 2019, it has formally required its employees to stop any travel to Iran and that
it does not intend to explore any commercial opportunities in Iran, nor does it intend to participate in tender offers by, or issue
offers to provide products or services to, Iranian companies or their subsidiaries.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 17.85pt"></td><td style="width: 17.85pt"><font style="font-family: Times New Roman, Times, Serif">&#8226;</font></td><td style="text-align: justify">None of the services provided to Iranian customers is connected to the activities described in
Sections 5(a) or (b) of the Iran Sanctions Act of 1996, or Sections 104(c)(2), 104(d)(1) or 105A(b)(2) of the Comprehensive Iran
Sanctions, Accountability, and Divestment Act of 2010. In addition, no such activities were performed in favor of persons whose
property and interests in property are blocked pursuant to Executive Order 13224 (terrorists and terrorist supporters) or 13382
(weapons of mass destruction proliferators and supporters), nor in favor of any person or entity identified under Section 560.304
of Title 31, Code of Federal Regulations (relating to the definition of the Government of Iran).</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tenova reported total revenue for 2019
derived from services provided to Iranian customers for an amount of approximately $7.8 million; and estimated that net profits
from such transactions, after direct project cost allocation and taxes, were approximately $3.3 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No other consulted affiliate reported any
Iran-related activity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 42 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>C.</b></td><td><b>Organizational Structure and Subsidiaries</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We conduct all our operations through subsidiaries. The following
table shows the principal subsidiaries of the Company and its direct and indirect ownership in each subsidiary as of December&nbsp;31,
2019, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="3" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td rowspan="2" style="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Company</b></font></td>
    <td rowspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Country of Incorporation</b></font></td>
    <td rowspan="2" style="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Main activity</b></font></td>
    <td colspan="3" style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Percentage of ownership at December 31, (*)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2019</b></font></td>
    <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td>
    <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap; width: 37%"><font style="font-size: 10pt">ALGOMA TUBES INC.</font></td>
    <td style="white-space: nowrap; width: 12%"><font style="font-size: 10pt">Canada</font></td>
    <td style="white-space: nowrap; width: 30%"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="white-space: nowrap; width: 7%; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; width: 7%; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; width: 7%; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">CONFAB INDUSTRIAL S.A. and subsidiaries</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Brazil</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of welded steel pipes and capital goods</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">DALMINE S.p.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Italy</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">HYDRIL COMPANY and subsidiaries (except detailed) (a)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">USA</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacture and marketing of premium connections</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">KAZAKHSTAN PIPE THREADERS LIMITED LIABILITY PARTNERSHIP</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Kazakhstan</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Threading of premium products</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">MAVERICK TUBE CORPORATION and subsidiaries</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">USA</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of welded steel pipes </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">NKKTUBES</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Japan</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">51%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">51%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">51%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">P.T. SEAMLESS PIPE INDONESIA JAYA</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Indonesia</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of seamless steel products</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">89%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">89%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">89%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">PRUDENTIAL STEEL LTD.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Canada</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of welded steel pipes </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">S.C. SILCOTUB S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Romania</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">SAUDI STEEL PIPE CO.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Saudi Arabia</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of welded steel pipes </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">48%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">NA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">NA</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">SIAT SOCIEDAD ANONIMA</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Argentina</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of welded and seamless steel pipes </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL and subsidiaries</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Argentina</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TALTA - TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Portugal</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Holding Company</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS BAY CITY, INC.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">USA</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS CONNECTIONS BV</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Netherlands</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Development, management and licensing of intellectual property</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS FINANCIAL SERVICES S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Uruguay</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Financial company</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS GLOBAL SERVICES (CANADA) INC.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Canada</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Marketing of steel products</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">USA</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Marketing of steel products</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS GLOBAL SERVICES (UK) LTD</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">United Kingdom</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Holding company and marketing of steel products</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS GLOBAL SERVICES S.A. and subsidiaries (except detailed) (b)</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Uruguay</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Holding company and marketing of steel products</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS INVESTMENTS (NL) B.V.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Netherlands</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Holding company</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">NA</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">NA</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS INVESTMENTS S.&#224;.r.l.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Luxembourg</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Holding company</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Switzerland</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Holding company</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TENARIS TUBOCARIBE LTDA.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Colombia</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of welded and seamless steel pipes</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
<tr style="background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">TUBOS DE ACERO DE MEXICO, S.A.</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mexico</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">100%</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; width: 100%"><font style="font-size: 8pt">(*) All percentages rounded.</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap"><font style="font-size: 8pt">(a) Tenaris Investments S.&#224;.r.l. holds 100% of Hydril's
    subsidiaries shares except for Technical Drilling &amp; Production Services Nigeria. Ltd where it holds 80% for 2019, 2018
    and 2017.</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap"><font style="font-size: 8pt">(b) Tenaris Investments S.&#224;.r.l. holds 97,5% of Tenaris Supply Chain S.A. and 40% of Tubular Technical Services
Ltd. and Pipe Coaters Nigeria Ltd., 49% of Amaja Tubular Services Limited, 49% Tubular Services Angola Lda.</font> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Other Investments</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Ternium</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have a significant investment in Ternium, a Luxembourg company
controlled by San Faustin, whose securities are listed on the NYSE. As of December 31, 2019, the Company held 11.46% of Ternium&#8217;s
share capital (including treasury shares).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is a party to a shareholders&#8217; agreement with
Techint Holdings S.&#224;.r.l. (&#8220;Techint Holdings&#8221;), a wholly owned subsidiary of San Faustin and Ternium&#8217;s
main shareholder, dated January 9, 2006, pursuant to which Techint Holdings is required to take actions within its power to cause
one of the members of Ternium&#8217;s board of directors to be nominated by the Company and any directors nominated by the Company
to be removed only pursuant to previous written instructions from the Company. The Company and Techint Holdings also agreed to
cause any vacancies on Ternium&#8217;s board of directors to be filled with new directors nominated by either the Company or Techint
Holdings, as applicable. The shareholders&#8217; agreement will remain in effect so long as each of the parties holds at least
5% of the shares of Ternium or until it is terminated by either the Company or Techint Holdings pursuant to its terms. Carlos Condorelli
was nominated by the Company as a director of Ternium pursuant to this shareholders&#8217; agreement.</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Usiminas</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 16, 2012, Confab, acquired 5.0% of the shares
with voting rights and 2.5% of the total share capital in Usiminas, a leading Brazilian producer of high quality flat steel
products used in the energy, automotive and other industries. The acquisition was part of a larger transaction pursuant to
which Confab and Ternium&#8217;s subsidiaries Ternium Investments S.&#224;.r.l., Ternium Argentina and Prosid Investments
S.A. (jointly, the &#8220;Ternium Entities&#8221;) formed the so-called T/T Group and joined Usiminas&#8217; existing control
group through the acquisition of ordinary shares representing 27.7% of Usiminas&#8217; total voting capital and 13.8% of
Usiminas&#8217; total share capital. In addition, the T/T Group entered into a shareholders&#8217; agreement with the NSSMC
Group (formed by NSSMC, Mitsubishi Corporation do Brasil S.A. and Metal One Corporation) and Previd&#234;ncia Usiminas, an
Usiminas employee fund, governing the parties&#8217; rights within the Usiminas control group. Following a subsequent
subscription in 2016 to 1.3 million Usiminas preferred shares and 11.5 million Usiminas ordinary shares, as of December 31,
2019, Confab owned 36.5 million ordinary shares and 1.3 million preferred shares of Usiminas, representing 5.2% of
Usiminas&#8217; total voting capital and 3.07% of Usiminas&#8217; total share capital.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 43 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In 2014, a conflict arose within the T/T Group and NSSMC with
respect to the governance of Usiminas, including with respect to the rules applicable to the appointment of senior managers, the
application of the shareholders&#8217; agreement in matters involving fiduciary duties, and generally with respect to Usiminas&#8217;
business strategy.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February 8, 2018, the dispute was resolved; on April 10,
2018, the T/T Group entities (including Confab), the NSSMC Group entities and Previd&#234;ncia Usiminas entered into a new shareholders&#8217;
agreement for Usiminas, amending and restating the previously existing shareholders&#8217; agreement (&#8220;the New SHA&#8221;).
Usiminas&#8217; control group now holds, in the aggregate, 483.6 million ordinary shares bound to the New SHA, representing approximately
68.6% of Usiminas&#8217; voting capital, with the T/T Group holding approximately 47.1% of the total shares held by the control
group (39.5% corresponding to the Ternium Entities and the other 7.6% corresponding to Confab); the NSSMC Group holding approximately
45.9% of the total shares held by the control group; and Previd&#234;ncia Usiminas holding the remaining 7% of the total shares
held by the control group.</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The New SHA reflects the agreed-upon corporate governance rules
for Usiminas, including, among others, an alternation mechanism for the nomination of each of the chief executive officer and the
chairman of the board of directors, as well as a mechanism for the nomination of other members of Usiminas&#8217; executive board.
The New SHA also incorporates an exit mechanism consisting of a buy-and-sell procedure, exercisable at any time during the term
of the New SHA after the fourth-and-a-half-year anniversary from the coming election of Usiminas&#8217; executive board in May
2018. Such exit mechanism shall apply with respect to shares held by the NSSMC Group and the T/T Group, and would allow either
Ternium (on behalf of the T/T Group) or NSSMC to purchase all or a majority of the Usiminas shares held by the other shareholder
group.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the execution of the New SHA, the Ternium
Entities and Confab amended and restated their separate shareholders&#8217; agreement governing their respective rights and obligations
as members of the T/T Group to include provisions relating to the exit mechanism and generally to conform such separate shareholders&#8217;
agreement to the other provisions of the New SHA.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Techgen</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Techgen is a Mexican joint venture company owned 48% by Ternium,
30% by Tecpetrol and 22% by Tenaris. Techgen operates a natural gas-fired combined cycle electric power plant in the Pesquer&#237;a
area of the State of Nuevo Le&#243;n, Mexico. Tenaris, Ternium and Tecpetrol are parties to a shareholder&#8217;s agreement relating
to the governance of Techgen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February 13, 2019 Techgen entered into a $640 million syndicated
loan agreement with several banks to refinance an existing loan, resulting in the release of certain corporate guarantee issued
by Techgen&#8217;s shareholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Techgen&#8217;s obligations under the current facility, which
is &#8220;non-recourse&#8221; on the sponsors, are guaranteed by a Mexican security trust covering Techgen&#8217;s shares, assets
and accounts as well as Techgen&#8217;s affiliates rights under certain contracts.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>TenarisSeverstal</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February 5, 2019, Tenaris entered into an agreement with
Severstal to build a welded pipe plant to produce OCTG products in the Surgut area, West Siberia, Russian Federation. Tenaris holds
a 49% interest in the company, while Severstal owns the remaining 51%. The plant, which is estimated to require an investment of
$280 million, is planned to have an annual production capacity of 300,000 tons. As of December 31, 2019, Tenaris contributed approximately
$19.6 million in the project.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt"><B>D.</B></TD><TD><B>Property, Plants and Equipment</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For a description of our property, plants and equipment, please
see B. &#8220;&#8211; Business Overview &#8211; Production Process and Facilities&#8221; and &#8220;&#8211; Business Overview &#8211;
Capital Expenditure Program&#8221;.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 44 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_006"></a>Item&nbsp;4A.</b></td><td><b>Unresolved Staff Comments</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_007"></a>Item&nbsp;5.</b></td><td><b>Operating and Financial Review and Prospects</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following discussion and analysis of our financial condition
and results of operations are based on, and should be read in conjunction with, our audited consolidated financial statements and
the related notes included elsewhere in this annual report. This discussion and analysis presents our financial condition and results
of operations on a consolidated basis. We prepare our consolidated financial statements in conformity with IFRS. IFRS differ in
certain significant respects from U.S. GAAP.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain information contained in this discussion and analysis
and presented elsewhere in this annual report, including information with respect to our plans and strategy for our business, includes
forward-looking statements that involve risks and uncertainties. See &#8220;Cautionary Statement Concerning Forward-Looking Statements&#8221;.
In evaluating this discussion and analysis, you should specifically consider the various risk factors identified in Item&nbsp;3.D.
&#8220;Key Information &#8211; Risk Factors&#8221;, other risk factors identified elsewhere in this annual report and other factors
that could cause results to differ materially from those expressed in such forward-looking statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Overview</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>We are a leading global manufacturer and
supplier of steel pipe products and related services for the energy industry and other industries.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are a leading global manufacturer and supplier of steel pipe
products and related services for the world&#8217;s energy industry as well as for other industrial applications. Our customers
include many of the world&#8217;s leading oil and gas companies, engineering companies engaged in constructing oil and gas gathering
and processing and power facilities, and industrial companies operating in a range of industries. We operate an integrated worldwide
network of steel pipe manufacturing, research, finishing and service facilities with industrial operations in the Americas, Europe,
Asia and Africa and a direct presence in most major oil and gas markets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Our main source of revenue is the sale
of products and services to the oil and gas industry, and the level of such sales is sensitive to international oil and gas prices
and their impact on drilling activities.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Demand for our products and services from the global oil and gas industry,
particularly for tubular products and services used in drilling operations, represents a substantial majority of our total Tubes
sales (84% in 2019). Our sales, therefore, depend on the condition of the oil and gas industry and our customers&rsquo; willingness
to invest capital in oil and gas exploration and development as well as in associated downstream processing activities. The level
of these expenditures is sensitive to oil and gas prices as well as the oil and gas industry&rsquo;s view of such prices in the
future. Crude oil prices fell from over $100 per barrel in June 2014 to less than $30 per barrel in February 2016, before recovering
to around $80 per barrel in the third quarter of 2018, but subsequently fell 40% in the fourth quarter of 2018 before recovering
in 2019. Prices have fallen again to historically low levels in the wake of the COVID-19 pandemic and the oil price conflict between
Saudi Arabia and Russia. North American natural gas prices (Henry Hub), which were around $4 per million BTU in 2014, also briefly
fell below $2 per million BTU at the beginning of 2016, before recovering to average levels of $3 per million BTU during the past
three years, but have subsequently fallen back below $2 per million BTU.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In 2019, worldwide drilling activity, as represented in the
number of active drilling rigs published by Baker Hughes, decreased 2% compared to the level of 2018, with larger decreases concentrated
in the U.S. and Canadian shale plays, partially compensated by a gradual increase in international rigs which started in the second
half of 2018. In the United States the rig count in 2019 decreased by 9%, with an average of 943 active rigs, but ended the year
with more than 200 fewer active rigs than at the beginning. Drilling activity in the United States declined throughout the year
but has stabilized around 790 rigs in the beginning of 2020, prior to the most recent decline in oil prices. In Canada, the rig
count in 2019 declined by 30% compared with 2018, while in the rest of the world, it rose 11%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Prior to the 2014 downturn in oil prices, a growing proportion
of exploration and production spending by oil and gas companies had been directed at offshore, deep drilling and non-conventional
drilling operations in which high-value tubular products, including special steel grades and premium connections, are usually specified.
The success, however, of shale drilling operators, with their inherently short investment cycles, in adapting to lower oil and
gas costs and increasing production, and the increasing share of oil produced in shale plays as a proportion of global supply,
has led to a slowdown in new developments of complex offshore projects with long investment lead times in a context of low and
more volatile oil prices, consequently affecting the level of product differentiation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 45 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Our business is highly competitive.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The global market for steel pipes is highly
competitive, with the primary competitive factors being price, quality, service and technology. We sell our products in a large
number of countries worldwide and compete primarily against European and Japanese producers in most markets outside North America.
In the United States and Canada, we compete against a wide range of local and foreign producers. Over the past decade, substantial
investments have been made, especially in China but also in other regions around the world, to increase production capacity of
seamless steel pipe products. Production capacity for more specialized product grades has also increased. With the downturn between
2014 and 2016 in the price of oil and demand for tubes for oil and gas drilling, the overcapacity in steel pipe and seamless steel
pipe production worldwide has become acute, and now extends beyond commodity grades. The competitive environment has, as a result,
become more intense, and we expect that this will continue for some time. Effective competitive differentiation will be a key factor
for Tenaris.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">In addition, there is an increased risk of
unfairly traded steel pipe imports in markets in which we produce and sell our products. In September 2014, the United States imposed
anti-dumping duties on OCTG imports from various countries, including South Korea. Despite the duties imposed, imports from South
Korea continued at a very high level. As a result, U.S. domestic producers have requested successive reviews of South Korea&#8217;s
exports, which are ongoing. At the same time South Korean producers have appealed the duties imposed. Similarly, in Canada, the
Canada Border Services Agency introduced anti-dumping duties on OCTG imports from South Korea and other countries in April 2015.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During 2018, in addition to anti-dumping duties, the U.S. government
introduced tariffs and quotas pursuant Section 232 on the imports of steel products, including steel pipes, with the objective
of strengthening domestic production capacity utilization and investment. Quotas were imposed on the imports of steel products
from South Korea, Brazil and Argentina, while 25% tariffs were imposed on imports from most other countries, except Australia.
The proportion of the OCTG market supplied by imports has declined from around 60% prior to the imposition of tariffs and quotas
to around 35% at the end of 2019. This included, as a direct result of the fixed quota imposed on the imports of steel pipes from
South Korea, that South Korean imports have halved compared to prior levels.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><i>Our production
costs are sensitive to prices of steelmaking raw materials and other steel products.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">We purchase substantial quantities
of steelmaking raw materials, including ferrous steel scrap, direct reduced iron (DRI), pig iron, iron ore and ferroalloys, for
use in the production of our seamless pipe products. In addition, we purchase substantial quantities of steel coils and plates
for use in the production of our welded pipe products. Our production costs, therefore, are sensitive to prices of steelmaking
raw materials and certain steel products, which reflect supply and demand factors in the global steel industry and in the countries
where we have our manufacturing facilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The costs of steelmaking raw materials
and of steel coils and plates decreased during 2019. As a reference, prices for hot rolled coils, HRC Midwest USA Mill, published
by CRU, averaged $670 per ton in 2019 compared to $915 per ton in 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><i>Summary of results</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In 2019, our sales declined 5% compared to 2018, reflecting
lower drilling activity in Canada and the USA and lower sales in the Middle East and Africa. Despite the integration of SSPC and
a strong level of premium sales for Indian offshore gas projects, sales in the Middle East and Africa region were affected by Aramco
destocking in Saudi Arabia and did not include the extraordinary level of sales to East Mediterranean gas pipelines recorded in
2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Operating income declined 5% in line with the decline in sales.
Although gross margins were affected by lower volumes and high maintenance and start-up delays associated with the major overhauls
and investments we carried out at many of our industrial facilities including Tamsa in Mexico, these were compensated by lower
amortization charges. Shareholders net income declined 15% for the year, reflecting the decline in operating income and lower returns
on our investment in Ternium.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cash flow provided by operating activities amounted to $1,528
million during 2019, which included a reduction in working capital of $523 million. This amounted to a free cash flow margin of
16%, following capital expenditures of $350 million. During the year we made dividend payments of $484 million, an investment of
$133 million in SSPC, and our net cash position increased by $495 million to $980 million at December 31, 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: White">&nbsp;</FONT></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: White"><I>Outlook</I></FONT></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The rapid decline in economic activity and unprecedented collapse
in global oil demand as a result of the measures taken to contain the spread of the COVID-19 pandemic around the world has resulted
in an equally unprecedented collapse in oil prices, due to the imbalance between production, storage capacity and demand. At this
moment, it is not possible to determine how long it will take for economic activity and oil and gas demand to recover and for supply
and demand to rebalance. In this environment, investments in exploration and production of oil and gas are being severely curtailed
and are not expected to recover in the short term.</P>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 46 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin-right: 0; margin-left: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are taking action to preserve adequate levels of operation
while protecting the health and safety of our employees, fulfill our commitments to customers, strengthen the medical response
capability in the local communities where we have our operations and ensure the financial stability of the company.</P>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<P STYLE="font-size: 10pt; margin-right: 0; margin-left: 0">To mitigate the impact of expected lower sales, we are working on a
worldwide rightsizing program and cost containment plan aimed at preserving financial resources and liquidity and maintaining the
continuity of our operations. The actions include:</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>adjusting the level of our operations and workforce around the world, including the temporary closure of facilities and production
lines in the USA;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>downsizing our fixed cost structure, including pay reductions for the board and senior management with aggregated cost savings
of approximately $220 million by year end;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>reducing capital expenditures and R&amp;D expenses by approximately $150 million compared to 2019;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD>proposing to limit the payment of the dividend in respect of the 2019 fiscal year to the $153 million payment already made
as an interim dividend during November;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD>reducing working capital in accordance with activity levels.</TD></TR></TABLE>




<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the second quarter of 2020, we are expecting a substantial
reduction in sales and margins, particularly in the Americas, though sales in the rest of the world may remain more stable. In
this highly uncertain environment, sales could be around 35% lower than the first quarter and our EBITDA margin, excluding restructuring
charges, could fall to a high single digit. We do, however, expect to reduce working capital further and continue to generate positive
free cash flow.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For more information on the impact of the COVID-19 pandemic
and the oil and gas crisis, see Item 5G. &#8220;Operating and Financial Review and Prospects &#8211;Recent Developments - The COVID-19
pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s operations and financial condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Functional and presentation currency</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The functional and presentation currency of the Company is the
U.S. dollar. The U.S. dollar is the currency that best reflects the economic substance of the underlying events and circumstances
relevant to Tenaris&#8217;s global operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except for the Brazilian and Italian subsidiaries whose functional
currencies are their local currencies, Tenaris determined that the functional currency of its other subsidiaries is the U.S. dollar,
based on the following principal considerations:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Sales are mainly negotiated, denominated and settled in U.S. dollars. If priced in a currency other than the U.S. dollar, the
sales price may consider exposure to fluctuation in the exchange rate versus the U.S. dollar;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Prices of their critical raw materials and inputs are priced and settled in U.S. dollars;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Transaction and operational environment and the cash flow of these operations have the U.S. dollars as reference currency;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Significant level of integration of local operations within Tenaris&#8217;s international global distribution network;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Net financial assets and liabilities are mainly received and maintained in U.S. dollars; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The exchange rate of certain legal currencies has long been affected by recurring and severe economic crises.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Critical Accounting Estimates</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This discussion and analysis of our financial condition and
results of operations are based on our audited consolidated financial statements, which have been prepared in accordance with IFRS.
IFRS differs in certain significant aspects from U.S. GAAP.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preparation of our audited consolidated financial statements
and related disclosures in conformity with IFRS requires us to make estimates and assumptions that might affect the reported amounts
of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses.
Management evaluates its accounting estimates and assumptions, including those related to impairment of long-lived tangible and
intangible assets; assets useful lives; deferred income tax; obsolescence of inventory; doubtful accounts; post-employment benefits;
and loss contingencies, and revises them when appropriate. Management bases its estimates on historical experience and on various
other assumptions it believes to be reasonable under the circumstances. These estimates form the basis for making judgments about
the carrying values of assets and liabilities that are not readily apparent from other sources. Although management believes that
these estimates and assumptions are reasonable, they are based upon information available at the time they are made. Actual results
may differ significantly from these estimates under different assumptions or conditions.</P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our most critical accounting estimates are those that are most
important to the portrayal of our financial condition and results of operations, and which require us to make our most difficult
and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. Our most critical
accounting estimates and judgments are the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 47 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Accounting for business combinations</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To account for our business combinations we use the acquisition
method, which requires the acquired assets and assumed liabilities to be recorded at their respective fair value as of the acquisition
date. The determination of fair values of assets acquired, liabilities and contingent liabilities assumed and determination of
useful lives, requires us to make estimates and use valuation techniques, including the use of independent valuators, when market
value is not readily available. The excess of the aggregate of the consideration transferred and the amount of any non-controlling
interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If this is less than
the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the income statement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Impairment and recoverability of goodwill and other assets</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Long-lived assets including identifiable intangible assets are
reviewed for impairment at the lowest level for which there are separately identifiable cash flows (cash generating units, or &#8220;CGU&#8221;).
Most of Tenaris&#8217;s principal subsidiaries that constitute a CGU have a single main production facility and, accordingly, each
of such subsidiary represents the lowest level of asset aggregation that generates largely independent cash inflows.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Assets that are subject to amortization are reviewed for impairment
whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Intangible assets with indefinite
useful life, including goodwill, are subject to at least an annual impairment test.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In assessing whether there is any indication that a CGU may
be impaired, external and internal sources of information are analyzed. Material facts and circumstances specifically considered
in the analysis usually include the discount rate used in Tenaris&#8217;s cash flow projections and the business condition in terms
of competitive and economic factors, such as the cost of raw materials, oil and gas prices, capital expenditure programs for Tenaris&#8217;s
customers and the evolution of the rig count.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An impairment loss is recognized for the amount by which the
asset&#8217;s carrying amount exceeds its recoverable amount. The recoverable amount is the higher between the asset&#8217;s value
in use and fair value less costs of disposal. Any impairment loss is allocated to reduce the carrying amount of the assets of the
CGU in the following order:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt">a)</td><td>first, to reduce the carrying amount of any goodwill allocated to the CGU; and</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt">b)</td><td>then, to the other assets of the unit (group of units) pro rata on the basis of the carrying amount of each asset in the unit
(group of units), considering not to reduce the carrying amount of the asset below the highest of its fair value less cost of disposal,
its value in use or zero.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The value in use of each CGU is determined on the basis of the
present value of net future cash flows which would be generated by such CGU. Tenaris uses cash flow projections for a five-year
period with a terminal value calculated based on perpetuity and appropriate discount rates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For purposes of calculating the fair value less costs of disposal
Tenaris uses the estimated value of future cash flows that a market participant could generate from the corresponding CGU.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management judgment is required to estimate discounted future
cash flows. Actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived
using discounting techniques.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Non-financial assets other than goodwill that suffered an impairment
are reviewed for possible reversal at each reporting date.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No impairment charge was recorded in 2019, 2018, or 2017. For
more information on impairment and recoverability of goodwill and other assets, see &#8220;II. Accounting Policies G. Impairment
of non-financial assets&#8221; to our audited consolidated financial statements included in this annual report. For information
on impairment charges on our U.S. operations, see Item 5G. &#8220;Operating and Financial Review and Prospects &#8211;Recent Developments
- The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s operations and financial condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Reassessment of Property, Plant and Equipment Assets Useful
Lives</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Property, plant and equipment are stated at directly attributable
historical acquisition or construction cost less accumulated depreciation and impairment losses, if any. Property, plant and equipment
acquired through acquisitions accounted for as business combinations are valued initially at fair market value of the assets acquired.
Depreciation of the cost of the asset (apart from land, which is not depreciated) to its residual value over its estimated useful
life, is done using the straight line method. The depreciation method is reviewed at each year end. Estimating useful lives for
depreciation is particularly difficult as the service lives of assets are also impacted by maintenance and changes in technology,
and our ability to adapt technological innovation to the existing asset base. In accordance with IAS&nbsp;16, &#8220;Property,
Plant and Equipment&#8221;, the depreciation method, the residual value and the useful life of an asset must be reviewed at least
at each financial year-end, and, if expectations differ from previous estimates, the change must be treated as a change in an accounting
estimate. Management&#8217;s re-estimation of asset useful lives performed in accordance with IAS 16 did not materially affect
depreciation expense for 2019. However, if management&#8217;s estimates prove incorrect, the carrying value of plant and equipment
and its useful lives may be required to be reduced from amounts currently recorded. Any such reductions may materially affect asset
values and results of operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 48 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Reassessment of Useful Lives of Customer Relationships
</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with IFRS 3, "Business Combinations"
and IAS 38, &#8220;Intangible Assets&#8221; Tenaris has recognized the value of customer relationships separately from goodwill
attributable to the acquisition of Maverick and Hydril groups, as well as the more recent acquisition of SSPC.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Customer relationships acquired in a business combination are
recognized at fair value at the acquisition date, have a finite useful life and are carried at cost less accumulated amortization.
Amortization is calculated using the straight line method over the initial expected useful life of approximately 14 years for Maverick,
10 years for Hydril and 9 years for SSPC.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In 2018 the Company reviewed the useful life of Maverick&#8217;s
Tubes customer relationships and decided to reduce the remaining useful life from 2 years to zero, consequently a higher amortization
charge of approximately $109 million was recorded in the Consolidated Income Statement under Selling, general and administrative
expenses for the year ended December 31, 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of December 31, 2019, the net book value of SSPC&#8217;s
customer relationship amounted to $72.9 million, with a residual useful life of 8 years. Maverick&#8217;s coiled tubing customer
relationships amounted to $9.9 million with a residual useful life of 1 year, while Hydril&#8217;s customer relationships is fully
amortized.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Allowance for Obsolescence of Supplies and Spare Parts
and Slow-Moving Inventory</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Inventories are stated at the lower between cost and net realizable
value. The cost of finished goods and goods in process is comprised of raw materials, direct labor, utilities, freights and other
direct costs and related production overhead costs, and it excludes borrowing costs. The allocation of fixed production costs,
including depreciation and amortization charges, is based on the normal level of production capacity. Inventories cost is mainly
based on the FIFO method. Tenaris estimates net realizable value of inventories by grouping, where applicable, similar or related
items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated costs of completion
and selling expenses. Goods in transit as of year-end are valued based on the supplier&#8217;s invoice cost.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris establishes an allowance for obsolete or slow-moving
inventories related to finished goods, goods in process, supplies and spare parts. For slow moving or obsolete finished products,
an allowance is established based on management&#8217;s analysis of product aging. An allowance for obsolete and slow-moving inventory
of supplies and spare parts is established based on management's analysis of such items to be used as intended and the consideration
of potential obsolescence due to technological changes, aging and consumption patterns.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Allowances for Doubtful Accounts </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Trade and other receivables are recognized initially at fair
value that corresponds to the amount of consideration that is unconditional unless they contain significant financing components.
The Company holds trade receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently
at amortized cost using the effective interest method. Due to the short-term nature, their carrying amount is considered to be
the same as their fair value.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris applies the IFRS 9 simplified approach to measure expected
credit losses, which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses,
trade receivables have been grouped based on shared credit risk characteristics and the days past due. The expected loss rates
are based on the payment profiles of sales over a period of three years and the corresponding historical credit losses experienced
within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic
factors affecting the ability of the customers to settle the receivables.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Deferred income tax</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deferred income tax is recognized applying the liability method
on temporary differences arising between the tax basis of assets and liabilities and their carrying amounts in the consolidated
financial statements. The principal temporary differences arise from the effect of currency translation on depreciable fixed assets
and inventories, depreciation on property, plant and equipment, valuation of inventories, provisions for pension plans and fair
value adjustments of assets acquired in business combinations. Deferred tax assets are also recognized for net operating loss carry-forwards.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the time period when the asset
is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted at the reporting date.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 49 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deferred tax assets are recognized to the extent that it is
probable that future taxable income will be available against which the temporary differences can be utilized. At the end of each
reporting period, Tenaris reassesses unrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax
asset to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deferred tax liabilities and assets are not recognized for temporary
differences between the carrying amount and tax basis of investments in foreign operations where the company is able to control
the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in the foreseeable
future.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deferred tax assets and liabilities are offset when there is
a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same
taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset
and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deferred tax assets and liabilities are re-measured if tax rates
change. These amounts are charged or credited to the Consolidated Income Statement or to the item Other comprehensive income for
the year in the Consolidated Statement of Comprehensive Income, depending on the account to which the original amount was charged
or credited.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Post employment benefits</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company estimates at each year-end the provision necessary
to meet its post employment obligations in accordance with the advice from independent actuaries. The calculation of post employment
and other employee obligations requires the application of various assumptions. The main assumptions for post employment and other
employee obligations include discount rates, compensation growth rates, pension growth rates and life expectancy. Changes in the
assumptions could give rise to adjustments in the results and liabilities recorded and might have an impact on the post employment
and other employee obligations recognized in the future.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Contingencies</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are from time to time subject to various claims, lawsuits
and other legal proceedings, including customer, employee, tax and environmental-related claims, in which third parties are seeking
payment for alleged damages, reimbursement for losses, or indemnity. Management with the assistance of legal counsel periodically
reviews the status of each significant matter and assesses potential financial exposure. Our potential liability with respect to
such claims, lawsuits and other legal proceedings cannot be estimated with certainty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Some of these claims, lawsuits and other legal proceedings involve
highly complex issues, and often these issues are subject to substantial uncertainties and, therefore, the probability of loss
and an estimation of damages are difficult to ascertain. Accordingly, with respect to a large portion of such claims, lawsuits
and other legal proceedings, Tenaris is unable to make a reliable estimate of the expected financial effect that will result from
ultimate resolution of the proceeding. In those cases, Tenaris has not accrued a provision for the potential outcome of these cases.
If a potential loss from a claim, lawsuit or other proceeding is considered probable and the amount can be reasonably estimated,
a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information
available to management as of the date of preparation of the consolidated financial statements and take into consideration litigation
and settlement strategies. In a limited number of ongoing cases, Tenaris was able to make a reliable estimate of the expected loss
or range of probable loss and has accrued a provision for such loss but believes that publication of this information on a case-by-case
basis would seriously prejudice Tenaris&#8217;s position in the ongoing legal proceedings or in any related settlement discussions.
Accordingly, in these cases, the Company has disclosed information with respect to the nature of the contingency but has not disclosed
its estimate of the range of potential loss.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These estimates are primarily constructed with the assistance
of legal counsel, and management believes that the aggregate provisions recorded for potential losses in the consolidated financial
statements are adequate based upon currently available information. However, if management&#8217;s estimates prove incorrect, current
reserves could be inadequate and we could incur a charge to earnings which could have a material adverse effect on our results
of operations, financial condition, net worth and cash flows. As the scope of liabilities becomes better defined, there may be
changes in the estimates of future costs which could have a material adverse effect on our results of operations, financial condition,
net worth and cash flows.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 50 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 28.35pt; text-align: left"><b>A.</b></td><td style="text-align: justify"><b>Results of Operations</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following discussion and analysis of our financial condition
and results of operations are based on our audited consolidated financial statements included elsewhere in this annual report.
Accordingly, this discussion and analysis present our financial condition and results of operations on a consolidated basis. See
&#8220;Presentation of Certain Financial and Other Information - Accounting Principles&#8221; and &#8220;II. Accounting Policies
A. Basis of presentation&#8221; and &#8220;B. Group accounting&#8221; to our audited consolidated financial statements included
in this annual report. The following discussion should be read in conjunction with our audited consolidated financial statements
and the related notes included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-style: italic">Thousands of U.S. dollars (except number of</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="11" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-style: italic">shares and per share amounts)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; text-align: center">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; text-align: center">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Selected consolidated income statement data</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Continuing operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; width: 55%; text-align: left">Net sales</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">7,294,055</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">7,658,588</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">5,288,504</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt">Cost of sales</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,107,495</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,279,300</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,685,057</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Gross profit</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">2,186,560</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">2,379,288</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">1,603,447</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Selling, general and administrative expenses</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,365,974</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,509,976</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,270,016</td><td style="white-space: nowrap; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other operating income (expenses), net</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">11,805</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,501</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,157</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Operating income</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">832,391</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">871,813</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">334,588</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Finance income</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">47,997</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">39,856</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">47,605</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Finance cost</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(43,381</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(36,942</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(27,072</td><td style="white-space: nowrap; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other financial results</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">14,667</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">34,386</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(43,550</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Income before equity in earnings of non-consolidated companies and income tax</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">851,674</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">909,113</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">311,571</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Equity in earnings of non-consolidated companies</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">82,036</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">193,994</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">116,140</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Income before income tax</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">933,710</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">1,103,107</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">427,711</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Income tax</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(202,452</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(229,207</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">17,136</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Income for the year for continuing operations</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">731,258</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">873,900</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">444,847</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Discontinued operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Result for discontinued operations</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">91,542</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><font style="font-size: 10pt"><b>Income for the year</b> <sup>(1)</sup></font></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">731,258</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">873,900</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">536,389</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><font style="font-size: 10pt">Income (loss) attributable to <sup>(1)</sup>:</font></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Owners of the parent</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">742,686</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">876,063</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">544,737</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Non-controlling interests</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(11,428</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,163</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(8,348</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><font style="font-size: 10pt"><b>Income for the year </b><sup>(1)</sup></font></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">731,258</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">873,900</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">536,389</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Depreciation and amortization for continuing operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(539,521</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(664,357</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(608,640</td><td style="white-space: nowrap; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt">Weighted average number of shares outstanding</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Basic and diluted earnings per share for continuing operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.63</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.74</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.38</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Basic and diluted earnings per share</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.63</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.74</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.46</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt"><font style="font-size: 10pt">Dividends per share <sup>(2)</sup></font></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<!-- Field: Rule-Page --><div style="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><div style="font-size: 1pt; border-top: Black 0.75pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(1)</sup></font></td><td style="text-align: left"><font style="font-size: 8pt">IAS
                                         1 (revised), requires that income for the year as shown on the income statement does
                                         not exclude non-controlling interests. Earnings per share, however, continue to be calculated
                                         on the basis of income attributable solely to the owners of the parent.</font></td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(2)</sup></font></td><td style="text-align: left"><font style="font-size: 8pt">Dividends
                                         per share correspond to the dividends proposed or paid in respect of the year.</font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in"></p>

<!-- Field: Page; Sequence: 51 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="11" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap">&nbsp;<font style="font-size: 10pt"><i>Thousands of U.S. dollars (except number of shares)</i></font></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; text-align: center">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; text-align: center">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Selected consolidated financial position data</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; width: 55%; text-align: left">Current assets</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">5,670,607</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">5,464,192</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">5,381,154</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Property, plant and equipment, net</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,090,017</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,063,908</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,229,143</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other non-current assets</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,082,367</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,723,199</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,787,921</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,842,991</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,251,299</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,398,218</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Current liabilities</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,780,457</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,718,363</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,070,899</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Non-current borrowings</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">40,880</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">29,187</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">34,645</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Deferred tax liabilities</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">336,982</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">379,039</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">457,970</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other non-current liabilities</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">498,300</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">249,218</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">253,734</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Total liabilities</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,656,619</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,375,807</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,817,248</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Capital and reserves attributable to the owners of the parent</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,988,958</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,782,882</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,482,185</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Non-controlling interests</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">197,414</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">92,610</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">98,785</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Total equity</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">12,186,372</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,875,492</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,580,970</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities and equity</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,842,991</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,251,299</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,398,218</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt">Share capital</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,537</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,537</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,537</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt">Number of shares outstanding</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,180,536,830</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table sets forth our operating and other costs
and expenses as a percentage of net sales for the periods indicated.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-style: italic">Percentage of net sales</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="11" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Continuing Operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; width: 55%; text-align: left">Net sales</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">100.0</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">100.0</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">100.0</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt">Cost of sales</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(70.0</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(68.9</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(69.7</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Gross profit</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">30.0</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">31.1</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">30.3</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Selling, general and administrative expenses</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(18.7</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(19.7</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(24.0</td><td style="white-space: nowrap; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other operating income (expenses), net</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0.2</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0.0</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0.0</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Operating income</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">11.4</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">11.4</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">6.3</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Finance income</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.7</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.5</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.9</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Finance cost</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(0.6</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(0.5</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(0.5</td><td style="white-space: nowrap; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other financial results</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0.2</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0.4</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(0.8</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Income before equity in earnings of non-consolidated companies and income tax</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">11.7</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">11.9</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">5.9</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Equity in earnings of non-consolidated companies</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1.1</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2.5</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2.2</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Income before income tax</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">12.8</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">14.4</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">8.1</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Income tax</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2.8</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(3.0</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0.3</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Income for the year for continuing operations</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">10.0</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">11.4</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">8.4</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left">Discontinued operations</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Result for discontinued operations</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1.7</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Income for the year</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">10.0</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">11.4</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">10.1</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Income (loss) attributable to:</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Owners of the parent</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">10.2</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11.4</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">10.3</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Non-controlling interests</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(0.2</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(0.0</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(0.2</td><td style="white-space: nowrap; text-align: left">)</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Fiscal Year Ended December 31, 2019, Compared to Fiscal
Year Ended December 31, 2018</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows our net sales
by business segment for the periods indicated below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;<font style="font-size: 10pt"><i>Millions of U.S. dollars</i></font></td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="15" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Increase /</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">(Decrease)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 40%">Tubes</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">6,870</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">94</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">7,233</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">94</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">(5</td><td style="white-space: nowrap; width: 1%; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">424</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">6</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">426</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">6</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(0</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Total</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">7,294</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">7,659</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">(5</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%)</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 52 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Tubes</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table indicates, for our
Tubes business segment, sales volumes of seamless and welded pipes for the periods indicated below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-style: italic">Thousands of tons</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Increase /</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Decrease)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%">Seamless</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">2,600</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">2,694</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">(3</td><td style="white-space: nowrap; width: 1%; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">Welded</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">671</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">877</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(23</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Total</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">3,271</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">3,571</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">(8</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%)</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table indicates, for our
Tubes business segment, net sales by geographic region, operating income and operating income as a percentage of net sales for
the periods indicated below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;<font style="font-size: 10pt"><i>Millions of U.S. dollars</i></font></td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Increase /</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; border-bottom: Black 1pt solid">Net sales</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Decrease)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; text-align: left">- North America</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">3,307</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">3,488</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">(5</td><td style="white-space: nowrap; width: 1%; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">- South America</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,240</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,284</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(3</td><td style="white-space: nowrap; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>- Europe</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">641</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">628</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">- Middle East &amp; Africa</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,337</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,541</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(13</td><td style="white-space: nowrap; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">- Asia Pacific</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">345</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">292</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">18</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Total net sales</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">6,870</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">7,233</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">(5</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Operating income</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">755</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">777</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(3</td><td style="white-space: nowrap; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Operating income (% of sales)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11.0</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">10.7</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Net sales of tubular products and services</i> decreased
5% to $6,870 million in 2019, compared to $7,233 million in 2018,
reflecting an 8% decline in volumes and a 4% increase in average selling prices. In North America, while sales were higher in Mexico,
they declined in Canada and the United States reflecting lower drilling activity. In South America sales declined slightly reflecting
a reduction in drilling activity in Argentina towards the end of the year. In Europe sales increased due to higher demand for offshore
line pipe and OCTG with lower sales of mechanical pipes and line pipe for hydrocarbon process projects. In the Middle East &amp;
Africa, the acquisition of SSPC and an increase in sales in the Middle East outside of Saudi Arabia (where destocking took place)
did not compensate for the drop in sales of offshore line pipe following the completion of deliveries for East Mediterranean gas
development projects. In Asia Pacific, while sales increased in China, Indonesia and Australia, they declined in Thailand.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Operating income from tubular products and services</i>,
amounted to $755 million in 2019, compared to $777 million in 2018 (including $109 million one-off charge from higher amortization
of intangibles).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Operating income during 2019 was negatively affected by lower
shipment volumes after the completion of deliveries of offshore line pipe for East Mediterranean gas development projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Others</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table indicates, for our Others business segment,
net sales, operating income and operating income as a percentage of net sales for the periods indicated below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap"><font style="font-size: 10pt"><i>Millions of U.S. dollars</i></font></td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Increase /</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Decrease)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; text-align: left">Net sales</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">424</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">426</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">(0</td><td style="white-space: nowrap; width: 1%; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Operating income</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">77</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">95</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(19</td><td style="white-space: nowrap; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Operating income (% of sales)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">18.2</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">22.2</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Net sales of other products and services</i>
remained stable as lower sales of energy and excess raw materials and coiled tubing were compensated by higher sales of industrial
equipment in Brazil and sucker rods.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Operating income from other products and services,
decreased from $95 million in 2018 to $77 million in 2019, mainly due to the lower contribution from our sales of energy and excess
raw materials and from our coiled tubing business.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<!-- Field: Page; Sequence: 53 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Selling, general and administrative expenses</b>
or SG&amp;A, decreased by $144 million in 2019 to $1,366 million in 2019, from $1,510 million in 2018 (in 2018 included a one-off
higher amortization charge of $109 million). As a percentage of sales SG&amp;A amounted to 18.7% in 2019 compared to 19.7% in 2018.
Apart from the lower amortization and depreciation charge, SG&amp;A declined mainly due to lower logistic costs and allowance for
doubtful accounts partially compensated by higher services and fees, labor costs and taxes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Financial results</b> amounted to a gain
of $19 million in 2019, compared to $37 million in 2018. The 2019 gain corresponds mainly to an FX gain of $28 million mainly related
to the Argentine peso devaluation on peso denominated financial, trade, social and fiscal payables at Argentine subsidiaries which
functional currency is the U.S. dollar.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Equity in earnings of non-consolidated
companies</b> generated a gain of $82 million in 2019, compared to $194 million in 2018. These results were mainly derived from
our equity investment in Ternium (NYSE:TX).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Income tax charge</b> amounted to $202
million in 2019 (24% over income before equity in earnings of non-consolidated companies and income tax), compared to $229 million
in 2018 (25%).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Net income for continuing operations</b>
amounted to $731 million in 2019, compared with $874 million in 2018. The lower results reflect a worse operating environment and
a reduction of $112 million in the contribution from our non-consolidated investments, mainly Ternium.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b><i>Fiscal Year Ended December 31, 2018,
Compared to Fiscal Year Ended December 31, 2017</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows our net sales
by business segment for the periods indicated below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;<font style="font-size: 10pt"><i>Millions of U.S. dollars</i></font></td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="15" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Increase /</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Decrease)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 45%">Tubes</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">7,233</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">94</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">4,966</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">94</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">46</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">426</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">6</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">323</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">6</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">32</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Total</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">7,659</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">5,289</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">100</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">45</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Tubes</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&nbsp;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table indicates, for our
Tubes business segment, sales volumes of seamless and welded pipes for the periods indicated below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-style: italic">Thousands of tons</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Increase /</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Decrease)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%">Seamless</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">2,694</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">2,157</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">25</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">Welded</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">877</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">461</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">90</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Total</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">3,571</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">2,618</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">36</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table indicates, for our
Tubes business segment, net sales by geographic region, operating income and operating income as a percentage of net sales for
the periods indicated below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;<font style="font-size: 10pt"><i>Millions of U.S. dollars</i></font></td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Increase /</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Decrease)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Net sales</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 55%; text-align: left">- North America</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">3,488</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">2,362</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">48</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">- South America</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,284</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">982</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">31</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>- Europe</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">628</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">497</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">26</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">- Middle East &amp; Africa</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,541</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">921</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">67</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">- Asia Pacific</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">292</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">204</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">43</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Total net sales</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">7,233</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">4,966</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">46</td><td style="white-space: nowrap; font-weight: bold; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Operating income</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">777</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">292</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">166</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Operating income (% of sales)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">10.7</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5.9</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 54 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Net sales of tubular products and services</i> increased
46% to $7,233 million in 2018, compared to $4,966 million in 2017, reflecting a 36% increase in volumes and a 7% increase in average
selling prices. Sales increased mainly due to a strong increase in demand in the United States and Canada and higher sales of line
pipe for complex projects, including shipments for the second Zohr offshore welded pipeline in Egypt. In North America sales increased
mainly due to higher demand of OCTG and line pipe and the consolidation of our market position throughout the region. In South
America, sales increased mainly due to higher demand of OCTG and line pipe in Argentina, associated with increased investments
in Vaca Muerta shale and higher demand for OCTG in the Andean region, including sales to the Liza development in Guyana, partially
offset by lower sales of OCTG in Brazil, reflecting transition to new contracts with Petrobras. In Europe, sales increased reflecting
higher demand for industrial products and for OCTG products in the North Sea and continental Europe. In the Middle East and Africa
sales increased significantly, thanks to an exceptional level of sales for offshore line pipe for East Mediterranean gas development
projects and higher sales of OCTG in the Middle East and Caspian areas. In Asia Pacific sales increased following a recovery in
Indonesia and China from very low levels in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Operating income from tubular products and services</i>,
amounted to $777 million in 2018, compared to $292 million in 2017. Operating income during 2018 was negatively affected by a higher
customer relationships amortization charge of $109 million, after the full amortization of the residual value of Maverick&#8217;s
Tubes segment customer relationships. Excluding this one off effect operating income would amount to $886 million, 12% of sales.
The significant improvement in Tubes operating income reflects a better operating environment, where a 46% increase in sales improved
the utilization of production capacity and therefore the absorption of fixed costs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Others</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table indicates, for our Others business segment,
net sales, operating income and operating income as a percentage of net sales for the periods indicated below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;<font style="font-size: 10pt"><i>Millions of U.S. dollars</i></font></td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center">Increase /</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Decrease)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; text-align: left">Net sales</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">426</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">323</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">32</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Operating income</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">95</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">43</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">122</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Operating income (% of sales)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">22.2</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">13.2</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Net sales of other products and services</i>
increased 32% to $426 million in 2018, compared to $323 million in 2017, mainly due to higher sales of energy related products
e.g., sucker rods and coiled tubing.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Operating income from other products and services,
increased from $43 million in 2017 to $95 million in 2018, while all the profit centers improved their results, the main contributors
were the energy related businesses, mainly sucker rods and coiled tubing.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Selling, general and administrative expenses</b>
or SG&amp;A, increased by $240 million (19%) in 2018 from $1,270 million in 2017 to $1,510 million in 2018. SG&amp;A during 2018
includes a higher amortization charge of $109 million, after the full amortization of the residual value of Maverick&#8217;s Tubes
segment customer relationships. Excluding this one off effect, SG&amp;A amounted to $1,401 million (18% of sales), compared to
$1,270 million (24%) in 2017. The decline of SG&amp;A as a percentage of net sales reflects the containment of fixed and semi-fixed
expenses in a higher volumes environment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Financial results</b> amounted to a gain
of $37 million in 2018, compared to a loss of $23 million in 2017.The 2018 gain corresponds mainly to an FX gain of $29 million;
$24 million related to the Argentine peso devaluation on peso denominated financial, trade, social and fiscal payables at Argentine
subsidiaries which functional currency is the U.S. dollar, $17 million related to the Euro depreciation on Euro denominated intercompany
liabilities (offset in the currency translation reserve in equity), partially offset by a loss of $8 million due to the devaluation
of the Canadian dollar. Additionally, we gained $7 million on derivatives, mainly covering net receivables in Canadian dollar and
$3 million net interest on our net cash position.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Equity in earnings of non-consolidated
companies</b> generated a gain of $194 million in 2018, compared to $116 million in 2017. These results were mainly derived from
our equity investment in Ternium (NYSE:TX).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Income tax charge</b> amounted to $229
million in 2018 (25% over income before tax), compared to a gain of $17 million in 2017. In 2017 we recorded a gain of $63 million
due to the reduction in income tax rates in Argentina, the United States and Colombia over deferred tax liabilities. Additionally,
during 2017 we recorded an income tax charge of $29 million corresponding to a settlement agreement between Dalmine, our Italian
subsidiary, and the Italian tax authorities in connection with all withholding tax claims on 2007 and 2008 dividend payments. Under
such settlement agreement, Dalmine paid to the Italian tax administration an aggregate amount of EUR42.9 million (approximately
$51 million), net of EUR3.2 million (approximately $4 million) corresponding to the amount previously paid during the litigation
proceeding.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<!-- Field: Page; Sequence: 55 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Net income for continuing operations</b>
amounted to $874 million in 2018, compared with $536 million in 2017. The improvement in results reflects a better operating environment,
where a 45% increase in sales improved the utilization of production capacity and therefore the absorption of fixed costs, better
financial results and better results from our investment in Ternium.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>B.</b></td><td><b>Liquidity and Capital Resources</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table provides certain information related to
our cash generation and changes in our cash and cash equivalents position for each of the last three years:</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-style: italic">Millions of U.S. dollars</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="11" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; text-align: left">Net cash provided by (used in) operating activities</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">1,528</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">611</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">(22</td><td style="white-space: nowrap; width: 1%; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Net cash (used in) provided by investing activities</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(40</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">399</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">349</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">Net cash used in financing activities</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(354</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(900</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(401</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Increase (decrease) in cash and cash equivalents</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">1,134</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">109</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">(74</td><td style="white-space: nowrap; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Cash and cash equivalents at the beginning of year (excluding overdrafts)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">427</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">330</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">399</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Effect of exchange rate changes</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(6</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(13</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Increase (decrease) in cash and cash equivalents</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,134</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">109</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(74</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Cash and cash equivalents at the end of year (excluding
    overdrafts)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,554</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">427</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">330</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Cash and cash equivalents at the end of year (excluding overdrafts)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,554</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">427</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">330</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Bank overdrafts</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Other current investments</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">210</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">488</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,192</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Non-current investments</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">18</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">114</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">123</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Derivatives hedging borrowings and investments</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">19</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(6</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(33</td><td style="white-space: nowrap; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Current and non current borrowings</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(822</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(539</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(966</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash at the end of the year</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">980</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">485</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">647</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our financing strategy aims to maintain adequate financial resources
and access to additional liquidity. During 2019 cash flow provided by operating activities amounted to $1,528 million (including
a decrease in working capital of $523 million), our capital expenditures amounted to $350 million and we paid dividends amounting
to $484 million. At the end of the year we had a net cash position of $980 million, compared to $485 million at the beginning of
the year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">We believe that funds from operations, the
availability of liquid financial assets and our access to external borrowing through the financial markets will be sufficient to
satisfy our working capital needs, to finance our planned capital spending program, to service our debt in the future twelve months
and to address short-term changes in business conditions. For more information see Item 5.G. &#8220;Operating and Financial Review
and Prospects &#8211;Recent Developments - The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&#8217;s
operations and financial condition.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">We have a conservative approach to the management
of our liquidity, which consists of (i) cash and cash equivalents (cash in banks, liquidity funds and investments with a maturity
of less than three months at the date of purchase), and (ii) Other Investments (fixed income securities, time deposits, and fund
investments).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">At December 31, 2019, liquid financial assets
as a whole (comprising cash and cash equivalents and other investments) were 12% of total assets compared to 7% at the end of 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We hold investments primarily in liquidity funds and variable
or fixed-rate securities from investment grade issuers. We hold our cash and cash equivalents primarily in U.S. dollars and in
major financial centers. As of December 31, 2019, and 2018, U.S. dollar denominated liquid assets represented 95% of total liquid
financial assets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Fiscal Year Ended December&nbsp;31, 2019, Compared to
Fiscal Year Ended December&nbsp;31, 2018</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Operating activities</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net cash provided by operations during 2019 was $1,528 million,
compared to $611 million during 2018. This increase was mainly attributable to a $523 million decrease in working capital in 2019,
while in 2018 the increase in working capital amounted to $738 million. The annual variation was mainly attributed to a decrease
of $428 million in trade receivables, compared with an increase of $518 million in 2018. Additionally, during 2019 inventories
decreased $311 million which compares with an increase in inventory of $176 million in 2018. For more information on cash flow
disclosures and changes to working capital, see note 28 &#8220;Cash flow disclosures&#8221; to our audited consolidated financial
statements included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 56 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Investing activities</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net cash used in investing activities was $40 million in 2019,
compared to a net cash provided by investing activities of $399 million in 2018. We reduced our financial investments by $390 million
in 2019 compared to a reduction of $717 million in 2018. Additionally, during 2019 we spent $133 million in acquisition of subsidiaries.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Financing activities</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net cash used in financing activities, including dividends paid,
proceeds and repayments of borrowings and acquisitions of non-controlling interests, was $354 million in 2019, compared to $900
million in 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During 2019 we had net proceeds from borrowings of $174 million,
while in 2018 we had net repayments of borrowings of $413 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dividends paid during 2019 and 2018 amounted to $484 million
in each year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our total liabilities to total assets ratio was 0.18:1 as of
December 31, 2019 and 0.17:1 as of December 31, 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Fiscal Year Ended December&nbsp;31, 2018, Compared to
Fiscal Year Ended December&nbsp;31, 2017</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Operating activities</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net cash provided by operations during 2018 was $611 million,
compared to $22 million of net cash used in operations during 2017. This increase was mainly attributable to an increase in results
and a smaller increase in working capital. In 2018 and 2017 the increase in working capital amounted to $738 million and $853 million
respectively. The main yearly variation was related to an increase of $518 million in trade receivables, compared with an increase
of $259 million in 2017, while trade payables decreased $57 million in 2018 and increased $194 million in 2017. Additionally, during
2018 inventories increased $176 million which compares with an increase in inventory of $804 million in 2017. For more information
on cash flow disclosures and changes to working capital, see note 28 &#8220;Cash flow disclosures&#8221; to our audited consolidated
financial statements included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Investing activities</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net cash provided by investing activities was $399 million in
2018, compared to $349 million in 2017 (including the $328 million we collected from the sale of Republic Conduit). Capital expenditures
decreased to $349 million from $558 million in 2017 declining following the startup of our greenfield seamless facility in Bay
City, Texas at the end of 2017. Additionally, we reduced our financial investments by $717 million in 2018 compared to a reduction
of $565 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Financing activities</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net cash used in financing activities, including dividends paid,
proceeds and repayments of borrowings and acquisitions of non-controlling interests, was $900 million in 2018, compared to $401
million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During 2018 we had net repayments from borrowings of $413 million,
while in 2017 we had net proceeds of borrowings of $107 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dividends paid during 2018 and 2017 amounted to $484 million
in each year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our total liabilities to total assets ratio was 0.17:1 as of
December 31, 2018 and 0.20:1 as of December 31, 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Principal Sources of Funding</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During 2019, we funded our operations with operating cash flows,
bank financing and available liquid financial assets. Short-term bank borrowings were used as needed throughout the year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Financial liabilities</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During 2019 borrowings increased by $283 million to $822 million
at December 31, 2019, from $539 million at December 31, 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 57 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Borrowings consist mainly of bank loans. As of December 31,
2019, U.S. dollar-denominated borrowings plus borrowings denominated in other currencies swapped to the U.S. dollar represented
89% of total borrowings.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For further information about our financial debt, please see
note 19 &#8220;Borrowings&#8221; to our audited consolidated financial statements included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table shows the composition of our financial debt
at December 31, 2019, 2018 and 2017:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-style: italic">Millions of U.S. dollars</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; text-align: left">Bank borrowings</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">822</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">537</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 11%; text-align: right">966</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Bank overdrafts</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Total borrowings</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">822</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">539</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">966</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our weighted average interest rates before tax (considering
hedge accounting), amounted to 3.18% at December 31, 2019 and to 3.98% at December 31, 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The maturity of our financial debt is as
follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-style: italic">Millions of U.S. dollars</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold">At December 31, 2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 year or less</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 - 2 years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2 - 3 years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3 - 4 years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4 - 5 years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over 5 years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 37%">Borrowings</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">781</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">17</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">24</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">822</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Interest to be accrued (*)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">13</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">793</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">18</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">24</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">835</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">__________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(*)</sup></font></td><td><font style="font-size: 8pt">Includes the effect of
                                         hedge accounting.</font></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our current borrowings to total borrowings ratio amounted to
0.95:1 as of December 31, 2019 and December 31, 2018. Our liquid financial assets exceeded our total borrowings, we had a net cash
position (cash and cash equivalents, other current and non-current investments, derivatives hedging borrowings and investments,
less total borrowings) of $980 million at December 31, 2019, compared to $485 million at December 31, 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For information on our derivative financial instruments, please
see Item 11. &#8220;Quantitative and Qualitative Disclosure about Market Risk &#8211; Accounting for Derivative Financial Instruments
and Hedging Activities&#8221; and note 24 &#8220;Derivative financial instruments&#8221; to our audited consolidated financial
statements included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For information regarding the extent to which borrowings are
at fixed rates, please see Item 11. &#8220;Quantitative and Qualitative Disclosure About Market Risk&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Significant Borrowings</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our most significant borrowings as of December
31, 2019 were as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; width: 44%"><font style="font-size: 10pt"><i>Millions of U.S. dollars</i></font></td>
    <td style="white-space: nowrap; width: 14%">&nbsp;</td>
    <td style="white-space: nowrap; width: 14%">&nbsp;</td>
    <td style="white-space: nowrap; width: 14%">&nbsp;</td>
    <td style="white-space: nowrap; width: 14%">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; white-space: nowrap"><font style="font-size: 10pt"><b>Disbursement date</b></font></td>
    <td style="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><b>Borrower</b></td>
    <td style="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><b>Type</b></td>
    <td style="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><font style="font-size: 10pt"><b>Original &amp; Outstanding</b></font></td>
    <td style="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><font style="font-size: 10pt"><b>Final maturity</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">2019</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Tamsa</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Bank loans</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">621</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">2020</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">2019</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Siderca</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Bank loans</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">60</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">2020</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2019, Tenaris was in
compliance with all of its covenants under its significant borrowings, including financial covenants on leverage ratio.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>C.</b></td><td><b>Research and Development, Patents and Licenses, Etc.</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See Item&nbsp;4.B. &#8220;Information on the Company &#8211;
Business Overview &#8211; Research and Development&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 58 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>D.</b></td><td><b>Trend Information </b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Principal Factors Affecting Oil and Gas Prices and Demand
for Steel Pipes from the Global Oil and Gas Industry.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales to the oil and gas industry worldwide represent a high
percentage of our total sales, and demand for steel pipes from the global oil and gas industry is a significant factor affecting
the general level of volumes and prices for our products. Downward pressures on oil and gas prices usually result in lower oil
and gas drilling activity and investment throughout the oil and gas industry with consequently lower demand for our steel pipe
products and, in some circumstances, upward pressures can result in higher demand from our oil and gas customers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Whereas oil prices are similar in most parts of the world because
oil is a fully tradable commodity, gas prices are influenced by regional factors. In North America, where gas production is extensively
developed and there is an extensive regional pipeline system, these factors include available gas storage capacity and seasonal
weather patterns, particularly winter temperatures in the United States. LNG prices were traditionally established in relation
to international oil prices, particularly in the largest LNG markets in Asia. However, as the market for LNG becomes more global
and the USA becomes a relevant source of LNG, LNG prices are now being set increasingly in relation to gas prices prevailing at
regional gas hubs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">International oil prices depend on diverse factors. On the supply
side, major oil-and-gas-producing nations and companies have frequently collaborated to balance the supply (and thus the price)
of oil in the international markets. A major vehicle for this collaboration has been OPEC. Many of our customers are state-owned
companies in member countries of OPEC. Another factor that has affected the international price level of oil is the political and
socioeconomic conditions of oil-producing countries, such as Libya, Nigeria and Venezuela and the persistence of geo-political
and armed conflicts affecting the Middle East region, which is home to a substantial proportion of the world&#8217;s known oil
reserves. On the demand side, economic conditions and the level of oil inventories in the leading industrial nations of the world,
and more recently China, which constitute the largest oil consuming nations, also play a significant role in oil prices.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A more recent factor affecting oil and gas prices has been the
ability of producers in the United States and Canada to rapidly increase production from their reserves of tight oil and shale
gas in response to changes in market conditions. Production from U.S. tight oil reserves has grown in recent years to represent
around 10% of global liquids production, and production from shale gas plays is converting the United States into a net exporter
of natural gas and a significant player in the LNG market.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following three years of relatively stable oil prices of around $100 per
barrel, prices started to decline in the middle of 2014 as the rate of U.S. production increase began to exceed the increase in
global demand and OPEC confirmed at its November 2014 meeting that it would not cut production to balance demand. As a consequence,
prices reached levels below $30 per barrel in January 2016. Prices then recovered to around $80 per barrel during 2018 once OPEC
and other producers agreed to cut production levels to accelerate the market rebalancing process. By this time, OPEC and other
producers had lifted their production cuts and U.S. oil production was increasing at a rate greater than the increase in global
demand. Oil prices declined 40% in the fourth quarter of 2018 before partially recovering in 2019. In the first quarter of 2020,
the COVID-19 pandemic has affected global oil demand. In addition, agreements between OPEC member countries and other producers
(principally Russia) to cut production levels fell apart. Consequently, oil prices have collapsed to historically low levels.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The 2014 collapse in oil prices led oil and gas operators to
substantially reduce their exploration and production investments to a level which is currently around 60% of the average of the
2012-14 period and this, in turn, resulted in a severe contraction in demand and pressure on pricing for steel pipes used in oil
and gas drilling and associated operations. During 2017, however, oil and gas operators in North America, who have been very successful
in reducing production costs in their shale plays, increased investments in response to more favorable market conditions, and U.S.
operators continued to do so in 2018. However, in 2019 and during the first quarter of 2020, operators have been reducing investment
in the shales as they reacted to financial market pressures in order to achieve positive cash flow returns. With the collapse of
oil prices in March 2020 and continuing financial market pressures, we are likely to see further substantial reductions in their
investments.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Since the development of the Marcellus shale gas play, North
American gas prices have remained at low levels compared to previous decades. Over the past three years, average prices have fluctuated
in the range of $2.00-3.00 per million BTU, significantly below prices in many other major gas-consuming regions. For several years,
production increases, primarily from productive shale gas deposits, have exceeded demand increases, reducing the need for imports,
to the extent that, in 2017, the U.S. became a net exporter of natural gas. Low prices have encouraged investment in gas consuming
industrial facilities and LNG export facilities as well as switching from coal to gas for electric power production, particularly
with the adoption of new regulations which could force the retirement of older coal-based generating units. With continuing investments
in LNG export facilities, the U.S. has become a major global LNG exporter. More recently, North American gas prices have fallen
below $2 per million BTU as global demand growth for LNG has been affected by warmer northern hemisphere weather and the COVID-19
pandemic.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 59 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Drilling activity in the United States and Canada, following
several years of high activity, fell sharply through 2015 and the first half of 2016 before beginning a recovery which ended at
the end of 2018. Drilling activity declined throughout 2019 in response to a fall in oil prices at the end of 2018 and financial
market pressures to produce positive cash flow returns. Despite lower prices, production levels today are higher than before the
2014 collapse in oil prices but rig counts are around less than 50% of the levels they reached in 2014, reflecting the strong productivity
gains made by the U.S. oil and gas drilling industry. In the rest of the world, drilling activity began to decline in the second
half of 2014, continued to decline during 2015, 2016 and 2017 before beginning a gradual recovery in the second half of 2018. Although
drilling activity in the Middle East has remained relatively stable, drilling in Latin America and offshore drilling declined significantly,
but began to recover in 2019, although drilling in Argentina declined sharply in the last quarter of 2019, in response to uncertainty
about the policies that the new Argentine government would implement in respect of investments in the Vaca Muerta shale resource.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Prior to the 2014 downturn in oil prices, a growing proportion
of exploration and production spending by oil and gas companies had been directed at offshore, deep drilling and non-conventional
drilling operations in which high-value tubular products, including special steel grades and premium connections, are usually specified.
The success, however, of shale drilling operators, with their inherently short investment cycles, in adapting to lower oil and
gas costs and increasing production, led to a slowdown in new developments of complex offshore projects with long investment lead
times in a context of low and more volatile oil prices, consequently affecting the level of product differentiation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, the increasing cost competitiveness and use of
alternative renewable sources of energy could limit growth in demand for oil and gas and put downward pressure on oil and gas prices
in the longer term. This trend could accelerate if carbon taxes or carbon pricing instruments resulting in high prices for carbon
emissions are implemented around the world.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The tables below show the annual average number of active oil
and gas drilling rigs, or rig count, in the United States, Canada, International (worldwide other than the United States and Canada
and excluding Iran, Sudan, onshore China, Russia and Syria) and Worldwide, as published by Baker Hughes, for the years indicated
and the percentage increase or decrease over the previous year. Baker Hughes, a leading oil service company, has published its
rig counts on a monthly basis since 1975 as a general indicator of activity in the oil and gas sector.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Rig count</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 45%"><font style="font-size: 10pt">International <sup>(*)</sup></font></td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">1,098</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">988</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">948</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">955</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 8%; text-align: right">1,167</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Canada</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">134</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">191</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">207</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">128</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">193</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">United States</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">943</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,032</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">875</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">510</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">977</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">Worldwide</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,175</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,211</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,029</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,593</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,337</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">__________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(*)</sup></font></td><td><font style="font-size: 8pt">International rig count
                                         excludes Iran, Sudan, onshore China, Russia and Syria (discontinued in February 2013).</font></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Percentage increase (decrease) over the previous year</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%"><font style="font-size: 10pt">International <sup>(*)</sup></font></td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">11</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">4</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">(1</td><td style="white-space: nowrap; width: 1%; text-align: left">%)</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">(18</td><td style="white-space: nowrap; width: 1%; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Canada</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(30</td><td style="white-space: nowrap; text-align: left">%)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(7</td><td style="white-space: nowrap; text-align: left">%)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">62</td><td style="white-space: nowrap; text-align: left">%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(34</td><td style="white-space: nowrap; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">United States</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(9</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">18</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">72</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(48</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">Worldwide</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">9</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">27</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(32</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%)</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">__________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(*)</sup></font></td><td><font style="font-size: 8pt">International rig count
                                         excludes Iran, Sudan, onshore China, Russia and Syria (discontinued in February 2013).</font></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 60 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>E.</b></td><td><b>Off-Balance Sheet Arrangements</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of December 31, 2019, the Company reported the following
financial commitments, consisting of guarantees in connection to its participation in the non-consolidated company Techgen:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td style="text-align: justify">On February 13, 2019, Techgen entered into a $640 million syndicated
loan agreement with several banks to refinance an existing loan, resulting in the release of certain corporate guarantee issued
by Techgen&#8217;s shareholders to secure the replaced facility.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Techgen&#8217;s obligations under the current facility, which is &#8220;non-recourse&#8221;
on the sponsors, are guaranteed by a Mexican security trust covering Techgen&#8217;s shares, assets and accounts as well as Techgen&#8217;s
affiliates rights under certain contracts. In addition, Techgen&#8217;s collection and payment accounts not subject to the trust
have been pledged in favor of the lenders under the new loan agreement, and certain direct agreements &#8211;customary for these
type of transactions&#8211; have been entered into with third parties and affiliates, including in connection with the agreements
for the sale of energy produced by the project and the agreements for the provision of gas and long-term maintenance services to
Techgen. The commercial terms and conditions governing the purchase, by the Company&#8217;s Mexican subsidiary Tamsa, of 22% of
the energy generated by the project remain unchanged.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Under the loan agreement, Techgen is committed to maintain a debt
service reserve account covering debt service becoming due during two consecutive quarters; such account is funded by stand-by
letters of credit issued for the account of Techgen&#8217;s sponsors in proportion to their respective participations in Techgen.
Accordingly, the Company and its Swiss subsidiary, Tenaris Investments Switzerland AG, applied for stand-by letters of credit covering
22% of the debt service coverage ratio, which as of December 31, 2019 amounts to $9.8 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td>Tenaris issued a corporate guarantee covering 22% of the outstanding value of natural gas transportation capacity agreements
entered into by Techgen with Kinder Morgan Gas Natural de Mexico S. de R.L. de C.V., and Kinder Morgan Texas Pipeline LLC for a
natural gas purchasing capacity of 150,000 million BTU per day starting on August 1, 2016 and ending on July 31, 2036, and a party
to a contract for the purchase of power generation equipment and other services related to the equipment. As of December 31, 2019,
our exposure under the guarantee in connection with these agreements amounted to $51.9 million and $0.9 million respectively.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td>SSPC issued corporate guarantees to secure repayment of loan agreements entered into by Global Pipe Company (&#8220;GPC&#8221;),
a Saudi line pipe producer, with Saudi Investment Development Fund, Saudi British Bank and Banque Saudi Fransi to finance GPC&#8217;s
capital expenditures and working capital. SSPC currently owns 35% of the share capital of GPC. As of December 31, 2019, SSPC&#8217;s
exposure under the guarantees amounted to $131.7 million.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, we have various off-balance sheet commitments,
as described in note 25 &#8220;Contingencies, commitments and restrictions on the distribution of profits &#8211; (ii) Commitments
and guarantees&#8221; to our audited consolidated financial statements included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>F.</b></td><td><b>Contractual Obligations</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table summarizes our contractual obligations at
December&nbsp;31, 2019, and the effect such obligations are expected to have on our liquidity and cash flow in future periods:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-style: italic">Millions of U.S. dollars</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold">At December 31, 2019</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 year or <br>
less</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 - 2 <br>
years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2 - 3 <br>
years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3 - 4 <br>
years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4 - 5 <br>
years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over 5 <br>
years</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 37%">Borrowings</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">781</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">17</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">24</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 6%; text-align: right">822</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 10pt">Interests to be accrued <sup>(*)</sup></font></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">13</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Purchase commitments (**)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">125</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">46</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">46</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">10</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">10</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">52</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">289</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">Lease Liabilities</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">38</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">31</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">28</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">19</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">92</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">230</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total contractual obligations and commitments</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">956</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">96</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">98</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">32</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">29</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">144</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,354</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(*)</sup></font></td><td><font style="font-size: 8pt">Includes the effect of
                                         hedge accounting.</font></td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(**)</sup></font></td><td><font style="font-size: 8pt">Only includes material
                                         commitments.</font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 61 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Purchase commitments as of December 31, 2019, disclosed in the
table above, consist of a commitment to purchase steel bars in the US amounting to $107.1 million (that became effective in January
2020), a commitment to purchase iron ore in Argentina amounting to $33.6 million; a contract for the service of natural gas transportation
in Argentina for an aggregate amount of $27.4 million; a contract for the service of oxygen and nitrogen supply amounting to $53.7
million, contracts for the supply of graphite electrodes amounting to $26.8 million, a rail transportation contract in Canada amounting
to $18.9 million, and a contract for the supply of argon gas in Mexico amounting to $21.2 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, a Tenaris subsidiary entered into a 25-year contract
(effective as of December 1, 2016, through December 1, 2041) with Techgen for the supply of 197 MW (which represents 22% of Techgen&#8217;s
capacity). Monthly payments are determined on the basis of capacity charges, operation costs, back-up power charges, and transmission
charges. As of the seventh contract year (as long as Techgen&#8217;s existing or replacing bank facility has been repaid in full),
the Tenaris subsidiary has the right to suspend or early terminate the contract if the rate payable under the agreement is higher
than the rate charged by the Comisi&#243;n Federal de Electricidad (&#8220;CFE&#8221;) or its successors. The Tenaris subsidiary
may instruct Techgen to sell to any affiliate, to CFE, or to any other third party all or any part of unused contracted energy
under the agreement and the Tenaris subsidiary will benefit from the proceeds of such sale.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For more information on our purchase commitments as of December
31, 2019, see note 25 &#8220;Contingencies, commitments and restrictions on the distribution of profits &#8211; (ii) Commitments
and guarantees&#8221; to our audited consolidated financial statements included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>G.</b></td><td><b>Recent Developments </b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Acquisition of IPSCO Tubulars, Inc.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><i>a)</i></td><td style="text-align: justify"><i>Acquisition</i></td></tr></table>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 2, 2020, Tenaris acquired 100% of the shares of IPSCO
Tubulars, Inc. (&#8220;IPSCO&#8221;), a U.S. manufacturer of steel pipes, from PAO TMK (&#8220;TMK&#8221;). The acquisition price
was determined on a cash-free, debt-free basis, and the amount paid in cash at the closing, following contractual adjustments for
cash, indebtedness, working capital and certain other items as estimated by the seller as of the closing date, was $1,067 million.
The final acquisition price is subject to a contractual true-up adjustment based on actual amounts of cash, indebtedness, working
capital and certain other items as of the closing date. On March 16, 2020, Tenaris delivered, for TMK&#8217;s review, a closing
statement prepared in accordance with the acquisition agreement, including Tenaris&#8217;s calculation of the closing price based
on actual amounts of cash, indebtedness, working capital and certain other items as of the closing date. In case of disagreement,
the parties are expected to engage in good-faith negotiations to solve any discrepancies. If the parties cannot resolve the disputed
amounts, the discrepancies must be submitted to and resolved by an independent accounting firm.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IPSCO&#8217;s facilities are located mainly in the midwestern and northeastern
regions of the country. IPSCO&rsquo;s steel shop in Koppel, Pennsylvania, is Tenaris&rsquo;s first in the United States, providing
vertical integration through domestic production of a relevant part of its steel bar needs. The Ambridge, Pennsylvania, mill adds
a second seamless manufacturing facility and complements Tenaris&rsquo;s seamless plant in Bay City, Texas. Given the abrupt and
steep decline in market demand, however, all of IPSCO&rsquo;s facilities are currently temporarily closed until market conditions
improve.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the closing of the transaction, subsidiaries
of Tenaris and TMK entered into a 6-year master distribution agreement (the &#8220;MDA&#8221;) whereby, effective on January 2,
2020, Tenaris became the exclusive distributor of TMK&#8217;s OCTG and line pipe products in the United States and Canada. At the
end of the MDA&#8217;s 6-years term, TMK will have the option to extend the duration of the MDA for an additional 12-month period.
Under the MDA, Tenaris is required to purchase minimum annual volumes of TMK-manufactured OCTG and line pipe products, based on
the aggregate market demand for the relevant product category in the United States in the relevant year. As of March 31, 2020,
Tenaris&#8217;s commitment under the MDA totaled approximately $512 million. In light of the adverse scenario of declining oil
and gas prices and unprecedented oversupply in the oil market Tenaris and TMK are engaging in good faith discussions to try and
identify mutually satisfactory accommodations under the MDA to minimize the negative impact of the crisis on both parties.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 62 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has begun consolidating IPSCO&#8217;s
balances and results of operations as from January 2, 2020.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The acquired business contributed revenues for $105 million
with a minor contribution to Tenaris&#8217;s margin for the period starting January 2, 2020 and ending March 31, 2020.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>b)</I></TD><TD STYLE="text-align: justify"><I>Fair value of net assets acquired</I></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The application of the purchase method requires certain estimates
and assumptions, including estimates and assumptions concerning the determination of the fair values of the acquired intangible
assets and property, plant and equipment as well as the liabilities assumed at the date of the acquisition. The fair values determined
at the acquisition date are based mainly on discounted cash flows and other valuation techniques.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The preliminary purchase
price allocation was carried out with the assistance of a third-party expert. Following IFRS 3, the Company will continue reviewing
the allocation and make any necessary adjustments (mainly over property, plant and equipment, intangible assets) during the twelve
months following the acquisition date.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preliminary allocation of the fair values determined for
the assets and liabilities arising from the acquisition is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Fair value of acquired assets and liabilities:</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">$ million</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 77%; text-align: left">Property, Plant and Equipment</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 20%; text-align: right">506</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">170</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Working capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cash and Cash Equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(53</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Provisions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(27</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(77</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Deferred tax liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net assets acquired</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">710</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris acquired total assets and liabilities shown above, for approximately
$1,067 million. As a result of the acquisition, the Company recognized goodwill for approximately $357 million. The goodwill is
not expected to be deductible for tax purposes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The goodwill generated by the acquisition is mainly attributable
to the synergy created following the integration between Tenaris and IPSCO, which is expected to enhance Tenaris&#8217;s position
as well as its local manufacturing presence in the U.S. market, and also expand its product range and services capabilities. The
goodwill has been allocated to the Tubes segment.&nbsp;After the conclusion of the preliminary purchase price allocation determination
and as a consequence of the unprecedented decline in oil prices and other changes in circumstances, the management has decided
to impair the goodwill mentioned above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Acquisition-related costs of $9.7 million were included in
general and administrative expenses ($9.4 and $0.3 in 2019 and 2020 respectively). For contingent liabilities related to the acquisition
see Item 8. A. &ldquo;Consolidated and Other Financial Information &ndash; Legal Proceedings&rdquo;.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For more information on impairment testing, see Item 5 &ldquo;Operating
and Financial Review and Prospects - Critical Accounting Estimates - Impairment and recoverability of goodwill and other assets&rdquo;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>The COVID-19 pandemic and the oil &amp; gas crisis and their
impact on Tenaris&#8217;s operations and financial condition</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A novel strain of coronavirus (SARS-CoV-2) surfaced in China
in December 2019 and subsequently spread to the rest of the world in early 2020. In March 2020, the World Health Organization declared
COVID-19, the disease caused by the SARS-CoV-2 virus, a global pandemic. In response to the COVID-19 outbreak, countries have taken
different measures in relation to prevention and containment. For example, several countries introduced bans on business activities
or locked down cities or countries, including countries where Tenaris has operations (such as Argentina, China, Colombia, Italy,
Mexico and the United States). The rapid expansion of the virus and the measures taken to contain it have triggered a severe fall
in global economic activity and a serious crisis in the energy sector.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While the extent of the effects of COVID-19 on the global
economy and oil demand were still unclear, in March 2020, the members of OPEC+ (OPEC plus other major oil producers including
Russia) did not agree to extend their agreement to cut oil production and Saudi Arabia precipitated a wave of additional supply
on the market triggering a collapse in oil prices below $30 per barrel. This exacerbated what soon became clear was an unprecedented
situation of oversupply, caused primarily by the sudden and dramatic fall in oil consumption consequent to the measures taken
to contain the spread of the virus around the world. Although OPEC+ subsequently reached an equally unprecedented agreement to
cut production by as much as 9.7 million barrels per day, a situation of acute oversupply remains, causing oil prices to hit record
lows. By the end of trading on April 20, 2020, the West Texas Intermediate (WTI) forward price for delivery in May, which had
to be closed out the following day, fell to a negative value for the first time in history, as oil storage facilities were completely
committed, and producers were forced to pay buyers to take their barrels. It is not known how long it will take for oil and gas
demand to recover or achieve a more balanced position between supply and demand. As a result, prices are expected to remain at
low levels for an extended period. In these circumstances, most of our customers have announced, or are making, significant cuts
to their investment plans and are likely to announce further cuts. Similarly, several of our suppliers are closing, either temporarily
or permanently, some of their facilities, which may result in unavailability or increased prices for our raw materials and other
inputs.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Status of our operations&nbsp;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are adjusting our operations on a country-by-country basis
to comply with applicable rules and requirements and adapt to this new, rapidly evolving scenario. As of the date of this annual
report, this is the status of our facilities:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td>In China, we are again fully operational, after several weeks of interruption and an extraordinary combined effort of our people
and of our community.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td>In Italy, production was greatly reduced; although our Dalmine facility
was used exclusively for the manufacturing of oxygen tanks to aid local hospitals and health centers for a limited period of time,
currently the facility is gradually resuming normal operations. In Argentina, Colombia, Mexico and Saudi Arabia, Tenaris decreased
its activity following the imposition of mandatory lockdowns, and our plants in these countries are currently operating at reduced
levels. Although the lockdowns or restrictions to operate in these countries are expected to end or be relaxed in the next few
weeks, these could be extended and/or made more stringent if so decided by the appropriate authorities as the circumstances could
require.</td></tr></table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<!-- Field: Page; Sequence: 63 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td>In the United States, our facilities in Koppel and Ambridge (PA), Brookfield
(OH), Blytheville (AR), Wilder (KY), and Odessa and Baytown (TX), have been or will be temporarily closed until market conditions
improve. In addition, Tenaris is in the process of performing employee reductions and adjusting production levels at its other
facilities in line with market demand.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to safeguard the health and safety of its employees,
customers and suppliers, Tenaris has taken preventive measures, including remote working for the majority of white collar employees,
restricting onsite access to essential operational personnel, keeping personnel levels at a minimum, implementing a special operations
protocol to ensure social distancing and providing medical assistance and supplies to onsite employees. As of the date of this
annual report, remote work and other work arrangements have not materially adversely affected Tenaris&#8217;s ability to conduct
operations. In addition, these alternative working arrangements have not adversely affected our financial reporting systems, internal
control over financial reporting or disclosure controls and procedures.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Risks associated with the COVID-19 pandemic and the oil &amp;
gas crisis</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Given the uncertainty around the extent and timing of the future
spread of the SARS-CoV-2 virus and the unprecedented extent of the oversupply on the oil market and the uncertainty about the timing
and extent of any recovery in demand, it is not possible at this time to predict the full magnitude of the adverse effects that
these two circumstances will have on our industry generally, nor to reasonably estimate the impact on Tenaris&#8217;s results of
operations, cash flows or financial condition.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Without limiting the generality of the risks described in Item
3. &#8220;Key Information &#8212;D. Risk Factors&#8212;Risks Relating to our Industry&#8221;, the COVID-19 pandemic and the ongoing
oil &amp; gas crisis poses the following main risks and challenges to Tenaris:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td>Global oil or gas demand may fail to recover or even decrease further
in the future, driving down prices even more or keeping them at very low levels, which would exert downward pressure on sales and
margins of oil and gas companies, leading to further reductions and even generalized suspension of drilling activities (in the
U.S. or elsewhere) and, as a result, materially adversely affecting our sales and financial position.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td>Tenaris or its employees, contractors, suppliers, customers and other business partners may be prevented from conducting certain
business activities for a prolonged or indefinite period of time. In addition, employees in some or all of our facilities, or those
of our contracts, suppliers, customers or other business partners, may refuse to work due to health concerns while the COVID-19
outbreak is ongoing, If that happens, the continuity of our future operations may be severely affected.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td>A continuing spread of COVID-19 may affect the availability and
price of raw materials, energy and other inputs used by Tenaris in its operations. Any such disruption or increased prices could
adversely affect Tenaris&rsquo;s profitability.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Mitigating actions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to mitigate the impact of expected lower sales, Tenaris
is working on a worldwide rightsizing program and cost containment plan aimed at preserving its financial resources and overall
liquidity position and maintaining the continuity of its operations. The actions include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Adjusting the level of our operations and workforce around the world, including through
the temporary closure of certain U.S. facilities or production lines, as indicated above;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Introducing efficiency and productivity improvements throughout Tenaris&rsquo;s industrial
system;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Downsizing our fixed cost structure, including through pay reductions for senior management
and board members, aggregating estimated total annual savings of approximately $220 million by year-end;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Reducing capital expenditures and R&amp;D expenses for approximately $150 million
when compared to 2019 levels;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Reducing working capital, especially inventories, in accordance with the expected
levels of activity; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Increasing our focus on managing customer credit conditions.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As part of these liquidity preservation initiatives, the board
of directors resolved to propose, for approval by the Annual Shareholders Meeting to be held on June 2, 2020, that no further dividends
be distributed in respect of fiscal year 2019 on top of the interim dividend of approximately $153 million already paid in November
2019.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<!-- Field: Page; Sequence: 64 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this annual report, our capital and financial
resources, and overall liquidity position, have not been materially affected by this new scenario. Tenaris has in place non-committed
credit facilities and management believes it has adequate access to the credit markets. In addition, Tenaris has a net cash position
of approximately $271 million as of the end of March 2020 and a manageable debt amortization schedule. Considering our financial
position and the funds provided by operating activities, management believes that we have sufficient resources to satisfy our current
working capital needs, service our debt and address short-term changes in business conditions. For more information on liquidity
and capital resources, see &#8220;&#8212;B. Liquidity and Capital Resources - Principal Sources of Funding&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Impairment of certain assets and other accounting implications</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with IFRS, management must test for impairment
all of Tenaris&#8217;s assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
Assets subject to testing include goodwill, intangible assets, investments in non-consolidated companies, long-lived assets and
right-of-use assets. In addition, management must test goodwill for impairment at least once a year whether or not there are indicators
of impairment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a result of the severe deterioration of business conditions
and in light of the presence of impairment indicators for its U.S. operations, Tenaris recorded impairment charges as of March
31, 2020, in the carrying values of goodwill and other asset values at the cash-generating units OCTG USA (Maverick), IPSCO, Rods
USA and Coiled Tubing, for an aggregate amount of approximately $622 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management does not expect to disclose or incur in any material
COVID-19-related contingency, and it considers its allowance for doubtful accounts sufficient to cover risks that could arise from
credits with customers in accordance with IFRS 9.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Closure of facilities at JFE&#8217;s Keihin steel complex</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our seamless pipe manufacturing facility in Asia, operated by
NKKTubes, is located in Kawasaki, Japan, in the Keihin steel complex owned by JFE. Steel bars and other essential inputs and services
for NKKTubes are supplied under a long-term agreement by JFE, which retains a 49% interest in NKKTubes. On March 27, 2020, JFE
informed Tenaris of its decision to permanently cease, as from JFE&#8217;s fiscal year ending March 2024, the operations of certain
of its steel manufacturing facilities and other facilities located at the Keihin complex. The closure of JFE&#8217;s Keihin facilities
may result in the unavailability of steel bars and other essential inputs or services used in NKKTubes&#8217; manufacturing process,
thereby affecting its operations. Tenaris and JFE have agreed to engage in discussions to seek mutually acceptable solutions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&nbsp;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Annual Dividend Proposal</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I></I></B></P>

<P STYLE="font-size: 10pt; margin: 0">On April 29, 2020, the Company&rsquo;s board of directors resolved to propose, for approval
by the annual shareholders meeting to be held on June 2, 2020, that no further dividends be distributed in respect of fiscal year
2019 beyond the interim dividend of approximately $153 million already paid in November 2019. For a discussion of the rationale
behind the dividend proposal, see Item 5G. &ldquo;Operating and Financial Review and Prospects &ndash;Recent Developments - The
COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&rsquo;s operations and financial condition.&rdquo;&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_008"></a>Item&nbsp;6.</b></td><td><b>Directors, Senior Management and Employees</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>A.</b></td><td><b>Directors and Senior Management</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Board of Directors</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management of the Company is vested in a board of directors
with the broadest power to act on behalf of the Company and accomplish or authorize all acts and transactions of management and
disposal that are within its corporate purpose and not specifically reserved in the articles of association or by applicable law
to the general shareholders&#8217; meeting<b>. </b>The Company&#8217;s articles of association provide for a board of directors
consisting of a minimum of three and a maximum of fifteen directors; however, for as long as the Company&#8217;s shares are listed
on at least one regulated market, the minimum number of directors must be five. The Company&#8217;s current board of directors
is composed of eleven directors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 65 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The board of directors is required to meet as often as required
by the interests of the Company and at least four times per year. In 2019, the Company&#8217;s board of directors met ten times.
A majority of the members of the board of directors in office present or represented at the board of directors&#8217; meeting constitutes
a quorum, and resolutions may be adopted by the vote of a majority of the directors present or represented. In the case of a tie,
the Chairman is entitled to cast the deciding vote.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Directors are elected at the annual ordinary general shareholders&#8217;
meeting to serve one-year renewable terms, as determined by the general shareholders&#8217; meeting. The general shareholders&#8217;
meeting also determines the number of directors that will constitute the board and their compensation. The general shareholders&#8217;
meeting may dismiss all or any one member of the board of directors at any time, with or without cause, by resolution passed by
a simple majority vote, irrespective of the number of shares represented at the meeting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&#8217;s articles of association provide that the
board of directors of the Company may within the limits of applicable law, (a) delegate to one or more persons, whether or not
members of the board of directors, the powers necessary to carry out its decisions and to provide day-to-day management (except
for approval of material transactions with related parties, which may not be delegated and shall be approved by the board of directors
prior opinion of the audit committee), (b) confer to one or more persons, whether or not members of board of directors the powers
deemed to be appropriate for the general technical administrative and commercial management of the Company, (c) constitute an audit
committee formed by directors, determining its function and authority, and (d) constitute any other committee, whose members may
or may not be members of the board of directors and determine their functions and authority. On May 6, 2019, the board of directors
appointed the Company&#8217;s chief executive as <i>administrateur d&#233;l&#233;gu&#233;</i> and delegated to him the power
to manage the Company&#8217;s affairs within the ordinary course of business, to the full extent permitted by Luxembourg law, to
direct and supervise the business activities of the Company&#8217;s subsidiaries and to represent the Company in relation to such
matters.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 6, 2019, the Company&#8217;s annual general shareholders&#8217; meeting re-elected Roberto Bonatti, Carlos Condorelli, Germ&#225;n Cur&#225;, Roberto Monti, Gianfelice Mario Rocca, Paolo
Rocca, Jaime Jos&#233; Serra Puche, Yves Speeckaert, M&#243;nica Tiuba, Amadeo V&#225;zquez y V&#225;zquez and Guillermo
Vogel, as members of its board of directors to serve until the next annual shareholders&#8217; meeting. The board of directors
subsequently reappointed Paolo Rocca as chairman and chief executive officer and Guillermo Vogel and Germ&#225;n Cur&#225;
as vice-chairmen of the Company. The following table sets forth the name of the Company&#8217;s current directors, their respective
positions on the board, their principal occupation, their years of service as board members and their age.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="width: 28%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Name</b></font></td>
    <td style="width: 8%; border-left: white 1.5pt solid; border-bottom: Black 1pt solid; border-right: white 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Position</b></font></td>
    <td style="width: 45%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Principal Occupation</b></font></td>
    <td style="width: 9%; border-left: white 1.5pt solid; border-bottom: Black 1pt solid; border-right: white 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Years as Director</b></font></td>
    <td style="width: 10%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Age at <br>
December 31, 2019</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid">&nbsp;</td>
    <td style="white-space: nowrap">&nbsp;</td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid">&nbsp;</td>
    <td style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Roberto Bonatti <sup>(1)</sup></font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td><font style="font-size: 10pt">President of San Faustin</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;17 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;70 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Carlos Condorelli</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td><font style="font-size: 10pt">Director of Tenaris and Ternium</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;13 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;68 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Germ&#225;n Cur&#225;</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Director and Vice Chairman of the Board of Tenaris</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;2 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;57 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Roberto Monti</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td><font style="font-size: 10pt">Director of Tenaris</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;15 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;80 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Gianfelice Mario Rocca <sup>(1)</sup></font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td><font style="font-size: 10pt">Chairman of the board of directors of San Faustin</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;17 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;71 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Paolo Rocca <sup>(1)</sup></font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td><font style="font-size: 10pt">Chairman and Chief Executive Officer of Tenaris </font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;18 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;67 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Jaime Jos&#233; Serra Puche</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td><font style="font-size: 10pt">Chairman of SAI Derecho &amp; Economia</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;17 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;68 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Yves Speeckaert</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td><font style="font-size: 10pt">Director of Tenaris</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;3 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;59 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Ms. M&#243;nica Tiuba</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td><font style="font-size: 10pt">Director of Tenaris</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;2 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;41 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Amadeo V&#225;zquez y V&#225;zquez</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td><font style="font-size: 10pt">Director of Tenaris</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;17 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;77 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Guillermo Vogel</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid"><font style="font-size: 10pt">Director</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Director and Vice Chairman of the Board of Tenaris</font></td>
    <td style="white-space: nowrap; border-right: white 1.5pt solid; border-left: white 1.5pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;17 </font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;69 </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">__________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(1)</sup></font></td><td><font style="font-size: 8pt">Paolo Rocca and Gianfelice Mario Rocca are brothers, and Roberto Bonatti
is Paolo and Gianfelice Mario Rocca&#8217;s first cousin.</font></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Roberto Bonatti</u>. Mr. Bonatti is a member of the Company&#8217;s
board of directors. He is a grandson of Agostino Rocca, founder of the Techint Group, a group of companies controlled by San Faustin.
Throughout his career in the Techint Group he has been involved specifically in the engineering and construction and corporate
sectors. He was first employed by the Techint Group in 1976, as deputy resident engineer in Venezuela. In 1984, he became a director
of San Faustin, and since 2001 he has served as its president. He is also a member of the board of directors of Ternium. Mr. Bonatti
is an Italian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Carlos Condorelli</u>. Mr. Condorelli is a member of the
Company&#8217;s board of directors.&nbsp;He served as the Company&#8217;s Chief Financial Officer from October 2002 until September
2007. He is also a board member of Ternium.&nbsp;He has held several positions within Tenaris, including also the Chief Financial
Officer position in some of the principal Tenaris Group companies and member of the Company&#8217;s audit committee between November
1, 2017 and May 2, 2018. He also served as president of the board of directors of Empresa Distribuidora La Plata S.A. (&#8220;Edelap&#8221;),
an Argentine utilities company. Mr. Condorelli is an Argentine citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 66 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Germ&#225;n Cur&#225;</u>. Mr. Cur&#225; is a member
of the Company&#8217;s board of directors and also holds the position of Vice Chairman of the Board. He served as president of
our operations in North America until May 2, 2018, a position held&nbsp;since 2006. He was first employed by Siderca in 1988. Previously,
he served as Siderca&#8217;s exports director, Tamsa&#8217;s exports director and commercial director, sales and marketing manager
of our Middle East subsidiary, president of Algoma Tubes, president and Chief Executive Officer of Maverick Tubulars and president
and Chief Executive Officer of Hydril, director of our Oilfield Services global business unit and Tenaris commercial director.
He was also a member of the board of directors of API and currently serves as a member of the board of directors of the American
Iron and Steel Institute (AISI) and of Deep Ocean AS. He is a marine engineer from the Instituto Tecnol&#243;gico de Buenos Aires
and an MBA graduated from the Massachusetts Institute of Technology. Mr. Cur&#225; is an U.S. citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Roberto Monti</u>. Mr. Monti is a member of the Company&#8217;s
board of directors and of its audit committee. He has served as vice president of exploration and production of Repsol YPF and
as chairman and Chief Executive Officer of YPF. He was a member of the board of directors of YPF until December 2019. He was also
the president of Dowell, a subsidiary of Schlumberger and the president of Schlumberger wire &amp; testing division for East Hemisphere
Latin America. Mr. Monti is an Argentine citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Gianfelice Mario Rocca</u>. Mr. Rocca is a member of the
Company&#8217;s board of directors. He is a grandson of Agostino Rocca. He is Chairman of the board of directors of San Faustin,
member of the board of directors of Ternium, president of the Humanitas Group and president of the board of directors of Tenova
S.p.A.&nbsp;Moreover, in Italy, he is member of the board of&nbsp;Bocconi University,&nbsp;of the advisory board of Politecnico
di Milano. At international level, he is member of&nbsp;the Harvard Business School Advisory Board and member of the European Round
Table of Industrialists (&#8220;ERT&#8221;). Mr. Rocca is an Italian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Paolo Rocca</u>. Mr. Rocca is the Chairman of the Company&#8217;s
board of directors and our Chief Executive Officer. He is a grandson of Agostino Rocca. He is also the chairman of the board of
directors of Ternium and a director and vice president of San Faustin. He is a member of the executive committee of the World Steel
Association. Mr. Rocca is an Italian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Jaime Jos&#233; Serra Puche</u>. Mr. Serra Puche is a member
of the Company&#8217;s board of directors and of its audit committee. He is the chairman of SAI Derecho &amp; Economia, a Mexican
consulting firm, and a member of the board of directors of the Mexico Fund, Grupo Vitro, and chairman of the board of BBVA Bancomer.
Mr. Serra Puche served as Mexico&#8217;s Undersecretary of Revenue, Secretary of Trade and Industry, and Secretary of Finance.
He led the negotiation and implementation of NAFTA. Mr. Serra Puche is a Mexican citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Yves Speeckaert</u>. Mr. Speeckaert is a member of the Company&#8217;s
board of directors. He served as director of KPMG Consulting in London, United Kingdom and Sao Paulo, Brazil, where he led various
high-profile engagements in the telecom, energy and agri-business industries. He was also director of structured finance of Banca
Intesa-Sanpaolo (London). Since 2010 he is a Luxembourg-based independent director of regulated investment funds (mostly private
equity, RE, and UCITS funds, as well as impact funds) and he is a member of the board of directors of several industrial holdings.
He is also active in carbon offsetting and climate change mitigation strategies with funds, governments and corporations particularly
as related to Corporate Environmental and Social Responsibility (ESR). He is a member of the Luxembourg Institute of Administrators
(ILA). He holds an MBA from the University of California at Berkeley and a B.A in Philosophy from the University of Louvain and
is a contributing and active member of the Alumni association of UC Berkeley. Mr. Speeckaert is a Belgian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>M&#243;nica Tiuba</u>. Ms. Tiuba is a member of the Company&#8217;s
board of directors and of the audit committee. She is a Brazilian qualified lawyer and accountant with over 17 years of professional
experience in Brazil and Luxembourg. She started her career at Barbosa, Mussnich &amp; Arag&#227;o law firm in Rio de Janeiro,
Brazil, where she practiced corporate law, M&amp;A and tax litigation. She worked in EY and PwC, in the Brazil and Luxembourg offices,
advising multinational clients, private equity houses and family offices. She gained banking experience working as international
senior wealth planner at Banque Edmond de Rothschild, in Luxembourg. She holds a specialization in EU tax law from Leiden University
and a Master of Laws in international taxation from Vienna University of Economics. Ms. Tiuba is a Brazilian and Luxembourgish
citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Amadeo V&#225;zquez y V&#225;zquez</u>. Mr. V&#225;zquez
y V&#225;zquez is a member of the Company&#8217;s board of directors and the chairman of its audit committee. He is a member
of the advisory board of the Fundaci&#243;n de Investigaciones Econ&#243;micas Latinoamericanas and member of the Asociaci&#243;n
Empresaria Argentina. He is a business consultant and previously served as Chief Executive Officer of Banco R&#237;o de la Plata
S.A. until August 1997, independent director and chairman of the audit committee of BBVA Banco Franc&#233;s S.A. until 2003,
Chairman of the board of directors of Telecom Argentina S.A. until April 2007 and independent alternate director of Gas Natural
Ban, S.A, of Grupo Gas Natural Fenosa until April 2018. Mr. V&#225;zquez y V&#225;zquez is a Spanish and Argentine citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 67 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Guillermo Vogel</u>. Mr. Vogel is a member of the Company&#8217;s
board of directors and also holds the position of Vice Chairman of the Board. He is the chairman of Grupo Collado and Exportaciones
IM Promoci&#243;n, and served as president of Canacero until April 16, 2018. Mr. Vogel is also a member of the board of directors
of each of Techint, S.A. de C.V., Alfa, Banco Santander (M&#233;xico) S.A, the Universidad Panamericana &#8211; IPADE, Corporaci&#243;n
Mexicana de Inversiones de Capital, Innovare, Grupo Assa and the American Iron and Steel Institute. In addition, he is a member
of The Trilateral Commission and member of the International Board of The Manhattan School of Music. Mr. Vogel is a Mexican citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At the next annual general shareholders&#8217; meeting, it will
be proposed that the number of directors be increased to twelve, that all of the current members of the board of directors be reappointed,
and that Mr. Simon Ayat be newly appointed to the board of directors, each to hold office until the next annual general shareholders&#8217;
meeting that will be convened to decide on the Company&#8217;s 2020 annual accounts. Below you will find Mr. Ayat&#8217;s biographical
information.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Simon Ayat.</u> Mr. Ayat served as Schlumberger&#8217;s executive
vice president and chief financial officer from 2007 until early 2020. He is currently a senior strategic advisor to the chief
executive officer of Schlumberger. Mr. Ayat has held several financial and operational positions in Schlumberger, where he commenced
his career in 1982. He was based in Paris, Houston and Dallas, as well as in the Middle East and Far East regions, serving as group
treasurer, controller, Geomarket manager for Indonesia and drilling regional vice president for Asia Pacific. Mr. Ayat is also
a member of the board of directors of Eurasia Drilling Company, the largest provider of drilling services in Russia. He is a French
and Lebanese citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Board members Monti, Serra Puche, Speeckaert, Tiuba, V&#225;zquez
y V&#225;zquez qualify as independent directors for purposes of the U.S. Securities Exchange Act Rule 10A-3(b)(1), and board
members Messrs. Monti, Serra Puche, Speeckaert, V&#225;zquez y V&#225;zquez also qualify as independent directors under the
Company&#8217;s articles of association. If appointed by the next annual general meeting of shareholders, Mr. Ayat would also qualify
as independent director for purposes of the U.S. Securities Exchange Act Rule 10A-3(b)(1) and under the Company&#8217;s articles
of association.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Directors&#8217; Liability</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each director must act in the interest of the Company, and in
accordance with applicable laws, regulations, and the Company&#8217;s articles of association. Directors are also bound by a general
duty of care owed to the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the Luxembourg law of August 10, 1915 on commercial companies,
as amended, (the &#8220;Luxembourg Company Law&#8221;), directors may be liable to the Company in accordance with the general law
for the execution of their mandate and for any misconduct in the management of the Company&#8217;s affairs. Directors are jointly
and severally liable towards either the Company or any third parties from damages resulting from the violation of the Luxembourg
Company Law or the Company&#8217;s articles of association. Directors shall be discharged from such liability in the case of a
violation to which they were not a party provided no misconduct is attributable to them and such violation has been reported to
the first general meeting of shareholders after they have acquired knowledge thereof.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Causes of action against directors for damages may be initiated
by the Company upon a resolution of the general shareholders&#8217; meeting passed by a simple majority vote, irrespective of the
number of shares represented at the meeting. Causes of action against directors who misappropriate corporate assets or commit a
breach of trust may be brought by any shareholder for personal losses different from those of the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An action may also be brought against the directors on behalf
of the Company by shareholders who, at the general meeting which decided upon discharge of such directors or members, owned voting
securities representing at least ten per cent of the votes attaching to all such securities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is customary in Luxembourg that the shareholders expressly
discharge the members of the board of directors from any liability arising out of or in connection with the exercise of their mandate
when approving the annual accounts of the Company at the annual general shareholders meeting. However, any such discharge will
not release the directors from liability for any damage caused by unrevealed acts of mismanagement or unrevealed breaches of the
Luxembourg Company Law or the Company&#8217;s articles of association, nor will it release the directors from liability for any
personal loss of the shareholders independent and separate from the losses suffered by the Company due to a breach either revealed
and unrevealed of either the Luxembourg Company Law or the Company&#8217;s articles of association.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Luxembourg law, unless the decision of the board of directors
relates to ordinary business entered into under normal conditions, any director having a direct or indirect financial interest
conflicting with that of the Company in a transaction which has to be considered by the board of directors, must advise the board
thereof and cause a record of her/his statement to be included in the minutes of the meeting and may not take part in the deliberations.
At the next following general meeting, before any other resolution is put to vote, a special report must be made on any transactions
in which any of the directors may have had an interest conflicting with that of the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Auditors</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Company&#8217;s articles of association
require the appointment of an independent audit firm in accordance with applicable law. The primary responsibility of the auditor
is to audit the Company&#8217;s annual accounts and consolidated financial statements and to submit a report on the accounts to
shareholders at the annual shareholders&#8217; meeting. In accordance with applicable law, auditors are chosen from among the members
of the Luxembourg Institute of Independent Auditors (<i>Institut des r&#233;viseurs d&#8217;entreprises</i>).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Auditors are appointed by the general shareholders&#8217;
meeting upon recommendation from the Company&#8217;s audit committee through a resolution passed by a simple majority vote, irrespective
of the number of shares represented at the meeting, to serve one-year renewable terms. Auditors may be dismissed by the general
shareholders&#8217; meeting at any time, with or without cause. Luxembourg law does not allow directors to serve concurrently as
external auditors. As part of their duties, the auditors report directly to the audit committee.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<!-- Field: Page; Sequence: 68 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Pursuant to its charter, the Company&#8217;s
audit committee is responsible for, among other things, the oversight of the independence and performance of the Company&#8217;s
external auditors. The audit committee is also responsible to consider and make recommendations to the board of directors, to be
put to shareholders for approval at the annual general meeting of shareholders, regarding the appointment, re-appointment or removal
of the Company&#8217;s external auditors.&nbsp;In addition, the audit committee is responsible to review the appropriateness and
provision of permitted non-audit fees and to review and approve any fees (whether for audit, audit-related and non-audit services)
payable to the Company&#8217;s external auditors. On a yearly basis, in the performance of its functions, the audit committee considers
the appointment of the Company&#8217;s external auditors and reviews, together with management and the external auditor, the audit
plan, audit related services and other non-audit services. The audit committee requests the board of directors to submit the audit
committee&#8217;s recommendation for the appointment of the Company&#8217;s external&nbsp;auditor&nbsp;for&nbsp;each&nbsp;fiscal
year and the&nbsp;payment of applicable&nbsp;fees, for final approval by&nbsp;the general shareholders&#8217; meeting. The general
shareholders&#8217; meeting regularly approves such audit fees and authorizes the audit committee to approve any increase or reallocation
of such audit fees as may be necessary, appropriate or desirable under the circumstances. No services outside the scope of the
audit committee&#8217;s approval can be undertaken by the external auditor.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The shareholders&#8217; meeting held on May
6, 2019, re-appointed PwC Luxembourg as the Company&#8217;s independent approved statutory auditor for the fiscal year ended December
31, 2019. At the next annual general shareholders&#8217; meeting, it will be proposed that PwC Luxembourg be re-appointed as the
Company&#8217;s independent approved statutory auditors for the fiscal year ending December 31, 2020.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Senior Management</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: left; text-indent: -17.85pt">Our current
senior management as of the date of this annual report consists of:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="width: 34%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Name</b></font></td>
    <td style="width: 40%; border-left: white 1.5pt solid; border-bottom: Black 1pt solid; border-right: white 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Position</b></font></td>
    <td style="width: 26%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Age at <br>
December 31, 2019</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td>
    <td style="white-space: nowrap">&nbsp;</td>
    <td style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Paolo Rocca</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Chairman and Chief Executive Officer</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;67 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Ms. Alicia M&#243;ndolo</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Chief Financial Officer</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;61 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Antonio Caprera</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Chief Industrial Officer</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;59 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Gabriel Casanova</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Chief Supply Chain Officer</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;61 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Alejandro Lammertyn</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Chief Digital and Planning Officer</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;54 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Ms. Paola Mazzoleni</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Chief Human Resources Officer</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;43 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Marcelo Ramos</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Chief Technology Officer</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;56 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Vicente Manjarrez</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">President, Andean</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;41</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Luca Zanotti</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">President, United States</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;52 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Sergio de la Maza</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">President, Mexico</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;63 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Ricardo Prosperi</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">President, Canada</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;57 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Renato Catallini</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">President, Brazil</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;53 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Javier Mart&#237;nez Alvarez</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">President, Southern Cone</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;53 </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Gabriel Podskubka</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">President, Eastern Hemisphere</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;46 </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">Mr. Michele Della Briotta</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">President, Europe</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">&nbsp;&nbsp;47 </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">__________</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in"><font style="font-size: 8pt">Effective
as of August 5,<sup></sup> 2019, Alicia M&#243;ndolo was appointed Chief Financial Officer replacing Edgardo Carlos, who resigned
from the Company.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in"><font style="font-size: 8pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><font style="font-size: 8pt">Effective
as of September 1<sup>,</sup> 2019, Guillermo G. Moreno ceased to act as President, Canada assuming new responsibilities in the
Company and was replaced by Ricardo Prosperi, and Vicente Majarrez was appointed President, Andean replacing Ricardo Prosperi.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Paolo Rocca</u>. Mr. Rocca is the Chairman of the Company&#8217;s
board of directors and our Chief Executive Officer. He is a grandson of Agostino Rocca. He is also the chairman of the board of
directors of Ternium and a director and vice president of San Faustin. He is a member of the executive committee of the World Steel
Association. Mr. Rocca is an Italian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Alicia M&#243;ndolo</u>. Ms. M&#243;ndolo currently serves
as our Chief Financial Officer, a position she assumed in August 2019. Ms. M&#243;ndolo joined the Techint Group in 1984 and
has more than 35 years of experience in accounting and reporting, audit and finance. From 2010 to 2016, she served as Chief Audit
Executive of Tenaris. Previously and from 2016 to 2019, she served as financial officer in several companies in the Techint Group.
Ms. M&#243;ndolo is an Argentine and Italian citizen.</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Antonio Caprera</u>. Mr. Caprera currently serves as our
Chief Industrial Officer, a position he assumed in April 2017. He joined the company in 1990. From 2000 to 2006 he served as quality
director at Dalmine in Italy, where he later assumed responsibilities as production director until 2012. From that year and until
2015 he served as production director at Siderca in Argentina, after which he assumed responsibilities as global industrial coordinator
based in Mexico until March 2017. Mr. Caprera is an Italian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 69 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Gabriel Casanova</u>. Mr. Casanova currently serves as our
Chief Supply Chain Officer, with responsibility for the execution of all contractual deliveries to customers. After graduating
as a marine and mechanical engineer, he joined Siderca&#8217;s export department in 1987. In 1995 he became Siderca&#8217;s Chief
Representative in China and from 1997 to 2009 he held several positions in the commercial area in Dalmine. In 2009 he became the
head of our supply chain network and in October 2012 he assumed his current position. Mr. Casanova is an Argentine citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Alejandro Lammertyn</u>. Mr. Lammertyn currently serves as
our Chief Digital and Planning Officer. He has served as our Chief Planning and Commercial Coordination Officer since 2013 and
assumed additional responsibility for digital strategy and implementation in January 2019. Mr. Lammertyn began his career with
Tenaris in 1990. Previously, he served as assistant to the chief executive officer for marketing, organization and mill allocation,
supply chain director, commercial director and Eastern Hemisphere area manager. Mr. Lammertyn is an Argentine citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Paola Mazzoleni</u>. Ms. Mazzoleni currently serves as our
Chief Human Resources Officer, a position she assumed on January 1, 2016. After receiving a degree in Philosophy, she started her
career in Dalmine in 2001 in the human resources department, working in recruitment and selection. She next coordinated the company&#8217;s
Global Trainee Program and then served as the regional head in Italy of Tenaris University. Ms. Mazzoleni was appointed as human
resources director in Romania in 2008, in Italy in 2012 and in the United States in 2014. Ms. Mazzoleni is an Italian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Marcelo Ramos</u>. Mr. Ramos currently serves as our Chief
Technology Officer, with responsibility over technology and quality. Previously he served as corporate quality director and managing
director of NKKTubes. He joined the Techint Group in 1987 and has held various positions within Tenaris. He assumed his current
position in April 2010, when the quality and technology departments were combined. Mr. Ramos is an Argentine citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Vicente Manjarrez</u>. Mr. Manjarrez is currently president
of our operations in the Andean Region, Central America and the Caribbean, based in Colombia. He began his career at our Tamsa
mill in Veracruz, Mexico in 2003 as part of the maintenance team and eventually adopted a leading role in the expansion of the
plant in 2009 as manager of the new rolling mill. In 2015 he moved to Romania to lead the technical sales team before returning
to Colombia to take on the role of senior commercial director in 2017. Mr. Manjarrez is a Mexican citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Luca Zanotti</u>. Mr. Zanotti currently serves as president
of our operations in the United States. In 2002, he joined Exiros, the procurement company for the Techint Group, as planning and
administration director. He was later promoted to raw materials director and in July 2007 became managing director of Exiros, a
position he held until 2010. He served as regional manager Europe, and managing director of Dalmine from 2011 to 2015, when he
assumed his current position. Before joining the Techint Group, he was a senior manager at A.T. Kearney in Milan, where he worked
from 1998 to 2002, and prior to that he held various business development positions in the Far East for Lovato Electric. Mr. Zanotti
is an Italian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Sergio de la Maza</u>. Mr. de la Maza currently serves as
our president, Mexico and also serves as managing director and executive vice-president of Tamsa. He first joined Tamsa in 1980.
From 1983 to 1988, Mr. de la Maza worked in several positions in Tamsa. He then became manager of Tamsa&#8217;s new pipe factory
and later served as manufacturing manager and quality director of Tamsa. Subsequently, he was named manufacturing director of Siderca.
He assumed his current position in 2003. Mr. de la Maza is a Mexican citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Ricardo Prosperi</u>. Mr. Prosperi currently serves as president
of our operations in Canada. He joined the Techint Group in 1985, working in the Siderar planning department. From 1985 to 1998,
Mr. Prosperi held several positions in Siderar before becoming the exports general manager of Sidor. He later went on to be the
commercial director in Siderar. After a period as president of Ternium Sidor in Venezuela and then International Area Manager for
Ternium, he joined Tenaris in 2010, where he has served as president of our operations in the Andean Region, Central America and
the Caribbean, based in Colombia. Mr. Prosperi is an Argentine citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Renato Catallini</u>. Mr. Catallini currently serves as president
of our operations in Brazil, a position that he assumed in October 2012, after having served as our supply chain director since
August 2007. He joined Tenaris in 2001 in the supply management area, as a general manager of Exiros Argentina. In July 2002, he
was appointed operations director and subsequently, in January 2005, became managing director of Exiros. Before joining Tenaris,
he worked for ten years in the energy sector, working for TGN, Nova Gas Internacional, TransCanada Pipelines and TotalFinaElf,
among others. Mr. Catallini is an Argentine and Italian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Javier Mart&#237;nez &#193;lvarez</u>. Mr. Mart&#237;nez
&#193;lvarez currently serves as president of our operations in the Southern Cone, a position he assumed in June 2010, having
previously served as our Andean area manager. He began his career in the Techint Group in 1990, holding several positions including
planning manager of Siderar and commercial director of Ternium-Sidor. In 2006, he joined Tenaris as our Venezuela area manager.
Mr. Mart&#237;nez Alvarez is an Argentine citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 70 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Gabriel Podskubka</u>. Mr. Podskubka currently serves as
president of our operations in the Eastern Hemisphere, based in Dubai. He assumed his current position in April 2013 after serving
as the head of our operations in Eastern Europe for four years. After graduating as an industrial engineer Mr. Podskubka joined
the Techint Group in 1995 in the marketing department of Siderca. He held various positions in the marketing, commercial, and industrial
areas until he was appointed as oil &amp; gas sales director in the United States in 2006. Mr. Podskubka is an Argentine citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>Michele Della Briotta</u>. Mr. Della Briotta currently serves
as president of our operations in Europe, a position he assumed in July 2016. He first joined Tenaris in 1997 and has worked in
areas such as industrial planning, operations, supply chain and commercial in Italy, Mexico, Argentina and the United States. Most
recently he served as Tenaris&#8217;s area manager for Romania. Mr. Della Briotta is an Italian citizen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 28.35pt; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Compensation</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The compensation payable to the members of
the Company&#8217;s board of directors for their performance of their services to the Company is determined at the annual ordinary
general shareholders&#8217; meeting. The general meeting of shareholders held on May 6, 2019 approved the compensation paid to
directors for the performance of their duties during the fiscal year 2019, and resolved that (i) each director receive a fixed
compensation for an amount of $115,000; (ii) each director who is also a member of the Company&#8217;s audit committee receives
an additional fee of $55,000 and; (iii) the chairman of the Company&#8217;s audit committee receives an additional fee of $10,000.
No variable compensation has been paid or shall be payable to directors for services rendered during the year 2019 and no long-term
incentive or pension plan is available to directors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><font style="font-weight: normal">The compensation
paid to the Company&#8217;s managing director or chief executive officer is determined by the board of directors. The cash compensation
paid or payable to chief executive officer for the performance of his duties during the year 2019 amounts to $7 million, of which
$3 million corresponds to fixed compensation and $4 million corresponds to variable compensation. No long-term incentive or pension
plan is awarded to the chief executive officer.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><font style="font-weight: normal">The aggregate
cash compensation paid to all directors and senior managers of the Company for the year 2019 amounted to $33.7 million. This amount
includes cash benefits paid to certain senior managers in connection with pre-existing retirement plans. In addition, senior managers
received for the year 2019, 468,558 units for a total amount of $4.8 million in connection with the Employee retention and long-term
incentive program described in note O (3) &#8220;Employee benefits - Other long term benefits&#8221; to our audited consolidated
financial statements included in this annual report.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><font style="font-weight: normal">The Luxembourg
Parliament enacted the Luxembourg Law of August 1, 2019 (amending the Luxembourg Law of May 24, 2011) (the &#8220;Shareholders&#8217;
Rights Law&#8221;) on the exercise of certain rights of shareholders in general meetings of listed companies, which transposes
EU Directive 2017/828 of the European Parliament and of the Council of May 17, 2017 (amending Directive 2007/36/EC) regarding the
encouragement of long-term shareholder engagement in listed companies within the Member States of the European Union. In compliance
with the Shareholders&#8217; Rights Law, the Company&#8217;s board of directors must approve a Compensation Policy setting forth
the principles and guidelines for purposes of determining the compensation payable to the members of the Company&#8217;s board
of directors and the managing director or chief executive officer and a Compensation Report describing the compensation paid to
directors and the chief executive officer for the performance of their duties during the year ended December 31, 2019. In accordance
with the Shareholders&#8217; Rights Law, once approved by the Company&#8217;s board of directors, the Compensation Policy and the
2019 Compensation Report will be made available on the Company&#8217;s website and will be submitted to the non-binding vote of
the shareholders at the next general meeting of shareholders of the Company to be held on June 2, 2020.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 28.35pt"><b>C.</b></td><td><b>Board Practices</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See A. &#8220;&#8211; Directors and Senior Management &#8211;
Board of Directors&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Audit Committee</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Company&#8217;s articles of association, as
supplemented by the audit committee&#8217;s charter, for as long as our shares are listed on at least one regulated market, the
Company must have an audit committee composed of at least three members, the majority of whom must qualify as independent directors,
provided, however, that the composition and membership of the audit committee shall satisfy such requirements as are applicable
to, and mandatory for, audit committees of issuers such as the Company under any law, rule or regulation applicable to the Company
(including, without limitation, the applicable laws, rules and regulations of such regulated market or markets).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 71 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Under the Company&#8217;s articles of association,
an independent director is a director who:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">is not and has not been employed by us or our subsidiaries in an executive capacity for the preceding
five years;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">is not a person that controls us, directly or indirectly, and is not a member of the board of directors
of a company controlling us, directly or indirectly;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">does not have (and is not affiliated with a company or a firm that has) a significant business relationship
with us, our subsidiaries or our controlling shareholder;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">is not and has not been affiliated with or employed by a present or former auditor of us, our subsidiaries
or our controlling shareholder for the preceding five years; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">is not a spouse, parent, sibling or relative up to the third degree of any of the above persons.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The audit committee of the Company&#8217;s
board of directors currently consists of four members: Roberto Monti, Jaime Jos&#233; Serra Puche, M&#243;nica Tiuba and Amadeo
V&#225;zquez y V&#225;zquez, who were appointed to the audit committee by the Company&#180;s board of directors on May 6,
2019. All of them qualify as independent directors for purposes of the U.S. Securities Exchange Act Rule 10A-3(b)(1), and Messrs.
Monti, Serra Puche and V&#225;zquez y V&#225;zquez also qualify as independent directors under the Company&#8217;s articles
of association. The board of directors of the Company has determined that Ms. Tiuba is competent in accounting and auditing matters.
In addition, the membership of the audit committee as a whole has sufficient relevant knowledge of the business and financial experience
to properly discharge its functions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The audit committee operates under a charter
which has been amended and restated by the board of directors on October 31, 2018, to implement adequate procedures to discharge
the audit committee&#8217;s duties and responsibilities under applicable law, including the Luxembourg Law of July 23, 2016, concerning
the audit profession (&#8220;Audit Reform Law&#8221;). The audit committee assists the board of directors in its oversight responsibilities
relating to (i) the integrity of the Company&#8217;s financial statements; (ii) the effectiveness of the Company&#8217;s systems
of internal control, risk management and internal audit over financial reporting; and (iii) the independence and performance of
the Company&#8217;s external auditors. The audit committee also performs other duties entrusted to it by the Company&#8217;s board
of directors or required to be performed by it under applicable laws and regulations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">In addition, the audit committee is required
by the Company&#8217;s articles of association to review &#8220;material transactions&#8221;, as such term is defined under the
Company&#8217;s articles of association and audit committee&#8217;s charter, between the Company or its subsidiaries and &#8220;related
parties&#8221;, as such term is defined in the Company&#8217;s articles of association, in order to determine whether their terms
are consistent with market conditions or are otherwise fair to the Company and/or its subsidiaries. In the case of material transactions
entered into by the Company&#8217;s subsidiaries with related parties, the Company&#8217;s audit committee is only required to
review transactions entered into by those subsidiaries whose boards of directors do not have independent members.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Under the Company&#8217;s articles of association,
as supplemented by the audit committee&#8217;s charter, a material transaction is:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>any transaction between the Company or its subsidiaries with related parties (i) with an individual value equal to or greater
than $10 million, or (ii) with an individual value lower than $10 million, when the aggregate sum &#8211; as reflected in the financial
statements of the four fiscal quarters of the Company preceding the date of determination- of any series of transactions for such
lower value that can be deemed to be parts of a unique or single transaction (but excluding any transactions that were reviewed
and approved by Company&#8217;s audit committee or board of directors, as applicable, or the independent members of the board of
directors of any of its subsidiaries) exceeds 1.5% of the Company&#8217;s consolidated net sales made in the fiscal year preceding
the year on which the determination is made;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>any corporate reorganization transaction (including a merger, spin-off or bulk transfer of a business) affecting the Company
for the benefit of, or involving, a related party; <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>any corporate reorganization transaction (including a merger, spin-off or bulk transfer of a business) not reviewed and approved
by the independent members of the board of directors of any of the Company&#8217;s direct or indirect subsidiaries, affecting any
of the Company&#8217;s direct or indirect subsidiaries for the benefit of, or involving, a related party.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">A &#8220;related party&#8221; is, in relation
to the Company or its direct or indirect subsidiaries, any of the following persons: (i) a member of the board of directors of
the Company or of the board of directors or other governing body of any of the Company&#8217;s subsidiaries; (ii) any company or
person that controls directly or indirectly the Company or is a member of the board of directors or other governing body of an
entity that controls directly or indirectly the Company; (iii) any entity that directly or indirectly controls or is under common
control with the Company (other than the Company&#8217;s subsidiaries); (iv) any entity directly or indirectly controlled by any
member of the board of directors of the Company, or of the board of directors or other governing body of any subsidiary of the
Company; and (v) any spouses, parents, siblings or relatives up to the third degree of, and any person that shares a home with,
any person referred to in (i) or (ii).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<!-- Field: Page; Sequence: 72 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The audit committee has the power (to the
maximum extent permitted by applicable laws) to request that the Company or relevant subsidiary promptly provide all information
necessary for the audit committee to assess the material transactions with related parties that it is required to review. A material
related party transaction shall not be entered into without prior review by the Company&#8217;s audit committee and subsequent
approval by the board of directors unless (i) the circumstances underlying the proposed transaction justify that it be entered
into before the time it can actually be reviewed by the Company&#8217;s audit committee or approved by the board of directors and
(ii) the related party agrees to unwind the transaction if the Company&#8217;s board of directors does not approve it.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The audit committee has the authority to conduct any investigation
appropriate to the fulfillment of its responsibilities and has direct access to the Company&#8217;s external auditors as well as
anyone in the Company and, subject to applicable laws and regulations, its subsidiaries. In addition, the audit committee may engage,
at the Company&#8217;s expense, independent counsel and other internal or external advisors to review, investigate or otherwise
advise on, any matter as the committee may determine to be necessary to carry out its purposes and responsibilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, the Company has established at management-level
a critical risk committee (&#8220;CRC&#8221;) that assists the Company&#8217;s board of directors, the audit committee and the
Chief Executive Officer with the oversight of risks to which Tenaris is exposed and in the monitoring and review of the risk management
framework and processes, with a focus on those risks deemed to be critical. In the performance of its functions, the critical risk
committee facilitates the identification and assessment of critical risks (including cybersecurity, environmental, health and safety,
product liability, intellectual property, financial reporting and regulatory risks), the development of mitigating actions, and
the monitoring of action plans. The critical risk committee periodically reports to the board of directors, the audit committee
and the Chief Executive Officer on its activities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">More recently, the CRC has focused its attention on the main
actions and mitigation plans to tackle the consequences of the global coronavirus pandemic and ensure business continuity. It is
also focusing on the financial impact on the company of a collapse in demand for its products, including the cancellation of existing
orders, following the collapse in oil prices in the wake of the coronavirus pandemic.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>D.</b></td><td><b>Employees</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table shows the number of persons employed by
Tenaris as of December 31:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 46%">Argentina</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 14%; text-align: right">5,405</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 14%; text-align: right">5,427</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 14%; text-align: right">5,221</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Mexico</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,370</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,595</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,139</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>USA</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,255</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,382</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,953</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Italy</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,144</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,155</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,088</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Romania</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,815</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,852</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,870</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Brazil</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,360</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,287</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,382</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Colombia</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,040</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,082</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,003</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Canada</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">772</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,030</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">919</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Indonesia</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">616</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">554</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">506</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Japan</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">400</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">399</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">410</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Other Countries</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,023</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,204</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,114</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">23,200</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">22,967</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">21,605</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The number of our employees remained substantially stable in
2019 in comparison with 2018. Our labor costs worldwide related to continuing operations increased 2%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Approximately 60% of our employees are unionized. In all the
countries we have presence, we operate in full respect of the institutional rules and local norms, generating recognized agreements
among all the parties involved. We forge our relations with the unions based on the premise of an open dialogue and a rich interchange
of proposals.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In 2017, 2018 and 2019, our operations in Mexico experienced
several days of union-led stoppages due to an internal dispute within the local union, but the activities in our plant remain normal.
Such internal dispute is ongoing and we cannot assure it will not cause further disruptions in our Mexican operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With the acquisition of IPSCO Tubulars in 2020, for the first
time Tenaris will be managing a unionized environment in the United States in some of the new added facilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 73 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>E.</b></td><td><b>Share Ownership</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To our knowledge, the total number of shares (in the form of
ordinary shares or ADSs) beneficially owned by our directors and senior management as of the date of this annual report was 921,603,
which represents 0.08% of our outstanding shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table provides information
regarding share ownership by our directors and senior management:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">Director or Officer</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of Shares Held</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%; text-align: left">Guillermo Vogel</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 36%; text-align: right">850,446</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Carlos Condorelli</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">67,211</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">Gabriel Podskubka</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,946</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">921,603</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 1in"><b><a name="a_009"></a>Item&nbsp;7.</b></td><td style="text-align: justify"><b>Major Shareholders and Related Party Transactions</b></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>A.</b></td><td><b>Major Shareholders</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table shows the beneficial ownership of our securities
(in the form of shares or ADSs) by (1) the Company&#8217;s major shareholders (persons or entities that have notified the Company
of holdings in excess of 5% of the Company&#8217;s share capital), non-affiliated public shareholders, and (2) the Company&#8217;s
directors and senior management as a group. The information below is based on the most recent information provided to the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Identity of Person or Group</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; text-align: right">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%; text-align: justify"><font style="font-size: 10pt">San Faustin <sup>(1)</sup></font></td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 16%; text-align: right">713,605,187</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 16%; text-align: right">60.45</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Directors and senior management as a group</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">921,603</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.08</td><td style="white-space: nowrap; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 1pt">Public</td><td>&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">466,010,040</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">39.47</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; padding-bottom: 1pt">Total</td><td style="font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,180,536,830</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">100.00</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">%</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">__________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(1)</sup></font></td><td><font style="font-size: 8pt">San Faustin owns all of
                                         its shares in the Company through its wholly-owned subsidiary Techint Holdings S.&#224;
                                         r.l. The private foundation located in the Netherlands RP STAK holds voting rights in
                                         San Faustin sufficient in number to control San Faustin. No person or group of persons
                                         controls RP STAK.</font></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The voting rights of the Company&#8217;s major shareholders
do not differ from the voting rights of other shareholders. None of its outstanding shares have any special control rights. There
are no restrictions on voting rights, nor are there, to the Company&#8217;s knowledge, any agreements among shareholders of the
Company that might result in restrictions on the transfer of securities or the exercise of voting rights.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company does not know of any significant agreements or other
arrangements to which the Company is a party and which take effect, alter or terminate in the event of a change of control of the
Company. The Company does not know of any arrangements, the operation of which may at a later date result in a change of control
of the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>B.</b></td><td><b>Related Party Transactions</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris is a party to several related party transactions as
described in Note 30 &#8220;Related party transactions&#8221; to our Consolidated Financial Statements included in this annual
report. Material related party transactions are subject to the review of the audit committee of the Company&#8217;s board of directors
and the requirements of Luxembourg law. For further details on the approval process for related party transactions, see Item&nbsp;6.C.
&#8220;Directors, Senior Management and Employees &#8211; Board Practices &#8211; Audit Committee&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Purchases of Steel Products and Raw Materials</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the ordinary course of business, we purchase round steel
bars, flat steel products and other raw materials from Ternium or its subsidiaries. These purchases are made on similar terms and
conditions as sales made by these companies to unrelated third parties. These transactions include:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Purchases of round steel bars made under a long-term agreement, for use in our seamless steel pipe operations in Mexico, which
amounted to $51 million in 2019, $102 million in 2018 and $120 million in 2017.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 74 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Purchases of flat steel products for use in the production of welded pipes and accessories, which amounted to $20 million in
2019, $38 million in 2018 and $43 million in 2017.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Purchases of scrap and other raw materials for use in the production of seamless pipes, which amounted to $4 million in 2019
and $2 million in 2018.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the ordinary course of business, we purchase flat steel products
for use in our welded steel pipe operations, from Usiminas. These purchases, which are made on similar terms and conditions as
sales made by this company to unrelated third parties, amounted to $59 million in 2019, $68 million in 2018 and $43 million in
2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Sales of Raw Materials</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the ordinary course of business, we sell raw materials and
other production inputs to Ternium or its subsidiaries. These sales are made on similar terms and conditions as purchases made
by these companies from unrelated third parties. These transactions include:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Sales of ferrous scrap, and other raw materials, which amounted to $17 million in 2019, $11 million in 2018 and $26 million
in 2017.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Sales of steam and operational services from our Argentine electric power generating facility in San Nicol&#225;s. These
sales amounted to $1 million in 2019, $13 million in 2018 and $11 million in 2017. On January 29, 2019, the electric power generation
facility was shut down.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Purchase Agency Services and Sales of Materials</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exiros B.V. (&#8220;Exiros&#8221;), in which we have 50% share
ownership and Ternium has the remaining 50% share ownership, provides purchase agency services and raw materials and other products
to Tecpetrol and other companies controlled by San Faustin. Pursuant to the Exiros shareholders&#8217; agreement, Tenaris recognizes
Exiros&#8217; assets, liabilities, revenue and expenses in relation to its interest in the joint operation. Exiros&#8217; total
sales to companies controlled by San Faustin totaled $16 million in 2019 and $16 million in 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Supply of Electric Energy</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&nbsp;</b></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Techgen, which is currently owned 48% by Ternium, 30% by Tecpetrol
and 22% by Tenaris, operates an electric power plant in Pesquer&#237;a, Mexico. Techgen became fully operational on December
1, 2016. Ternium and Tenaris currently contract 78% and 22%, respectively, of Techgen&#8217;s power capacity. Techgen sells to
third parties on behalf of Tenaris the unused electricity that Tenaris purchased from Techgen.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Techgen net sales of electricity to Tenaris amounted to $40
million in 2019, $36 million in 2018 and $29 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Supply of Natural Gas</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are party to contracts with Tecpetrol, TGN, Litoral Gas and
Energy Consulting Services relating to the supply of natural gas to our operations in Argentina. Tecpetrol is a company controlled
by San Faustin, engaged in oil and gas exploration and production and has rights to various oil and gas fields in Argentina and
elsewhere in Latin America. TGN, a company in which San Faustin has joint control since October 2019, operates two major pipelines
in Argentina connecting the major gas basins of Neuqu&#233;n and Noroeste-Bolivia to the major consumption centers in Argentina,
Litoral Gas is a company that holds the regional license for gas and distribution in the Province of Santa Fe and in the northeastern
section of the Province of Buenos Aires. Energy Consulting Services is a company engaged in energy and management consulting, representing
one of the major natural gas traders in Argentina. San Faustin holds significant but non-controlling interests in Litoral Gas and
Energy Consulting Services and also held significant but non-controlling interests in TGN until October 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tecpetrol supplies Siderca with natural gas requirements under
market conditions and according to local regulations. Tecpetrol&#8217;s sales to Tenaris amounted to $49 million in 2019, $95 million
in 2018 and $7 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TGN charges Siderca a price to transport its natural gas supplies
that is equivalent on a comparable basis to prices paid by other industrial users. The Argentine government regulates the general
framework under which TGN operates and prices its services. TGN&#8217;s sales to Tenaris amounted to $4 million in 2019, $8 million
in 2018 and $3 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Litoral Gas&#8217;s sales to Tenaris totaled $1 million in 2019,
$3 million in 2018 and $5 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Energy Consulting Services&#8217;s sales to Tenaris totaled
$2 million in 2018 and $7 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 75 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Provision of Engineering and Labor Services</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris contracts with certain companies controlled by San Faustin
specialized in supplying engineering services and non-specialist manual labor services, such as industrial cleaning, general maintenance,
handling of by-products and construction services. Fees accrued for these services in the aggregate amounted to $47 million in
2019, $33 million in 2018 and $40 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Sales of Steel Pipes and Sucker Rods</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the ordinary course of business, we sell steel pipes, sucker
rods and related services to other companies controlled or under the significant influence of San Faustin. These sales, which are
made principally to companies involved in the construction of gas pipelines and to Tecpetrol and joint ventures in which Tecpetrol
participates, for its oil and gas drilling operations, are made on similar terms and conditions as sales to unrelated third parties.
Our sales of steel pipes and sucker rods as well as logistical and certain other services to other companies controlled or under
significant influence of San Faustin amounted to $66 million in 2019, $129 million in 2018 and $95 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Sales of Other Products and Services</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We provide information technology services to companies controlled
by San Faustin. Sales of these services amounted to $2 million per year in 2019, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Administrative Services, Legal and Other Support Services</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Finma S.A. (&#8220;Finma&#8221;), Arhsa S.A. (&#8220;Arhsa&#8221;)
and Techinst S.A. (&#8220;Techinst&#8221;) a group of companies controlled by San Faustin in which the Company has a 33% share
ownership and other affiliates of San Faustin have the remaining share ownership, provide administrative, and legal support services
to San Faustin&#8217;s affiliates in Argentina, including Tenaris. During 2018, Arhsa merged with Finma, with Finma continuing
to render the services previously provided by Arhsa. Fees accrued for these services amounted to $9 million in 2019, $10 million
in 2018 and $12 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Loans to Related Parties</b></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris financed the construction and operation of Techgen&#8217;s
Pesquer&#237;a project primarily in the form of subordinated loans to Techgen. Outstanding principal amount of loans to Techgen
as of December 31, 2019 amounted to $58 million, as of December 31, 2018 amounted to $99 million, and as of December 31, 2017 amounted
to $93 million. These loans generated interest gains in favor of Tenaris in an amount of $4 million in 2019, $5 million in 2018
and $4 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Other Transactions</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We entered into various contracts with Tenova (and subsidiaries),
a company controlled by San Faustin, for the provision of furnaces, spare parts, accessories and related services for our facilities.
Supplies received amounted to $2 million in 2019, $9 million in 2018 and $3 million in 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, in the ordinary course of business, from time to
time, we carry out other transactions and enter into other arrangements with other related parties, none of which are considered
to be material.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>C.</b></td><td><b>Interest of Experts and Counsel</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_010"></a>Item&nbsp;8.</b></td><td><b>Financial Information</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>A.</b></td><td><b>Consolidated Statements and Other Financial Information</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See Item&nbsp;18 and pages F-1 through F-64 for our audited
consolidated financial statements.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Legal Proceedings</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris is from time to time subject to various claims, lawsuits
and other legal proceedings, including customer, employee, tax and environmental-related claims, in which third parties are seeking
payment for alleged damages, reimbursement for losses, or indemnity. Management with the assistance of legal counsel periodically
reviews the status of each significant matter and assesses potential financial exposure.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 76 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Some of these claims, lawsuits and other legal proceedings involve
highly complex issues, and often these issues are subject to substantial uncertainties and, therefore, the probability of loss
and an estimation of damages are difficult to ascertain. Accordingly, with respect to a large portion of such claims, lawsuits
and other legal proceedings, Tenaris is unable to make a reliable estimate of the expected financial effect that will result from
ultimate resolution of the proceeding. In those cases, Tenaris has not accrued a provision for the potential outcome of these cases.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If a potential loss from a claim, lawsuit or other proceeding
is considered probable and the amount can be reasonably estimated, a provision is recorded. Accruals for loss contingencies reflect
a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of
the consolidated financial statements and take into consideration litigation and settlement strategies. In a limited number of
ongoing cases, Tenaris was able to make a reliable estimate of the expected loss or range of probable loss and has accrued a provision
for such loss but believes that publication of this information on a case-by-case basis would seriously prejudice Tenaris&#8217;s
position in the ongoing legal proceedings or in any related settlement discussions. Accordingly, in these cases, the Company has
disclosed information with respect to the nature of the contingency but has not disclosed its estimate of the range of potential
loss.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company believes that the aggregate provisions recorded
for potential losses in its consolidated financial statements (see notes 22 &#8220;Non-current allowances and provisions&#8221;
and 23 &#8220;Current allowances and provisions&#8221; to our audited consolidated financial statements included in this annual
report) are adequate based upon currently available information. However, if management&#8217;s estimates prove incorrect, current
reserves could be inadequate and Tenaris could incur a charge to earnings which could have a material adverse effect on Tenaris&#8217;s
results of operations, financial condition, net worth and cash flows.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Material Legal Proceedings</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Below is a summary description of Tenaris&#8217;s material legal
proceedings for the year ended December 31, 2019. In addition, Tenaris is subject to other legal proceedings, none of which is
believed to be material.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>CSN claims relating to the January 2012 acquisition of
Usiminas&#8217; shares</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Confab Industrial S.A. (&#8220;Confab&#8221;), a Brazilian subsidiary
of the Company, is one of the defendants in a lawsuit filed in Brazil by Companhia Sider&#250;rgica Nacional (&#8220;CSN&#8221;)
and various entities affiliated with CSN against Confab and several Ternium subsidiaries that acquired a participation in Usiminas&#8217;
control group in January 2012.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The CSN lawsuit alleges that, under applicable Brazilian laws
and rules, the acquirers were required to launch a tag-along tender offer to all non-controlling holders of Usiminas&#8217; ordinary
shares for a price per share equal to 80% of the price per share paid in such acquisition, or BRL28.8, and seeks an order to compel
the acquirers to launch an offer at that price plus interest. If so ordered, the offer would need to be made to 182,609,851 ordinary
shares of Usiminas not belonging to Usiminas&#8217; control group, and Confab would have a 17.9% share in that offer.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 23, 2013, the first instance court dismissed the
CSN lawsuit, and on February 8, 2017, the court of appeals maintained the understanding of the first instance court. On March 6,
2017, CSN filed a motion for clarification against the decision of the Court of Appeals of S&#227;o Paulo, which was rejected
on July 19, 2017. On August 18, 2017, CSN filed an appeal to the Superior Court of Justice seeking the review and reversal of the
decision issued by the Court of Appeals. On March 5, 2018, the court of appeals ruled that CSN&#8217;s appeal did not meet the
requirements for submission to the Superior Court of Justice and rejected the appeal. On May 8, 2018, CSN appealed against such
ruling and on January 22, 2019, the court of appeals rejected it and ordered that the case be submitted to the Superior Court of
Justice. On September 10, 2019, the Superior Court of Justice declared CSN&#8217;s appeal admissible. The Superior Court of Justice
will review the case and then render a decision on the merits. The Superior Court of Justice is restricted to the analysis of alleged
violations to federal laws and cannot assess matters of fact.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris continues to believe that all of CSN&#8217;s claims
and allegations are groundless and without merit, as confirmed by several opinions of Brazilian legal counsel, two decisions issued
by the Brazilian securities regulator (CVM) in February 2012 and December 2016, and the first and second instance court decisions
referred to above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Veracel Celulose Accident Litigation</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 21, 2007, an accident occurred in the premises
of Veracel Celulose S.A. (&#8220;Veracel&#8221;) in connection with a rupture in one of the tanks used in an evaporation system
manufactured by Confab. The Veracel accident allegedly resulted in material damages to Veracel. Ita&#250; Seguros S.A. (&#8220;Ita&#250;&#8221;),
Veracel&#8217;s insurer at the time of the Veracel accident and then replaced by Chubb Seguros Brasil S/A (&#8220;Chubb&#8221;),
initiated a lawsuit against Confab seeking reimbursement of damages paid to Veracel in connection with the Veracel accident. Veracel
initiated a second lawsuit against Confab seeking reimbursement of the amount paid as insurance deductible with respect to the
Veracel accident and other amounts not covered by insurance. Ita&#250; and Veracel claimed that the Veracel accident was caused
by failures and defects attributable to the evaporation system manufactured by Confab. Confab believes that the Veracel accident
was caused by the improper handling by Veracel&#8217;s personnel of the equipment supplied by Confab in violation of Confab&#8217;s
instructions. The two lawsuits were consolidated and are considered by the 6th Civil Court of S&#227;o Caetano do Sul; however,
each lawsuit will be adjudicated separately.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 77 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 28, 2018 Confab and Chubb, entered into a settlement
agreement pursuant to which on October 9, 2018, Confab paid an amount of approximately $3.5 million to Chubb, without assuming
any liability for the accident or the claim.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On October 10, 2018, Confab was notified that the court had
issued rulings for both lawsuits. Both decisions were unfavorable to Confab:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td>With respect to Chubb&#8217;s claim, Confab was ordered to pay an amount of approximately BRL89.8 million (approximately $21.6
million) (including interest, fees and expenses). On October 15, 2018, Confab filed a request for homologation of the settlement
agreement mentioned above, as such settlement agreement remains valid and binding between the parties. On November 8, 2018, the
settlement agreement was homologated by the court.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td>With respect to Veracel&#8217;s claim, Confab was ordered to pay the insurance deductible and other concepts not covered by
insurance, currently estimated to amount to BRL62.9 million (approximately $15.6 million) (including interest, fees and expenses).
Both parties filed motions for clarification against the court&#8217;s decision, which were partially granted. Although the contract
between Confab and Veracel expressly provided that Confab would not be liable for damages arising from lost profits, the court
award would appear to include BRL54.0 million (approximately $13.4 million) of damages arising therefrom; Confab has additional
defense arguments in respect of a claim for lost profits. On December 18, 2018, Confab filed an appeal against the first instance
court decision, and on April 30, 2019, Veracel filed its response to the appeal. At this stage the Company cannot predict the outcome
of the claim or the amount or range of loss in case of an unfavorable outcome.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Ongoing investigation</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is aware that Brazilian, Italian and Swiss authorities
have been investigating whether certain payments were made from accounts of entities presumably associated with affiliates of the
Company to accounts allegedly linked to individuals related to Petrobras and whether any such payments were intended to benefit
the Company&#8217;s Brazilian subsidiary Confab. Any such payments could violate certain applicable laws, including the U.S. Foreign
Corrupt Practices Act.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company had previously reviewed certain of these matters
in connection with an investigation by the Brazilian authorities related to &#8220;Operation Lava Jato&#8221;, a new phase of which
is presently ongoing, and did not uncover any information that corroborated allegations of involvement in these alleged payments
by the Company or its subsidiaries. Furthermore, the Company became aware that a Petrobras internal investigation commission reviewed
certain contracts with Confab and concluded that they had not found evidence that Petrobras had benefitted Confab or had misused
applicable local content rules.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&#8217;s audit committee engaged external counsel
in connection with the Company&#8217;s review of these matters. In addition, the Company voluntarily notified the U.S. Securities
and Exchange Commission and the U.S. Department of Justice in October 2016.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In July 2019, the Company learned that the public
prosecutor office of Milan, Italy, had completed a preliminary investigation into the alleged payments and had included in
the investigation, among other persons, the Company&#8217;s Chairman and Chief Executive Officer, two other board members,
Gianfelice Mario Rocca and Roberto Bonatti, and the Company&#8217;s controlling shareholder, San Faustin. In February 2020,
the Company learned that the magistrate overseeing the investigation decided to move the case to trial. The Company&#8217;s
outside counsel had previously reviewed the Italian prosecutors&#8217; investigative file and has informed the board of
directors that neither that file nor this magistrate&#8217;s decision sets forth evidence of involvement by any of the three
directors in the alleged wrongdoing. Accordingly, the board of directors has concluded that no particular action is
warranted at the present time, other than inviting the referred board members to continue discharging their respective
responsibilities with the full support of the board of directors.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company continues to review these matters and to respond
to requests from and otherwise cooperate with the appropriate authorities. At this time, the Company cannot predict the outcome
of these matters or estimate the range of potential loss or extent of risk, if any, to the Company's business that may result from
resolution of these matters.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 78 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Putative class actions</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following the Company&#8217;s November 27, 2018 announcement
that its Chairman and chief executive officer Paolo Rocca had been included in an Argentine court investigation known as the Notebooks
Case (a decision subsequently reversed by a higher court), two putative class action complaints were filed in the U.S. District
Court for the Eastern District of New York. On April 29, 2019, the court consolidated the complaints into a single case, captioned
&#8220;In re Tenaris S.A. Securities Litigation&#8221;, and appointed lead plaintiffs and lead counsel. On July 19, 2019, the lead
plaintiffs filed an amended complaint purportedly on behalf of purchasers of Tenaris securities during the putative class period
of May 1, 2014 through December 5, 2018. The individual defendants named in the complaint are Tenaris&#8217;s Chairman and chief
executive officer and Tenaris&#8217;s former chief financial officer. The complaint alleges that during the class period, the Company
and the individual defendants inflated the Tenaris share price by failing to disclose that sale proceeds received by Ternium (in
which Tenaris held an 11.46% stake) when Sidor was expropriated by Venezuela were received or expedited as a result of allegedly
improper payments made to Argentine officials. The complaint does not specify the damages that plaintiff is seeking. Defendants&#8217;
motions to dismiss are expected to be decided during 2020. Management believes the Company has meritorious defenses to these claims;
however, at this stage the Company cannot predict the outcome of the claim or the amount or range of loss in case of an unfavorable
outcome.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Investigation concerning alleged price overcharges in
Brazil</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In 2018, two Brazilian subsidiaries of the Company were notified
of formal charges arising from a review by the Tribunal de Contas da Uniao (&#8220;TCU&#8221;) for alleged price overcharges on
goods supplied to Petrobras under a supply contract. Both companies have already filed their defenses. The estimated amount of
this claim is BRL29.8 million (approximately $7.4 million). Tenaris believes, based on the advice of counsel and external consultants,
that the prices charged under the Petrobras contract do not result in overprices and that it is unlikely that the ultimate resolution
of this matter will result in a material obligation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Administrative proceeding concerning Brazilian tax credits</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Confab is a party to an administrative proceeding concerning
the recognition and transfer of tax credits for an amount allegedly exceeding the amount that Confab would have been entitled to
recognize and/or transfer. The proceeding resulted in the imposition of a fine against Confab representing approximately 75% of
the allegedly undue credits, which was appealed by Confab. On January 21, 2019, Confab was notified of an administrative decision
denying Confab&#8217;s appeal, thereby upholding the tax determination and the fine against Confab. On January 28, 2019, Confab
challenged such administrative decision and is currently awaiting a resolution. In case of an unfavorable resolution, Confab may
still appeal before the courts. The estimated amount of this claim is BRL56.8 million (approximately $14.1 million). At this stage,
the Company cannot predict the outcome of this claim.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>U.S. patent infringement litigation</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris Coiled Tubes, LLC (&#8220;TCT&#8221;), a U.S. subsidiary
of the Company, was sued on 2017 by its competitor Global Tubing, alleging violations to certain intellectual property regulations
and seeking a declaration that certain Global Tubing products do not infringe patents held by TCT. TCT filed a counterclaim seeking
declaration that certain Global Tubing products infringe patents held by TCT, and Global Tubing responded alleging that such patents
should be invalidated. On December 13, 2019, Global Tubing filed an amended complaint (including the Company as defendant) and
alleging that TCT and the Company misled the patent office in order to monopolize the coiled tubing market for quench and tempered
products. Trial is set for August of 2021. At this time, the Company cannot predict the outcome of this matter or estimate the
range of potential losses that may result from resolution of this claim.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Tax assessment from Italian tax authorities</I></B></P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris&#8217;s Italian subsidiary Dalmine received on December
27, 2019, a tax assessment from the Italian tax authorities related to fiscal year 2014. As of December 31, 2019, the claim amounted
to approximately EUR25 million (approximately $28 million), comprising EUR20.7 million (approximately $23.2 million) in principal
and EUR4.3 million (approximately $4.8 million) in interest and penalties. In the report for a tax audit conducted in 2019, the
Italian tax inspectors indicated that they also intend to bring claims for fiscal year 2015 with respect to the same matters; as
of December 31, 2019, these additional claims would amount to approximately EUR10.3 million (approximately $11.6 million), comprising
EUR8.1 million (approximately $9.1 million) in principal and EUR2.2 million (approximately $2.5 million) in interest and penalties.
The claims mainly refer to the compensation for certain intercompany transactions involving Dalmine in connection with sales of
products and R&amp;D activities. Based on the counsel&#8217;s advice, Tenaris believes that it is unlikely that the ultimate resolution
of these matters will result in a material obligation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 79 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>IPSCO product liability claims</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris&#8217;s recently acquired U.S. subsidiary, IPSCO Tubulars
Inc, or its subsidiaries are parties to several product liability claims, which may result in damages for an aggregate amount estimated
at approximately $26.6 million. This includes a lawsuit alleging product liability and negligent misrepresentation in which the
plaintiff alleges that defects in certain casing provided by IPSCO resulted in three well failures causing damages for an amount
of approximately $15 million. Although at this time the Company cannot predict the outcome of any of these matters, the Company
believes that provisions have been recorded in an amount sufficient to cover potential exposure under these claims.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Dividend Policy</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company does not have, and has no current plans to establish,
a formal dividend policy governing the amount and payment of dividends or other distributions. For a description of the shareholders&#8217;
and holders of ADS&#8217; rights to receive dividends and the conditions to declare and pay dividends, please refer to Item 10.
&#8220;Additional Information &#8211; B. Memorandum and Articles of Association &#8211; Dividends&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table shows the dividends approved by the Company&#8217;s
shareholders in the last five years:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Approved dividend</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dividend payment date</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold">Shareholders&#8217; meeting date</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount <br>
(USD&nbsp;million)</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Per&nbsp;share <br>
(USD)</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Per&nbsp;ADS (USD)</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Interim&nbsp;Dividend</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dividend Balance</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 27%; text-indent: 9pt">May 6, 2015</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">531</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">0.45</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 9%; text-align: right">0.90</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 16%; text-align: center">November 2014</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 14%; text-align: center">May 2015</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: 9pt">May 4, 2016</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">531</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.45</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.90</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: center">November 2015</td><td>&nbsp;</td>
    <td style="text-align: center">May 2016</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: 9pt">May 3, 2017</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">484</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.82</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: center">November 2016</td><td>&nbsp;</td>
    <td style="text-align: center">May 2017</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: 9pt">May 2, 2018</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">484</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.82</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: center">November 2017</td><td>&nbsp;</td>
    <td style="text-align: center">May 2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: 9pt">May 6, 2019</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">484</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.41</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.82</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: center">November 2018</td><td>&nbsp;</td>
    <td style="text-align: center">May 2019</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On April 29, 2020 the board of directors announced the proposals to be submitted to the consideration
of the Annual General Shareholders&rsquo; meeting, including its proposal on dividends. For more information, see &ldquo;Item 5G.
Operating and Financial Review and Prospects &ndash;Recent Developments &ndash; Annual Dividend Proposal&rdquo;.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 28.35pt; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Significant Changes</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as otherwise disclosed in this annual report, there has
been no undisclosed significant change since the date of the annual consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 1in"><b><a name="a_011"></a>Item&nbsp;9.</b></td><td><b>The Offer and Listing</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 28.35pt"><b>A.</b></td><td><b>Offer and Listing Details</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The shares are listed on the Mexican Stock Exchange and its
ADSs are listed on the NYSE under the symbol &#8220;TS&#8221;. Until October 11, 2019, the Company&#8217;s shares were also listed
on the Buenos Aires Stock Exchange. The shares are also listed on the Italian Stock Exchange under the symbol &#8220;TEN&#8221;
Trading on the NYSE and the Mexican Stock Exchange began on December&nbsp;16, 2002, and trading on the Italian Stock Exchange began
on December&nbsp;17, 2002.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March&nbsp;31, 2020, a total of 1,180,536,830 shares were
registered in the Company&#8217;s shareholder register. As of March&nbsp;31, 2020, a total of 156,288,900 shares were registered
in the name of the depositary for the Company&#8217;s ADR program.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 28.35pt; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Plan of Distribution</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>C.</b></td><td><b>Markets</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See A. &#8220;&#8211; The Offer and Listing &#8211; Offer and
Listing Details&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>D.</b></td><td><b>Selling Shareholders</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>E.</b></td><td><b>Dilution</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 80 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>F.</b></td><td><b>Expenses of the Issue</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_012"></a>Item&nbsp;10.</b></td><td><b>Additional Information</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>A.</b></td><td><b>Share Capital</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>B.</b></td><td><b>Memorandum and Articles of Association</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>General</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following is a summary of certain rights of holders of the
Company&#8217;s shares. These rights are set out in the Company&#8217;s articles of association or are provided by applicable Luxembourg
law, and may differ from those typically provided to shareholders of U.S. companies under the corporation laws of some states of
the United States. This summary is not exhaustive and does not contain all information that may be important to you. For more complete
information, you should read the Company&#8217;s articles of association, which are attached as an exhibit to this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is a public limited liability company (<i>soci&#233;t&#233;
anonyme</i>) organized under the laws of Luxembourg. Its object and purpose, as set forth in Article 2 of its articles of association,
is the taking of interests, in any form, in corporations or other business entities, and the administration, management, control
and development thereof. The Company is registered under the number B85 203 in the Luxembourg <i>Registre de Commerce et des Soci&#233;t&#233;s</i>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&#8217;s authorized share capital is fixed by the
Company&#8217;s articles of association as amended from time to time with the approval of shareholders at an extraordinary general
shareholders&#8217; meeting. The Company has an authorized share capital of a single class of 2,500,000,000 shares having a nominal
value of USD1.00 per share. There were 1,180,536,830 shares issued as of the date of this annual report. All issued shares are
fully paid.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Company&#8217;s articles of association
authorize the board of directors, or any delegate(s) duly appointed by the board of directors, to issue shares within the limits
of the authorized share capital against contributions in cash, contributions in kind or by way of available reserves, at such time
and on such terms and conditions, including the issue price, as the board of directors, or its delegate(s), may in its or their
discretion resolve.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Company&#8217;s shareholders have authorized
the board of directors to waive, suppress or limit any pre-emptive subscription rights of shareholders provided for by law to
the extent it deems such waiver, suppression or limitation advisable for any issue or issues of shares within the authorized share
capital; and have waived any pre-emptive subscription rights provided for by law and related procedures. Although the validity
period of such authorization will expire on June 5, 2020, the board of directors has convened an extraordinary meeting of shareholders
to be held <FONT STYLE="background-color: White">on June 2, 2020, which</FONT> will consider the renewal of such authorization
for an additional five-year period. However, under the Company&#8217;s articles of association, the Company&#8217;s existing shareholders
shall have a preferential right to subscribe for any new shares issued pursuant to the authorization granted to its board of directors,
except in the following cases (in which cases no pre-emptive subscription rights shall apply):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol; font-size: 10pt">&#183;</font></td><td style="text-align: left">any issuance of shares (including, without limitation, the direct issuance of shares or upon the exercise
of options, rights convertible into shares, or similar instruments convertible or exchangeable into shares) against a contribution
other than in cash; and</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>any issuance of shares (including by way of free shares or at discount), up to an amount equal to 1.5% of the issued share
capital of the Company, to directors, officers, agents or employees of the Company, its direct or indirect subsidiaries, or its
affiliates, including, without limitation, the direct issuance of shares or upon the exercise of options, rights convertible into
shares, or similar instruments convertible or exchangeable into shares, issued for the purpose of compensation or incentive for
any such persons or in relation thereto (which the board of directors shall be authorized to issue upon such terms and conditions
as it deems fit).</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Amendment of the Company&#8217;s articles of association requires
the approval of shareholders at an extraordinary shareholders&#8217; meeting with a two-thirds majority vote of the shares represented
at the meeting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 81 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Dividends</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to applicable law, all shares (including shares underlying
ADSs) are entitled to participate equally in dividends when, as and if declared by the shareholders at the annual general shareholders&#8217;
meeting, out of funds legally available for such purposes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dividends may be lawfully declared and paid if the Company&rsquo;s net profits and distributable
reserves are sufficient under Luxembourg law. The amount and payment of dividends must be approved by a majority vote at a general
shareholders&rsquo; meeting, generally, but not necessarily, based on the recommendation of the Company&rsquo;s board of directors.
Under Article 21 of the Company&rsquo;s articles of association, the board of directors has the power to distribute interim dividends
out of profits, share premium or any other available reserves, in accordance with applicable law, in particular in accordance with
the conditions set forth in Article 461-3 of the Luxembourg Company Law. Such dividend payments must be finally approved by the
general shareholders&rsquo; meeting. On April 29, 2020 the board of directors announced the proposals to be submitted to the consideration
of the Annual General Shareholders&rsquo; meeting, including its proposal on dividends. For more information, see &ldquo;Item 5G.
Operating and Financial Review and Prospects &ndash;Recent Developments &ndash; Annual Dividend Proposal&rdquo;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As provided by Article 21 of the Company&#8217;s articles of
association, dividends or other distributions declared by the general meeting as well as interim dividends or other distributions
declared by the board of directors will be distributed at the times and places determined by the board of directors. The Company
will make any and all dividend payments and any other distributions in respect of shares registered in the name of any securities
settlement system or operator of such a system or in the name of any financial institution or other professional depositary of
securities or any other depositary, whether in cash, shares or other assets, only to such registered holder, or otherwise in accordance
with such registered holder&#8217;s instructions, and, as provided by Article 21 of the Company&#8217;s articles of association,
that payment shall release the Company from any and all obligations for such payment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company conducts and will continue to conduct its operations
through subsidiaries and, accordingly, its main source of cash to pay dividends, among other possible sources, will be the dividends
received from its subsidiaries. For further information see Item 3.D. &#8220;Key Information &#8211; Risk Factors &#8211; Risks
Relating to the Structure of the Company &#8211; As a holding company, the Company&#8217;s ability to pay cash dividends depends
on the results of operations and financial condition of its subsidiaries and could be restricted by legal, contractual or other
limitations&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Luxembourg law, claims for dividends will lapse in favor
of the Company five years after the date such dividends are declared. However, the Company may elect to pay a declared dividend
after such period. Declared and unpaid dividends held by the Company for the account of its shareholders do not bear interest.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to Luxembourg law, at least 5% of our net profits per
year must be allocated to the creation of a legal reserve until such reserve has reached an amount equal to 10% of our issued share
capital. If the legal reserve later falls below the 10% threshold, at least 5% (or such lower amount required to reach the 10%
threshold) of net profits again must be allocated toward the reserve. As of December 31, 2019, the Company&#8217;s legal reserve
represented 10% of its share capital. The legal reserve is not available for distribution.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Voting Rights; Shareholders&#8217; Meetings; Election of
Directors</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Each share entitles the holder thereof to
one vote at the Company&#8217;s general shareholders&#8217; meetings. Shareholder action by written consent is not permitted, but
proxy voting is permitted. Notices of general shareholders&#8217; meetings are governed by the provisions of Luxembourg law and
the Company&#8217;s articles of association. Pursuant to applicable Luxembourg law, the Company must give notice of the calling
of any general shareholders&#8217; meeting at least 30 days prior to the date for which the meeting is being called, by publishing
the relevant convening notice in the <i>Recueil Electronique des Soci&#233;t&#233;s et Associations</i> (Luxembourg&#8217;s
electronic official gazette) and in a leading newspaper having general circulation in Luxembourg and by issuing a press release
informing of the calling of such meeting. In case the Company&#8217;s shares are listed on a foreign regulated market, notices
of general shareholders&#8217; meetings shall also comply with the requirements (including as to content and publicity) and follow
the customary practices of such regulated market.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Pursuant to the Company&#8217;s articles of
association, for as long as the shares or other securities of the Company are listed on a regulated market within the European
Union (as they currently are), and unless otherwise provided by applicable law, only shareholders holding shares as of midnight,
central European time, on the day that is fourteen days prior to the day of any given general shareholders&#8217; meeting can attend
and vote at such meeting. The board of directors may determine other conditions that must be satisfied by shareholders in order
to participate in a general shareholders&#8217; meeting in person or by proxy, including with respect to deadlines for submitting
supporting documentation to or for the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<!-- Field: Page; Sequence: 82 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->82<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">No attendance quorum is required at ordinary
general shareholders&#8217; meetings, and resolutions may be adopted by a simple majority of the votes validly cast, irrespective
of the number of shares present or represented. Unless otherwise provided by applicable law, an extraordinary general shareholders&#8217;
meeting may not validly deliberate on proposed amendments to the Company&#8217;s articles of association unless a quorum of at
least half of the share capital is represented at the meeting. If a quorum is not reached at the first extraordinary shareholders&#8217;
meeting, a second extraordinary shareholders&#8217; meeting may be convened in accordance with the Company&#8217;s articles of
association and applicable law and such second extraordinary general shareholders&#8217; meeting shall validly deliberate regardless
of the number of shares represented. In both cases, the Luxembourg Company Law and the Company&#8217;s articles of association
require that any resolution of an extraordinary general shareholders&#8217; meeting as to amendments to the Company&#8217;s articles
of association be adopted by a two-thirds majority of the votes validly cast at the meeting. If a proposed resolution consists
of changing the Company&#8217;s nationality or of increasing the shareholders&#8217; commitments, the unanimous consent of all
shareholders is required.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Cumulative voting is not permitted. The Company&#8217;s
articles of association do not provide for staggered terms and directors are elected for a maximum of one year but may be reappointed
or removed at any time, with or without cause, by the general shareholders&#8217; meeting, by resolution passed by a simple majority
vote of the shares validly cast at the meeting. In the case of a vacancy occurring in the board of directors, the remaining directors
shall have the right to temporarily fill such vacancy with a temporary director appointed by resolution adopted with the affirmative
vote of a majority of the remaining directors; provided that the next general shareholder&#8217;s meeting shall be called upon
to ratify such appointment. The term of any such temporary director elected to fill a vacancy shall expire at the end of the term
of office of the replaced director.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The next Company&#8217;s annual general shareholders&#8217;
meeting, that will consider, among other things our Consolidated Financial Statements and Annual Accounts included in this report,
will take place in the Company&#8217;s registered office in Luxembourg, on Tuesday, June 2, 2020, at 3:00 P.M. Central European
time, Luxembourg time. A general extraordinary shareholders&#8217; meeting will be held on the same date, immediately after the
adjournment of the annual general shareholders&#8217; meeting, to decide on the renewal for a five-year period of the authorization
granted to its board of directors to issue shares within the limits of the authorized share capital without shareholder approval.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The articles of association provide that annual general shareholders&#8217;
meetings shall meet in Luxembourg within six months from the end of the previous financial year at the date, place and hour indicated
in the convening notice. The rights of the shareholders attending the meetings are governed by Shareholders&#8217; Rights Law.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Holders of shares deposited in fungible securities accounts
have the same rights and obligations as holders of shares recorded in the Company&#8217;s share register. However, in order to
be able to participate in and vote at shareholders&#8217; meetings of the Company, the former must submit, prior to the relevant
meeting, reasonably satisfactory evidence to the Company as to the number of shares held on the applicable record date for such
meeting. For as long as the shares or the other securities of the Company are listed on a regulated market within the European
Union, participation in a shareholders&#8217; general meeting shall inter alia be subject to the relevant shareholder holding shares
of the Company on the fourteenth day midnight central European time prior to the meeting (unless otherwise provided for by applicable
law).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Holders of ADSs only have those rights that are expressly granted
to them in the deposit agreement. See Item&nbsp;3.D. &#8220;Key Information &#8211; Risk Factors &#8211; Risks Relating to shares
and ADSs &#8211; Holders of ADSs may not be able to exercise, or may encounter difficulties in the exercise of, certain rights
afforded to shareholders&#8221;. Holders of record of our ADRs as of the relevant ADR holders&#8217; record date set for any given
general shareholders&#8217; meeting are entitled to instruct the Depositary as to the exercise of the voting rights in respect
of the shares underlying such holder&#8217;s ADRs at such meeting. Holders of ADRs maintaining non-certificated positions must
follow voting instructions given by their broker or custodian bank.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The notice to the annual general shareholders meeting and to
the general extraordinary shareholders meeting to be held on June 2, 2020, and the Shareholder Meeting Brochure and Proxy Statement
for the meetings, describing the procedures for voting at the meetings applicable to holders of ADRs will be made available on
the Company&#8217;s website at www.tenaris.com/investors in accordance with applicable rules and regulations, and&nbsp;will be
timely filed by the Company in a report of foreign issuer on Form 6-K.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Access to Corporate Records</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Luxembourg law and the Company&#8217;s articles of association
do not generally provide for shareholder access to corporate records. Shareholders may inspect the annual accounts and auditors&#8217;
reports at our registered office during the fifteen-day period prior to a general shareholders&#8217; meeting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 83 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Appraisal Rights</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event the Company&#8217;s shareholders approve:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>the delisting of the shares from all stock exchanges where the shares are listed at that time,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a merger in which the Company is not the surviving entity (unless the shares or other equity securities of such entity are
listed on the New York or London stock exchanges),</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a sale, lease, exchange or other disposition of all or substantially all of the Company&#8217;s assets,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>an amendment of our articles of association that has the effect of materially changing the Company&#8217;s corporate purpose,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>the relocation of the Company&#8217;s domicile outside of the Grand Duchy of Luxembourg, <i>or</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>amendments to the Company&#8217;s articles of association that restrict the rights of the Company&#8217;s shareholders.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dissenting or absent shareholders have the right to have their
shares repurchased by the Company at (i)&nbsp;the average market value of the shares over the 90 calendar days preceding the applicable
shareholders&#8217; meeting or (ii)&nbsp;in the event that the shares are not traded on a regulated market, the amount that results
from applying the proportion of the Company&#8217;s equity that the shares being sold represent over the Company&#8217;s net worth
as of the date of the applicable shareholders&#8217; meeting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dissenting or absent shareholders must present their claim within
one month following the date of the shareholders&#8217; meeting and supply the Company with evidence of their shareholding at the
time of such meeting. The Company must (to the extent permitted by applicable laws and regulations and in compliance therewith)
repurchase its shares within six months following the date of the shareholders&#8217; meeting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If delisting from one or more, but not all, of the stock exchanges
where the shares are listed is approved in the shareholders&#8217; meeting, only dissenting or absent shareholders with shares
held through participants in the local clearing system for that market or markets can exercise this appraisal right if:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>they held the shares as of the date of the announcement by the Company of its intention to delist or as of the date of publication
of the first convening notice for the general shareholders&#8217; meeting that approved the delisting; and</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>they present their claim within one month following the date of the general shareholders&#8217; meeting and supply evidence
of their shareholding as of the date of the Company&#8217;s announcement or the publication of the first convening notice to the
meeting.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event a shareholder exercises its appraisal rights, applicable
Luxembourg law provisions shall apply.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Holders of ADSs may not be able to exercise, or may encounter
difficulties in the exercise of, certain rights afforded to shareholders, including appraisal rights. See Item&nbsp;3.D. &#8220;Key
Information &#8211; Risk Factors &#8211; Risks Relating to shares and ADSs &#8211; Holders of ADSs may not be able to exercise,
or may encounter difficulties in the exercise of, certain rights afforded to shareholders&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Distribution of Assets on Winding-Up</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of the Company&#8217;s liquidation, dissolution
or winding-up, the net assets remaining after allowing for the payment of all debts and expenses will be paid out to the holders
of the shares in proportion to their respective holdings.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Transferability and Form</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&#8217;s articles of association do not contain any
redemption or sinking fund provisions, nor do they impose any restrictions on the transfer of shares. The shares are issuable in
registered form only.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The ownership of registered shares is evidenced by the inscription
of the name of the shareholder, the number of shares held by such shareholders and the amount paid on each share in the Company&#8217;s
share register. In addition, the Company&#8217;s shares may be held through fungible securities accounts with financial institutions
or other professional depositaries.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 84 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->84<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shares held through fungible securities accounts may be transferred
in accordance with customary procedures for the transfer of securities in book-entry form. Shares that are not held through fungible
securities accounts may be transferred by a written statement of transfer signed by both the transferor and the transferee or their
respective duly appointed attorney-in-fact and recorded in the Company&#8217;s share register. The transfer of shares may also
be made in accordance with the provisions of Article 1690 of the Luxembourg Civil Code. As evidence of the transfer of registered
shares, the Company may also accept any correspondence or other documents evidencing the agreement between transferor and transferee
as to the transfer of registered shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Repurchase of Company shares</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company may repurchase its own shares in the cases and subject
to the conditions set by the Luxembourg Company Law and, in the case of acquisitions of shares or ADSs made through a stock exchange
in which shares or ADSs are traded, with any applicable laws and regulations of such market. Please see Item&nbsp;16.E. &#8220;Purchase
of Equity Securities by the Issuer and Affiliated Purchasers&#8221; for further information on the authorization granted on May
6, 2015, by the annual general meeting of shareholders to the Company or its subsidiaries to repurchase shares of the Company,
including shares represented by ADSs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Limitation on Securities Ownership</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There are no limitations currently imposed by Luxembourg law
or the articles of association on the rights of the Company&#8217;s non-resident or foreign shareholders to hold or vote the Company&#8217;s
shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Change in Control</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None of our outstanding securities has any special control rights.
The Company&#8217;s articles of association do not contain any provision that would have the effect of delaying, deferring or preventing
a change in control of the Company and that would operate only with respect to a merger, acquisition or corporate restructuring
involving the Company or any of its subsidiaries. In addition, the Company does not know of any significant agreements or other
arrangements to which the Company is a party and which take effect, alter or terminate in the event of a change of control of the
Company. There are no agreements between the Company and members of its board of directors or employees providing for compensation
if they resign or are made redundant without reason, or if their employment ceases following a change in control of the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There are no rights associated with the Company&#8217;s shares
other than those described above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Ownership Disclosure</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&#8217;s articles of association do not contain any
provision requiring disclosure of share ownership. However, under the Luxembourg Transparency Law investors in the Company&#8217;s
securities should notify the Company and the Luxembourg securities commission on an ongoing basis whenever the proportion of voting
rights held or controlled by any such investor reaches, exceeds or falls below any of the following thresholds: 5%, 10%, 15%, 20%,
25%, 33.33%, 50% and 66.66%. Failure to notify the Company and the Luxembourg securities commission of the reaching or crossing
of any such thresholds may result in the suspension of the voting rights attaching to the shares exceeding the threshold which
would have had to be notified.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>C.</b></td><td><b>Material Contracts</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For a summary of any material contract entered into by us outside
the ordinary course of business during the last two years, see Item&nbsp;4.B. &#8220;Information on the Company &#8211; Business
Overview&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>D.</b></td><td><b>Exchange Controls</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Many of the countries which are important markets for us or
in which we have substantial assets have histories of substantial government intervention in currency markets, volatile exchange
rates and government-imposed currency controls. These include mainly Argentina, Brazil, Indonesia, Mexico, Nigeria and Romania.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Specifically and regarding Argentina, the Argentine peso was
subject to a devaluation of approximately 59% during 2019. In addition, starting September 1, 2019, the government imposed certain
restrictions on foreign exchange transactions, including the obligation to sell into the Argentine foreign exchange market any
proceeds derived from exports of goods within a period of 60 days from export to related parties, and within 180 days from export
to third parties. As for service-related exports, foreign currency proceeds must be converted into Argentine pesos within 5 days
of collection. Other restrictions related to foreign exchange transactions include the obligation to obtain previous authorization
from the Argentine Central Bank to access the foreign exchange market to make payments of imports of services from related parties
(including royalties). Central Bank&#8217;s authorizations are granted on a very restricted basis. There are currently no restrictions
to make payments for goods imports.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 85 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As for capital flows, there are no restrictions for payments
of debt-service to foreign creditors as long as funds disbursed had been previously transferred to Argentina through the foreign
exchange market and converted into Argentine pesos. As from January 17, 2020, investors making new capital contributions to local
companies do not require Central Bank approval to access the foreign exchange market to pay dividends for an amount not exceeding
30% of the investment. Access to the foreign exchange market to make any other dividend payment requires prior authorization from
the Central Bank. Central Bank&#8217;s authorizations are granted on a very restricted basis.</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Purchase and/or transfer of foreign currency for investment
and saving purposes is limited to minimal monthly sums. In addition, such purchases as well as credit card payments abroad are
subject to a 30% surcharge.</p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of December 31, 2019 approximately 8% of Tenaris&#8217;s
consolidated net assets were located in Argentina.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For additional information regarding factors affecting the Argentine
economy, see Item 3.D. &#8220;Key Information &#8211; Risk Factors &#8211; Risks Relating to our Business &#8211; Adverse economic
or political conditions in the countries where we operate or sell our products and services may decrease our sales or disrupt our
manufacturing operations, thereby adversely affecting our revenues, profitability and financial condition&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>E.</b></td><td><b>Taxation </b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following discussion of the material Luxembourg and U.S.
federal income tax consequences of an investment in our shares and ADSs is based upon laws and relevant interpretations thereof
in effect as of the date of this annual report, all of which are subject to change. This discussion does not address all possible
tax consequences relating to an investment in our shares or ADSs, including the tax consequences under U.S. state and local tax
laws.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Grand Duchy of Luxembourg </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This section describes the material Luxembourg tax consequences
of owning or disposing of shares or ADSs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>It is not intended to be, nor should it be construed to be,
legal or tax advice. You should, therefore, consult your own tax advisor regarding local or foreign tax consequences, including
Luxembourg tax consequences of owning and disposing of shares or ADSs in your particular circumstances. </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>As used herein, a &#8220;Luxembourg individual&#8221; means
an individual resident in Luxembourg who is subject to personal income tax (imp&#244;t sur le revenu) on his or her worldwide
income from Luxembourg or foreign sources, and a &#8220;Luxembourg corporate holder&#8221; means a company (that is, a fully taxable
collectivit&#233; within the meaning of Article 159 of the Luxembourg Income Tax Law) resident in Luxembourg subject to Luxembourg
corporate income tax (imp&#244;t sur le revenu des collectivit&#233;s) and Luxembourg municipal business tax (imp&#244;t commercial
communal) on its worldwide income from Luxembourg or foreign sources. For the purposes of this summary, Luxembourg individuals
and Luxembourg corporate holders are collectively referred to as &#8220;Luxembourg Holders&#8221;. A &#8220;non-Luxembourg Holder&#8221;
means any investor in shares or ADSs of the Company other than a Luxembourg Holder. </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Corporate Reorganization </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company was established as a Luxembourg <i>soci&#233;t&#233;
anonyme</i> holding under Luxembourg&#8217;s 1929 holding company regime. Until termination of such regime on December&nbsp;31,
2010, holding companies incorporated under the 1929 regime (including the Company) were exempt from Luxembourg corporate income
tax, Luxembourg municipal business tax, Luxembourg net wealth tax and Luxembourg withholding tax over dividends distributed to
shareholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January&nbsp;1, 2011, the Company became an ordinary public
limited liability company (<i>soci&#233;t&#233; anonyme</i>) and, effective as from that date, the Company is subject to all
applicable Luxembourg taxes, (including, among others, Luxembourg corporate income tax on its worldwide income).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In light of the impending termination of Luxembourg&#8217;s
1929 holding company regime, in the fourth quarter of 2010, the Company carried out a multi-step corporate reorganization, which
included, among other transactions, the contribution of most of the Company&#8217;s assets and liabilities to a wholly-owned, newly-incorporated
Luxembourg subsidiary and the restructuring of indirect holdings in certain subsidiaries. The first phase of the corporate reorganization
was completed in December 2010, and resulted in a non-taxable revaluation of the accounting value (under Luxembourg GAAP) of the
Company&#8217;s assets. The second phase of the reorganization was completed in 2011.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 86 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following the completion of the first phase of the corporate
reorganization, and upon its conversion into an ordinary Luxembourg holding company, the Company recorded a special reserve in
its tax balance sheet. Dividend distributions for the foreseeable future will be charged to the special reserve and therefore should
not be subject to Luxembourg withholding tax.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Tax regime applicable to realized capital gains </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Luxembourg Holders </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Luxembourg resident individual holders </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capital gains realized by Luxembourg resident individuals who
do not hold their shares or ADSs as part of a trade or business (i.e. capital gains on private assets) and who hold (together,
directly or indirectly, with his or her spouse or civil partner and underage children) no more than 10% of the share capital of
the Company, at any time during the five-year period preceding the disposition will only be taxable (at a progressive rate) if
they are realized on a sale of shares or ADSs that takes place before their acquisition or within the first six months following
their acquisition (i.e. speculative gain). After the six-months period, capital gains are not taxed unless the resident individual
holds (together, directly or indirectly, with his or her spouse or civil partner and underage children) more than 10% of the share
capital of the Company at any time during the five-year period preceding the disposition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If such shares or ADSs are held as part of a commercial or industrial
business, capital gains would be taxable in the same manner as income from such business.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capital gains realized by Luxembourg resident individuals holding
(alone or together with the resident&#8217;s spouse or civil partner and underage children) directly or indirectly more than 10%
of the capital of the Company at any time during the five years prior to the sale, (or if the Luxembourg resident individuals have
received the shares for no consideration within the last five years and the former holder held at least 10% in the capital of the
company at any moment during said five years) will be taxable at half of the individual&#8217;s applicable global tax rate (as
determined progressively), if a holding period of six months following their acquisition elapsed (21% for 2019). Within the six-month period, progressive income tax rates apply (ranging from 0 to 42%<font style="font-family: Times New Roman, Times, Serif"><sup>1</sup></font>
in 2019).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Luxembourg resident corporate holders </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capital gains, including currency exchange gains, realized upon
the disposal of shares or ADSs by a fully taxable resident corporate holder will in principle be subject to Luxembourg corporate
income tax and Luxembourg municipal business tax. The combined applicable rate (including an unemployment fund contribution) for
a corporate holder established in Luxembourg-City is 24.94% for the fiscal year ending 2019. An exemption from such taxes may be
available to the Luxembourg resident corporate holder pursuant to Article 1 of the Grand Ducal Decree dated December 21, 2001 as
amended, in combination with article 166 of the Luxembourg Income Tax Law subject to the fulfillment of the conditions set forth
therein.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Non-Luxembourg Holders </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Non-Luxembourg individual holders</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An individual who is a non-Luxembourg Holder of shares or ADSs
(and who does not have a permanent establishment, a permanent representative or a fixed place of business in Luxembourg) will only
be subject to Luxembourg taxation on capital gains arising upon disposal of such shares or ADSs if such holder has (alone or together
with his or her spouse, civil partner and underage children) directly or indirectly held more than 10% of the capital of the Company
at any time during the past five years preceding the disposal, and either (i)&nbsp;such non-Luxembourg Holder has been a resident
of Luxembourg for tax purposes for at least 15 years and has become a non-resident within the last five years preceding the realization
of the gain, subject to any applicable tax treaty, or (ii)&nbsp;the disposal of shares or ADSs occurs within six months from their
acquisition (or prior to their actual acquisition), subject, however, to any applicable tax treaty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Non-Luxembourg corporate holders</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A corporate non-Luxembourg Holder (that is, a <i>collectivit&#233;</i>
within the meaning of Article 159 of the Luxembourg Income Tax Law), which has a permanent establishment, a permanent representative
or a fixed place of business in Luxembourg to which shares or ADSs are attributable, will bear Luxembourg corporate income tax
and Luxembourg municipal business tax on a gain realized on a disposal of such shares or ADSs as set forth above for a Luxembourg
corporate holder. However, capital gains, including currency exchange gains, realized on the sale of the shares or ADSs may benefit
from the full exemption provided for by Article 1 of the Grand Ducal Decree dated December&nbsp;21, 2001 as amended, in combination
with Article 166 of the Luxembourg Income Tax Law subject in each case to fulfillment of the conditions set out therein.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">____________________________</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt"><sup>1</sup> A 7% surcharge for
the Employment Fund applies on the income tax due. The surcharge for the Employment Fund amounts to 9% for taxpayer in tax class
1 or 1a with taxable income exceeding EUR 150,000 (EUR 300,000 for taxpayer in tax class 2).</font></p>

<p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 87 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A corporate non-Luxembourg Holder, which has no permanent establishment,
permanent representative or fixed place of business in Luxembourg to which the shares or ADSs are attributable, will bear non-resident
capital gains tax on a gain realized on a disposal of such shares or ADSs under the same conditions applicable to an individual
non-Luxembourg Holder, as set out above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Tax regime applicable to distributions </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Withholding tax </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Distributions to holders are in principle subject to a 15% Luxembourg
withholding tax computed on the gross amount distributed. The rate of the withholding tax may be reduced pursuant to double tax
treaty existing between Luxembourg and the country of residence of the relevant holder, subject to the fulfillment of the conditions
set forth therein. However, distributions imputed for tax purposes to the special reserve (please see above paragraph &#8220;corporate
reorganization&#8221;) should be exempt from Luxembourg withholding tax under the current tax law.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nevertheless, no withholding tax applies if the distribution
is made to (as far as relevant in the case at hand):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a Luxembourg resident corporate holder (that is, a fully taxable <i>collectivit&#233;</i> within the meaning of article 159
of the Luxembourg Income Tax Law),</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>an undertaking of collective character which is resident of a Member State of the European Union and is referred to by article
2 of the EU Council Directive of November&nbsp;30, 2011 concerning the common fiscal regime applicable to parent and subsidiary
companies of different member states (2011/96/UE) as amended, (subject to the general anti-abuse rule provided for by Council Directive
2015/121/EU as implemented into Luxembourg law),</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a capital company or a cooperative company resident in Norway, Iceland or Liechtenstein and subject to a tax comparable to
corporate income tax as provided by the Luxembourg Income Tax Law,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a capital company resident in Switzerland which is subject to corporate income tax in Switzerland without benefiting from an
exemption,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>an undertaking with a collective character subject to a tax comparable to corporate income tax as provided by the Luxembourg
Income Tax Law which is resident in a country that has concluded a double tax treaty with Luxembourg, <i>and </i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a Luxembourg permanent establishment of one of the above-mentioned categories, provided each time that at the date of payment,
the holder holds or commits to hold directly (or through a company regarded as tax transparent from a Luxembourg tax perspective),
during an uninterrupted period of at least twelve months, shares or ADSs representing at least 10% of the share capital of the
Company or acquired for an acquisition price of at least EUR 1,200,000.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Luxembourg Holders </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With the exception of Luxembourg corporate holders benefiting
from the exemption referred to above, Luxembourg individual holders, and Luxembourg corporate holders fully subject to Luxembourg
corporate tax, must include the distributions paid on the shares or ADSs in their taxable income, 50% of the amount of such dividends
being exempt from tax. The applicable withholding tax can, under certain conditions, entitle the relevant Luxembourg Holder to
a tax credit.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Non-Luxembourg Holders </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">Non-Luxembourg
Holders of </font>shares or ADSs and <font style="font-family: Times New Roman, Times, Serif">who do not have a permanent establishment,
a permanent representative or a fixed place of business in Luxembourg to which the </font>shares or ADSs <font style="font-family: Times New Roman, Times, Serif">would
be attributable are not liable for any Luxembourg tax on dividends paid on the shares or ADSs, other than a potential withholding
tax as described above.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 88 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Net wealth tax </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Luxembourg Holders </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Luxembourg net wealth tax will not be levied on a Luxembourg
Holder with respect to the shares or ADSs held unless (i)&nbsp;the Luxembourg Holder is a legal entity subject to net wealth tax
in Luxembourg; or (ii)&nbsp;the shares or ADSs are attributable to an enterprise or part thereof which is carried on through a
permanent establishment, a fixed place of business or a permanent representative in Luxembourg.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net wealth tax is levied annually at the rate of 0.5% for taxable
net wealth not exceeding EUR 500,000,000 and at a rate of 0.05% for the net wealth exceeding EUR 500,000,000, of enterprises resident
in Luxembourg, as determined for net wealth tax purposes. The shares or ADSs may be exempt from net wealth tax subject to the conditions
set forth by Paragraph 60 of the Luxembourg Law of October 16, 1934 on the valuation of assets (<i>Bewertungsgesetz</i>), as amended.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A minimum net wealth tax charge applies as of January 1, 2016
for all corporate entities having their statutory seat or central administration in Luxembourg. Subject to certain conditions,
the amount of minimum net wealth tax may vary.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Non-Luxembourg Holders </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Luxembourg net wealth tax will not be levied on a non-Luxembourg
Holder with respect to the shares or ADSs held unless the shares or ADSs are attributable to an enterprise or part thereof which
is carried on through a permanent establishment or a permanent representative in Luxembourg. The shares or ADSs may be exempt from
net wealth tax subject to the conditions set forth by Paragraph 60 of the Luxembourg Law of October 16, 1934 on the valuation of
assets (<i>Bewertungsgesetz</i>), as amended.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Stamp and registration taxes </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No registration tax or stamp duty will be payable by a holder
of shares or ADSs in Luxembourg solely upon the disposal of shares or ADSs by sale or exchange.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Estate and gift taxes </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No estate or inheritance tax is levied on the transfer of shares
or ADSs upon the death of a holder of shares or ADSs in cases where the deceased was not a resident of Luxembourg for inheritance
tax purposes and no gift tax is levied upon a gift of shares or ADSs if the gift is not passed before a Luxembourg notary or recorded
in a deed registered in Luxembourg.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Where a holder of shares or ADSs is a resident of Luxembourg
for tax purposes at the time of his death, the shares or ADSs are included in its taxable estate for inheritance tax or estate
tax purposes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>United States federal income taxation </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This section describes the material U.S. federal income tax
consequences to a U.S. holder (as defined below) of owning shares or ADSs. It applies to you only if you hold your shares or ADSs
as capital assets for U.S. federal income tax purposes. This discussion addresses only U.S. federal income taxation and does not
discuss all of the tax consequences that may be relevant to you in light of your individual circumstances, including foreign, state
or local tax consequences, estate and gift tax consequences, and tax consequences arising under the Medicare contribution tax on
net investment income or the alternative minimum tax. This section does not apply to you if you are a member of a special class
of holders subject to special rules, including:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a dealer in securities,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a bank,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a trader in securities that elects to use a mark-to-market method of accounting for securities holdings,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a tax-exempt organization,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a person who invests through a pass-through entity, including a partnership,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a life insurance company,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 89 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a former citizen or long-term resident of the United States,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a person that actually or constructively owns 10% or more of the combined voting power of our voting stock or of the total
value of our stock (including ADSs),</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a person that holds shares or ADSs as part of a straddle or a hedging or conversion transaction for U.S. federal income tax
purposes,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a person that purchases or sells shares or ADSs as part of a wash sale for U.S. federal income tax purposes, or</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a person whose functional currency is not the U.S. dollar.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This section is based on the Internal Revenue Code of 1986,
as amended, its legislative history, existing and proposed regulations, published rulings and court decisions, all as currently
in effect, as well as on the Convention between the Government of the Grand Duchy of Luxembourg and the Government of the United
States of America for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and
Capital (the &#8220;Treaty&#8221;). These laws are subject to change, possibly on a retroactive basis. In addition, this section
is based in part upon the assumption that each obligation in the ADS deposit agreement and any related agreement will be performed
in accordance with its terms.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an entity or arrangement that is treated as a partnership
for U.S. federal income tax purposes holds the shares or ADSs, the U.S. federal income tax treatment of a partner will generally
depend upon the status of the partner and the activities of the partnership. Each such partner holding the shares or ADSs is urged
to consult his, her or its own tax advisor.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">You are a U.S. holder if you are a beneficial owner of shares
or ADSs and you are, for U.S. federal income tax purposes:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>an individual citizen or resident of the United States,</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a domestic corporation (or an entity treated as a domestic corporation),</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>an estate whose income is subject to U.S. federal income tax regardless of its source, or</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>a trust if (i)&nbsp;a U.S. court can exercise primary supervision over the trust&#8217;s administration and one or more U.S.
persons are authorized to control all substantial decisions of the trust or (ii)&nbsp;the trust has a valid election in effect
under applicable U.S. Treasury regulations to be treated as a U.S. person.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In general, and taking into account the earlier assumptions,
for U.S. federal income tax purposes, if you hold ADRs evidencing ADSs, you will be treated as the owner of the shares represented
by those ADSs. Exchanges of shares for ADRs, and ADRs for shares, generally will not be subject to U.S. federal income tax.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The tax treatment of your shares or ADSs will depend in part
on whether or not we are classified as a passive foreign investment company (&#8220;PFIC&#8221;), for United States federal income
tax purposes. Except as discussed below under &#8220;PFIC Rules&#8221;, this discussion assumes that we are not classified as a
PFIC for United States federal income tax purposes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>You should consult your own tax advisor regarding the U.S.
federal, state and local and other tax consequences of owning and disposing of shares or ADSs in your particular circumstances.
</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Taxation of distributions</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the U.S. federal income tax laws, if you are a U.S. holder,
the gross amount of any distribution we pay out of our current or accumulated earnings and profits (as determined for U.S. federal
income tax purposes), other than certain pro-rata distributions of our shares, including the amount of any Luxembourg tax withheld,
will be treated as a dividend that is subject to U.S. federal income taxation. If you are a non-corporate U.S. holder, dividends
paid to you that constitute qualified dividend income will be taxable to you at the preferential rates applicable to long-term
capital gains provided that you hold shares or ADSs for more than 60 days during the 121-day period beginning 60 days before the
ex-dividend date and meet other holding period requirements. Dividends we pay with respect to the shares or ADSs generally will
be qualified dividend income, provided that, in the year that you receive the dividend, we are eligible for the benefits of the
Treaty. We believe that we are currently eligible for the benefits of the Treaty and therefore expect that dividends on the shares
or ADSs will be qualified dividend income, but there can be no assurance that we will continue to be eligible for the benefits
of the Treaty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">You must generally include any Luxembourg tax withheld from
the dividend payment in this gross amount even though you do not in fact receive it. The dividend is taxable to you when you receive
it, or, in the case of ADSs, when the depositary receives the dividend, actually or constructively. The dividend will not be eligible
for the dividends-received deduction generally allowed to U.S. corporations in respect of dividends received from other U.S. corporations.
Distributions in excess of current and accumulated earnings and profits, as determined for U.S. federal income tax purposes, will
be treated as a non-taxable return of capital to the extent of your basis in the shares or ADSs and thereafter as capital gain.
However, we do not expect to calculate earnings and profits in accordance with U.S. federal income tax principles. Therefore, you
should expect that a distribution will generally be treated as a dividend (as discussed above).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 90 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dividends will generally be income from sources outside the
United States and, generally, will be &#8220;passive&#8221; income for purposes of computing the foreign tax credit allowable to
you.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to certain limitations, the Luxembourg tax withheld
in accordance with the Treaty and paid over to Luxembourg will be creditable or deductible against your U.S. federal income tax
liability. Special rules apply in determining the foreign tax credit limitation with respect to dividends that are subject to the
preferential tax rates. To the extent a refund of the tax withheld is available to you under Luxembourg law or under the Treaty,
the amount of tax withheld that is refundable will not be eligible for credit against your U.S. federal income tax liability.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In certain circumstances, if you have held ADSs for less than
a specified minimum period during which you are not protected from risk of loss, or are obligated to make payments related to the
dividends, you will not be allowed a foreign tax credit for foreign taxes imposed on dividends that we pay.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The rules governing the foreign tax credit are complex. You
are urged to consult your tax advisors regarding the availability of the foreign tax credit under your particular circumstances.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Taxation of capital gains </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If you are a U.S. holder and you sell or otherwise dispose of
your shares or ADSs, you will recognize capital gain or loss for U.S. federal income tax purposes equal to the difference between
the U.S. dollar value of the amount that you realize and your tax basis, determined in U.S. dollars, in your shares or ADSs. Capital
gain of a non-corporate U.S. holder is generally taxed at preferential rates where the property is held for more than one year.
The gain or loss will generally be income or loss from sources within the United States for foreign tax credit limitation purposes.
The deductibility of capital losses is subject to limitations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Additional U.S. Federal Income Tax Considerations </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>PFIC rules. </i>Based on the Company&#8217;s current and
expected income and assets, we believe that the shares or ADSs should not currently be treated as stock of a PFIC for U.S. federal
income tax purposes, and we do not expect to become a PFIC in the foreseeable future. However, this conclusion is a factual determination
that is made annually and thus may be subject to change. It is therefore possible that we could become a PFIC in a future taxable
year. If we were to be treated as a PFIC, gain realized on the sale or other disposition of your shares or ADSs would in general
not be treated as capital gain. Furthermore, if you are a U.S. holder, unless you are permitted to elect and you do elect to be
taxed annually on a mark-to-market basis with respect to the shares or ADSs, upon sale or disposition of your shares or ADSs, you
would generally be treated as if you had realized such gain and certain &#8220;excess distributions&#8221; ratably over your holding
period for the shares or ADSs and would be taxed at the highest tax rate in effect for each such year to which the gain was allocated,
together with an interest charge in respect of the tax attributable to each such year. With certain exceptions, your shares or
ADSs will be treated as stock in a PFIC if we were a PFIC at any time during your holding period in your shares or ADSs. Dividends
that you receive from us will not be eligible for the special tax rates applicable to qualified dividend income if we are a PFIC
(or are treated as a PFIC with respect to you) either in the taxable year of the distribution or the preceding taxable year, but
instead will be taxable at rates applicable to ordinary income and subject to the excess distribution regime described above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 91 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>F.</b></td><td><b>Dividends and Paying Agents</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>G.</b></td><td><b>Statement by Experts</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>H.</b></td><td><b>Documents on Display</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is required to file annual and special reports and
other information with the SEC. You may read and copy any documents filed by the Company at the SEC&#8217;s public reference room
at 100 F Street, N.E., Room 1580 Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public
reference room. The SEC also maintains an Internet website at http://www.sec.gov which contains reports and other information regarding
registrants that file electronically with the SEC.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is subject to the reporting requirements of the
U.S. Securities Exchange Act of 1934, as amended, or the Exchange Act, as applied to foreign private issuers. Because the Company
is a foreign private issuer, the SEC&#8217;s rules do not require it to deliver proxy statements or to file quarterly reports.
In addition, the Company&#8217;s &#8220;insiders&#8221; are not subject to the SEC&#8217;s rules that prohibit short-swing trading.
We prepare quarterly and annual reports containing consolidated financial statements according to IFRS. The Company&#8217;s annual
consolidated financial statements are audited by an independent accounting firm. The Company submits quarterly financial information
with the SEC on Form 6-K simultaneously with or promptly following the publication of that information in Luxembourg or any other
jurisdiction in which the Company&#8217;s securities are listed, and the Company files annual reports on Form 20-F within the time
period required by the SEC, which is currently four months from the close of the fiscal year on December&nbsp;31. These quarterly
and annual reports may be reviewed at the SEC&#8217;s public reference room. Reports and other information filed electronically
with the SEC are also available at the SEC&#8217;s Internet website.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a foreign private issuer under the Securities Act, the Company
is not subject to the proxy rules of Section&nbsp;14 of the Exchange Act or the insider short-swing profit reporting requirements
of Section&nbsp;16 of the Exchange Act.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the year ended December&nbsp;31, 2019, the Company&#8217;s
Depositary for issuing ADSs evidencing shares was&nbsp;Deutsche Bank Trust Company Americas. During the time there continues to
be ADSs deposited with the Depositary, the Company will furnish the Depositary with:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>its annual reports, <i>and</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>copies of all notices of shareholders&#8217; meetings and other reports and communications that are made generally available
to the Company&#8217;s shareholders.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Depositary will, as provided in the deposit agreement and
if requested in writing by the Company, arrange for the mailing of such reports, notices and communications to all record holders
of ADSs, on a basis similar to that for holders of shares, or on such other basis as the Company may advise the Depositary may
be required by any applicable law or regulation or any requirement of any stock exchange to which the Company may be subject. Any
reports and communications, including any proxy solicitation material, shall be furnished in English to the extent such materials
are required to be translated into English pursuant to any regulations of the SEC.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any record holder of ADSs may read the reports, notices, and
other communications including any proxy solicitation material at the Depositary&#8217;s office located at 60 Wall Street, New
York, New York 10005.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, such reports, notices and other communications are made available
to all shareholders and holders of ADSs on the Company&rsquo;s website at: https://ir.tenaris.com/investor-relations</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>





<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Whenever a reference is made in this annual report to a contract
or other document, please be aware that such reference is not necessarily complete and that you should refer to the exhibits that
are a part of this annual report for a copy of the contract or other document. You may review a copy of the annual report at the
SEC&#8217;s public reference room in Washington, D.C.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 92 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>I.</b></td><td><b>Subsidiary Information</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_013"></a>Item&nbsp;11.</b></td><td><b>Quantitative and Qualitative Disclosure about Market Risk</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The multinational nature of our operations and customer base
expose us to a variety of risks, including the effects of changes in foreign currency exchange rates, interest rates and commodity
prices. In order to reduce the impact related to these exposures, management evaluates exposures on a consolidated basis to take
advantage of natural exposure netting. For the residual exposures, we may enter into various derivative transactions in order to
reduce potential adverse effects on our financial performance. Such derivative transactions are executed in accordance with internal
policies and hedging practices. We do not enter into derivative financial instruments for trading or other speculative purposes,
other than non-material investments in structured products.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following information should be read together with section
III, &#8220;Financial risk management&#8221; to our audited consolidated financial statements included elsewhere in this annual
report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Debt Structure</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following tables provide a breakdown of our debt instruments
at December 31, 2019 and 2018 which included fixed and variable interest rate obligations, detailed by maturity date:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">At December 31, 2019</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="23" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Expected maturity date</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2023</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2024</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Thereafter</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>Total <sup>(1)</sup></b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="27" style="white-space: nowrap; font-weight: bold; text-align: center">(in millions of U.S. dollars)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Non-current Debt</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 30%; text-align: left">Fixed rate</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">16</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">23</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 7%; font-weight: bold; text-align: right">40</td><td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Floating rate</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">1</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Current Debt</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Fixed rate</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">728</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">728</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">Floating rate</td><td>&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">53</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">53</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">781</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">17</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">24</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">822</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">At December 31, 2018</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="23" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Expected maturity date</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2023</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Thereafter</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>Total <sup>(1)</sup></b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="27" style="white-space: nowrap; font-weight: bold; text-align: center">(in millions of U.S. dollars)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Non-current Debt</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 30%; text-align: left">Fixed rate</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">4</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">4</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">20</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 7%; text-align: right">&#8211;</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 7%; font-weight: bold; text-align: right">28</td><td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Floating rate</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">1</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Current Debt</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Fixed rate</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">493</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">493</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">Floating rate</td><td>&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">17</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">510</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">4</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">20</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&#8211;</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">539</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_______________</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-size: 8pt"><sup>(1)</sup></font></td><td><font style="font-size: 8pt">As most borrowings are
                                         based on short-term fixed rates, or floating rates that approximate market rates, with
                                         interest rate resetting every 3 to 6 months, the fair value of the borrowings approximates
                                         its carrying amount and is not disclosed separately.</font></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our weighted average interest rates before tax (considering
hedge accounting), amounted to 3.18% at December 31, 2019 and to 3.98% at December 31, 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Our financial liabilities (other than trade
payables and derivative financial instruments) consist mainly of bank loans. As of December 31, 2019, U.S. dollar denominated financial
debt plus debt denominated in other currencies swapped to the U.S. dollar represented 89% of total financial debt.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">For further information about our financial
debt, please see note 19 &#8220;Borrowings&#8221; to our audited consolidated financial statements included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<!-- Field: Page; Sequence: 93 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest Rate Risk</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Fluctuations in market interest rates create
a degree of risk by affecting the amount of our interest payments. At December 31, 2019, we had variable interest rate debt of
$54 million and fixed rate debt of $768 million ($728 million of the fixed rate debt are short-term).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Foreign Exchange Rate Risk</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We manufacture and sell our products in a number of countries
throughout the world and consequently we are exposed to foreign exchange rate risk. Since the Company&#8217;s functional currency
is the U.S. dollar, the purpose of our foreign currency hedging program is mainly to reduce the risk caused by changes in the exchange
rates of other currencies against the U.S. dollar.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Most of our revenues are determined or influenced by the U.S. dollar.
In addition, a relevant part of our costs corresponds to steelmaking raw materials and steel coils and plates, also determined
or influenced by the U.S. dollar. However, outside the United States, a portion of our expenses is incurred in foreign currencies
(e.g. labor costs). Therefore, when the U.S. dollar weakens in relation to the foreign currencies of the countries where we manufacture
our products, the U.S. dollar-reported expenses increase. Had the U.S. dollar average exchange rate been weaker by 5% against the
currencies of the countries where we have labor costs, operating income would have decreased approximately by $49 million in 2019,
compared with $50 million in 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our consolidated exposure to currency fluctuations is reviewed
on a periodic basis. A number of hedging transactions are performed in order to achieve an efficient coverage in the absence of
operative or natural hedges. Almost all of these transactions are forward exchange rate contracts.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Because certain subsidiaries have functional currencies other
than the U.S. dollar, the results of hedging activities as reported in the income statement under IFRS may not reflect entirely
management&#8217;s assessment of its foreign exchange risk hedging needs. Also, intercompany balances between our subsidiaries
may generate exchange rate results to the extent that their functional currencies differ.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The value of our financial assets and liabilities is subject
to changes arising out of the variation of foreign currency exchange rates. The following table provides a breakdown of our main
financial assets and liabilities (including foreign exchange derivative contracts) that impact our profit and loss as of December
31, 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td colspan="3" style="white-space: nowrap; font-style: italic">All amounts in millions of U.S. dollars</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Currency Exposure</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Functional currency</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Long / (Short) Position</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 50%; text-align: left">Argentine Peso</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 24%; text-align: left">U.S. dollar</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 20%; text-align: right">(96</td><td style="white-space: nowrap; width: 1%; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Euro</td><td>&nbsp;</td>
    <td style="text-align: left">U.S. dollar</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(104</td><td style="white-space: nowrap; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Saudi Arabian Riyal</td><td>&nbsp;</td>
    <td style="text-align: left">U.S. dollar</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(108</td><td style="white-space: nowrap; text-align: left">)</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The main relevant exposures as of December&nbsp;31, 2019 were
to Argentine peso-denominated financial, trade, social and fiscal payables at our Argentine subsidiaries, for which the functional
currency is the U.S. dollar, Euro-denominated intercompany liabilities at certain subsidiaries for which functional currency is
the U.S. dollar, and Saudi Arabian Riyal-denominated financial and trade payables. The Saudi Arabian Riyal is tied to the dollar.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Foreign Currency Derivative Contracts</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The net fair value of our foreign currency derivative contracts
amounted to an asset of $18.1 million at December 31, 2019 and a liability of $2.8 million at December 31, 2018. For further detail
on our foreign currency derivative contracts, please see note 24 &#8220;Derivative financial instruments &#8211; Foreign exchange
derivative contracts and hedge accounting&#8221; to our audited consolidated financial statements included in this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Accounting for Derivative Financial
Instruments and Hedging Activities</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Derivative financial instruments are classified as financial
assets (or liabilities) at fair value through profit or loss. Their fair value is calculated using standard pricing techniques
and, as a general rule, we recognize the full amount related to the change in its fair value under financial results in the current
period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We designate for hedge accounting certain derivatives and non-derivative
financial liabilities (leasing liabilities denominated in Japanese Yen) to hedge risks associated with recognized assets, liabilities
or highly probable forecast transactions. These instruments are classified as cash flow hedges. The effective portion of the fair
value of such derivatives is accumulated in a reserve account in equity. Similarly, the effective portion of the foreign exchange
result on the designated leasing liability is recognized in equity. Amounts accumulated in equity are then recognized in the income
statement in the same period when the offsetting losses and gains on the hedged item are recorded. The gain or loss relating to
the ineffective portion is recognized immediately in the income statement. The fair value of our derivative financial instruments
(assets or liabilities) continues to be reflected on the consolidated statement of financial position. The lease liability is recognized
on the balance sheet at each period end at the exchange rate as of the end of each month.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 94 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->94<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At December 31, 2019, the effective portion of designated cash
flow hedges, included in other reserves in shareholders&#8217; equity amounted to a credit of $2.6 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Concentration of credit risk</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There is no significant concentration of credit from customers.
No single customer comprised more than 10% of our net sales in 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our credit policies related to sales of products and services
are designed to identify customers with acceptable credit history, and to allow us to use credit insurance, letters of credit and
other instruments designed to minimize credit risk whenever deemed necessary. We maintain allowances for potential credit losses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Commodity Price Sensitivity</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We use commodities and raw materials that are subject to price
volatility caused by supply conditions, political and economic variables and other unpredictable factors. As a consequence, we
are exposed to risk resulting from fluctuations in the prices of these commodities and raw materials. Although we fix the prices
of such raw materials and commodities for short-term periods, typically not in excess of one year, in general we do not hedge this
risk.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_014"></a>Item&nbsp;12.</b></td><td><b>Description of Securities Other Than Equity Securities</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>A.</b></td><td><b>Debt securities</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>B.</b></td><td><b>Warrants and Rights</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>C.</b></td><td><b>Other securities</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><b>D.</b></td><td><b>American Depositary Shares</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">According to our deposit agreement, holders of ADSs may have
to pay to the Depositary, either directly or indirectly, fees or charges up to the amounts set forth below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>A fee of $5.00 (or less) per 100 ADSs (or portion of 100 ADSs) for: issuance of ADSs, including issuances resulting from a
distribution of shares or rights or other property; and cancellation of ADSs for the purpose of withdrawal, including if the deposit
agreement terminates.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>A fee of $0.02 (or less) per ADSs for any cash distribution to ADS registered holders, excluding cash dividend.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Any charges for taxes and other governmental charges that the Depositary or the custodian may be required to pay on any ADS
or share underlying an ADS (e.g., share transfer taxes, stamp duty or withholding taxes); and any charges incurred by the Depositary
or its agents for servicing the depositary securities.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Registration or transfer fees for transfer and registration of shares on our share register to or from the name of the Depositary
or its agent when you deposit or withdraw shares.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 95 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->95<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Expenses of the Depositary for cable, telex and facsimile transmissions (when expressly provided in the deposit agreement);
and conversion of foreign currency.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>A fee equivalent to the fee that would be payable if securities distributed to ADS holders had been shares and the shares had
been deposited for issuance of ADSs for distribution of securities distributed to holders of deposited securities which are distributed
by the Depositary to ADS registered holders.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>As necessary, charges for any costs incurred by the Depositary or its agents for servicing the deposited securities.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Depositary collects its fees for delivery and surrender
of ADSs directly from investors depositing shares or surrendering ADSs for the purpose of withdrawal or from intermediaries acting
for them. The Depositary collects fees for making distributions to investors by deducting those fees from the amounts distributed
or by selling a portion of distributable property to pay the fees. The Depositary may collect its annual fee for depositary services
by deduction from cash distributions or by directly billing investors or by charging the book-entry system accounts of participants
acting for them. The Depositary may generally refuse to provide fee-attracting services until its fees for those services are paid.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the deposit agreement with the Depositary, the Depositary
is not liable to holders of ADSs, except that the Depositary agrees to perform its obligations specifically set forth therein without
gross negligence and willful misconduct.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Fees Payable by the Depositary to the Company</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On June 21, 2019, the Company and Deutsche Bank Trust Company
Americas entered into a new five-year engagement effective as of March 13, 2018.&nbsp;No amendments to the existing ADS Deposit
Agreement were made in connection with the new engagement letter.&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>Fees paid in 2019 and 2020</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">In 2019, the Company received fees from Deutsche Bank Trust Company Americas, as the
Company&rsquo;s Depositary, for an amount of $1,077,194, for the period March 13, 2018 through February 28, 2019, and in 2020 the
Company received fees from the Depositary for an amount of $1,260,803.73, in each case based on the Depositary&rsquo;s revenues
resulting from issuance and cancellation fees charged to ADR holders, net of custody and safe keeping costs. In addition, the Depositary
has waived the cost of providing administrative and reporting services, and access charges in connection with the Company&rsquo;s
ADR Program.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><a name="a_015"></a>PART II</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_016"></a>Item&nbsp;13.</b></td><td><b>Defaults, Dividend Arrearages and Delinquencies</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_017"></a>Item&nbsp;14.</b></td><td><b>Material Modifications to the Rights of Security Holders and Use of Proceeds</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_018"></a>Item&nbsp;15.</b></td><td><b>Controls and Procedures</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Evaluation of Disclosure Controls and Procedures</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the supervision and with the participation of our management,
including our Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of the design and operation
of our disclosure controls and procedures (as such term is defined in Rules&nbsp;13a-15(e) and 15d-15(e) under the Exchange Act
as of December&nbsp;31, 2019).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 96 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->96<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based on that evaluation, our Chief Executive Officer and Chief
Financial Officer have concluded that, as of December 31, 2019, our disclosure controls and procedures are effective to ensure
that information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in the SEC&#8217;s rules and forms and to ensure that such information
is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely
decisions regarding required disclosure. Our disclosure controls and procedures are designed to provide reasonable assurance of
achieving their objectives. Our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls
and procedures are effective at a reasonable assurance level.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Management&#8217;s Report on Internal Control over Financial
Reporting</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management is responsible for establishing and maintaining adequate
internal control over financial reporting (as such term is defined in Rules&nbsp;13a-15(f) and 15d-15(f) under the Exchange Act).
Our internal control over financial reporting was designed by management to provide reasonable assurance regarding the reliability
of financial reporting and the preparation and fair presentation of its financial statements for external purposes in accordance
with IFRS.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, under the Company&#8217;s articles of association,
as supplemented by the audit committee&#8217;s charter, the audit committee assists the board of directors in fulfilling its oversight
responsibilities relating to the effectiveness of the Company&#8217;s systems of internal control, risk management and internal
audit over financial reporting. In particular, the audit committee is required to review the scope and results of the activities
of the Company&#8217;s external auditors and the internal audit function relating to the Company&#8217;s internal control over
financial reporting, and obtain reports on significant findings and recommendations; and is also required to assess, at least annually
at the time the annual accounts are approved, the effectiveness of the Company&#8217;s systems of internal control and risk management
over financial reporting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements or omissions. In addition, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On a yearly basis, management conducts its assessment of the
effectiveness of Tenaris&#8217;s internal control over financial reporting based on the framework in <i>Internal Control- Integrated
Framework (2013)</i> issued by the Committee of Sponsoring Organizations of the Treadway Commission.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February 18, 2020, management reported to the audit committee
of the Company&#8217;s board of directors that management had conducted its assessment of the effectiveness of the Company&#8217;s
internal controls over financial reporting for the year ended December 31, 2019, and that, based on management&#8217;s evaluation
and considering the inherent limitations to the effectiveness of any internal control system, management had concluded that the
Company&#8217;s internal controls over financial reporting were effective as of December 31, 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The effectiveness of Tenaris&#8217;s internal control over financial
reporting as of December 31, 2019 has been audited by PwC Luxembourg, as stated in their report included herein. See &#8220;&#8212;Attestation
of Registered Public Accounting Firm&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Attestation Report of Registered Public Accounting Firm</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See page F-1 of the audited consolidated financial statements
included in this report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Change in Internal Control over Financial Reporting</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There were no changes in our internal control over financial reporting
(as such term is defined in Rules 13(a)-15(f) and 15(d)-15(f) under the Exchange Act) during the year ended December 31, 2019,
that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_019"></a>Item&nbsp;16A.</b></td><td><b>Audit Committee Financial Expert</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&#8217;s board of directors has determined that none
of the audit committee members meets the attributes defined in Item 16A of Form 20-F for an &#8220;audit committee financial expert&#8221;.
However, applicable Luxembourg law requires that at least one of the audit committee members have competence in accounting or auditing
matters, and the Company&#8217;s board of directors has determined that Ms. M&#243;nica Tiuba has the requisite competence. In
addition, the audit committee as a whole has sufficient relevant knowledge of the business and financial experience to properly
discharge its functions. The audit committee has the authority to engage, from time to time and as it deems necessary, persons
that meet all of the attributes of an &#8220;audit committee financial expert&#8221; as consultants.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 97 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->97<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_020"></a>Item&nbsp;16B.</b></td><td><b>Code of Ethics</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has adopted a general code of conduct incorporating
guidelines and standards of integrity and transparency applicable to all of our directors, officers and employees. As far as the
nature of each relation permits, all principles detailed in the code of conduct also apply to relations with our contractors, subcontractors,
suppliers and associated persons. In addition, the Company has adopted a code of ethics for financial officers, which is intended
to supplement the Company&#8217;s code of conduct, and applies specifically to the principal executive officer, the principal financial
officer, the principal accounting officer or controller, as well as persons performing similar functions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">Our code of conduct and our
code of ethics for senior financial officers are posted on our website at:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">https://www.tenaris.com/en/sustainability/governance-and-ethics/</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_021"></a>Item&nbsp;16C.</b></td><td><b>Principal Accountant Fees and Services</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Fees paid to the Company&#8217;s Principal Accountant</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In 2019 and 2018, PwC Luxembourg served as the principal external
auditor for the Company. Fees paid to PwC Luxembourg and other PwC member firms for the years ended December 31, 2019 and December
31, 2018 are detailed below.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="7" style="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-style: italic">Thousands of U.S. dollars</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td><td>&nbsp;</td>
    <td colspan="3" style="white-space: nowrap">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left">Audit Fees</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 14%; text-align: right">3,846</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 2%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 14%; text-align: right">3,841</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Audit-Related Fees</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">50</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">43</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Tax Fees</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">7</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&#8211;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt">All Other Fees</td><td>&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">7</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; padding-bottom: 1pt">Total</td><td style="font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,904</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,891</td><td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Audit Fees</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Audit fees were paid for professional services rendered by the
external auditors for the audit of the consolidated financial statements and internal control over financial reporting of the Company,
the statutory financial statements of the Company and its subsidiaries, and any other audit services required in connection with
the Company&#180;s filings with the U.S. Securities and Exchange Commission or other regulatory filings.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Audit-Related Fees</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Audit-related fees are typically services that are reasonably
related to the performance of the audit or review of the consolidated financial statements and are not reported under the audit
fee item above. This item includes, among others, fees for attestation services on financial information of the Company and its
subsidiaries included in annual reports filed with the applicable regulators.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Tax Fees </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tax fees paid for tax compliance and tax advice professional
services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>All Other Fees</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Consisted primarily of fees paid for services provided in connection
with training courses to Tenaris employees.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Audit Committee&#8217;s Pre-approval Policies and Procedures
</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&#8217;s audit committee is responsible for, among
other things, the oversight of the Company&#8217;s external auditors. The audit committee has adopted in its charter a policy of
pre-approval of audit and permissible non-audit services provided by its external auditors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 98 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->98<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the policy, the audit committee makes its recommendations
to the shareholders&#8217; meeting concerning the continuing appointment or termination of the Company&#8217;s external auditors.
On a yearly basis, the audit committee reviews together with management and the external auditor, the audit plan, audit related
services and other non-audit services and approves, <i>ad-referendum</i> of the general shareholders&#8217; meeting, the related
fees. Any changes to the approved fees must be reviewed and approved by the audit committee. The general shareholders&#8217; meeting
normally approves such audit fees and authorizes the audit committee to approve any increase or reallocation of such audit fees
as may be necessary, appropriate or desirable under the circumstances. The audit committee delegates to its Chairman the authority
to consider and approve, on behalf of the audit committee, additional non-audit services that were not recognized at the time of
engagement, which must be reported to the other members of the audit committee at its next meeting. No services outside the scope
of the audit committee&#8217;s approval can be undertaken by the external auditor.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During 2019, the audit committee did not approve any fees pursuant
to the <i>de minimis</i> exception to the pre-approval requirement provided by paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation
S-X.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 1in"><b><a name="a_022"></a>Item&nbsp;16D.</b></td><td><b>Exemptions from the Listing Standards for Audit Committees</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_023"></a>Item&nbsp;16E.</b></td><td><b>Purchases of Equity Securities by the Issuer and Affiliated Purchasers</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In 2019, there were no purchases of any class of registered
equity securities of the Company by the Company or, to our knowledge, by any &#8220;affiliated purchaser&#8221; (as such term is
defined in Rule 10b-18(a)(3) under the Exchange Act).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May&nbsp;6, 2015, the annual ordinary general meeting of
shareholders, authorized the Company and the Company&#8217;s subsidiaries to acquire, from time to time, shares of the Company,
including shares represented by ADSs (collectively &#8220;Securities&#8221;), on the terms and conditions set forth below. Although
the validity period of such authorization will expire on May 6, 2020, the general shareholders&#8217; meeting to be held on June
2, 2020, will consider a renewal of such authorization for five additional years.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Purchases, acquisitions or receipts of securities may be made in one or more transactions as the board of directors of the
Company or the board of directors or other governing bodies of the relevant entity, as applicable, considers advisable.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The maximum number of Securities acquired pursuant to this authorization may not exceed 10% of the Company&#8217;s issued and
outstanding shares or, in the case of acquisitions made through a stock exchange in which the Securities are traded, such lower
amount as may not be exceeded pursuant to any applicable laws or regulations of such market. The number of Securities acquired
as a block may amount to the maximum permitted amount of purchases.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The purchase price per share to be paid in cash may not exceed 125% (excluding transaction costs and expenses), nor may it
be lower than 75% (excluding transaction costs and expenses), in each case of the average of the closing prices of the Company&#8217;s
Securities in the stock exchange through which the Company&#8217;s Securities are acquired, during the five trading days in which
transactions in the Securities were recorded in such stock exchange preceding (but excluding) the day on which the Company&#8217;s
Securities are acquired. For over-the-counter or off-market transactions, the purchase price per ADS to be paid in cash may not
exceed 125% (excluding transaction costs and expenses), nor may it be lower than 75% (excluding transaction costs and expenses),
in each case of the average of the closing prices of the ADSs in the New York Stock Exchange during the five trading days in which
transactions in ADSs were recorded in the New York Stock Exchange preceding (but excluding) the day on which the ADSs are acquired;
and, in the case of acquisition of Securities, other than in the form of ADSs, such maximum and minimum per security purchase prices
shall be equal to the prices that would have applied in case of an ADS purchase pursuant to the formula above divided by the number
of underlying shares represented by an ADS at the time of the relevant purchase. Compliance with maximum and minimum purchase price
requirements in any and all acquisitions made pursuant to this authorization (including, without limitation, acquisitions carried
out through the use of derivative financial instruments or option strategies) shall be determined on and as of the date on which
the relevant transaction is entered into, irrespective of the date on which the transaction is to be settled.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The above maximum and minimum purchase prices shall, in the event of a change in the par value of the Securities, a capital
increase by means of a capitalization of reserves, a distribution of Securities under compensation or similar programs, a stock
split or reverse stock split, a distribution of reserves or any other assets, the redemption of capital, or any other transaction
impacting on the Company&#8217;s equity, be adapted automatically, so that the impact of any such transaction on the value of the
Securities shall be reflected.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 99 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->99<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The acquisitions of Securities may not have the effect of reducing the Company&#8217;s net assets below the sum of the Company&#8217;s
share capital plus its undistributable reserves.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>Only fully paid-up Securities may be acquired pursuant to this authorization.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The acquisitions of Securities may be carried out for any purpose, as may be permitted under applicable laws and regulations,
including without limitation to reduce the share capital of the Company, to offer such shares to third parties in the context of
corporate mergers or acquisitions of other entities or participating interests therein, for distribution to the Company&#8217;s
or the Company&#8217;s subsidiaries&#8217; directors, officers or employees or to meet obligations arising from convertible debt
instruments.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The acquisitions of Securities may be carried out by any and all means, as may be permitted under applicable laws and regulations,
including through any stock exchange in which the Company&#8217;s Securities are traded, through public offers to all shareholders
of the Company to buy Securities, through the use of derivative financial instruments or option strategies, or in over-the-counter
or off-market transactions or in any other manner.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The acquisitions of Securities may be carried out at any time, during the duration of the authorization, including during a
tender offer period, as may be permitted under applicable laws and regulations.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The authorization granted to acquire securities shall be valid for such maximum period as may be provided for under applicable
Luxembourg law as in effect from time to time (such maximum period being, as of to date, 5 years).</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 28.35pt"><font style="font-family: Symbol">&#183;</font></td><td>The acquisitions of securities shall be made at such times and on such other terms and conditions as may be determined by the
board of directors of the Company or the board of directors or other governing bodies of the relevant subsidiary, provided that,
any such purchase shall comply with Article 430-15 et. seq. of the Luxembourg Company Law (or any successor law) and, in the case
of acquisitions of securities made through a stock exchange in which the Company&#8217;s securities are traded, with any applicable
laws and regulations of such market.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the future, we may, on the terms and subject to the conditions
above referred, initiate a share capital repurchase or similar program or engage in other transactions pursuant to which we would
repurchase, directly or indirectly, the Company&#8217;s Securities. In addition, we or our subsidiaries may enter into transactions
involving sales or purchases of derivatives or other instruments, either settled in cash or through physical delivery of securities,
with returns linked to the Company&#8217;s Securities. The timing and amount of repurchase transactions under any such program,
or sales or purchases of derivatives or other instruments, would depend on market conditions as well as other corporate and regulatory
considerations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_024"></a>Item&nbsp;16F.</b></td><td><b>Change in Registrant&#8217;s Certifying Accountant</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_025"></a>Item&nbsp;16G.</b></td><td><b>Corporate Governance</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s corporate governance practices are governed
by Luxembourg Law (including, among others, the Luxembourg Company Law, the Luxembourg Law of January 11,&nbsp;2008 on transparency
requirements for issuers, as amended (which transposes EU Directive 2004/109 of the European Parliament and of the Council of December
15, 2004), the Shareholders&rsquo; Rights Law and the Audit Reform Law) and by the Company&rsquo;s articles of association. As
a Luxembourg company listed on the New York Stock Exchange (the NYSE), the Bolsa Mexicana de Valores, S.A. de C.V. (the Mexican
Stock Exchange), and the Borsa Italiana S.p.A. (the Italian Stock Exchange), the Company is required to comply with some, but not
all, of the corporate governance standards of these exchanges. The Company, however, believes that the Company&rsquo;s corporate
governance practices meet, in all material respects, the corporate governance standards that are generally required for controlled
companies by all of the exchanges on which the Company&rsquo;s securities trade.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following is a summary of the significant ways that the
Company&#8217;s corporate governance practices differ from the corporate governance standards required for controlled companies
by the NYSE. The Company&#8217;s corporate governance practices may differ in non-material ways from the standards required by
the NYSE that are not detailed here.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Non-management directors&#8217; meetings</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under NYSE standards, non-management directors must meet at
regularly scheduled executive sessions without management present and, if such group includes directors who are not independent,
a meeting should be scheduled once per year including only independent directors. Neither Luxembourg law nor the Company&#8217;s
articles of association require the holding of such meetings and the Company does not have a set policy for these meetings. For
additional information on board meetings, see Item&nbsp;6.A. &#8220;Directors, Senior Management and Employees &#8211; Directors
and Senior Management &#8211; Board of Directors&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 100 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, NYSE-listed companies are required to provide a
method for interested parties to communicate directly with the non-management directors as a group. While the Company does not
have such a method, it has set up a compliance line for investors and other interested parties to communicate their concerns directly
to the members of our audit committee, all of whom are non-management, independent directors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Audit committee</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under NYSE standards, listed U.S. companies are required to
have an audit committee composed of independent directors that satisfy the requirements of Rule 10A-3 promulgated under the Exchange
Act. Pursuant to the Company&#8217;s articles of association, as supplemented by the audit committee&#8217;s charter, for as long
as our shares are listed on at least one regulated market, the Company must have an audit committee composed of at least three
members, the majority of whom must qualify as independent directors (as defined in the Company&#8217;s articles of association),
provided, however, that the composition and membership of the audit committee shall satisfy such requirements as are applicable
to, and mandatory for, audit committees of issuers such as the Company under any law, rule or regulation applicable to the Company
(including, without limitation, the applicable laws, rules and regulations of such regulated market or markets). The Company&#8217;s
audit committee, which currently consists of four members, complies with such requirements. In accordance with NYSE standards,
the Company has an audit committee entirely composed of independent directors for purposes of the U.S. Securities Exchange Act
Rule 10A-3(b)(1). For more information on the Company&#8217;s audit committee see Item&nbsp;6.C. &#8220;Directors, Senior Management
and Employees&#8211; Board Practices &#8211; Audit Committee&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under NYSE standards, all audit committee members of listed
U.S. companies are required to be financially literate or must acquire such financial knowledge within a reasonable period and
at least one of its members shall have experience in accounting or financial administration. In addition, if a member of the audit
committee is simultaneously a member of the audit committee of more than three public companies, and the listed company does not
limit the number of audit committees on which its members may serve, then in each case the board must determine whether the simultaneous
service would prevent such member from effectively serving on the listed company&#8217;s audit committee and shall publicly disclose
its decision. Luxembourg law provisions on audit committee membership require only that at least one member of the audit committee
have competence in accounting or auditing matters. The board of directors of the Company has determined that Ms. Tiuba is competent
in accounting or auditing matters. In addition, the membership of the audit committee as a whole has sufficient relevant knowledge
of the business and financial experience to properly discharge its functions. The audit committee has the authority, from time
to time and as it deems necessary, to engage persons that meet all of the attributes of a financial expert as consultants. See
Item&nbsp;16.A. &#8220;Audit Committee Financial Expert&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Standards for evaluating director independence</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the NYSE standards, the board is required, on a case by
case basis, to express an opinion with regard to the independence or lack of independence of each individual director. Neither
Luxembourg law nor the Company&#8217;s articles of association requires the board of directors to express such an opinion. In addition,
the definition of &#8220;independent&#8221; under the NYSE rules differ in some non-material respects from the definition contained
in the Company&#8217;s articles of association. For more information on our independent directors and the definition of &#8220;independent&#8221;
under our articles of association see Item&nbsp;6.A. &#8220;Directors, Senior Management and Employees &#8211; Directors and Senior
Management &#8211; Board of Directors&#8221; and Item&nbsp;6.C. &#8220;Directors, Senior Management and Employees &#8211; Board
Practices &#8211; Audit Committee&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Audit committee responsibilities</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Company&#8217;s articles of association, the
audit committee shall assist the board of directors in fulfilling its oversight responsibilities relating to the integrity of its
consolidated financial statements, the effectiveness of its systems of internal control, risk management and internal audit over
financial reporting and the independence and performance of the external auditors. The audit committee is required to review material
transactions (as defined by our articles of association) between the Company or its subsidiaries with related parties and also
perform the other duties entrusted to it by the board. The NYSE requires certain matters to be set forth in the audit committee
charter of U.S. listed companies.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&#8217;s audit committee charter provides for many
of the responsibilities that are expected from such bodies under the NYSE standard and in accordance with applicable Luxembourg
law, including the Audit Reform Law; however, due to the Company&#8217;s equity structure and holding company nature, the charter
does not contain all such responsibilities, including provisions related to procedures for the receipt and treatment of complaints
(although he Company has established such procedures), funding for payment of administrative expenses and compensation to advisors
(although the audit committee has the authority to engage outside advisors), setting hiring policies for employees or former employees
of external auditors, and an annual performance evaluation of the audit committee. For more information on our audit committee
see Item&nbsp;6.C. &#8220;Directors, Senior Management and Employees &#8211; Board Practices &#8211; Audit Committee&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 101 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Shareholder voting on equity compensation plans</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under NYSE standards, shareholders must be given the opportunity
to vote on equity-compensation plans and material revisions thereto, except for employment inducement awards, certain grants, plans
and amendments in the context of mergers and acquisitions, and certain specific types of plans. The Company does not currently
offer equity-based compensation to its directors, senior management or employees, and therefore does not have a policy on this
matter. For more information on directors&#8217; compensation see Item&nbsp;6.B. &#8220;Directors, Senior Management and Employees
&#8211; Compensation&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Shareholders&#8217; Rights Law requires the Company to adopt
a Compensation Policy setting forth the principles and guidelines for purposes of determining the compensation payable to the members
of the Company&#8217;s board of directors and the managing director or chief executive officer. Such Compensation Policy must be
submitted to the non-binding vote of the shareholders. In addition, the Shareholders&#8217; Rights Law provides that the Company
must prepare an annual report describing the compensation paid to directors and the chief executive officer for the performance
of their duties and submit such report to the shareholders for approval. The Compensation Policy and Compensation Report must be
available on the Company&#8217;s website. For more information on the Compensation Policy and the 2019 Compensation Report see
Item 6.B. &#8220;Directors, Senior Management and Employees &#8211; Compensation&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Disclosure of corporate governance guidelines</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NYSE-listed companies must adopt and disclose corporate governance
guidelines. Neither Luxembourg law nor the Company&#8217;s articles of association require the adoption or disclosure of corporate
governance guidelines. The Company&#8217;s board of directors follows corporate governance guidelines consistent with its equity
structure and holding company nature, but the Company has not codified them and therefore does not disclose them on its website.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Code of business conduct and ethics</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under NYSE standards, listed companies must adopt and disclose
a code of business conduct and ethics for directors, officers and employees, and promptly disclose any waivers of the code for
directors or executive officers. Neither Luxembourg law nor the Company&#8217;s articles of association require the adoption or
disclosure of such a code of conduct. The Company, however, has adopted a code of conduct that applies to all directors, officers
and employees that is posted on its website and which complies with the NYSE&#8217;s requirements, except that it does not require
the disclosure of waivers of the code for directors and officers. In addition, it has adopted a supplementary code of ethics for
senior financial officers, which is also posted on our website. See Item&nbsp;16.B. &#8220;Code of Ethics&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Chief Executive Officer certification</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A Chief Executive Officer of a U.S. company listed on the NYSE
must annually certify that he or she is not aware of any violation by the company of NYSE corporate governance standards. In accordance
with NYSE rules applicable to foreign private issuers, the Company&#8217;s chief executive officer is not required to provide the
NYSE with this annual compliance certification. However, in accordance with NYSE rules applicable to all listed companies, the
Company&#8217;s Chief Executive Officer must promptly notify the NYSE in writing after any of our executive officers becomes aware
of any noncompliance with any applicable provision of the NYSE&#8217;s corporate governance standards. In addition, the Company
must submit an executed written affirmation annually and an interim written affirmation upon the occurrence of any of the events
listed in the foreign private issuer interim written affirmation form by the NYSE.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_026"></a>Item&nbsp;16H.</b></td><td><b>Mine Safety Disclosure</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"></P>

<!-- Field: Page; Sequence: 102 -->
    <DIV STYLE="border-bottom: Black 4pt solid; margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"></P>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><a name="a_027"></a>PART III</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_028"></a>Item&nbsp;17.</b></td><td><b>Financial Statements</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have responded to Item&nbsp;18 in lieu of responding to this
Item.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_029"></a>Item&nbsp;18.</b></td><td><b>Financial Statements</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">See pages F-1 through F-64 of this annual report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 56.7pt"><b><a name="a_030"></a>Item&nbsp;19.</b></td><td><b>Exhibits</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="width: 7%">&nbsp;</td>
    <td style="width: 93%">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Exhibit<br>
        Number</b></p>
<!-- Field: Rule-Page --><div style="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page --></td>
    <td style="white-space: nowrap">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Description</b></p>
<!-- Field: Rule-Page --><div style="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page --></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap"><A HREF="http://www.sec.gov/Archives/edgar/data/1190723/000117184319002218/exh_11.htm"><FONT STYLE="font-size: 10pt">1.1</FONT></A></td>
    <td><A HREF="http://www.sec.gov/Archives/edgar/data/1190723/000117184319002218/exh_11.htm"><font style="font-size: 10pt">Updated and Consolidated Articles of Association of Tenaris S.A., dated as of May 2, 2018 *</font></A></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap"><font style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1190723/000119312513072991/d493009dex99a.htm" style="-sec-extract: exhibit">2.1</a></font></td>
    <td><font style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1190723/000119312513072991/d493009dex99a.htm" style="-sec-extract: exhibit">Amended and Restated Deposit Agreement entered into between Tenaris S.A. and Deutsche Bank Trust Company Americas **</a></font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap"><a href="exh_71.htm"><font style="font-size: 10pt">7.1</font></a></td>
    <td><a href="exh_71.htm"><font style="font-size: 10pt">Statement Explaining Calculation of Ratios</font></a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap"><a href="exh_72.htm"><font style="font-size: 10pt">7.2</font></a></td>
    <td><a href="exh_72.htm"><font style="font-size: 10pt">Statement Explaining Alternative Performance Measures</font></a></td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap"><a href="exh_81.htm"><font style="font-size: 10pt">8.1</font></a></td>
    <td><a href="exh_81.htm"><font style="font-size: 10pt">List of Subsidiaries of Tenaris S.A.</font></a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap"><a href="exh_121.htm"><font style="font-size: 10pt">12.1</font></a></td>
    <td><a href="exh_121.htm"><font style="font-size: 10pt">Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</font></a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap"><a href="exh_122.htm"><font style="font-size: 10pt">12.2</font></a></td>
    <td><a href="exh_122.htm"><font style="font-size: 10pt">Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</font></a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap"><a href="exh_131.htm"><font style="font-size: 10pt">13.1</font></a></td>
    <td><a href="exh_131.htm"><font style="font-size: 10pt">Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</font></a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap"><a href="exh_132.htm"><font style="font-size: 10pt">13.2</font></a></td>
    <td><a href="exh_132.htm"><font style="font-size: 10pt">Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</font></a></td></tr>
</table>
<!-- Field: Rule-Page --><div style="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><div style="font-size: 1pt; border-top: Black 0.75pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt">*</td><td>The Updated and Consolidated Articles of&nbsp;Association
is incorporated by reference&nbsp;to Exhibit 1.1 on Form 20-F filed by Tenaris&nbsp;S.A. on April 3, 2019 (File No. 001-31518).</td></tr></table>
<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt">**</td><td>The Amended and Restated
                                         Deposit Agreement is incorporated by reference to the Registration Statement on Form
                                         F-6 filed by Tenaris S.A. on February&nbsp;25, 2013 (File No.&nbsp;333-186825).</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</p>

<!-- Field: Page; Sequence: 103 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<p style="margin: 0"></p>


<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 16pt; text-align: center"><b>TENARIS S.A.</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 12pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 16pt; text-align: center"><b>CONSOLIDATED </b></p>

<p style="margin: 0pt 0; font-size: 16pt; text-align: center"><b>FINANCIAL STATEMENTS</b></p>

<p style="margin: 0pt 0; font-size: 22pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 22pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 22pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 22pt; text-align: center"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 16pt; font-weight: bold; text-align: center">For the years ended December 31, 2019, 2018 and
2017</p>

<p style="margin: 0pt 0; font-size: 12pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 12pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 12pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 12pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 12pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 12pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">26, Boulevard Royal &#8211; 4th Floor.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">L &#8211; 2449 Luxembourg</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>R.C.S. Luxembourg: B 85 203</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<!-- Field: Page; Sequence: 104 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><IMG SRC="pwc.jpg" ALT="" STYLE="height: 74; width: 100">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Report of Independent Registered Public
Accounting Firm </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the Board of Directors and shareholders
of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Tenaris S.A.</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Opinions on the Consolidated Financial
Statements and Internal Control over Financial Reporting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying consolidated
statements of financial position of Tenaris S.A. and its subsidiaries (the &ldquo;Company&rdquo;) as of 31 December 2019 and 2018,
and the related consolidated statements of income, comprehensive income, changes in equity and cash flows for each of the three
years in the period ended 31 December 2019, including the related notes (collectively referred to as the &ldquo;consolidated financial
statements&rdquo;). We also have audited the Company's internal control over financial reporting as of 31 December 2019, based
on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of
the Treadway Commission (COSO).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In our opinion, the consolidated financial
statements referred to above present fairly, in all material respects, the financial position of the Company as of 31 December
2019 and 2018, and the results of its operations and its cash flows for each of the three years in the period ended 31 December
2019 in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board and
International Financial Reporting Standards as adopted by the European Union. Also in our opinion, the Company maintained, in all
material respects, effective internal control over financial reporting as of 31 December 2019, based on criteria established in
Internal Control - Integrated Framework (2013) issued by the COSO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Basis for Opinions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company's management is responsible
for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment
of the effectiveness of internal control over financial reporting, included in Management's Report on Internal Control over Financial
Reporting appearing under Item 15. Our responsibility is to express opinions on the Company&rsquo;s consolidated financial statements
and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered
with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the
Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange
Commission and the PCAOB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">PricewaterhouseCoopers,
Soci&eacute;t&eacute; coop&eacute;rative, 2 rue Gerhard Mercator, B.P. 1443, L-1014 Luxembourg</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">T&nbsp;: +352 494848 1,
F&nbsp;: +352 494848 2900, www.pwc.lu</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">Cabinet de r&eacute;vision
agr&eacute;&eacute;. Expert-comptable (autorisation gouvernementale n&deg;10028256)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 8pt"><I>R.C.S.
Luxembourg B 65 477 - TVA LU25482518</I></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"><IMG SRC="pwc.jpg" ALT="" STYLE="height: 74; width: 100">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether
the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal
control over financial reporting was maintained in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our audits of the consolidated financial
statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements,
whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a
test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating
the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of
the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding
of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the
design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other
procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Definition and Limitations of Internal
Control over Financial Reporting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A company&rsquo;s internal control over
financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&rsquo;s
internal control over financial reporting includes those policies and procedures that (i)&nbsp;pertain to the maintenance of records
that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii)&nbsp;provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and (iii)&nbsp;provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use, or disposition of the company&rsquo;s assets that could have a material effect
on the financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because of its inherent limitations, internal
control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="width: 33%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"><IMG SRC="pwc.jpg" ALT="" STYLE="height: 74; width: 100">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Critical Audit Matters</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The critical audit matter communicated
below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required
to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated
financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical
audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not,
by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts
or disclosures to which it relates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Recoverability of long-lived assets
- U.S. seamless and welded tube businesses (Maverick and Bay City)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As described in Notes 2.G, 9 and 10 to
the consolidated financial statements, at 31&nbsp;December&nbsp;2019, the Company&rsquo;s goodwill balance was 1,320&nbsp;million&nbsp;USD
and the property, plant and equipment balance was 6,090&nbsp;million&nbsp;USD, of which 225&nbsp;million&nbsp;USD of goodwill and
a significant portion of property, plant and equipment relates to the U.S. seamless and welded tube businesses (Maverick and Bay
City). Goodwill is subject to at least an annual impairment test. Assets that are subject to amortisation are reviewed for impairment
by management whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Management
has determined the recoverable amount of these assets based on value in use. Value in use is calculated by discounting the estimated
cash flows over a five-year period based on forecasts approved by management. Management judgment is required to estimate discounted
future cash flows. The main key assumptions used by management in estimating the value in use of the U.S. seamless and welded tube
businesses (Maverick and Bay City) are discount rate, growth rate, oil and gas prices, average number of active oil and gas drilling
rigs and raw material costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The principal considerations for our determination
that performing procedures relating to the recoverability of goodwill and property, plant and equipment of the U.S. seamless and
welded tube businesses is a critical audit matter are (i) there was a high degree of auditor judgment and subjectivity in applying
procedures relating to the determination of recoverable amounts due to the significant amount of judgment by management when developing
the estimates; (ii) significant audit effort was required in evaluating the significant assumptions and future cash flows related
to the estimates, such as discount rate, growth rate, oil and gas prices, average number of active oil and gas drilling rigs and
raw material costs; and (iii) the audit effort involved the use of professionals with specialised skill and knowledge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="width: 33%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"><IMG SRC="pwc.jpg" ALT="" STYLE="height: 74; width: 100">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Addressing the matter involved performing
procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements.
These procedures included testing the effectiveness of controls relating to the recoverability of long-lived assets, including
controls over management&rsquo;s analysis of impairment indicators and controls over the review of assumptions used and discounted
cash flow calculations. These procedures also included testing management&rsquo;s process for determining the value in use. This
included evaluating the appropriateness of the valuation method, testing the accuracy and relevance of the underlying data used
in the model and evaluating the reasonableness of significant assumptions, including discount rate, growth rate, oil and gas prices,
average number of active oil and gas drilling rigs and raw materials costs. Evaluating the significant assumptions related to oil
and gas prices, average number of active oil and gas drilling rigs and raw material costs involved (i) evaluating whether the assumptions
used were reasonable considering current and past performance of the businesses and consistency with external market and industry
data and (ii) comparing actual cash flow results with previous forecasts. Professionals with specialised skill and knowledge were
used to assist in the evaluation of the Company&rsquo;s discounted cash flow model and certain significant assumptions, including
the discount rate and the growth rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; text-align: left">PricewaterhouseCoopers, Soci&eacute;t&eacute; coop&eacute;rative</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 49%">Luxembourg, 30 April 2020</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Represented by</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 20%">/s/ Fabrice Goffin</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fabrice Goffin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have served as the Company&rsquo;s auditor
since 2011.</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><FONT STYLE="font-size: 10pt">4</FONT></P>


<!-- Field: Page; Sequence: 105; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></DIV>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b>CONSOLIDATED INCOME STATEMENT</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="income"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of US dollars, unless otherwise stated)</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">Notes</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Continuing operations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 48%; font-size: 10pt; text-align: justify">Net sales</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: center">1</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">7,294,055</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">7,658,588</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">5,288,504</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Cost of sales</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">2</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,107,495</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,279,300</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(3,685,057</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Gross profit</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">2,186,560</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">2,379,288</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,603,447</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Selling, general and administrative expenses</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">3</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,365,974</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,509,976</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,270,016</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Other operating income</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">5</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">23,004</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">15,059</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,516</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other operating expenses</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">5</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(11,199</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(12,558</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,359</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Operating income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">832,391</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">871,813</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">334,588</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Finance income</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">6</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">47,997</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">39,856</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">47,605</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Finance cost</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">6</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(43,381</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(36,942</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(27,072</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Other financial results</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">6</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,667</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">34,386</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(43,550</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Income before equity in earnings of non-consolidated companies and income tax</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">851,674</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">909,113</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">311,571</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Equity in earnings of non-consolidated companies</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">12</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">82,036</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">193,994</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">116,140</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before income tax</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">933,710</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,103,107</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">427,711</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Income tax</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">7</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(202,452</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(229,207</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,136</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1.5pt">Income for continuing operations</td><td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td>
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">731,258</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">873,900</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">444,847</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Discontinued operations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Result for discontinued operations</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">29</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">91,542</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1.5pt">Income for the year</td><td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td>
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">731,258</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">873,900</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">536,389</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Attributable to:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Owners of the parent</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">742,686</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">876,063</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">544,737</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Non-controlling interests</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(11,428</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,163</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(8,348</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td>
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">731,258</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">873,900</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">536,389</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Earnings per share attributable to the owners of the parent during the year:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Weighted average number of ordinary shares (thousands)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,180,537</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,180,537</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,180,537</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Continuing operations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Basic and diluted earnings per share (U.S. dollars per share)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.63</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.74</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.38</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Basic and diluted earnings per ADS (U.S. dollars per ADS) (*)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1.26</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1.48</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.77</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Continuing and discontinued operations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Basic and diluted earnings per share (U.S. dollars per share)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.63</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.74</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.46</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Basic and diluted earnings per ADS (U.S. dollars per ADS) (*)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1.26</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1.48</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.92</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(*) Each ADS equals two shares.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b>CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="comprehensive-income"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left">Income for the year</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">731,258</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">873,900</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">536,389</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Items that may be subsequently reclassified to profit or loss:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Currency translation adjustment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(27,294</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(96,916</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">151,762</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Change in value of cash flow hedges and instruments at fair value</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,039</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(6,701</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,502</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Income tax relating to components of other comprehensive income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(707</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">34</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">23</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">From participation in non consolidated companies:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;- Currency translation adjustment (*)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,781</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,848</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(9,548</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;- Changes in the fair value of derivatives held as cash flow hedges and others</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">812</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(132</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">512</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(34,931</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(101,867</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">147,251</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Items that will not be reclassified to profit or loss:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Remeasurements of post employment benefit obligations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(9,272</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,963</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(8,635</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Income tax on items that will not be reclassified</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,545</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,932</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,338</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Remeasurements of post employment benefit obligations of non-consolidated companies</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,878</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(3,855</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(376</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(17,605</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,176</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(7,673</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Other comprehensive (loss) income for the year, net of tax</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(52,536</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(99,691</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">139,578</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: left">Total comprehensive income for the year</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">678,722</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">774,209</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">675,967</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Attributable to:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Owners of the parent</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">690,095</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">776,713</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">683,531</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Non-controlling interests</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(11,373</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,504</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(7,564</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">678,722</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">774,209</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">675,967</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Total comprehensive income for the year</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">attributable to Owners of the parent arises from</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Continuing operations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">690,095</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">776,713</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">591,989</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Discontinued operations</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">91,542</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">690,095</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">776,713</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">683,531</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>


<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(*) Since 2018 Tenaris recognizes its share over the effects on the adoption of IAS 29,
&#8220;Financial Reporting in Hyperinflationary Economies&#8221; by Ternium in other comprehensive income as a currency translation
adjustment.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The accompanying notes are an integral part of these Consolidated Financial Statements.</p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b>&nbsp;</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 106 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b>Consolidated STATEMENT OF FINANCIAL POSITION</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="balance-sheet"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At December 31, 2019</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At December 31, 2018</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt; font-weight: bold">Notes</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">ASSETS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-current assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; width: 40%; font-size: 10pt; text-align: left">Property, plant and equipment, net</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 11%; font-size: 10pt; font-weight: bold; text-align: center">9</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">6,090,017</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">&nbsp;</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">6,063,908</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">&nbsp;</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Intangible assets, net</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">10</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,561,559</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,465,965</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Right-of-use assets, net</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">11</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">233,126</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Investments in non-consolidated companies</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">12</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">879,965</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">805,568</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Other investments</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">18</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24,934</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">118,155</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Deferred tax assets</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">20</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">225,680</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">181,606</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt">Receivables, net</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">13</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">157,103</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">9,172,384</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">151,905</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">8,787,107</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Current assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Inventories, net</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">14</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,265,880</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,524,341</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Receivables and prepayments, net</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">15</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">104,575</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">155,885</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Current tax assets</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">16</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">167,388</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">121,332</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Trade receivables, net</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">17</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,348,160</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,737,366</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Derivative financial instruments</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">24</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">19,929</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,173</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Other investments</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">18</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">210,376</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">487,734</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt">Cash and cash equivalents</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">18</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,554,299</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">5,670,607</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">428,361</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">5,464,192</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">14,842,991</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">14,251,299</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold">EQUITY</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Capital and reserves attributable to owners of the parent</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,988,958</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,782,882</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Non-controlling interests</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">197,414</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">92,610</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total equity</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">12,186,372</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">11,875,492</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold">LIABILITIES</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-current liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt">Borrowings</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">19</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">40,880</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">29,187</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Lease liabilities</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">11</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">192,318</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Deferred tax liabilities</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">20</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">336,982</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">379,039</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Other liabilities</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">21 (i)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">251,383</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">213,129</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; padding-bottom: 1pt">Provisions</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">22 (ii)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">54,599</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">876,162</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">36,089</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">657,444</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Current liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt">Borrowings</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">19</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">781,272</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">509,820</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Lease liabilities</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">11</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">37,849</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Derivative financial instruments</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">24</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,814</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,978</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Current tax liabilities</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">16</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">127,625</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">250,233</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Other liabilities</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">21 (ii)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">176,264</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">165,693</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt">Provisions</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">23 (ii)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">17,017</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24,283</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Customer advances</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">82,729</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">62,683</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt">Trade payables</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">555,887</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">1,780,457</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">693,673</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">1,718,363</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,656,619</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,375,807</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total equity and liabilities</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">14,842,991</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">14,251,299</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Contingencies, commitments and restrictions on the distribution of profits are disclosed
in Note 25.</p>

<p style="margin: 0pt 0; font-size: 10pt">The accompanying notes are an integral part of these Consolidated Financial Statements.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 107 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b>Consolidated statement of changes in equity</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="stockholders-equity"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 8pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td colspan="26" style="border-top: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Attributable to owners of the parent</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 8pt; text-align: center">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 8pt; text-align: center">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 8pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Share Capital (1)</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Legal Reserves</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Share Premium</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Currency Translation Adjustment</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other Reserves (2)</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Retained Earnings (3)</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-controlling interests</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 46%; font-size: 8pt; font-weight: bold; text-align: justify">Balance at December 31, 2018</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">1,180,537</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">118,054</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">609,733</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">(919,248</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">(322,310</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">11,116,116</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">11,782,882</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">92,610</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">11,875,492</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Income (loss) for the year</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">742,686</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">742,686</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(11,428</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">731,258</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; text-align: left; padding-left: 5.7pt">Currency translation adjustment</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(27,217</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(27,217</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(77</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(27,294</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: left; padding-left: 5.7pt">Remeasurements of post employment benefit obligations, net of taxes</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(7,132</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(7,132</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(595</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(7,727</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; text-align: left; padding-left: 5.7pt">Change in value of instruments at fair value through other comprehensive income and cash flow hedges, net of taxes</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">1,605</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">1,605</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">727</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">2,332</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; padding-left: 5.7pt">From other comprehensive income of non-consolidated companies</td><td style="padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(10,781</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(9,066</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(19,847</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(19,847</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Other comprehensive (loss) income for the year</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(37,998</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(14,593</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(52,591</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">55</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(52,536</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; font-weight: bold; text-align: left">Total comprehensive income (loss) for the year</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(37,998</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(14,593</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">742,686</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">690,095</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(11,373</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">678,722</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; text-align: left">Acquisition and other changes in non-controlling interests (4)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">1</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">1</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">117,984</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">117,985</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: justify; padding-bottom: 1pt">Dividends paid in cash</td><td style="padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(484,020</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(484,020</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(1,807</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(485,827</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-size: 8pt; font-weight: bold; text-align: justify">Balance at December 31, 2019</td><td style="padding-bottom: 1.5pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">1,180,537</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">118,054</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">609,733</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">(957,246</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">(336,902</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">11,374,782</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">11,988,958</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">197,414</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">12,186,372</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(1) The Company has an authorized share capital of a single class of 2.5 billion shares
having a nominal value of $1.00 per share. As of December 31, 2019 there were 1,180,536,830 shares issued. All issued shares are
fully paid.</p>

<p style="margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-indent: -28.35pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(2) Other reserves include mainly the result of transactions with non-controlling interests
that do not result in a loss of control, the remeasurement of post-employment benefit obligations, the changes in value of cash
flow hedges and the changes in financial instruments measured at fair value through other comprehensive income.</p>

<p style="margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-indent: -28.35pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-indent: -28.35pt">(3) The restrictions to the distribution of profits
and payment of dividends according to Luxembourg Law are disclosed in Note 25.</p>

<p style="margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-indent: -28.35pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-indent: -28.35pt">(4) Related to Saudi Steel Pipe Company (&#8220;SSP&#8221;)
acquisition. See note 27.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The accompanying notes are an integral part of these Consolidated Financial Statements.</p>

<p style="margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-indent: -28.35pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 108 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b>CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
(Cont.) </b></font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="stockholders-equity"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 8pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td colspan="26" style="border-top: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Attributable to owners of the parent</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 8pt; text-align: center">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 8pt; text-align: center">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 8pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Share Capital (1)</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Legal Reserves</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Share Premium</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Currency Translation Adjustment</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other Reserves (2)</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Retained Earnings</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-controlling interests</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 46%; font-size: 8pt; font-weight: bold; text-align: justify">Balance at December 31, 2017</td><td style="width: 1%; font-size: 8pt">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; text-align: right">1,180,537</td><td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; text-align: right">118,054</td><td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; text-align: right">609,733</td><td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; text-align: right">(824,423</td><td style="width: 1%; font-size: 8pt; text-align: left">)</td><td style="width: 1%; font-size: 8pt">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; text-align: right">(320,569</td><td style="width: 1%; font-size: 8pt; text-align: left">)</td><td style="width: 1%; font-size: 8pt">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; text-align: right">10,718,853</td><td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">11,482,185</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; text-align: right">98,785</td><td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">11,580,970</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: justify; padding-bottom: 1pt">Changes in accounting policies (Section II AP)</td><td style="padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">2,786</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">5,220</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">8,006</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">12</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">8,018</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; font-weight: bold; text-align: justify">Balance at December 31, 2017 restated</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">1,180,537</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">118,054</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">609,733</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(824,423</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(317,783</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">10,724,073</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">11,490,191</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">98,797</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">11,588,988</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Income (loss) for the year</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">876,063</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">876,063</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(2,163</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">873,900</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; text-align: left; padding-left: 5.5pt">Currency translation adjustment</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(96,673</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(96,673</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(243</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(96,916</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: left; padding-left: 5.5pt">Remeasurements of post employment benefit obligations, net of taxes</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">6,135</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">6,135</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(104</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">6,031</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; text-align: left; padding-left: 5.5pt">Change in value of instruments at fair value through other comprehensive income and cash flow hedges, net of taxes</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(6,673</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(6,673</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">6</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(6,667</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; padding-left: 5.5pt">From other comprehensive income of non-consolidated companies</td><td style="padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">1,848</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(3,987</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(2,139</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(2,139</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Other comprehensive (loss) for the year</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(94,825</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(4,525</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(99,350</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(341</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(99,691</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; font-weight: bold; text-align: left">Total comprehensive income (loss) for the year</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(94,825</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(4,525</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">876,063</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">776,713</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(2,504</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">774,209</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; text-align: left">Acquisition and other changes in non-controlling interests</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(2</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(2</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(22</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(24</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: justify; padding-bottom: 1pt">Dividends paid in cash</td><td style="padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(484,020</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(484,020</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(3,661</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(487,681</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-size: 8pt; font-weight: bold; text-align: justify">Balance at December 31, 2018</td><td style="padding-bottom: 1.5pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">1,180,537</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">118,054</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">609,733</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">(919,248</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">(322,310</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">11,116,116</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">11,782,882</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">92,610</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">11,875,492</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="stockholders-equity"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 8pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td colspan="26" style="border-top: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Attributable to owners of the parent</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 8pt; text-align: center">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 8pt; text-align: center">&nbsp;</td><td style="border-top: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 8pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Share Capital (1)</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Legal Reserves</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Share Premium</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Currency Translation Adjustment</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other Reserves (2)</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Retained Earnings</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-controlling interests</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 46%; font-size: 8pt; font-weight: bold; text-align: justify">Balance at December 31, 2016</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">1,180,537</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">118,054</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">609,733</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">(965,955</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">(313,088</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">10,658,136</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">11,287,417</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">125,655</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 3%; font-size: 8pt; font-weight: bold; text-align: right">11,413,072</td><td style="width: 1%; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Income (loss) for the year</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">544,737</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">544,737</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(8,348</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">536,389</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; text-align: left; text-indent: 8pt">Currency translation adjustment</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">151,080</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">151,080</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">682</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">151,762</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: left; text-indent: 8pt">Remeasurements of post employment benefit obligations, net of taxes</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(7,423</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(7,423</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">126</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(7,297</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; text-align: left; text-indent: 8pt">Change in value of available for sale financial instruments and cash flow hedges net of tax</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">4,549</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">4,549</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(24</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">4,525</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 8pt">From other comprehensive income of non-consolidated companies</td><td style="padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(9,548</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">136</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(9,412</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(9,412</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Other comprehensive income (loss) for the year</td><td style="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">141,532</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(2,738</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">138,794</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">784</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">139,578</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; font-weight: bold; text-align: left">Total comprehensive income (loss) for the year</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">-</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">141,532</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(2,738</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">544,737</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">683,531</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(7,564</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">675,967</td><td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 8pt; text-align: left">Acquisition and other changes in non-controlling interests</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">(4,743</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">-</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(4,743</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt">&nbsp;</td>
    <td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; text-align: right">4,694</td><td style="font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 8pt; font-weight: bold; text-align: right">(49</td><td style="font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 8pt; text-align: justify; padding-bottom: 1pt">Dividends paid in cash</td><td style="padding-bottom: 1pt; font-size: 8pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(484,020</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(484,020</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(24,000</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">(508,020</td><td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-size: 8pt; font-weight: bold; text-align: justify">Balance at December 31, 2017</td><td style="padding-bottom: 1.5pt; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">1,180,537</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">118,054</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">609,733</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">(824,423</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">(320,569</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">10,718,853</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">11,482,185</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">98,785</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right">11,580,970</td><td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(1) The Company has an authorized share capital of a single class of 2.5 billion shares
having a nominal value of $1.00 per share. As of December 31, 2018 and 2017 there were 1,180,536,830 shares issued. All issued
shares are fully paid.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(2) Other reserves include mainly the result of transactions with non-controlling interests
that do not result in a loss of control, the remeasurement of post-employment benefit obligations and the changes in value of cash
flow hedges and in available for sale financial instruments.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The accompanying notes are an integral part of these Consolidated Financial Statements.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 109 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>CONSOLIDATED STATEMENT OF CASH FLOWS</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="cash-flows"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">Notes</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Cash flows from operating activities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 52%; font-size: 10pt; text-align: justify">Income for the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 11%; font-size: 10pt">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">731,258</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">873,900</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">536,389</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Adjustments for:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Depreciation and amortization</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">9, 10 &amp; 11</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">539,521</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">664,357</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">608,640</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Income tax accruals less payments</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">28(ii)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(193,417</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">58,494</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(193,989</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Equity in earnings of non-consolidated companies</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">12</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(82,036</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(193,994</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(116,140</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Interest accruals less payments, net</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">28(iii)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,381</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,151</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,550</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Changes in provisions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,739</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(8,396</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(17,245</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Income from the sale of Conduit business</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">29</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(89,694</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Changes in working capital</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">28(i)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">523,109</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(737,952</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(853,184</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Currency translation adjustment and others</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">11,146</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(51,758</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">91,648</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">Net cash provided by (used in) operating activities</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,527,939</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">610,802</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(22,025</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Cash flows from investing activities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Capital expenditures</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">9 &amp; 10</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(350,174</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(349,473</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(558,236</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Changes in advance to suppliers of property, plant and equipment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,820</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,851</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,077</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Proceeds from disposal of Conduit business</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">29</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">327,631</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Acquisition of subsidiaries, net of cash acquired</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">27</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(132,845</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,418</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Investment in companies under cost method</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,933</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,681</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Investment in non-consolidated companies</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">26</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(19,610</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Loan to non-consolidated companies</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">12 c</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(14,740</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,956</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Repayment of loan by non-consolidated companies</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">12 c</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">40,470</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,370</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,900</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Proceeds from disposal of property, plant and equipment and intangible assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,091</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,010</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,443</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Dividends received from non-consolidated companies</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">12</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28,974</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">25,722</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">22,971</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Changes in investments in securities</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">389,815</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">717,368</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">565,387</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">Net cash (used in) provided by investing activities</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(40,392</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">399,108</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">349,118</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Cash flows from financing activities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Dividends paid</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">8</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(484,020</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(484,020</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(484,020</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Dividends paid to non-controlling interest in subsidiaries</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,872</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,498</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(24,000</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Changes in non-controlling interests</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(24</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(49</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Payments of lease liabilities</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">11</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(41,530</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Proceeds from borrowings</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,332,716</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,019,302</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,196,781</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Repayments of borrowings</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,159,053</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,432,202</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,090,129</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash used in financing activities</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(353,758</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(900,442</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(401,417</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">Increase (decrease) in cash and cash equivalents</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,133,789</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">109,468</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(74,324</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Movement in cash and cash equivalents</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">At the beginning of the year</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">426,717</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">330,090</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">398,580</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Effect of exchange rate changes</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(6,231</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(12,841</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,834</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Increase (decrease) in cash and cash equivalents</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,133,789</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">109,468</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(74,324</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: justify">At December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: center">28(iv)</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,554,275</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">426,717</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">330,090</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>


<p style="margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: justify">Cash and cash equivalents</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; font-size: 10pt; text-align: justify">Cash and bank deposits</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 11%; font-size: 10pt">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">1,554,299</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">428,361</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">330,221</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Bank overdrafts</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">18</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(24</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,644</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(131</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td>
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,554,275</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">426,717</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">330,090</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: left">The accompanying notes are an integral part of these Consolidated Financial
Statements.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: left">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 110 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in">Index
TO the notes to the consolidated financial statements</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-transform: uppercase; text-align: justify; text-indent: 0in"><font style="font-weight: normal; text-transform: none">&nbsp;</font></p>

<table cellspacing="0" cellpadding="3" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: top; width: 11%; text-align: left"><font style="font-size: 10pt"><b>I</b></font></td>
    <td style="vertical-align: top; width: 31%"><font style="font-size: 10pt"><b>GENERAL INFORMATION</b></font></td>
    <td style="white-space: nowrap; vertical-align: top; width: 6%; text-align: left"><font style="font-size: 10pt"><b>IV</b></font></td>
    <td style="white-space: nowrap; vertical-align: bottom; width: 52%"><font style="font-size: 10pt"><b>OTHER NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</b></font></td></tr>
<tr>
    <td style="text-align: left; vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">1</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Segment information</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt"><b>II</b></font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt"><b>ACCOUNTING POLICIES (&#8220;AP&#8221;)</b></font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">2</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Cost of sales</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">A</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Basis of presentation</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">3</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Selling, general and administrative expenses</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">B</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Group accounting</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">4</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Labor costs (included in Cost of sales and in Selling, general and administrative expenses)</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">C</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Segment information</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">5</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Other operating income and expenses</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">D</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Foreign currency translation</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">6</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Financial results</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">E</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Property, plant and equipment</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">7</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Income tax</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">F</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Intangible assets</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">8</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Dividends distribution</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">G</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Impairment of non-financial assets</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">9</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Property, plant and equipment, net</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">H</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Other investments</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">10</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Intangible assets, net</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">I</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Inventories</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">11</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Right-of-use assets, net and lease liabilities</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">J</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Trade and other receivables</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">12</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Investments in non-consolidated companies</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">K</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Cash and cash equivalents</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">13</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Receivables - non current</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">L</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Equity</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">14</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Inventories, net</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">M</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Borrowings</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">15</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Receivables and prepayments, net</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">N</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Current and deferred income tax</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">16</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Current tax assets and liabilities</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">O</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Employee benefits</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">17</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Trade receivables, net</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">P</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Provisions </font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">18</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Cash and cash equivalents and other investments</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">Q</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Trade and other payables</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">19</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Borrowings</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">R</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Revenue recognition</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">20</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Deferred income tax</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">S</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Cost of sales and other selling expenses</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">21</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Other liabilities</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">T</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Earnings per share</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">22</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Non-current allowances and provisions</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">U</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Financial instruments</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">23</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Current allowances and provisions</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">V</font></td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Non-current assets held for sale and discontinued operations</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">24</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Derivative financial instruments</font></td></tr>
<tr>
    <td style="text-align: left; vertical-align: top">&nbsp;</td>
    <td style="white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; vertical-align: top; text-align: left"><font style="font-size: 10pt">25</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Contingencies, commitments and restrictions on the distribution of profits</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt"><b>III</b></font></td>
    <td style="white-space: nowrap; vertical-align: bottom"><font style="font-size: 10pt"><b>FINANCIAL RISK MANAGEMENT</b></font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">26</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Agreement to build a welded pipe plant in West Siberia</font></td></tr>
<tr>
    <td style="text-align: left; vertical-align: top">&nbsp;</td>
    <td style="white-space: nowrap; vertical-align: top">&nbsp;</td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">27</font></td>
    <td style="white-space: nowrap; vertical-align: top"><font style="font-size: 10pt">Business combinations</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">A</font></td>
    <td style="white-space: nowrap; vertical-align: bottom"><font style="font-size: 10pt">Financial risk factors</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">28</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Cash flow disclosures</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">B</font></td>
    <td style="white-space: nowrap; vertical-align: bottom"><font style="font-size: 10pt">Category of financial instruments and classification within the fair value hierarchy</font></td>
    <td style="white-space: nowrap; vertical-align: top; text-align: left"><font style="font-size: 10pt">29</font></td>
    <td style="white-space: nowrap; vertical-align: top"><font style="font-size: 10pt">Discontinued Operations</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">C</font></td>
    <td style="white-space: nowrap; vertical-align: bottom"><font style="font-size: 10pt">Fair value estimation</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">30</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Related party transactions</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: left"><font style="font-size: 10pt">D</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">Accounting for derivative financial instruments and hedging activities</font></td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">31</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Fees paid to the Company's principal accountant</font></td></tr>
<tr>
    <td style="text-align: left; white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">32</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Principal subsidiaries</font></td></tr>
<tr>
    <td style="text-align: left; white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">33</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Nationalization of Venezuelan subsidiaries</font></td></tr>
<tr>
    <td style="text-align: left; white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; vertical-align: top; text-align: left"><font style="font-size: 10pt">34</font></td>
    <td style="white-space: nowrap; vertical-align: top"><font style="font-size: 10pt">Delisting of Tenaris&#8217;s shares from the Buenos Aires stock exchange</font></td></tr>
<tr>
    <td style="text-align: left; white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; text-align: left"><font style="font-size: 10pt">35</font></td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Subsequent events</font></td></tr>
<tr>
    <td style="text-align: left; white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; vertical-align: bottom">&nbsp;</td>
    <td style="white-space: nowrap; text-align: left">36</td>
    <td style="white-space: nowrap"><font style="font-size: 10pt">Update as of April 29, 2020</font></td></tr>
</table>
<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 111 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b></b></font></p><div data-td-statement-type="note"><p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b>I. GENERAL INFORMATION</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris S.A. (the &#8220;Company&#8221;) was established as a public
limited liability company (<i>societ&#233; anonyme</i>) under the laws of the Grand-Duchy of Luxembourg on December 17, 2001.
The Company holds, either directly or indirectly, controlling interests in various subsidiaries in the steel pipe manufacturing
and distribution businesses. References in these Consolidated Financial Statements to &#8220;Tenaris&#8221; refer to the Company
and its consolidated subsidiaries. A list of the principal Company&#8217;s subsidiaries is included in Note 32 to these Consolidated
Financial Statements.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#8217;s shares trade on the Italian Stock Exchange and
the Mexican Stock Exchange; the Company&#8217;s American Depositary Securities (&#8220;ADS&#8221;) trade on the New York Stock
Exchange.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">These Consolidated Financial Statements were approved for issuance
by the Company&#8217;s Board of Directors on February 19, 2020.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b></b></font></p><div data-td-statement-type="note"><p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b>II. Accounting policies </b></font></p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="text-transform: uppercase"><b>&nbsp;</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The principal accounting policies applied in the preparation of
these Consolidated Financial Statements are set out below. These policies have been consistently applied to all the years presented,
unless otherwise stated.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basis of presentation</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Consolidated Financial Statements of Tenaris have been prepared
in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;), as issued by the International Accounting
Standards Board (&#8220;IASB&#8221;) and in accordance with IFRS as adopted by the European Union, under the historical cost convention,
as modified by the revaluation of certain financial assets and liabilities (including derivative instruments) and plan assets at
fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of U.S. dollars (&#8220;$&#8221;).</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Whenever necessary, certain comparative amounts have been reclassified
to conform to changes in presentation in the current year.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Following the sale of the steel electric conduit business in North
America, known as Republic Conduit, in January 2017, the results of the mentioned business are presented as discontinued operations
in accordance with IFRS 5, "Non-current Assets Held for Sale and Discontinued Operations". Consequently, all comparative
amounts related to discontinued operations within each line item of the Consolidated Income Statement are reclassified into discontinued
operations. The Consolidated Statement of Cash Flows includes the cash flows for continuing and discontinued operations. Cash flows
from discontinued operations and earnings per share are disclosed separately in Note 29, as well as additional information detailing
net assets of disposal group classified as held for sale and discontinued operations.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The preparation of Consolidated Financial Statements in conformity
with IFRS requires management to make certain accounting estimates and assumptions that might affect among others, the reported
amounts of assets, liabilities, contingent assets and liabilities, revenues and expenses. Actual results may differ from these
estimates. The main areas involving significant estimates or judgements are: Impairment of goodwill and long-lived assets (note
II.G); Income Taxes (note II.N); Loss contingencies (note II.P); Defined benefit obligations (note II.O), Business Combinations
(notes II.B, III.27); Useful lives of property, plant and equipment and other long-lived assets (notes II.E, II.F, II.G).</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(1)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Accounting pronouncements applicable as from January 1, 2019 and relevant for Tenaris</i></td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt">IFRS 16, &#8220;Leases&#8221;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has adopted IFRS 16 &#8220;Leases&#8221; from January 1,
2019. In accordance with the transition provisions in IFRS 16, Tenaris has adopted the new rules using the modified retrospective
approach, meaning that reclassifications of the adoption was recognized in the opening balance sheet as of January 1, 2019 and
that comparatives were not restated.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Upon adoption of IFRS 16, Tenaris recognized lease liabilities in
relation to leases which had previously been classified as &#8220;operating leases&#8221; under the principles of IAS 17 &#8220;Leases&#8221;.
These liabilities were measured at the present value of the remaining lease payments, discounted using the lessee&#8217;s incremental
borrowing rate as of January 1, 2019. The associated right-of-use assets were measured at the amount equal to the lease liability,
adjusted by the amount of any prepaid or accrued lease payments relating to that lease recognized in the balance sheet as of December
31, 2018. The difference between the amount of the lease liability recognized in the statement of financial position at the date
of initial application and the operating lease commitments under IAS 17 is related to leases with a duration lower than 12 months,
low value leases and/or leases with clauses related to variable payments.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 112 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basis of presentation (Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(1)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Accounting pronouncements applicable as from January 1, 2019 and relevant for Tenaris
(Cont.)</i></td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt">IFRS 16, &#8220;Leases&#8221; (Cont.)</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Leases are recognized as a right-of-use asset and a corresponding
liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the
liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic
rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the lease
term on a straight-line basis.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Lease liabilities include the net present value of i) fixed payments,
less any lease incentives receivable, ii) variable lease payments that are based on an index or a rate, iii) amounts expected to
be payable by the lessee under residual value guarantees, iv) the exercise price of a purchase option if the lessee is reasonably
certain to exercise that option, and v) payments of penalties for terminating the lease, if the lease term reflects the lessee
exercising that option.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The lease payments are discounted using the interest rate implicit
in the lease. If that rate cannot be determined, the lessee&#8217;s incremental borrowing rate is used, being the rate that the
lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with
similar terms and conditions.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Right-of-use assets are measured at cost comprising the amount of
the initial measurement of lease liability, any lease payments made at or before the commencement date less any lease incentives
received and any initial direct costs incurred by the lessee.</p>

<p style="margin: 0pt 0 0pt 28.05pt; font-size: 10pt; text-align: justify; text-indent: -28.05pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Payments associated with short-term leases and leases of low-value
assets are recognized on a straight-line basis as an expenses in profit or loss. Short-term leases are leases with a lease term
of 12 months or less. Low-value comprise mainly IT equipment and small items of office furniture.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In determining the lease term, management considers all facts and
circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension
options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended
(or not terminated).</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">IFRIC 23, "Uncertainty over Income Tax Treatments"</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has adopted IFRIC 23 &#8220;Uncertainty over Income Tax
Treatments&#8221; from January 1, 2019. This interpretation clarifies how the recognition and measurement requirements of IAS 12
&#8220;Income taxes&#8221; are applied where there is uncertainty over income tax treatments.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Other accounting pronouncements that became effective during 2019
have no material effect on the Company&#8217;s financial condition or results of operations.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>B&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group accounting</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(1)</td><td style="width: 5pt"></td><td style="text-align: justify">Subsidiaries and transactions with non-controlling interests</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Subsidiaries are all entities over which Tenaris has control. Tenaris
controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability
to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is
exercised by the Company and are no longer consolidated from the date control ceases.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The acquisition method of accounting is used to account for the
acquisition of subsidiaries by Tenaris. The cost of an acquisition is measured as the fair value of the assets transferred, equity
instruments issued and liabilities incurred or assumed at the date of exchange. Acquisition-related costs are expensed as incurred.
Identifiable assets acquired, liabilities and contingent liabilities assumed in a business combination are measured initially at
their fair values at the acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at
the non-controlling interest&#8217;s proportionate share of the acquiree&#8217;s net assets. The excess of the aggregate of the
consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of the identifiable
net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired,
the difference is recognized directly in the Consolidated Income Statement.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 113 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>B&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group accounting (Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(1)</td><td style="width: 5pt"></td><td style="text-align: justify">Subsidiaries and transactions with non-controlling interests (Cont.)</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Contingent consideration is classified either as equity or as a
financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair
value recognized in profit or loss.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">If the business combination is achieved in stages, the acquisition
date carrying value of the acquirer&#8217;s previously held equity interest in the acquiree is remeasured to fair value at the
acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Transactions with non-controlling interests that do not result in
a loss of control are accounted as transactions with equity owners of the Company. For purchases from non-controlling interests,
the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary
is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">When the Company ceases to have control or significant influence,
any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or
loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an
associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect
of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that
amounts previously recognized in other comprehensive income are reclassified to profit or loss.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Material intercompany transactions, balances and unrealized gains
(losses) on transactions between Tenaris subsidiaries have been eliminated in consolidation. However, since the functional currency
of some subsidiaries is its respective local currency, some financial gains (losses) arising from intercompany transactions are
generated. These are included in the Consolidated Income Statement under <i>Other financial results</i>.</p>

<p style="margin: 0pt 0; font-size: 10pt"><i>&nbsp;</i></p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(2)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Non-consolidated companies</i></td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Non-consolidated companies are all entities in which Tenaris has
significant influence but not control, generally accompanying a shareholding of between 20% and 50% of the voting rights. Investments
in non-consolidated companies (associated and joint ventures) are accounted for by the equity method of accounting and are initially
recognized at cost. The Company&#8217;s investment in non-consolidated companies includes goodwill identified in acquisition, net
of any accumulated impairment loss.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Under the equity method of accounting, the investments are initially
recognized at cost and adjusted thereafter to recognize Tenaris&#8217;s share of the post-acquisition profits or losses of the
investee in profit or loss, and Tenaris&#8217;s share of movements in other comprehensive income of the investee in other comprehensive
income. Dividends received or receivable from associates and joint ventures are recognized as a reduction in the carrying amount
of the investment.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">If material, unrealized results on transactions between Tenaris
and its non-consolidated companies are eliminated to the extent of Tenaris&#8217;s interest in the non-consolidated companies.
Unrealized losses are also eliminated unless the transaction provides evidence of an impairment indicator of the asset transferred.
Financial statements of non-consolidated companies have been adjusted where necessary to ensure consistency with IFRS.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal">The Company&#8217;s
pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income Statement under </font>Equity in
earnings (losses) of non-consolidated companies<font style="font-style: normal">. The Company&#8217;s pro-rata share of changes
in other comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.</font></p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 114 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>B&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group accounting (Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(2)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Non-consolidated companies (Cont.)</i></td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">Ternium</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal">At December
31, 2019, Tenaris holds 11.46% of Ternium S.A (&#8220;Ternium&#8221;)&#8217;s common stock. The following factors and circumstances
evidence that Tenaris has significant influence (as defined by IAS 28, &#8220;Investments in associates companies and Joint Ventures&#8221;)
over Ternium, and as a result the Company&#8217;s investment in Ternium has been accounted for under the equity method:</font></p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Both the Company and Ternium are under the indirect common control of San Faustin S.A.;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Four out of eight members of Ternium&#8217;s Board of Directors (including Ternium&#8217;s Chairman)
are also members of the Company&#8217;s Board of Directors;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Under the shareholders&#8217; agreement by and between the Company and Techint Holdings S.&#224;
r.l, a wholly owned subsidiary of San Faustin S.A. and Ternium&#8217;s main shareholder, dated January 9, 2006, Techint Holdings
S.&#224;.r.l, is required to take actions within its power to cause (a) one of the members of Ternium&#8217;s Board of Directors
to be nominated by the Company and (b) any director nominated by the Company to be only removed from Ternium&#8217;s Board of Directors
pursuant to previous written instructions of the Company.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Usiminas</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">At December 31, 2019, Tenaris holds through its Brazilian subsidiary
Confab Industrial S.A. (&#8220;Confab&#8221;), 5.2% of the shares with voting rights and 3.07% of Usinas Sider&#250;rgicas de
Minas Gerais S.A. (&#8220;Usiminas&#8221;) total share capital.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The acquisition of Usiminas shares was part of a larger transaction
performed <font style="color: black">on January 16, 2012,</font> pursuant to which Ternium, certain of its subsidiaries and Confab
joined Usiminas&#8217; existing control group through the acquisition of ordinary shares representing 27.7% of Usiminas&#8217;
total voting capital and 13.8% of Usiminas&#8217; total share capital. <font style="color: black">A shareholders&#8217; agreement
governed the rights and obligations of the several control group members.</font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In April and May 2016 Tenaris&#8217;s subsidiary Confab subscribed,
in the aggregate, to 1.3 million preferred shares (BRL1.28 per share) for a total amount of BRL1.6 million (approximately $0.5
million) and 11.5 million ordinary shares (BRL5.00 per share) for a total amount of BRL57.5 million (approximately $16.6 million).
The preferred and ordinary shares were issued on June 3, 2016 and July 19, 2016, respectively. Consequently as of December 31,
2019 Tenaris owns 36.5 million ordinary shares and 1.3 million preferred shares of Usiminas.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In 2014, a conflict arose between the T/T Group (comprising Confab
and Ternium&#8217;s subsidiaries Ternium Investments, Ternium Argentina and Prosid Investments) and Nippon Steel &amp; Sumitomo
Metal Corporation (&#8220;NSSMC&#8221;) with respect to the governance of Usiminas.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On February 8, 2018, Ternium Investments resolved the dispute with
NSSMC, and on April 10, 2018, the T/T Group entities (including Confab), NSSMC and Previd&#234;ncia Usiminas entered into a new
shareholders&#8217; agreement for Usiminas, amending and restating the previously existing shareholders agreement (the &#8220;New
SHA&#8221;). Usiminas&#8217; control group now holds, in the aggregate, 483.6 million ordinary shares bound to the New SHA, representing
approximately 68.6% of Usiminas&#8217; voting capital, with the T/T Group holding approximately 47.1% of the total shares held
by the control group (39.5% corresponding to the Ternium entities and the other 7.6% corresponding to Confab); NSSMC holding approximately
45.9% of the total shares held by the control group; and Previd&#234;ncia Usiminas holding the remaining 7% of the total shares
held by the control group.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The New SHA reflects the agreed-upon corporate governance rules
for Usiminas, including, among others, an alternation mechanism for the nomination of each of the chief executive officer and the
Chairman of the board of directors, as well as a mechanism for the nomination of other members of Usiminas&#8217; executive board.
The New SHA also incorporates an exit mechanism consisting of a buy-and-sell procedure, exercisable at any time during the term
of the New SHA after the fourth-and-a-half-year anniversary from the May 2018 election of Usiminas&#8217; executive board. Such
exit mechanism shall apply with respect to shares held by NSSMC and the T/T Group, and would allow either Ternium or NSSMC to purchase
all or a majority of the Usiminas shares held by the other shareholder.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 115 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>B&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group accounting (Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(2)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Non-consolidated companies (Cont.)</i></td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Usiminas (Cont.)</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In connection with the execution of the New SHA, Confab and the
Ternium entities amended and restated their separate shareholders&#8217; agreement governing their respective rights and obligations
as members of the T/T Group to include provisions relating to the exit mechanism and generally to conform such separate shareholders&#8217;
agreement to the other provisions of the New SHA. The rights of Confab and Ternium and its subsidiaries within the Ternium - Tenaris
Group are governed under such amended and restated separate shareholders agreement. Those circumstances evidence that Tenaris has
significant influence over Usiminas, and consequently, accounted it for under the equity method (as defined by IAS 28).</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Techgen</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Techgen S.A. de C.V. (&#8220;Techgen&#8221;) is a Mexican joint
venture company owned 48% by Ternium, 30% by Tecpetrol International S.A. and 22% by Tenaris. Techgen operates a natural gas-fired
combined electric power plant in the Pesquer&#237;a area of the State of Nuevo Leon, M&#233;xico. Tenaris, Ternium and Tecpetrol
International S.A. are parties to a shareholders&#8217; agreement relating to the governance of Techgen. In addition, the Company,
Ternium and Tecpetrol International S.A. are under the indirect common control of San Faustin S.A., consequently Tenaris accounted
it&#8217;s interest under the equity method (as defined by IAS 28).</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris carries its investment in Ternium, Usiminas and Techgen
under the equity method, with no additional goodwill or intangible assets recognized. Tenaris reviews investments in non-consolidated
companies for impairment whenever events or changes in circumstances indicate that the asset&#8217;s carrying amount may not be
recoverable. At December 31, 2019, 2018 and 2017, no impairment provisions were recorded in any of the aforementioned investments.
See Note 12.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>C&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment information</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company is organized in one major business segment, Tubes, which
is also the reportable operating segment.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Tubes segment includes the production and sale of both seamless
and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods
(OCTG) used in drilling operations, and for other industrial applications with production processes that consist in the transformation
of steel into tubular products. Business activities included in this segment are mainly dependent on the oil and gas industry worldwide,
as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling activities. Demand for steel pipe
products from the oil and gas industry has historically been volatile and depends primarily upon the number of oil and natural
gas wells being drilled, completed and reworked, and the depth and drilling conditions of these wells. Sales are generally made
to end users, with exports being done through a centrally managed global distribution network and domestic sales are made through
local subsidiaries. Corporate general and administrative expenses have been allocated to the Tubes segment.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Others includes all other business activities and operating segments
that are not required to be separately reported, including the production and selling of sucker rods, industrial equipment, coiled
tubing, utility conduits for buildings, heat exchangers, energy and raw materials that exceed internal requirements.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#8217;s Chief Operating Decision Maker (CEO) holds monthly
meetings with senior management, in which operating and financial performance information is reviewed, including financial information
that differs from IFRS principally as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">The use of direct cost methodology to calculate the inventories, while under IFRS it is at full
cost, including absorption of production overheads and depreciations;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">The use of costs based on previously internally defined cost estimates, while, under IFRS, costs
are calculated at historical cost;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Other timing differences, if any.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris presents its geographical information in five areas: North
America, South America, Europe, Middle East and Africa and Asia Pacific. For purposes of reporting geographical information, net
sales are allocated to geographical areas based on the customer&#8217;s location; allocation of assets, capital expenditures and
associated depreciations and amortizations are based on the geographical location of the assets.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: left"></p>

<!-- Field: Page; Sequence: 116 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: left">D&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign
currency translation</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(1)</td><td style="width: 5pt"></td><td style="text-align: justify">Functional and presentation currency</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">IAS 21 (revised), &#8220;The effects of changes in foreign exchange
rates&#8221; defines the functional currency as the currency of the primary economic environment in which an entity operates.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The functional and presentation currency of the Company is the U.S.
dollar. The U.S. dollar is the currency that best reflects the economic substance of the underlying events and circumstances relevant
to Tenaris&#8217;s global operations.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Except for the Brazilian and Italian subsidiaries whose functional
currencies are their local currencies, Tenaris determined that the functional currency of its other subsidiaries is the U.S. dollar,
based on the following principal considerations:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Sales are mainly negotiated, denominated and settled in U.S. dollars. If priced in a currency other
than the U.S. dollar, the sales price may consider exposure to fluctuation in the exchange rate versus the U.S. dollar;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Prices of their critical raw materials and inputs are priced and settled in U.S. dollars;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Transaction and operational environment and the cash flow of these operations have the U.S. dollar
as reference currency;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Significant level of integration of the local operations within Tenaris&#8217;s international global
distribution network;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Net financial assets and liabilities are mainly received and maintained in U.S. dollars;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">The exchange rate of certain legal currencies has long-been affected by recurring and severe economic
crises.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal"><b>&nbsp;</b></font></p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(2)</td><td style="width: 5pt"></td><td style="text-align: justify">Transactions in currencies other than the functional currency</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-weight: normal">Transactions in currencies other
than the functional currency are translated into the functional currency using the exchange rates prevailing at the date of the
transactions or valuation where items are re-measured. </font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-weight: normal">At the end of each reporting period:
(i) monetary items denominated in currencies other than the functional currency are translated using the closing rates; (ii) non-monetary
items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange
rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other
than the functional currency are translated using the exchange rates prevailing at the date when the fair value was determined.
</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-weight: normal">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-weight: normal">Foreign exchange gains and losses
resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities
denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included
in <i>Other financial results</i> in the Consolidated Income Statement, except when deferred in equity as qualifying cash flow
hedges and qualifying net investment hedges. </font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(3)</td><td style="width: 5pt"></td><td style="text-align: justify">Translation of financial information in currencies other than the functional currency</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Results of operations for subsidiaries whose functional currencies
are not the U.S. dollar are translated into U.S. dollars at the average exchange rates for each quarter of the year. Financial
statement positions are translated at the year-end exchange rates. Translation differences are recognized in a separate component
of equity as currency translation adjustments. In the case of a sale or other disposal of any of such subsidiaries, any accumulated
translation difference would be recognized in income as a gain or loss from the sale.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill and fair value adjustments arising from the acquisition
of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing rate.</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-indent: -0.5in"><b>&nbsp;&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 117 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>E&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Property, plant and equipment are recognized at historical acquisition
or construction cost less accumulated depreciation and impairment losses. Historical cost includes expenditure that is directly
attributable to the acquisition of the items. Property, plant and equipment acquired through acquisitions accounted for as business
combinations have been valued initially at the fair market value of the assets acquired.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Major overhaul and rebuilding expenditures are capitalized as property,
plant and equipment only when it is probable that future economic benefits associated with the item will flow to the Company and
the investment enhances the condition of assets beyond its original condition. The carrying amount of the replaced part is derecognized.
Maintenance expenses on manufacturing properties are recorded as cost of products sold in the year in which they are incurred.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Cost may also include transfers from equity of any gains or losses
on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowing costs that are attributable to the acquisition or construction
of certain capital assets are capitalized as part of the cost of the asset, in accordance with IAS 23(R), &#8220;Borrowing Costs&#8221;.
Assets for which borrowing costs are capitalized are those that require a substantial period of time to prepare for their intended
use.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The depreciation method is reviewed at each year end. Depreciation
is calculated using the straight-line method to depreciate the cost of each asset to its residual value over its estimated useful
life, as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: top; width: 4%; text-align: justify">&nbsp;</td>
    <td style="vertical-align: top; width: 56%; text-align: justify"><font style="font-size: 10pt">Land</font></td>
    <td style="vertical-align: bottom; width: 40%"><font style="font-size: 10pt">No Depreciation</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: justify">&nbsp;</td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Buildings and improvements	</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">30-50 years</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: justify">&nbsp;</td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Plant and production equipment	</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">10-40 years</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: justify">&nbsp;</td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Vehicles, furniture and fixtures, and other equipment</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">4-10 years</font></td></tr>
</table></div>
<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The assets&#8217; residual values and useful lives of significant
plant and production equipment are reviewed and adjusted, if appropriate, at each year-end date. An asset&#8217;s carrying amount
is written down immediately to its recoverable amount if the asset&#8217;s carrying amount is greater than its estimated recoverable
amount.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Management&#8217;s re-estimation of assets useful lives, performed
in accordance with IAS 16, &#8220;Property, Plant and Equipment&#8221;, did not materially affect depreciation expenses for 2019,
2018 and 2017.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris depreciates each significant part of an item of property,
plant and equipment for its different production facilities that (i) can be properly identified as an independent component with
a cost that is significant in relation to the total cost of the item, and (ii) has a useful operating life that is different from
another significant part of that same item of property, plant and equipment.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Gains and losses on disposals are determined by comparing the proceeds
with the carrying amount of assets and are recognized under <i>Other operating income </i>or <i>Other operating expenses</i> in
the Consolidated Income Statement.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(1)</td><td style="width: 5pt"></td><td style="text-align: justify">Goodwill</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal">Goodwill represents
the excess of the acquisition cost over the fair value of Tenaris&#8217;s share of net identifiable assets acquired as part of
business combinations determined mainly by independent valuations. Goodwill is tested at least annually for impairment and carried
at cost less accumulated impairment losses. Impairment losses on goodwill are not reversed. Goodwill is included in the Consolidated
Statement of Financial Position under </font>Intangible assets, net.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-weight: normal">For the purpose of impairment
testing, goodwill is allocated to a CGU or group of CGUs that are expected to benefit from the business combination which generated
the goodwill being tested. </font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information
systems projects</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Costs associated with maintaining computer software programs are
generally recognized as an expense as incurred. However, costs directly related to the development, acquisition and implementation
of information systems are recognized as intangible assets if it is probable that they have economic benefits exceeding one year
and comply with the recognition criteria of IAS 38, &#8220;Intangible Assets&#8221;.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 118 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets (Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(2)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Information systems projects (Cont.)</i></td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Information systems projects recognized as assets are amortized
using the straight-line method over their useful lives, generally not exceeding a period of 3 years. Amortization charges are mainly
classified as <i>Selling, general and administrative expenses</i> in the Consolidated Income Statement.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Management&#8217;s re-estimation of assets useful lives, performed
in accordance with IAS 38, did not materially affect amortization expenses for 2019, 2018 and 2017.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(3)</td><td style="width: 5pt"></td><td style="text-align: justify">Licenses, patents, trademarks and proprietary technology</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Licenses, patents, trademarks, and proprietary technology acquired
in a business combination are initially recognized at fair value at the acquisition date. Licenses, patents, proprietary technology
and those trademarks that have a finite useful life are carried at cost less accumulated amortization. Amortization is calculated
using the straight-line method to allocate the cost over their estimated useful lives, and does not exceed a period of 10 years.
Amortization charges are mainly classified as <i>Selling, general and administrative expenses</i> in the Consolidated Income Statement.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The balance of acquired trademarks that have indefinite useful lives
according to external appraisal amounts to $86.7 million at December 31, 2019, 2018 and 2017, and are included in Hydril CGU. Main
factors considered in the determination of the indefinite useful lives include the years that they have been in service and their
recognition among customers in the industry.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Management&#8217;s re-estimation of assets useful lives, performed
in accordance with IAS 38, did not materially affect amortization expenses for 2019, 2018 and 2017.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(4)</td><td style="width: 5pt"></td><td style="text-align: justify">Research and development</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Research expenditures as well as development costs that do not fulfill
the criteria for capitalization are recorded as <i>Cost of sales</i> in the Consolidated Income Statement as incurred. Research
and development expenditures included in <i>Cost of sales</i> for the years 2019, 2018 and 2017 totaled $61.1 million, $63.4 million
and $63.7 million, respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Capitalized costs were not material for the years 2019, 2018 and
2017.</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: -0.5in"><i>&nbsp;</i></p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(5)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Customer relationships</i></td>
</tr></table>

<p style="margin: 0pt 0.9pt 0pt 13.85pt; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">In accordance with IFRS 3, "Business Combinations"
and IAS 38, Tenaris has recognized the value of customer relationships separately from goodwill attributable to the acquisition
of Maverick and Hydril groups, as well as the more recent acquisition of SSP.</p>

<p style="margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">Customer relationships acquired in a business combination
are recognized at fair value at the acquisition date, have a finite useful life and are carried at cost less accumulated amortization.
Amortization is calculated using the straight line method over the initial expected useful life of approximately 14 years for Maverick,
10 years for Hydril and 9 years for SSP.</p>

<p style="margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">In 2018 the Company reviewed the useful life of
Maverick&#8217;s Tubes customer relationships and decided to reduce the remaining useful life from 2 years to zero, consequently
a higher amortization charge of approximately $109 million was recorded in the Consolidated Income Statement under <i>Selling,
general and administrative expenses</i> for the year ended December 31, 2018.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019 the net book value of SSP&#8217;s customer
relationship amounts to $72.9 million, with a residual useful life of 8 years. Maverick&#8217;s coiled tubing customer relationships
amounts to $9.9 million with a residual useful life of 1 year, while Hydril&#8217;s customer relationships is fully amortized.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></p>

<!-- Field: Page; Sequence: 119 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">G&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment
of non-financial assets</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Long-lived assets including identifiable intangible assets are reviewed
for impairment at the lowest level for which there are separately identifiable cash flows (cash generating units, or CGU). Most
of the Company&#8217;s principal subsidiaries that constitute a CGU have a single main production facility and, accordingly, each
of such subsidiary represents the lowest level of asset aggregation that generates largely independent cash inflows.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Assets that are subject to amortization are reviewed for impairment
whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Intangible assets with indefinite
useful lives, including goodwill, are subject to at least an annual impairment test.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In assessing whether there is any indication that a CGU may be impaired,
external and internal sources of information are analyzed. Material facts and circumstances specifically considered in the analysis
usually include the discount rate used in Tenaris&#8217;s cash flow projections and the business condition in terms of competitive
and economic factors, such as the cost of raw materials, oil and gas prices, capital expenditure programs for Tenaris&#8217;s customers
and the evolution of the rig count.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">An impairment loss is recognized for the amount by which the asset&#8217;s
carrying amount exceeds its recoverable amount. The recoverable amount is the higher between the asset&#8217;s value in use and
fair value less costs of disposal. Any impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the
following order:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: right">(a)</td><td style="width: 5pt"></td><td style="text-align: justify">first, to reduce the carrying amount of any goodwill allocated to the CGU; and</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: right">(b)</td><td style="width: 5pt"></td><td style="text-align: justify">then, to the other assets of the unit (group of units) pro-rata on the basis of the
carrying amount of each asset in the unit (group of units), considering not to reduce the carrying amount of the asset below the
highest of its fair value less cost of disposal, its value in use or zero.</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-weight: normal">For purposes of calculating the
fair value less costs of disposal, Tenaris uses the estimated value of future cash flows that a market participant could generate
from the corresponding CGU.</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Management judgment is required to estimate discounted future cash
flows. Actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived using
discounting techniques.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Non-financial assets other than goodwill that suffered an impairment
are reviewed for possible reversal at each reporting date.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris regularly conducts assessments of the carrying values of
its assets. The value-in-use was used to determine the recoverable value. Value-in-use is calculated by discounting the estimated
cash flows over a five-year period based on forecasts approved by management. For the subsequent years beyond the five-year period,
a terminal value is calculated based on perpetuity.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#8217;s main source of revenue is the sale of products and
services to the oil and gas industry and the level of such sales is sensitive to international oil and gas prices and their impact
on drilling activities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">For purposes of assessing key assumptions, Tenaris uses external
sources of information and management judgment based on past experience.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The main key assumptions used in estimating the value in use are
discount rate, growth rate and competitive and economic factors applied to determine Tenaris&#8217;s cash flow projections, such
as oil and gas prices, average number of active oil and gas drilling rigs (rig count) and raw material costs.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Management has determined the value of each of the key assumptions
as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">- Discount rate: based on the applicable weighted average cost of
capital (WACC), which is considered to be a good indicator of capital cost, taking into account the industry, country and size
of the business. For each CGU where assets are allocated, a specific WACC was determined taking into account the industry, country
and size of the business. In 2019, the main discount rates used were in a range between 8.2% and 15.9%.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">- Growth rate: considers the long-term average growth rate for the
oil and gas industry, the inflation impact on prices and costs, the higher demand to offset depletion of existing fields and the
Company&#8217;s expected market penetration. In 2019, a nominal growth rate of 2% was considered.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></p>

<!-- Field: Page; Sequence: 120 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">G&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment
of non-financial assets (Cont.)</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">- Oil and gas prices: based on industry analysts&#8217; reports
and&nbsp;management&#8217;s expectations of market development respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">- Rig count: based on information published by Baker Hughes and
management&#8217;s expectations.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">- Raw material costs: based on industry analysts&#8217; reports
and management&#8217;s expectations.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The main factors that could result in additional impairment charges
in future periods would be an increase in the discount rate or a decrease in growth rate used in the Company&#8217;s cash flow
projections, a deterioration of the business, competitive and economic factors, such as a decrease in oil and gas prices, and the
evolution of the rig count.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">For the CGU with significant amount of goodwill assigned in comparison
to the total amount of goodwill, Tenaris has determined that the CGU for which a reasonable possible change in the key assumption
would cause the CGUs&#8217; carrying amount to exceed its recoverable amount was OCTG USA.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In OCTG USA, the recoverable amount calculated based on value in
use exceeded carrying value by $108 million as of December 31, 2019. The following changes in key assumptions, at CGU OCTG &#8211;
USA, assuming unchanged values for the other assumptions, would cause the recoverable amount to be equal to the respective carrying
value as of the impairment tests:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 76%; border: Black 1pt solid; text-align: justify"><font style="font-size: 10pt">Increase in the discount rate</font></td>
    <td style="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><font style="font-size: 10pt">95 Bps</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><font style="font-size: 10pt">Decrease of the growth rate</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><font style="font-size: 10pt">-1.6 %</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><font style="font-size: 10pt">Decrease of the cash flow projections</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><font style="font-size: 10pt">-15.3 %</font></td></tr>
</table></div>
<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">No impairment charge was recorded in 2019, 2018 and 2017.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>H</b> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Other investments</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Other investments consist primarily of investments in financial
instruments and time deposits with a maturity of more than three months at the date of purchase.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Certain non-derivative financial assets that the Company held not
for trading have been categorized as financial assets &#8220;at fair value through other comprehensive income&#8221; (&#8220;FVOCI&#8221;).
They are carried at fair value and interest income from these financial assets is included in finance income using the effective
interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive
Income and transferred to the Consolidated Income Statement when the financial asset is sold. Exchange gains and losses and impairments
related to the financial assets are immediately recognized in the Consolidated Income Statement. FVOCI instruments with maturities
greater than 12 months after the balance sheet date are included in non-current assets.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Other investments in financial instruments and time deposits are
categorized as financial assets &#8220;at fair value through profit or loss&#8221; because such investments are held for trading
and their performance is evaluated on a fair value basis. The results of these investments are recognized in <i>Financial Results</i>
in the Consolidated Income Statement.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Purchases and sales of financial investments are recognized as of
their settlement date.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of quoted investments are generally based on current
bid prices. If the market for a financial investment is not active or the securities are not listed, Tenaris estimates the fair
value by using standard valuation techniques. See Section III Financial Risk Management.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;<b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></p>

<!-- Field: Page; Sequence: 121 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">I&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Inventories are stated at the lower between cost and net realizable
value. The cost of finished goods and goods in process is comprised of raw materials, direct labor, utilities, freights and other
direct costs and related production overhead costs, and it excludes borrowing costs. The allocation of fixed production costs,
including depreciation and amortization charges, is based on the normal level of production capacity. Inventories cost is mainly
based on the FIFO method. Tenaris estimates net realizable value of inventories by grouping, where applicable, similar or related
items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated costs of completion
and selling expenses. Goods in transit as of year-end are valued based on the supplier&#8217;s invoice cost.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris establishes an allowance for obsolete or slow-moving inventories
related to finished goods, goods in process, supplies and spare parts. For slow moving or obsolete finished products, an allowance
is established based on management&#8217;s analysis of product aging. An allowance for obsolete and slow-moving inventory of supplies
and spare parts is established based on management's analysis of such items to be used as intended and the consideration of potential
obsolescence due to technological changes, aging and consumption patterns.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">J&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade
and other receivables</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Trade and other receivables are recognized initially at fair value
that corresponds to the amount of consideration that is unconditional unless they contain significant financing components. The
Company holds trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently
at amortized cost using the effective interest method. Due to the short-term nature, their carrying amount is considered to be
the same as their fair value.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris applies the IFRS 9 &#8220;Financial Instruments&#8221; simplified
approach to measure expected credit losses, which uses a lifetime expected loss allowance for all trade receivables. To measure
the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due.
The expected loss rates are based on the payment profiles of sales over a period of three years and the corresponding historical
credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information
on macroeconomic factors affecting the ability of the customers to settle the receivables.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">K&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
and cash equivalents</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Cash and cash equivalents are comprised of cash at banks, liquidity
funds and short-term investments with a maturity of less than three months at the date of purchase which are readily convertible
to known amounts of cash. Assets recorded in cash and cash equivalents are carried at fair market value or at historical cost which
approximates fair market value.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In the Consolidated Statement of Financial Position, bank overdrafts
are included in <i>Borrowings</i> in current liabilities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">For the purposes of the Consolidated Statement of Cash Flows, <i>Cash
and cash equivalents</i> includes overdrafts.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">L&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(1)</td><td style="width: 5pt"></td><td style="text-align: justify">Equity components</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Consolidated Statement of Changes in Equity includes:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">The value of share capital, legal reserve, share premium and other distributable reserves calculated
in accordance with Luxembourg law;</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify"><font style="font-size: 10pt">The currency translation adjustment, other reserves, retained earnings
and non-controlling interest calculated in accordance with IFRS.</font></td></tr></table>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(2)</td><td style="width: 5pt"></td><td style="text-align: justify">Share capital</td>
</tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has an authorized share capital of a single class of
2.5 billion shares having a nominal value of $1.00 per share. Total ordinary shares issued and outstanding as of December 31, 2019,
2018 and 2017 are 1,180,536,830 with a par value of $1.00 per share with one vote each. All issued shares are fully paid.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></p>

<!-- Field: Page; Sequence: 122 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">L&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity
(Cont.)</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(3)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Dividends distribution by the Company to shareholders</i></td>
</tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Dividends distributions are recorded in the Company&#8217;s financial
statements when Company&#8217;s shareholders have the right to receive the payment, or when interim dividends are approved by the
Board of Directors in accordance with the by-laws of the Company.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Dividends may be paid by the Company to the extent that it has distributable
retained earnings, calculated in accordance with Luxembourg law. See Note 25 (iii).</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">M&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowings</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowings are recognized initially at fair value net of transaction
costs incurred and subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and
the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">N&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current
and Deferred income tax</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The income tax expense or credit for the period is the tax payable
on the current period&#8217;s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes
in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. Tax is recognized in the
Consolidated Income Statement, except for tax items recognized in other comprehensive income or directly in equity.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The current income tax charge is calculated on the basis of the
tax laws enacted or substantively enacted at the reporting date in the countries where the Company&#8217;s subsidiaries operate
and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which
applicable tax regulations are subject to interpretation and establishes provisions when appropriate.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred income tax is recognized applying the liability method
on temporary differences arising between the tax basis of assets and liabilities and their carrying amounts in the financial statements.
The principal temporary differences arise from the effect of currency translation on depreciable fixed assets and inventories,
depreciation on property, plant and equipment, valuation of inventories, provisions for pension plans and fair value adjustments
of assets acquired in business combinations. Deferred tax assets are also recognized for net operating loss carry-forwards. Deferred
tax assets and liabilities are measured at the tax rates that are expected to apply in the time period when the asset is realized
or the liability is settled, based on tax laws that have been enacted or substantively enacted at the reporting date.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets are recognized to the extent that it is probable
that future taxable income will be available against which the temporary differences can be utilized. At the end of each reporting
period, Tenaris reassesses unrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax asset to
the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax liabilities and assets are not recognized for temporary
differences between the carrying amount and tax basis of investments in foreign operations where the company is able to control
the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in the foreseeable
future.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets and liabilities are offset when there is a legally
enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority.
Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either
to settle on a net basis, or to realize the asset and settle the liability simultaneously.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets and liabilities are re-measured if tax rates
change. These amounts are charged or credited to the Consolidated Income Statement or to the item <i>Other comprehensive income
for the year </i>in the Consolidated Statement of Comprehensive Income, depending on the account to which the original amount was
charged or credited.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></p>

<!-- Field: Page; Sequence: 123 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">O&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee
benefits</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(1)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Short-term obligations</i></td>
</tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Liabilities for wages and salaries are recognized in respect of
employees&#8217; services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities
are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(2)</td><td style="width: 5pt"></td><td style="text-align: justify">Post employment benefits</td>
</tr></table>

<p style="margin: 0pt 0 0pt 22.5pt; font-size: 10pt; font-style: italic; text-align: justify; text-indent: -22.5pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has defined benefit and defined contribution plans.
A defined benefit plan is a pension plan that defines an amount of pension benefit that an employee will receive on retirement,
usually dependent on one or more factors such as age, years of service and compensation.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The liability recognized in the statement of financial position
in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting
period less the fair value of plan assets, if any. The defined benefit obligation is calculated annually (at year end) by independent
actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting
the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in
which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Remeasurement gains and losses arising from experience adjustments
and changes in actuarial assumptions are charged or credited to equity in <i>Other comprehensive income</i> in the period in which
they arise. Past-service costs are recognized immediately in the Income Statement.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">For defined benefit plans, net interest income/expense is calculated
based on the surplus or deficit derived by the difference between the defined benefit obligations less fair value of plan assets.
For defined contribution plans, the Company pays contributions to publicly or privately administered pension insurance plans on
a mandatory, contractual or voluntary basis. The Company has no further payment obligations once the contributions have been paid.
The contributions are recognized as employee benefit expenses when they are due. Prepaid contributions are recognized as an asset
to the extent that a cash refund or a reduction in the future payments is available.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris sponsors funded and unfunded defined benefit pension plans
in certain subsidiaries. The most significant are:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">An unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed
to provide certain benefits to those officers (additional to those contemplated under applicable labor laws) in case of termination
of the employment relationship due to certain specified events, including retirement. This unfunded plan provides defined benefits
based on years of service and final average salary. As of December 31, 2019 the outstanding liability for this plan amounts to
$45.3 million.</td></tr></table>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Employees&#8217; service rescission indemnity: the cost of this obligation is charged to the Consolidated
Income Statement over the expected service lives of employees. This provision is primarily related to the liability accrued for
employees at Tenaris&#8217;s Italian subsidiary. As from January 1, 2007 as a consequence of a change in an Italian law, employees
were entitled to make contributions to external funds, thus, Tenaris&#8217;s Italian subsidiary pays every year the required contribution
to the funds with no further obligation. As a result, the plan changed from a defined benefit plan to a defined contribution plan
effective from that date, but only limited to the contributions of 2007 onwards. As of December 31, 2019 the outstanding liability
for this plan amounts to $17.3 million.</td></tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Funded retirement benefit plans held in Canada for salary and hourly employees hired prior to a
certain date based on years of service and, in the case of salaried employees, final average salary. Plan assets consist primarily
of investments in equities and money market funds. Both plans were replaced for defined contribution plans. Effective June 2016
the salary plan was frozen for the purposes of credited service as well as determination of final average pay. As of December 31,
2019 the outstanding liability for this plan amounts to $9.8 million.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 17.85pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Funded retirement benefit plan held in the US for the benefit of some employees hired prior a certain
date, frozen for the purposes of credited service as well as determination of final average pay for the retirement benefit calculation.
Plan assets consist primarily of investments in equities and money market funds. Additionally, an unfunded postretirement health
and life plan is present that offers limited medical and life insurance benefits to the retirees, hired before a certain date.
As of December 31, 2019 the outstanding liability for these plans amounts to $13.4 million.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></p>

<!-- Field: Page; Sequence: 124 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">O&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee
benefits (Cont.)</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(3)</td><td style="width: 5pt"></td><td style="text-align: justify">Other long term benefits</td>
</tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">During 2007, Tenaris launched an employee retention and long term
incentive program (the &#8220;Program&#8221;) applicable to certain senior officers and employees of the Company, who will be granted
a number of Units throughout the duration of the Program. The value of each of these Units is based on Tenaris&#8217;s shareholders&#8217;
equity (excluding non-controlling interest). Also, the beneficiaries of the Program are entitled to receive cash amounts based
on (i) the amount of dividend payments made by Tenaris to its shareholders, and (ii) the number of Units held by each beneficiary
to the Program. Until 2017 units were vested ratably over a period of four years and were mandatorily redeemed by the Company ten
years after grant date, with the option of an early redemption at seven years after the grant date. Since 2018 units are vested
ratably over the same period and are mandatorily redeemed by the Company seven years after grant date. The payment of the benefit
is tied to the book value of the shares, and not to their market value. Tenaris valued this long-term incentive program as a long
term benefit plan as classified in IAS 19, &#8220;Employee Benefits&#8221;.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019 and 2018, the outstanding liability corresponding
to the Program amounts to $99.0 million and $91.2 million, respectively. The total value of the units granted (vested and unvested)
to date under the program, considering the number of units and the book value per share as of December 31, 2019 and 2018, is $119.9
million and $106 million, respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(4)</td><td style="width: 5pt"></td><td style="text-align: left">Termination benefits</td>
</tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Termination benefits are payable when employment is terminated by
Tenaris before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. Tenaris
recognizes termination benefits at the earlier of the following dates: (a) when it can no longer withdraw the offer of those benefits;
and (b) when the costs for a restructuring that is within the scope of IAS 37 and involves the payment of terminations benefits.
In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees
expected to accept the offer.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(5)</td><td style="width: 5pt"></td><td style="text-align: justify">Other compensation obligations</td>
</tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Employee entitlements to annual leave, long-service leave, sick
leave and other bonuses and compensations obligations are accrued as earned.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 66.55pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Compensation to employees in the event of dismissal is charged to
income in the year in which it becomes payable.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">P&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provisions</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris is subject to various claims, lawsuits and other legal proceedings,
including customer claims, in which a third party is seeking payment for alleged damages, reimbursement for losses or indemnity.
Tenaris&#8217;s potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with
certainty. Management periodically reviews the status of each significant matter and assesses potential financial exposure. If,
as a result of past events, a potential loss from a claim or proceeding is considered probable and the amount can be reliably estimated,
a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information
available to management as of the date of preparation of the financial statements, and take into consideration Tenaris&#8217;s
litigation and settlement strategies. These estimates are primarily constructed with the assistance of legal counsel. As the scope
of liabilities become better defined, there may be changes in the estimates of future costs which could have a material adverse
effect on its results of operations, financial condition and cash flows.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">If Tenaris expects to be reimbursed for an accrued expense, as would
be the case for an expense or loss covered under an insurance contract, and reimbursement is considered virtually certain, the
expected reimbursement is recognized as a receivable.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">This note should be read in conjunction with Note 25.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">Q &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade
and other payables</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Trade and other payables are recognized initially at fair value,
generally the nominal invoice amount and subsequently measured at amortized cost. They are presented as current liabilities unless
payment is not due within twelve months after the reporting period. Due to the short-term nature their carrying amounts are considered
to be the same as their fair value.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></p>

<!-- Field: Page; Sequence: 125 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">R&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue
recognition</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue comprises the fair value of the consideration received or
receivable for the sale of goods and rendering of services in the ordinary course of Tenaris&#8217;s activities. The revenue recognized
by the Company is measured at the transaction price of the consideration received or receivable to which the Company is entitled
to, reduced by estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value
to be realized and after eliminating sales within the group.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue is recognized at a point in time or over time from sales
when control has been transferred and there is no unfulfilled performance obligation that could affect the acceptance of the product
by the customer. The control is transferred upon delivery. Delivery occurs when the products have been shipped to the specific
location, the risks of obsolescence and loss have been transferred and either the customer has accepted the product in accordance
with the sales contract, the acceptance provisions have lapsed or the Company has objective evidence that all criteria for acceptance
have been satisfied, including all performance obligations. These conditions are determined and analyzed on a contract by contract
basis to ensure that all performance obligations are fulfilled; in particular, Tenaris verifies customer acceptance of the goods,
the satisfaction of delivery terms and any other applicable condition.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-weight: normal; color: black">For bill and hold
transactions</font> <font style="font-weight: normal">revenue is recognized only to the extent that (a) the reason for the bill
and hold arrangement must be substantive (for example, the customer has requested the arrangement); (b) the products have been
specifically identified and are ready for delivery; (c) the Company does not have the ability to use the product or to direct it
to another customer; (d) the usual payment terms apply.</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#8217;s contracts with customers do not provide any
material variable consideration, other than discounts, rebates and right of return. Discounts and rebates are recognized based
on the most likely value and rights of return are based on expected value considering past experience and contract conditions.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-weight: normal">Where the contracts include multiple
performance obligations, the transaction price is allocated to each performance obligation based on the stand-alone selling prices.
Where these are not directly observable, they are estimated based on the expected cost plus margin.</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">There are no judgements applied by management that significantly
affect the determination of timing of satisfaction of performance obligations, nor the transaction price and amounts allocated
to different performance obligations.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris provides services related to goods sold, which represent
a non-material portion of sales revenue and include:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Pipe Management Services. </i>This comprises mainly preparation
of the pipes ready to be run, delivery to the customer, storage services and rig return.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Field Services. </i>Comprises&nbsp;field technical support and
running assistance.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">These services are rendered in connection to the sales of goods
and are attached to contracts with customers for the sale of goods. A significant portion of service revenue is recognized in the
same period as the goods sold. There are no distinct uncertainties in the revenues and cash flows of the goods sold and services
rendered as they are included in the same contract, have the same counterparty and are subject to the same conditions.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue from providing services is recognized over time in the accounting
period in which the services are rendered. The following inputs and outputs methods are applied to recognize revenue considering
the nature of service:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Storage services</i>, the Company provides storage services in
owned or third-party warehouses, subject to a variable fee to be invoiced. This fee is determined based on the time that the customer
maintains the material in the warehouse and the amount of the material stored. In the majority of cases, to quantify the amount
to be invoiced in any given month, the monthly average fee of storage per ton is multiplied by the monthly average stock stored
(in tons).</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Freights, </i>the Company recognized the revenue on a pro rata
bases considering the units delivered and time elapsed.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Field services</i>, the revenue is recognized considering outputs
method, in particular surveys of service completion provided by the customer.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></p>

<!-- Field: Page; Sequence: 126 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">R&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue
recognition (Cont.)</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company does not expect to have any contracts where the period
between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence,
considering that the contracts do not include any significant financing component, the Company does not adjust any of the transaction
prices for the time value of money. For this reason, the Company is also applying the practical expedient not to disclose details
on transaction prices allocated to the remaining performance obligations as of the end of the reporting period.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris only provides standard quality warranties assuring that
the goods sold will function as expected or are fit for their intended purpose, with no incremental service to the customer. Accordingly,
warranties do not constitute a separate performance obligation.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Other revenues earned by Tenaris are recognized on the following basis:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Interest income: on the effective yield basis.</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Dividend income from investments in other companies: when Tenaris&#8217;s right to receive payment
is established.</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Construction contracts revenues is recognized in accordance with the stage of the project completion.</td></tr></table>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0">S&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost
of sales and other selling expenses</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Cost of sales and other selling expenses are recognized in the Consolidated
Income Statement on the accrual basis of accounting.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Commissions, freights and other selling expenses, including shipping
and handling costs, are recorded in <i>Selling, general and administrative expenses </i>in the Consolidated Income Statement.</p>

<p style="font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0">T&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings
per share</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Earnings per share are calculated by dividing the income attributable
to owners of the parent by the daily weighted average number of common shares outstanding during the year.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">There are no dilutive potential ordinary shares.</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">U&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
instruments</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Non derivative financial instruments comprise investments in financial
debt instruments and equity, time deposits, trade and other receivables, cash and cash equivalents, borrowings and trade and other
payables.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company classifies its financial instruments according to the
following measurement categories:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-family: Symbol">&#183;</font></td><td style="text-align: justify">those to be measured subsequently at fair value (either through OCI or through profit or loss),
and</td></tr></table>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 14.2pt"><font style="font-family: Symbol">&#183;</font></td><td style="text-align: justify">those to be measured at amortised cost</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The classification depends on the Company&#8217;s business model
for managing the financial assets and contractual terms of the cash flows.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets are recognized on their settlement date. Financial
assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and
the Company has transferred substantially all the risks and rewards of ownership.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">At initial recognition, the Company measures a financial asset at
its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly
attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit
or loss are expenses in profit or loss.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Subsequent measurement of debt instruments depends on the Company&#8217;s
business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into
which the Company classifies its debt instruments:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 127 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">U&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
instruments (Cont.)</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Amortized Cost: Assets that are held for collection of contractual
cash flows where those cash flows represent solely payments of principal and interest. Interest income from these financial assets
is included in finance income using the effective interest rate method.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Exchange gains and losses and impairments related to the financial
assets are immediately recognized in the Consolidated Income Statement.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Fair value through other comprehensive income: Assets that are held
for collection of contractual cash flows and for selling the financial assets, where the assets&#8217; cash flows represent solely
payments of principal and interest. Interest income from these financial assets is included in finance income using the effective
interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive
Income and transferred to the Consolidated Income Statement when the financial asset is sold.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Fair value through profit and loss (&#8220;FVPL&#8221;): Assets
that do not meet the criteria for amortized cost or FVOCI. Changes in fair value of financial instruments at FVPL are immediately
recognized in the Consolidated Income Statement.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">For equity instruments, these are subsequently measured at fair
value.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Accounting for derivative financial instruments and hedging activities
is included within the Section III, Financial Risk Management.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">V&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-current
assets held for sale and discontinued operations</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Non-current assets (or disposal groups) are classified as held for
sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a
sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell,
except for assets such as deferred tax assets, assets arising from employee benefits and financial assets that are carried at fair
value.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">An impairment loss is recognized for any initial or subsequent write-down
of the asset (or disposal group) to fair value less costs to sell. A gain is recognized for any subsequent increase in fair value
less costs to sell of an asset (or disposal group), but not in excess of any cumulative impairment loss previously recognized.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Non-current assets (including those that are part of a disposal
group) are not depreciated or amortized while they are classified as held for sale. Interest and other expenses attributable to
the liabilities of a disposal group classified as held for sale continue to be recognized.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Non-current assets classified as held for sale and the assets of
a disposal group classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities
of a disposal group classified as held for sale are presented separately from other liabilities in the balance sheet.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">A discontinued operation is a component of the entity that has been
disposed of or is classified as held for sale and that represents a separate line of business or geographical area of operations,
is part of a single coordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively
with a view to resale. The results of discontinued operations are presented separately in the Consolidated Income Statement. See
Note 29.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 128 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"></p><div data-td-statement-type="note"><p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in">iii.
Financial risk management</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The multinational nature of Tenaris&#8217;s operations and customer
base exposes the Company to a variety of risks, mainly related to market risks (including the effects of changes in foreign currency
exchange rates and interest rates), credit risk and capital market risk. In order to manage the volatility related to these exposures,
management evaluates exposures on a consolidated basis, taking advantage of exposure netting. The Company or its subsidiaries may
then enter into various derivative transactions in order to prevent potential adverse impacts on Tenaris&#8217;s financial performance.
Such derivative transactions are executed in accordance with internal policies and hedging practices.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>A. Financial Risk Factors</b></p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">Capital Risk Management</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris seeks to maintain a low debt to total equity ratio considering
the industry and the markets where it operates. The year-end ratio of debt to total equity (where &#8220;debt&#8221; comprises
financial borrowings and &#8220;total equity&#8221; is the sum of financial borrowings and equity) is 0.06 as of December 31, 2019
and 0.04 as of December 31, 2018. The Company does not have to comply with regulatory capital adequacy requirements.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"><i>&nbsp;</i></p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(ii)</td><td style="width: 5pt"></td><td style="text-align: justify">Foreign exchange risk</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris manufactures and sells its products in a number of countries
throughout the world and consequently is exposed to foreign exchange rate risk. Since the Company&#8217;s functional currency is
the U.S. dollar the purpose of Tenaris&#8217;s foreign currency hedging program is mainly to reduce the risk caused by changes
in the exchange rates of other currencies against the U.S. dollar.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#8217;s exposure to currency fluctuations is reviewed on
a periodic consolidated basis. A number of derivative transactions are performed in order to achieve an efficient coverage in the
absence of operative or natural hedges. Almost all of these transactions are forward exchange rates contracts. See Note 24.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris does not&nbsp;enter into derivative financial instruments
for trading or other speculative purposes, other than non-material investments in structured products.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In the case of subsidiaries with functional currencies other than
the U.S. dollar, the results of hedging activities, reported in accordance with IFRS, may not reflect entirely the management&#8217;s
assessment of its foreign exchange risk hedging program. Intercompany balances between Tenaris&#8217;s subsidiaries may generate
financial gains (losses) to the extent that functional currencies differ.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The value of Tenaris&#8217;s financial assets and liabilities is
subject to changes arising from the variation of foreign currency exchange rates. The following table provides a breakdown of Tenaris&#8217;s
main financial assets and liabilities (including foreign exchange derivative contracts) which impact the Company&#8217;s profit
and loss as of December 31, 2019 and 2018:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">All amounts Long / (Short) in thousands of U.S. dollars</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center">As of December 31,</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; border-bottom: Black 1pt solid">Currency Exposure / Functional currency</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 70%; font-size: 10pt; text-align: left">Argentine Peso / U.S. Dollar</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">(95,811</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">(186,867</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Euro / U.S. Dollar</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(103,518</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(175,419</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Saudi Arabian Riyal / U. S. Dollar</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(107,582</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The main relevant exposures correspond to:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Argentine Peso / U.S. dollar</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify">As of December 31, 2019 and 2018 consisting primarily
of Argentine Peso-denominated financial, trade, social and fiscal payables at certain Argentine subsidiaries whose functional currency
is the U.S. dollar. A change of 1% in the ARS/USD exchange rate would have generated a pre-tax gain / loss of $1.0 million and
$1.9 million as of December 31, 2019 and 2018 respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<!-- Field: Page; Sequence: 129 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>A. Financial Risk Factors (Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(ii)</td><td style="width: 5pt"></td><td style="text-align: justify">Foreign exchange risk (Cont.)</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Euro / U.S. dollar</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">As of December 31, 2019 and 2018, consisting primarily
of Euro-denominated intercompany liabilities at certain subsidiaries whose functional currency is the U.S. dollar. A change of
1% in the EUR/USD exchange rate would have generated a pre-tax gain / loss of $1.0 million and $1.3 million as of December 31,
2019 and 2018, respectively, which would have been to a large extent offset by changes in currency translation adjustment included
in Tenaris&#8217;s net equity position.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Saudi Arabian Riyal / U. S. Dollar</td></tr></table>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">As of December 31, 2019 consisting primarily of Saudi
Arabian Riyal-denominated financial and trade payables. The Saudi Arabian Riyal is tied to the dollar.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Considering the balances held as of December 31, 2019 on financial
assets and liabilities exposed to foreign exchange rate fluctuations, Tenaris estimates that the impact of a simultaneous 1% appreciation
/ depreciation movement in the levels of foreign currencies exchange rates relative to the U.S. dollar, would be a pre-tax gain
/ loss of $4.6 million (including a loss / gain of $4.9 million due to foreign exchange derivative contracts), which would be partially
offset by changes to Tenaris&#8217;s net equity position of $0.6 million. For balances held as of December 31, 2018, a simultaneous
1% favorable / unfavorable movement in the foreign currencies exchange rates relative to the U.S. dollar, would have generated
a pre-tax gain / loss of $3.6 million (including a loss / gain of $2.3 million due to foreign exchange derivative contracts), which
would have been partially offset by changes to Tenaris&#8217;s net equity position of $1.9 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company entered into foreign exchange derivative contracts to
mitigate the exposure to fluctuations in exchange rates.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left"><i>(iii)</i></td><td style="width: 5pt"></td><td style="text-align: justify"><i>Interest rate risk</i></td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris is subject to interest rate risk on its investment portfolio
and its debt. The Company uses a mix of variable and fixed rate debt in combination with its investment portfolio strategy. The
Company may choose to enter into foreign exchange derivative contracts and / or interest rate swaps to mitigate the exposure to
changes in the interest rates.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The following table summarizes the proportions of variable-rate
and fixed-rate debt as of each year end.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="15" style="font-size: 10pt; font-weight: bold; text-align: center">As of December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount in thousands of U.S. dollars</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount in thousands of U.S. dollars</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 40%; font-size: 10pt; text-align: left">Fixed rate (*)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">768,002</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">93</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">520,471</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">97</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Variable rate</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">54,150</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">7</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">18,536</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">3</td><td style="font-size: 10pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Total</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">822,152</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">539,007</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">(*) Out of the $768 million fixed rate borrowings, $728 million
are short-term.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company estimates that, if market interest rates applicable
to Tenaris&#8217;s borrowings had been 100 basis points higher, then the additional pre-tax loss would have been $7.7 million in
2019 and $8.2 million in 2018.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(iv)</td><td style="width: 5pt"></td><td style="text-align: justify">Credit risk</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Credit risk arises from cash and cash equivalents, deposits with
banks and financial institutions, as well as credit exposures to customers, including outstanding receivables and committed transactions.
The Company also actively monitors the creditworthiness of its treasury, derivative and insurance counterparties in order to minimize
its credit risk.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">There is no significant concentration of credit risk from customers.
No single customer comprised more than 10% of Tenaris&#8217;s net sales in 2019, 2018 and 2017.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#8217;s credit policies related to sales of products and
services are designed to identify customers with acceptable credit history and to allow Tenaris to require the use of credit insurance,
letters of credit and other instruments designed to minimize credit risks <font style="color: black">whenever deemed necessary.
Tenaris maintains allowances for impairment for potential credit losses.</font> See Section II J.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<!-- Field: Page; Sequence: 130 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>A. Financial Risk Factors (Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(iv)</td><td style="width: 5pt"></td><td style="text-align: justify">Credit risk (Cont.)</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019 and 2018 trade receivables amount to $1,348.2
million and $1,737.4 million respectively. Trade receivables have guarantees under credit insurance of $178.7 million and $181.7
million, letter of credit and other bank guarantees of $55.2 million and $62.3 million, and other guarantees of $0.6 million and
$42.2 million as of December 31, 2019 and 2018 respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019 and 2018, overdue trade receivables amounted
to $242.7 million and $368.4 million, respectively. As of December 31, 2019 and 2018, overdue guaranteed trade receivables amounted
to $28.7 million and $31.5 million; and the allowance for doubtful accounts amounted to $48.8 million and $66.5 million respectively.
Both the allowance for doubtful accounts and the existing guarantees are sufficient to cover doubtful trade receivables.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(v)</td><td style="width: 5pt"></td><td style="text-align: justify">Counterparty risk</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has investment guidelines with specific parameters to limit
issuer risk on marketable securities. Counterparties for derivatives and cash transactions are limited to high credit quality financial
institutions, normally investment grade.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal">Approximately
96% of Tenaris&#8217;s liquid financial assets correspond to Investment Grade-rated instruments as of December 31, 2019, in comparison
with approximately 83% as of December 31, 2018.</font></p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(vi)</td><td style="width: 5pt"></td><td style="text-align: justify">Liquidity risk</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris financing strategy aims to maintain adequate financial resources
and access to additional liquidity. During 2019, Tenaris has counted on cash flows from operations as well as additional bank financing
to fund its transactions.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Management maintains sufficient cash and marketable securities to
finance normal operations and believes that Tenaris also has appropriate access to market for short-term working capital needs.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Liquid financial assets as a whole (comprising cash and cash equivalents
and other investments) were 12% of total assets at the end of 2019 compared to 7% at the end of 2018.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has a conservative approach to the management of its liquidity,
which consists of i)&nbsp;cash and cash equivalents (cash in banks, liquidity funds and investments&nbsp;with a&nbsp;maturity of
less than three months&nbsp;at the date of purchase), and ii) Other Investments (fixed income securities, time deposits, and fund
investments).</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris holds primarily investments in money market funds and variable
or fixed-rate securities from investment grade issuers. As of December 31, 2019 and 2018, Tenaris does not have direct exposure
to financial instruments issued by European sovereign counterparties.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris holds its investments primarily in U.S. dollars. As of December
31, 2019 and 2018, U.S. dollar denominated liquid assets represented approximately 95% of total liquid financial assets.</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 35pt; text-align: left">(vii)</td><td style="width: 5pt"></td><td style="text-align: justify">Commodity price risk</td>
</tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal">In the ordinary
course of its operations, Tenaris purchases commodities and raw materials that are subject to price volatility caused by supply
conditions, political and economic variables and other factors. As a consequence, Tenaris is exposed to risk resulting from fluctuations
in the prices of these commodities and raw materials. Tenaris fixes the prices of such raw materials and commodities for short-term
periods, typically not in excess of one year, in general Tenaris does not hedge this risk. </font></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 131 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>B. Category of financial instruments and classification within the fair value hierarchy</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As mentioned in note II.A, the Company classifies its financial
instruments in the following measurement categories: amortized cost, fair value through other comprehensive income and fair value
through profit and loss.For financial instruments that are measured in the statement of financial position at fair value, IFRS
13, &#8220;Fair value measurement&#8221; requires a disclosure of fair value measurements by level according to the following fair
value measurement hierarchy:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Level 1 - Quoted prices (unadjusted) in active markets for identical
assets or liabilities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Level 2 - Inputs other than quoted prices included within Level
1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Level 3 - Inputs for the asset or liability that are not based on
observable market data (that is, unobservable inputs).</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt">The following tables present the financial instruments by category and levels as of December
31, 2019 and 2018.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Measurement Categories</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At Fair Value</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">December 31, 2019</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Carrying <br>amount</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized Cost</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVOCI</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVPL</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Cash and cash equivalents</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,554,299</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">387,602</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,166,697</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,166,697</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other investments</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">210,376</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">65,874</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">144,502</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">134,990</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">9,512</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Fixed income (time-deposit, zero coupon bonds, commercial papers)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">65,874</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">65,874</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Certificates of deposits</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">20,637</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">20,637</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Commercial papers</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">4,993</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,993</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Other notes</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">40,244</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">40,244</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Bonds and other fixed income</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">144,502</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">144,502</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">134,990</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">9,512</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">U.S. government securities</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">10,211</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,211</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,211</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Non - U.S. government securities</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">28,637</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28,637</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">19,125</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,512</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Corporates securities</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">105,654</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">105,654</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">105,654</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Derivative financial instruments</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">19,929</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">19,929</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">19,929</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other Investments Non-current</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">24,934</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">18,012</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">6,922</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">18,012</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">6,922</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Bonds and other fixed income</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">18,012</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,012</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,012</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Other investments</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">6,922</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,922</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,922</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade receivables</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,348,160</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,348,160</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Receivables C and NC (*)</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">261,678</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">93,239</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">48,659</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">48,659</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Other receivables</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">141,898</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">93,239</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">48,659</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">48,659</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Other receivables (non-financial)</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">119,780</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td><td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,894,875</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">211,173</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,193,548</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,319,699</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">29,441</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">55,581</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold">Liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Borrowings C and NC</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">822,152</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">822,152</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade payables</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">555,887</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">555,887</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Finance Lease Liabilities C and NC</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">230,167</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">230,167</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Derivative financial instruments</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,814</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,814</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,814</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td><td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,608,206</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,814</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,814</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>



<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(*) Includes balances related to interest in our Venezuelan companies. See Note 33.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 132 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>B. Category of financial instruments and classification within the fair value hierarchy
(Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Measurement Categories</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At Fair Value</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">December 31, 2018</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Carrying amount</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized Cost</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVOCI</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVPL</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Cash and cash equivalents</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">428,361</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">268,163</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">160,198</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">160,198</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other investments</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">487,734</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">300,410</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">166,094</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">21,230</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">168,165</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">19,159</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Fixed income (time-deposit, zero coupon bonds, commercial papers)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">300,410</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">300,410</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Certificates of deposits</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">198,912</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">198,912</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Commercial papers</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">9,932</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,932</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Other notes</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">91,566</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">91,566</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Bonds and other fixed income</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">187,324</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">166,094</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">21,230</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">168,165</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">19,159</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">U.S. government securities</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">1,077</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,077</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,077</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Non - U.S. government securities</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">24,912</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24,912</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24,912</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Corporates securities</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">142,176</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">140,105</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,071</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">142,176</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Structured notes</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">19,159</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">19,159</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">19,159</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Derivative financial instruments</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">9,173</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">9,173</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">9,173</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other Investments Non-current</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">118,155</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">113,830</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">4,326</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">113,830</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">4,326</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Bonds and other fixed income</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">113,830</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">113,830</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">113,830</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Other investments</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">4,326</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,326</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,326</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade receivables</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,737,366</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">1,737,366</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Receivables C and NC (*)</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">307,790</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">139,474</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">48,711</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">52</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">48,659</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Other receivables</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">188,185</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">139,474</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">48,711</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">52</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">48,659</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Other receivables (non-financial)</td><td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right">119,605</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td><td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">2,445,413</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">328,635</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">194,927</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">442,193</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">28,384</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">52,985</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Borrowings C and NC</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">539,007</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">539,007</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade payables</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">693,673</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">693,673</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Derivative financial instruments</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">11,978</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">11,978</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">11,978</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td><td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,232,680</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">11,978</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">11,978</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>



<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(*) Includes balances related to interest in our Venezuelan companies. See Note 33.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">There were no transfers between levels during the year.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The fair value of financial instruments traded in active markets
is based on quoted market prices at the reporting date. A market is regarded as active if quoted prices are readily and regularly
available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual
and regularly occurring market transactions on an arm&#8217;s length basis. The quoted market price used for financial assets held
by Tenaris is the current bid price. These instruments are included in Level 1 and comprise primarily corporate and sovereign debt
securities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The fair value of financial instruments that are not traded in an
active market (such as certain debt securities, certificates of deposits with original maturity of more than three months, forward
and interest rate derivative instruments) is determined by using valuation techniques which maximize the use of observable market
data when available and rely as little as possible on entity specific estimates. If all significant inputs required to value an
instrument are observable, the instrument is included in Level 2. Tenaris values its assets and liabilities included in this level
using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied volatilities obtained
from market contributors as of the valuation date.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">If one or more of the significant inputs are not based on observable
market data, the instruments are included in Level 3. Tenaris values its assets and liabilities in this level using observable
market inputs and management assumptions which reflect the Company&#8217;s best estimate on how market participants would price
the asset or liability at measurement date. Main balances included in this level correspond to the Company interest in Venezuelan
companies. See Note 33.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 133 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b>B. Category of financial instruments and classification within the fair value hierarchy
(Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The following table presents the changes in Level 3 assets and liabilities:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Assets / Liabilities</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 70%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">52,985</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">26,409</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Addition / (Decrease)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,933</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">26,768</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Currency translation adjustment and others</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(337</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(192</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: left">At the end of the year</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">55,581</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">52,985</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>C. Fair value estimation </b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets or liabilities classified at fair value through
profit or loss are measured under the framework established by the IASB accounting guidance for fair value measurements and disclosures.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of quoted investments are generally based on current
bid prices. If the market for a financial asset is not active or no market is available, fair values are established using standard
valuation techniques.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The fair value of all outstanding derivatives is determined using
specific pricing models that include inputs that are observable in the market or can be derived from or corroborated by observable
data. The fair value of forward foreign exchange contracts is calculated as the net present value of the estimated future cash
flows in each currency, based on observable yield curves, converted into U.S. dollars at the spot rate of the valuation date.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowings are comprised primarily of fixed rate debt and variable
rate debt with a short term portion where interest has already been fixed. They are classified under other financial liabilities
and measured at their amortized cost. Tenaris estimates that the fair value of its main financial liabilities is approximately
100.0% of its carrying amount including interests accrued in 2019 as compared with 99.3% in 2018. Fair values were calculated using
standard valuation techniques for floating rate instruments and comparable market rates for discounting flows.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The carrying amount of investments valuated at amortized cost approximates
its fair value.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>D. Accounting for derivative financial instruments and hedging
activities</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Derivative financial instruments are initially recognized in the
statement of financial position at fair value through profit and loss on each date a derivative contract is entered into and are
subsequently remeasured at fair value. Specific tools are used for calculation of each instrument&#8217;s fair value and these
tools are tested for consistency on a monthly basis. Market rates are used for all pricing operations. These include exchange rates,
deposit rates and other discount rates matching the nature of each underlying risk.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As a general rule, Tenaris recognizes the full amount related to
the change in fair value of derivative financial instruments in <i>Financial Results</i> in the Consolidated Income Statement.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris designates certain derivatives and non derivative financial
liabilities (leasing liabilities denominated in Japanese Yen) as hedges of particular risks associated with recognized assets or
liabilities or highly probable forecast transactions. These transactions are classified as cash flow hedges. The effective portion
of the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in equity. Similarly the effective
portion of the foreign exchange result on the designated leasing liability is recognized in equity Amounts accumulated in equity
are then recognized in the income statement in the same period as the offsetting losses and gains on the hedged item. The gain
or loss relating to the ineffective portion is recognized immediately in the income statement. The fair value of Tenaris&#8217;s
derivative financial instruments (assets or liabilities) continues to be reflected in the statement of financial position. The
lease liability will be recognized on the balance sheet at each period end at the exchange rate as of the end of each month. The
full fair value of a hedging derivative and the leasing liability is classified as a current or non-current asset or liability
according to its expiry date.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">For transactions designated and qualifying for hedge accounting,
Tenaris documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as
its risk management objectives and strategy for undertaking various hedge transactions. Tenaris also documents its assessment on
an ongoing basis, of whether the hedging instrument are highly effective in offsetting changes in the fair value or cash flow of
hedged items. At December 31, 2019 and 2018, the effective portion of designated cash flow hedges which is included in <i>Other
Reserves</i> in equity amounts to <font style="background-color: white">$2.6</font> million credit and $0.9 million debit respectively.
See Note 24.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of various derivative instruments used for hedging
purposes and the movements of the hedging reserve included within <i>Other Reserves</i> in equity are disclosed in Note 24.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold"></p>

<!-- Field: Page; Sequence: 134 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold">IV. OTHER NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="font-weight: normal">(In the notes all amounts are shown in thousands of
U.S. dollars, unless otherwise stated) </font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><b>1</b></td><td><b>Segment information</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As mentioned in section II. AP &#8211; C, the Segment Information
is disclosed as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>Reportable operating segments </b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">(All amounts in millions of U.S. dollars)</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Tubes</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Other</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Continuing operations</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Discontinued operations</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - Net Sales</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,870</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">424</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">7,294</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Management view - operating income</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">857</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">73</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">929</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Difference in cost of sales</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(105</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(102</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Differences in depreciation and amortization</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Differences in selling, general and administrative expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Differences in other operating income (expenses), net</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - operating income</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">755</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">77</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">832</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Financial income (expense), net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">19</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before equity in earnings of non-consolidated companies and income tax</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">852</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Equity in earnings of non-consolidated companies</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">82</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Income before income tax</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">934</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-style: italic; text-align: left">Capital expenditures</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">338</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">12</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">350</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-style: italic; text-align: left">Depreciation and amortization</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">523</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">17</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">540</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
</table></div>


<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Tubes</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Other</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Continuing operations</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Discontinued operations</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - Net Sales</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">7,233</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">426</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">7,659</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Management view - operating income</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">702</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">81</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">783</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Difference in cost of sales</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">112</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">119</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Differences in depreciation and amortization</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(34</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(34</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Differences in selling, general and administrative expenses</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - operating income</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">777</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">95</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">872</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Financial income (expense), net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">37</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before equity in earnings of non-consolidated companies and income tax</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">909</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Equity in earnings of non-consolidated companies</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">194</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Income before income tax</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,103</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-style: italic; text-align: left">Capital expenditures</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">346</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">3</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">349</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-style: italic; text-align: left">Depreciation and amortization</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">645</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">19</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">664</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">Year ended December 31, 2017</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Tubes</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Other</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Continuing operations</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Discontinued operations</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - Net Sales</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">4,966</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">323</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,289</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">12</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Management view - operating income</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">115</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">48</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">163</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">3</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Difference in cost of sales</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">164</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">165</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Differences in depreciation and amortization</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Differences in selling, general and administrative expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">14</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(6</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Differences in other operating income (expenses), net</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - operating income</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">292</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">43</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">335</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Financial income (expense), net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(23</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before equity in earnings of non-consolidated companies and income tax</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">312</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">2</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Equity in earnings of non-consolidated companies</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">116</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Income before income tax</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">428</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-style: italic; text-align: left">Capital expenditures</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">550</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">8</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">558</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-style: italic; text-align: left">Depreciation and amortization</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">594</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-style: italic; text-align: right">15</td><td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">609</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right">-</td><td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Transactions between segments, which were eliminated in consolidation,
are mainly related to sales of scrap, energy, surplus raw materials and others from the Other segment to the Tubes segment for
$36, $52 and $53 million in 2019, 2018 and 2017, respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">There are no material differences between total reportable segments&#8217;
revenues and the entity&#8217;s revenue under IFRS.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The main differences between operating income under IFRS view and
the management view are mainly related to the cost of goods sold and other timing differences. See Section II. A. C. Segment Information.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In addition to the amounts reconciled above, the main differences
in net income arise from the impact of functional currencies on financial result, deferred income taxes as well as the result of
investment in non-consolidated companies and changes on the valuation of inventories according to cost estimation internally defined.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<!-- Field: Page; Sequence: 135 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt">1</td><td>Segment information (Cont.)</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Geographical information</b></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">North America</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">South America</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Europe</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Middle East &amp; Africa</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Asia Pacific</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unallocated (*)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total continuing operations</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total discontinued operations</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 44%; font-size: 10pt; text-align: justify">Net sales</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 4%; font-size: 10pt; text-align: right">3,429,911</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 4%; font-size: 10pt; text-align: right">1,391,288</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 4%; font-size: 10pt; text-align: right">738,880</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 4%; font-size: 10pt; text-align: right">1,382,172</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 4%; font-size: 10pt; text-align: right">351,804</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 4%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 4%; font-size: 10pt; text-align: right">7,294,055</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 4%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Total assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,885,120</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,227,044</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,282,775</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">958,424</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">609,663</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">879,965</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">14,842,991</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Trade receivables</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">612,809</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">176,173</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">149,321</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">319,406</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">90,451</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,348,160</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Property, plant and equipment, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,771,570</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,129,260</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">816,721</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">254,858</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">117,608</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,090,017</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Capital expenditures</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">169,390</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">113,999</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">55,169</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,578</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,038</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">350,174</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">276,046</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">105,308</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">82,400</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">42,520</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">33,247</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">539,521</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Net sales</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,611,509</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,462,044</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">724,733</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,559,988</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">300,314</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,658,588</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Total assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,971,311</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,489,522</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,913,589</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">588,746</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">482,563</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">805,568</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">14,251,299</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Trade receivables</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">791,190</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">280,801</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">215,202</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">383,358</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">66,815</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,737,366</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Property, plant and equipment, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,859,060</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,133,113</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">848,178</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">94,040</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">129,517</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,063,908</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Capital expenditures</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">196,220</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">68,603</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">77,467</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,047</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,136</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">349,473</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">441,705</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">108,558</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">82,769</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,389</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">20,936</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">664,357</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2017</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Net sales</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,451,357</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,142,142</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">545,777</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">937,439</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">211,789</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,288,504</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,899</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Total assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,925,520</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,975,599</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,002,658</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">391,029</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">441,546</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">661,866</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">14,398,218</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Trade receivables</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">582,204</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">234,877</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">214,944</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">135,524</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">46,511</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,214,060</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Property, plant and equipment, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,914,229</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,190,145</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">878,788</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">102,481</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">143,500</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,229,143</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Capital expenditures</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">430,142</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">58,949</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">57,285</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,562</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,153</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">558,091</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">145</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">354,091</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">126,273</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">93,900</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,094</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">22,282</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">608,640</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">(*) For 2019 and 2018 includes Investments in non-consolidated companies,
for 2017 includes Investments in non-consolidated companies and Other equity investments for $21.6 million. See Note 12 and 33.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">There are no revenues from external customers attributable to the
Company&#8217;s country of incorporation (Luxembourg). For geographical information purposes, &#8220;North America&#8221; comprises
Canada, Mexico and the USA (31%); &#8220;South America&#8221; comprises principally Argentina (12%), Brazil and Colombia; &#8220;Europe&#8221;
comprises principally Italy, Romania and United Kingdom; &#8220;Middle East and Africa&#8221; comprises principally Egypt, Kazakhstan,
Nigeria, India and Saudi Arabia and; &#8220;Asia Pacific&#8221; comprises principally China, Japan, Indonesia and Thailand.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue is mainly recognized at a point in time to direct customers,
when control has been transferred and there is no unfulfilled performance obligation that could affect the acceptance of the product
by the customer. Tenaris&#8217;s revenues related to governmental institutions represents approximately 21%, 15% and 17% in 2019,
2018 and 2017 respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tubes segment revenues by market:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">Revenues Tubes&nbsp;&nbsp;(in million US dollar)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2019</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; font-size: 10pt; text-align: left">Oil and Gas</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">5,757</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">6,042</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">4,034</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Hydrocarbon Processing and Power Generation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">534</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">602</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">484</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Industrial and Other</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">579</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">589</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">448</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">Total</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,870</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">7,233</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">4,966</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">At December 2019, 2018 and 2017, the Company recognized contract
liabilities related to customer advances in the amount of $82.7, $62.7 and $56.7 million, respectively. These amounts related to
years 2018 and 2017 were reclassified to revenues during the subsequent year. In these periods, no significant adjustment in revenues
were performed related to performance obligations previously satisfied.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;<b>&nbsp;</b></p>

<!-- Field: Page; Sequence: 136 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt">2</td><td>Cost of sales</td></tr></table>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; font-size: 10pt; font-weight: bold; text-align: justify">Inventories at the beginning of the year</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right">2,524,341</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right">2,368,304</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right">1,563,889</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Increase in inventory due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">52,966</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Plus: Charges of the year</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Raw materials, energy, consumables and other</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,709,629</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,400,396</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,794,503</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Services and fees</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">222,415</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">275,130</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">244,035</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Labor cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">870,261</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">855,040</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">778,408</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Depreciation of property, plant and equipment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">428,791</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">432,497</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">383,490</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Amortization of intangible assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,948</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,220</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,621</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Depreciation of right-of-use assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28,727</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Maintenance expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">284,758</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">185,782</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">183,370</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Allowance for obsolescence</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">29,138</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">25,457</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(12,917</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Taxes</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">100,738</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">133,308</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,542</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">Other</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">115,663</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">119,507</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">88,823</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">4,849,034</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">5,435,337</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">4,496,875</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Less: Inventories at the end of the year</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(2,265,880</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(2,524,341</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(2,368,304</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(7,403</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,107,495</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,279,300</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,685,057</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt; font-weight: bold"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt">3</td><td>Selling, general and administrative expenses</td></tr></table>

<p style="margin: 0pt 0 0pt 22.3pt; font-size: 10pt; font-weight: bold">&nbsp;&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; font-size: 10pt; text-align: justify">Services and fees</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">153,773</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">128,090</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">132,301</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Labor cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">481,854</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">470,928</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">443,338</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Depreciation of property, plant and equipment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,524</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16,968</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">17,979</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Amortization of intangible assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">41,967</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">206,672</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">188,550</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Depreciation of right-of-use assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">15,564</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Commissions, freight and other selling expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">441,442</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">491,555</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">339,759</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Provisions for contingencies</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28,565</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">23,498</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">17,664</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Allowances for doubtful accounts</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(16,256</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,751</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,421</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Taxes</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">110,876</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">71,110</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">56,826</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">Other</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">89,665</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">99,404</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">81,061</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,365,974</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,509,976</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,272,057</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,041</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,365,974</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,509,976</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,270,016</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt">4</td><td>Labor costs (included in Cost of sales and in Selling, general and administrative expenses)</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="6" style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; font-size: 10pt; text-align: left">Wages, salaries and social security costs</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">1,274,474</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">1,250,783</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">1,144,341</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Severance indemnities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24,637</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">25,225</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">34,497</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Defined contribution plans</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,663</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">13,217</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,401</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Pension benefits - defined benefit plans</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,207</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">15,390</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">15,066</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Employee retention and long term incentive program</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">22,134</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">21,353</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">15,441</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,352,115</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,325,968</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,221,746</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(853</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,352,115</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,325,968</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,220,893</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The following table shows the geographical distribution of the employees:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center; border-top: Black 1pt solid">Country</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; font-size: 10pt">Argentina</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">5,405</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">5,427</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">5,221</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Mexico</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,370</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,595</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,139</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">USA</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,255</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,382</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,953</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Italy</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,144</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,155</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,088</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Romania</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,815</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,852</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,870</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Brazil</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,360</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,287</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,382</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Colombia</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,040</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,082</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,003</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Canada</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">772</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,030</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">919</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Indonesia</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">616</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">554</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">506</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Japan</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">400</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">399</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">410</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-size: 10pt">Other</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,023</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,204</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,114</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">23,200</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">22,967</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">21,605</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p></div><p style="margin-top: 0; margin-bottom: 0"></p>

<!-- Field: Page; Sequence: 137 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin-top: 0; margin-bottom: 0"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 21.3pt"><b>5</b></td><td><b>Other operating income and expenses</b></td></tr></table>

<p style="margin: 0pt 0 0pt 22.5pt; font-size: 10pt; text-indent: -22.5pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="6" style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-style: italic; text-align: left">Other operating income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 55%; font-size: 10pt; text-align: left">Net income from other sales</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">8,651</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">3,604</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">4,395</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Net rents</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,089</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,909</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,325</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Other</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,025</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,546</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,796</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Recovery on allowance for doubtful receivables</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,239</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">23,004</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">15,059</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">10,516</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-style: italic; text-align: left">Other operating expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Contributions to welfare projects and non-profits organizations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,199</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,379</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,158</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Loss on fixed assets and material supplies disposed / scrapped</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">118</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Allowance for doubtful receivables</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,179</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">84</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">11,199</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">12,558</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">9,360</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">11,199</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">12,558</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">9,359</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p></div><p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><b>6</b></td><td><b>Financial results </b></td></tr></table>

<p style="margin: 0pt 0 0pt 22.5pt; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; width: 55%; font-size: 10pt; text-align: justify">Interest Income</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">48,061</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">42,244</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">51,525</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify">Net result on changes in FV of financial assets at FVPL</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(64</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,388</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(3,920</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Finance income (*)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">47,997</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">39,856</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">47,605</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Finance cost</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(43,381</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(36,942</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(27,072</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Net foreign exchange transactions results (**)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">27,868</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28,845</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(48,955</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Foreign exchange derivatives contracts results (***)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(11,616</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,576</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(8,996</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify">Other</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,585</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,035</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,392</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: justify">Other financial results</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">14,667</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">34,386</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(43,559</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Net financial results</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">19,283</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">37,300</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(23,026</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">9</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">19,283</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">37,300</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(23,017</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><i>(*) Finance Income: </i></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">In 2019 and 2018 includes $7.6 and $3.6 million of interest related to instruments carried
at FVPL, respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(**) <i>Net foreign exchange transactions results:</i></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">In 2019 mainly includes the result from the Argentine peso depreciation against the U.S.
dollar on Peso denominated financial, trade, social and fiscal payables and receivables at Argentine subsidiaries with functional
currency U.S. dollar.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white">In 2018 mainly includes the result from
the Argentine peso depreciation against the U.S. dollar on Peso denominated financial, trade, social and fiscal payables and receivables
at Argentine subsidiaries with functional currency U.S. dollar, together with the positive impact from Euro depreciation against
the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. Dollar, largely offset
by an increase in currency translation adjustment reserve from our Italian subsidiary.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white">In 2017 mainly includes the negative impact
from Euro appreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency
U.S. Dollar, largely offset by an increase in currency translation adjustment reserve from our Italian subsidiary.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(***) <i>Foreign exchange derivatives contracts results:</i></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In 2019 includes mainly losses on derivatives covering net payables
in Argentine peso and in Euros and net receivables in Canadian dollar.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In 2018 includes mainly gain on derivatives covering net receivables
in Canadian dollar.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In 2017 includes mainly losses on derivatives covering net receivables
in Brazilian real and Canadian dollar and net payables in Argentine peso, partially offset by gains on derivatives covering net
payables in Euro.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<!-- Field: Page; Sequence: 138 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.3pt"><b>7</b></td><td><b>Income tax</b></td></tr></table>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; font-size: 10pt; text-align: left">Current tax</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">299,692</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">343,104</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">184,016</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Deferred tax</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(97,240</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(113,897</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(100,432</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">202,452</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">229,207</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">83,584</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(100,720</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">202,452</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">229,207</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(17,136</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt">The tax on Tenaris&#8217;s income before tax differs from the theoretical amount that
would arise using the tax rate in each country as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; width: 55%; font-size: 10pt; text-align: left">Income before income tax</td><td style="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">933,710</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,103,107</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">427,711</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Tax calculated at the tax rate in each country</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">186,752</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">207,422</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,456</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Effect of currency translation on tax base</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">53,296</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">77,552</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(922</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Changes in the tax rates</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(13</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,824</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(62,968</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Utilization of previously unrecognized tax losses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(547</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Tax revaluation, withholding tax and others</td><td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(37,036</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(57,591</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">40,298</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">Tax charge</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">202,452</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">229,207</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(17,136</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Effect of currency translation on tax base,</i> Tenaris applies
the liability method to recognize deferred income tax on temporary differences between the tax bases of assets/liabilities and
their carrying amounts in the financial statements. By application of this method, Tenaris recognizes gains and losses on deferred
income tax due to the effect of the change in the value on the tax basis in subsidiaries (mainly Argentina and Mexico), which have
a functional currency different than their local currency. These gains and losses are required by IFRS even though the revalued
/ devalued tax bases of the relevant assets will not result in any deduction / obligation for tax purposes in future periods.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Tax revaluation, withholding tax and others, </i>mainly includes
a net tax income of $66 and $65 million for 2019 and 2018 respectively related to the tax revaluation regime in Argentina and Mexico;
it also includes a charge of $34 and $26 million for 2019 and 2018 respectively related to withholding taxes for intra group international
operations.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Changes in the tax rates</i>, in 2017 it includes mainly the
effect of the changes in tax rate in Argentine and US subsidiaries for approximately $46 million and $15 million respectively.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt">8</td><td>Dividends distribution</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">On October 30,
2019, the Company&#8217;s Board of Directors approved the payment of an interim dividend of $0.13 per share ($0.26 per ADS), or
approximately $153 million, paid on November 20, 2019, with an ex-dividend date of November 18, 2019.</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On May 6, 2019, 	the Company&#8217;s Shareholders approved an
annual dividend in the amount of $0.41 per share ($0.82 per ADS). The amount approved included the interim dividend previously
paid on November 21, 2018 in the amount of $0.13 per share ($0.26 per ADS). The balance, amounting to $0.28 per share ($0.56 per
ADS), was paid on May 22, 2019. In the aggregate, the interim dividend paid in November 2018 and the balance paid in May 2019 amounted
to approximately $484 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On May 2, 2018, the Company&#8217;s Shareholders approved an annual
dividend in the amount of $0.41 per share ($0.82 per ADS). The amount approved included the interim dividend previously paid on
November 22, 2017 in the amount of $0.13 per share ($0.26 per ADS). The balance, amounting to $0.28 per share ($0.56 per ADS),
was paid on May 23, 2018. In the aggregate, the interim dividend paid in November 2017 and the balance paid in May 2018 amounted
to approximately $484 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On May 3, 2017, the Company&#8217;s Shareholders approved an annual
dividend in the amount of $0.41 per share ($0.82 per ADS). The amount approved included the interim dividend previously paid on
November 23, 2016 in the amount of $0.13 per share ($0.26 per ADS). The balance, amounting to $0.28 per share ($0.56 per ADS),
was paid on May 24, 2017. In the aggregate, the interim dividend paid in November 2016 and the balance paid in May 2017 amounted
to approximately $484 million.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<!-- Field: Page; Sequence: 139 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt">9</td><td style="text-align: justify">Property, plant and equipment, net</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">&nbsp;</font></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and <br> civil <br> buildings</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Industrial <br> buildings, <br> plant and <br> production <br> equipment</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vehicles, <br> furniture <br> and <br> fixtures</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Work in <br> progress</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Spare <br> parts and <br> equipment</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 22%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">732,578</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">12,121,569</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">377,260</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">127,378</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">63,197</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">13,421,982</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,611</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(38,961</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,615</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(864</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(256</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(43,307</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Increase due to business combinations (*)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">59,468</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">115,908</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,733</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,630</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">178,739</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Additions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,178</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,107</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">299,412</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,202</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">313,915</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Disposals / Consumptions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(35</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(27,153</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(7,110</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,120</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,557</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(38,975</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers / Reclassifications</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">8,723</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">296,272</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">28,349</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(317,128</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(11,984</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,232</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">799,139</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">12,468,813</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">399,724</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">108,308</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">60,602</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">13,836,586</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold">Depreciation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">110,914</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,936,900</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">310,260</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,358,074</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(420</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(24,973</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,485</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(26,878</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Depreciation charge</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,409</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">415,826</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">20,080</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">447,315</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(362</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(38</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(400</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Disposals / Consumptions</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(73</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(25,580</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,889</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(31,542</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">121,468</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">7,302,135</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">322,966</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">7,746,569</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">677,671</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,166,678</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">76,758</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">108,308</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">60,602</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,090,017</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>


<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">(*) Related to SSP acquisition. See Note 27.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal"></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">&nbsp;</font></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and<br>
 civil <br>
buildings</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Industrial <br>
buildings, <br>
plant and <br>
production <br>
equipment</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vehicles, <br>
furniture <br>
and <br>
fixtures</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Work in <br>
progress</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Spare <br>
parts and <br>
equipment</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 22%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">712,061</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">11,954,585</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">370,542</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">167,079</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">42,413</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">13,246,680</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,628</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(117,977</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,458</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,269</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(424</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(131,756</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Additions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">723</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">681</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,245</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">294,163</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">20,756</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">317,568</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Disposals / Consumptions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(221</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(21,836</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,269</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(42</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,541</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(35,909</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers / Reclassifications</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">25,643</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">306,116</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">21,200</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(331,553</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,993</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">25,399</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">732,578</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">12,121,569</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">377,260</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">127,378</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">63,197</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">13,421,982</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Depreciation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">101,197</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,612,871</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">303,469</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,017,537</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,383</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(72,141</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,939</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(78,463</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Depreciation charge</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,153</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">417,229</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">21,083</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">449,465</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">173</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(671</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(498</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Disposals / Consumptions</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(53</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(21,232</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(8,682</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(29,967</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">110,914</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,936,900</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">310,260</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">7,358,074</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">621,664</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,184,669</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">67,000</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">127,378</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">63,197</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,063,908</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal"></font></p>

<p style="margin: 0pt 0 0pt 22.5pt; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Property, plant and equipment include capitalized interests for
net amounts at December 31, 2019 and 2018 of $35.4 million and $37.4 million, respectively. There were no interest capitalized
during 2019 and 2018.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<!-- Field: Page; Sequence: 140 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><b>10</b></td><td><b>Intangible assets, net</b></td></tr></table>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Information <br>
system projects</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Licenses,<br>
patents and<br>
 trademarks (*)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Goodwill</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Customer<br>
 relationships</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 35%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">580,622</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">464,571</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">2,085,936</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">2,058,859</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">5,189,988</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,917</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(70</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(968</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,955</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Increase due to business combinations (**)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">405</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">32,869</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">81,192</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">114,466</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Additions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">35,487</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">772</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">36,259</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,665</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,665</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,062</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,531</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(6,593</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">604,870</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">463,742</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,117,837</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,140,051</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,326,500</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold">Amortization</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">513,984</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">373,466</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">797,592</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,038,981</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,724,023</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,734</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,734</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Amortization charge</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28,937</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">719</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,259</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">47,915</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(4,850</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(413</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,263</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">536,337</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">373,772</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">797,592</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,057,240</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,764,941</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">68,533</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">89,970</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,320,245</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">82,811</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,561,559</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Information <br>
system projects</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Licenses,<br>
patents and<br>
 trademarks (*)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Goodwill</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Customer<br>
 relationships</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 35%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">560,692</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">465,963</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">2,090,073</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">2,058,859</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">5,175,587</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(6,153</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(183</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,137</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,473</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Additions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">31,632</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">273</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">31,905</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,493</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,493</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(56</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,482</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,538</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">580,622</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">464,571</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,085,936</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,058,859</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,189,988</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Amortization</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">478,946</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">372,746</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">797,592</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,865,444</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,514,728</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,551</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,551</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Amortization charge</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">40,635</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">720</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">173,537</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">214,892</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(46</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(46</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">513,984</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">373,466</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">797,592</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,038,981</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,724,023</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">66,638</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">91,105</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,288,344</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">19,878</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,465,965</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(*) Includes Proprietary Technology.</p>

<p style="margin: 0pt 0; font-size: 10pt">(**) Related to SSP acquisition.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The geographical allocation of goodwill for the year ended December
31, 2019 was $1,168.4 million for North America, $116.2 million for South America, $1.9 million for Europe and $33.7 million for
Middle East &amp; Africa.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The carrying amount of goodwill allocated by CGU, as of December
31, 2019, was as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td colspan="5" style="font-size: 10pt">(All amounts in million US dollar)</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">As of December 31, 2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tubes Segment</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Other Segment</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">CGU</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Maverick<br>
 Acquisition</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Hydril <br>
Acquisition</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Maverick <br>
Acquisition</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 35%; font-size: 10pt; text-align: left">OCTG (USA)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">225</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">225</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Tamsa (Hydril and other)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">346</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">19</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">365</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Siderca (Hydril and other)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">265</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">93</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">358</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Hydril</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">309</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">309</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Confab</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Coiled Tubing</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Other</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">59</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">59</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">225</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">920</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">171</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">4</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,320</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 141 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><b>11</b></td><td><b>Right-of-use assets, net and lease liabilities</b></td></tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt"><i>Right of use assets evolution</i></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and Civil<br>
 Buildings</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Industrial <br>
Buildings, Plant <br>
and Production<br>
 Equipment</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vehicles, furniture<br>
 and fixtures</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 48%; font-size: 10pt; text-align: justify">Opening net book amount</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">27,713</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">202,352</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">8,335</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">238,400</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Increase due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">229</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,038</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,267</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Currency translation adjustment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(88</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(74</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Additions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,292</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24,985</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,165</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">41,442</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Disposals</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,009</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,488</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(818</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(6,315</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Transfers</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">496</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(496</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">36,137</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">225,389</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">14,194</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">275,720</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold">Depreciation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Depreciation charge</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,514</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">31,869</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,908</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">44,291</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(62</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">62</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Disposals / Consumptions</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(181</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,229</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(295</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,705</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">8,330</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">30,581</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,683</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">42,594</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">27,807</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">194,808</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">10,511</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">233,126</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Depreciation of right-of-use assets was mainly included in Tubes
segment.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The initial cost of right-of-use assets consists of the initial
lease liability plus lease payments made in 2018 of approximately $4 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt"><i>Lease liability evolution</i></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 87%; font-size: 10pt; text-align: left">Opening net book amount</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">234,149</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Increase due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,267</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,690</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Additions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">36,957</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">Cancellations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,688</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">Repayments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(43,974</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest accrued</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,766</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2019</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">230,167</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(<b>*</b>) The weighted average lessee&#8217;s incremental borrowing rate applied to
the lease liabilities on January 1, 2019 was 2.4%.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The amount of remaining payments with maturity less than 1 year,
between 2 and 5 years and more than 5 years is approximately 16%, 44% and 40% of the total remaining payments, respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Expense relating to short-term leases and low value leases (included
in <i>cost of sales and selling, general and administrative expenses</i>) in the period amounted to $15.1 million and $1.3 million
respectively.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<!-- Field: Page; Sequence: 142 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><b>12</b></td><td><b>Investments in non-consolidated companies</b></td></tr></table>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">805,568</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">640,294</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,781</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,848</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Equity in earnings of non-consolidated companies</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">82,036</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">193,994</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">20,635</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Dividends and distributions received (*)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(28,037</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(26,581</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Additions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">19,610</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Decrease / increase in equity reserves and others</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,066</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(3,987</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">At the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">879,965</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">805,568</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0 0pt 22.5pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(*) Related to Ternium and Usiminas. During 2019, $29.0 million were collected.</p>

<p style="margin: 0pt 0 0pt 4.3pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The principal non-consolidated companies are:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% ownership at December 31,</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Value at December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Company</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Country of incorporation</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 20%; font-size: 10pt; text-align: left">a) Ternium (*)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 25%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">Luxembourg</font></td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">11.46</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">11.46</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">751,105</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">725,548</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">b) Usiminas (**)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Brazil</font></td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3.07</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3.07</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">74,593</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">72,988</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-size: 10pt; padding-bottom: 1pt">Others</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">54,267</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,032</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">879,965</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">805,568</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">(*) Including treasury shares.</p>

<p style="margin: 0pt 0; font-size: 10pt">(**) At December 31, 2019 and 2018 the voting rights were 5.2%.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in"><i>a) Ternium</i></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Ternium, is a steel producer with production facilities in Mexico,
Argentina, Brazil, Colombia, United States and Guatemala and is one of Tenaris&#8217;s main suppliers of round steel bars and flat
steel products for its pipes business.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">At December 31, 2019, the closing price of Ternium&#8217;s ADSs
as quoted on the New York Stock Exchange was $22 per ADS, giving Tenaris&#8217;s ownership stake a market value of approximately
$505.4 million. At December 31, 2019, the carrying value of Tenaris&#8217;s ownership stake in Ternium, based on Ternium&#8217;s
IFRS Financial Statements, was approximately $751.1 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019&nbsp;the Company concluded that&nbsp;the
carrying amount does not exceed the recoverable value of the investment.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Summarized selected financial information of Ternium, including
the aggregated amounts of assets, liabilities, revenues and profit or loss is as follows:</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Ternium</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Non-current assets</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">8,757,320</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">8,121,824</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current assets</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,178,213</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,426,038</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">12,935,533</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">12,547,862</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Non-current liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,452,535</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,236,756</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current liabilities</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,768,125</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,826,530</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,220,660</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,063,286</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-controlling interests</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,103,208</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,091,321</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Revenues</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,192,818</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,454,807</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Gross profit</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,740,378</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,971,479</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Net income for the year attributable to owners of the parent</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">564,269</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,506,647</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Total comprehensive income for the year, net of tax, attributable to owners of the parent</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">445,473</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,176,964</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<!-- Field: Page; Sequence: 143 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>12</b></td><td><b>Investments in non-consolidated companies (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in"><i>b) Usiminas</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Usiminas is a Brazilian producer of high quality flat steel products
used in the energy, automotive and other industries.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019, the closing price of the Usiminas&#8217;
ordinary and preferred shares, as quoted on the B3 - Brasil Bolsa Balc&#227;o S.A, was BRL9.83 ($2.44) and BRL9.51 ($2.36), respectively,
giving Tenaris&#8217;s ownership stake a market value of approximately $92 million. As of that date, the carrying value of Tenaris&#8217;s
ownership stake in Usiminas was approximately $74.6 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Summarized selected financial information of Usiminas, including the aggregated amounts
of assets, liabilities, revenues and profit or loss is as follows:</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Usiminas</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Non-current assets</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">4,335,662</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">4,696,896</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current assets</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,198,449</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,148,322</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,534,111</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,845,218</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Non-current liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,955,395</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,933,207</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current liabilities</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">716,930</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">860,862</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,672,325</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,794,069</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-controlling interests</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">377,667</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">369,333</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Revenues</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,790,206</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,766,241</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Gross profit</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">478,141</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">612,156</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Net income for the year attributable to owners of the parent</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">52,779</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">194,381</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-indent: 0.5in"><b><i>c) Techgen</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-indent: 0.5in"><b><i>&nbsp;</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Techgen is a Mexican company that operates a natural gas-fired combined
cycle electric power plant in the Pesquer&#237;a area of the State of Nuevo Le&#243;n, Mexico. The company started producing
energy on December 1, 2016, with a power capacity of 900 megawatts. As of December 31, 2019, Tenaris held 22% of Techgen&#8217;s
share capital, and its affiliates, Ternium and Tecpetrol International S.A. (a wholly-owned subsidiary of San Faustin S.A., the
controlling shareholder of both Tenaris and Ternium), held 48% and 30% respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Techgen is a party to transportation capacity agreements for a purchasing
capacity of 150,000 MMBtu/Gas per day starting on August 1, 2016 and ending on July 31, 2036, and a party to a contract for the
purchase of power generation equipment and other services related to the equipment. As of December 31, 2019, Tenaris&#8217;s exposure
under these agreements amounted to $51.9 million and $0.9 million respectively. Furthermore, during 2018, Techgen entered a contract
for the purchase of clean energy certificates. As of December 31, 2019 Tenaris&#8217;s exposure under this agreement amounted to
$18.2 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-weight: normal">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">During 2019, Techgen repaid certain subordinated loans to Techgen&#8217;s
sponsors; the part corresponding to Tenaris amounted to $40.5 million. As of December 31, 2019, the aggregate outstanding principal
amount under these subordinated loans was $58.1 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On February 13, 2019, Techgen entered into a $640 million syndicated
loan agreement with several banks to refinance an existing loan, resulting in the release of certain corporate guarantee issued
by Techgen&#8217;s shareholders to secure the replaced facility.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Techgen&#8217;s obligations under the current facility, which is
&#8220;non-recourse&#8221; on the sponsors, are guaranteed by a Mexican security trust covering Techgen&#8217;s shares, assets
and accounts as well as Techgen&#8217;s affiliates rights under certain contracts. In addition, Techgen&#8217;s collection and
payment accounts not subject to the trust have been pledged in favor of the lenders under the new loan agreement, and certain direct
agreements &#8211;customary for these type of transactions&#8211; have been entered into with third parties and affiliates, including
in connection with the agreements for the sale of energy produced by the project and the agreements for the provision of gas and
long-term maintenance services to Techgen. The commercial terms and conditions governing the purchase, by the Company&#8217;s Mexican
subsidiary Tamsa, of 22% of the energy generated by the project remain unchanged.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-size: 10pt">Under the loan agreement, Techgen
is committed to maintain a debt service reserve account covering debt service becoming due during two consecutive quarters; such
account is funded by stand-by letters of credit issued for the account of Techgen&#8217;s sponsors in proportion to their respective
participations in Techgen. Accordingly, the Company and its Swiss subsidiary, Tenaris Investments Switzerland AG, applied for stand-by
letters of credit covering 22% of the debt service coverage ratio, which as of the date hereof amounts to $9.8 million.</font></p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-size: 10pt"></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-size: 10pt">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-size: 10pt"></font></p>

<!-- Field: Page; Sequence: 144 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><font style="font-size: 10pt"></font></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>13</b></td><td><b>Receivables &#8211; non current</b></td></tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Employee advances and loans</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">6,008</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">3,740</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Tax credits</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">20,065</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16,025</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Receivables from related parties</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">59,999</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">58,128</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Legal deposits</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,378</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,446</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Advances to suppliers and other advances</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,772</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,592</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Derivative financial instruments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">52</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Receivable Venezuelan subsidiaries</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">48,659</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">48,659</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Others</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,222</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,263</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">157,103</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">151,905</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p></div><p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>14</b></td><td><b>Inventories, net</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Finished goods</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">968,329</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">1,025,999</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Goods in process</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">612,888</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">709,497</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Raw materials</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">221,954</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">256,816</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Supplies</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">486,411</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">504,286</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Goods in transit</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">194,015</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">237,539</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">2,483,597</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">2,734,137</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for obsolescence (see Note 23 (i))</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(217,717</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(209,796</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,265,880</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,524,341</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p></div><p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>15</b></td><td><b>Receivables and prepayments, net</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Prepaid expenses and other receivables</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">30,579</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">31,599</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Government entities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,867</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,182</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Employee advances and loans</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,189</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,521</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Advances to suppliers and other advances</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">17,180</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">23,467</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Government tax refunds on exports</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">670</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,896</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Receivables from related parties</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">19,837</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">63,322</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Miscellaneous</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">31,145</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">30,682</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">109,467</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">162,669</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for other doubtful accounts (see Note 23 (i))</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(4,892</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(6,784</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">104,575</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">155,885</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b></b></td></tr></table><div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in"><b>16</b></td><td><b>Current tax assets and liabilities</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Current tax assets</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">V.A.T. credits</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">112,161</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">67,322</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Prepaid taxes</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">55,227</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">54,010</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">167,388</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">121,332</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Current tax liabilities</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Income tax liabilities</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">64,994</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">182,711</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">V.A.T. liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,953</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,091</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other taxes</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">52,678</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">49,431</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">127,625</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">250,233</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<!-- Field: Page; Sequence: 145 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><b>17</b></td><td><b>Trade receivables, net</b></td></tr></table>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Current accounts</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">1,387,494</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">1,778,796</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Receivables from related parties</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">9,448</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">25,105</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,396,942</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,803,901</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for doubtful accounts (see Note 23 (i))</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(48,782</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(66,535</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,348,160</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,737,366</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The following table sets forth details of the aging of trade receivables:&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"></td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b></b></font></td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="border-left: Black 1pt solid; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>Past due</b></font></td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: center; font-size: 10pt; padding-bottom: 1pt"><font style="font-size: 10pt">&nbsp;</font></td><td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Trade
                                         Receivables</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Not
                                         Due</b>&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>1
                                         - 180 days</b></font></td><td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>&gt;180
                                         days</b></font></td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">At December 31, 2019</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 44%; font-size: 10pt">Guaranteed</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">234,427</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">205,764</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">26,899</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">1,764</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Not guaranteed</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,162,515</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">948,449</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">157,960</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">56,106</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Guaranteed and not guaranteed</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,396,942</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,154,213</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">184,859</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">57,870</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Expected loss rate</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.09</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.04</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.24</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.57</td><td style="font-size: 10pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Allowances for doubtful accounts</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,294</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(529</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(455</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(310</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Nominative allowances for doubtful accounts</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(47,488</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,922</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(45,566</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Net Value</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,348,160</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,153,684</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">182,482</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">11,994</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><b>&nbsp;</b></td>
    <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><b>&nbsp;</b></td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"></td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><b>&nbsp;</b></td><td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><b>&nbsp;</b></td>
    <td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><b>&nbsp;</b></td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"></td><td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><b>&nbsp;</b></td><td style="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><b>&nbsp;</b></td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><b>&nbsp;</b></td><td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>Past due</b></font></td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><b>&nbsp;</b></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><b>&nbsp;</b></td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><b>&nbsp;</b></td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><b>Trade
                                         Receivables</b></td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><b>&nbsp;</b></td><td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><b>&nbsp;</b></td>
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><b>&nbsp;</b></td><td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Not
                                         Due</b></font></td><td style="border-bottom: Black 1pt solid; text-align: center"><b>&nbsp;</b></td><td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><b>&nbsp;</b></td>
    <td style="border-bottom: Black 1pt solid; text-align: center"><b>&nbsp;</b></td><td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>1
                                         - 180 days</b></font></td><td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>&nbsp;</b></font></td><td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>&nbsp;</b></font></td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>&nbsp;</b></font></td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>&gt;180
                                         days</b></font></td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">At December 31, 2018</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 44%; font-size: 10pt">Guaranteed</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">286,250</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">254,743</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">30,884</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">623</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Not guaranteed</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,517,651</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,180,788</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">260,675</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">76,188</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Guaranteed and not guaranteed</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,803,901</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">1,435,531</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">291,559</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">76,811</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Expected loss rate</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.07</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.04</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.17</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.43</td><td style="font-size: 10pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Allowances for doubtful accounts</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,396</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(564</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(510</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(322</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Nominative allowances for doubtful accounts</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(65,139</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,436</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(63,703</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Net Value</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,737,366</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,434,967</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">289,613</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">12,786</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Trade receivables are mainly denominated in <font style="color: black">U.S. dollars.</font></p></div><p style="margin: 0pt 0; font-size: 10pt"><font style="color: black"></font></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>18</b></td><td><b>Cash and cash equivalents and other investments</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Cash and cash equivalents</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 74%; font-size: 10pt; text-align: left">Cash at banks</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">118,314</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">81,211</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Liquidity funds</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,166,697</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">160,198</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Short &#8211; term investments</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">269,288</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">186,952</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,554,299</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">428,361</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Other investments - current</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Fixed Income (time-deposit, zero coupon bonds, commercial papers)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">65,874</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">300,410</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bonds and other fixed Income</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">144,502</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">187,324</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">210,376</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">487,734</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Other investments - Non-current</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Bonds and other fixed Income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,012</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">113,829</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Others</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,922</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,326</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">24,934</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">118,155</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 146 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>


<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>19</b></td><td><b>Borrowings</b></td></tr></table>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Non-current</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Bank borrowings</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">40,896</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">29,214</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Costs of issue of debt</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(16</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(27</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">40,880</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">29,187</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold">Current</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Bank borrowings</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">781,258</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">508,143</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Bank overdrafts</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,644</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Finance lease liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">44</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Costs of issue of debt</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(10</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(11</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">781,272</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">509,820</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Borrowings</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">822,152</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">539,007</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The maturity of borrowings is as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 year or <br> less</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 - 2 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2 &#8211; 3 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3 - 4 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4 - 5 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over 5 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">At December 31, 2019</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 30%; font-size: 10pt; text-align: left; padding-bottom: 1pt">Other borrowings</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">781,272</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,307</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">23,573</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">822,152</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total borrowings</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">781,272</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">17,307</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">23,573</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">822,152</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest to be accrued (*)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">11,370</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,045</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">117</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">12,532</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">792,642</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">18,352</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">23,690</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">834,684</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>


<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 year or <br> less</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 - 2 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2 &#8211; 3 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3 - 4 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4 - 5 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over 5 <br> years</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">At December 31, 2018</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 30%; font-size: 10pt; text-align: left">Financial lease</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; font-size: 10pt; text-align: right">44</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 7%; font-size: 10pt; text-align: right">44</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other borrowings</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">509,776</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,271</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,771</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">20,145</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">538,963</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total borrowings</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">509,820</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">4,271</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">4,771</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">20,145</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">539,007</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest to be accrued (*)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">8,182</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,175</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,166</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">169</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">10,692</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">518,002</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,446</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,937</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">20,314</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">549,699</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>


<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; background-color: white">(*) Includes the effect of hedge accounting.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt">Significant borrowings include:</p>

<div data-td-taggable-table=""><table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: bottom; background-color: white">
    <td style="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>In million of USD</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="white-space: nowrap; width: 26%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">Disbursement date</font></td>
    <td style="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">Borrower</font></td>
    <td style="white-space: nowrap; width: 15%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">Type</font></td>
    <td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">Original &amp; Outstanding</font></td>
    <td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">Final maturity</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="white-space: nowrap"><font style="font-size: 10pt">2019</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">Tamsa</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">Bank loans</font></td>
    <td style="white-space: nowrap; text-align: right"><font style="font-size: 10pt">621</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">2020</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap"><font style="font-size: 10pt">2019</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">Siderca</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">Bank loans</font></td>
    <td style="white-space: nowrap; text-align: right"><font style="font-size: 10pt">60</font></td>
    <td style="white-space: nowrap; text-align: center"><font style="font-size: 10pt">2020</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="white-space: nowrap">&nbsp;</td>
    <td style="white-space: nowrap; text-align: center">&nbsp;</td>
    <td style="white-space: nowrap; text-align: center">&nbsp;</td>
    <td style="white-space: nowrap; text-align: right">&nbsp;</td>
    <td style="white-space: nowrap; text-align: center">&nbsp;</td></tr>
</table></div>
<p style="margin: 0pt 0; font-size: 10pt">As of December 31, 2019, Tenaris was in compliance with all of its covenants.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The weighted average interest rates before tax shown below were
calculated using the rates set for each instrument in its corresponding currency as of December 31, 2019 and 2018, considering
hedge accounting where applicable.</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Total borrowings</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">3.18</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">3.98</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Breakdown of long-term borrowings by currency and rate is as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Non-current borrowings</b></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Currency</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Interest rates</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 37%; font-size: 10pt">USD</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 36%; font-size: 10pt">Fixed</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">18,370</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">18,762</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">SAR</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Fixed</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16,106</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">EUR</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Fixed</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,108</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,023</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">EUR</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">Variable</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,296</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,402</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total non-current borrowings</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">40,880</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">29,187</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<!-- Field: Page; Sequence: 147 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>19</b></td><td style="text-align: justify"><b>Borrowings (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt">Breakdown of short-term borrowings by currency and rate is as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Current borrowings</b></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Currency</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Interest rates</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 37%; font-size: 10pt">USD</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 36%; font-size: 10pt">Variable</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">17,092</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">16,847</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Fixed</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">274,799</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">138,303</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">EUR</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Variable</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">80</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">198</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">EUR</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Fixed</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,772</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,178</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">MXN</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Fixed</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">424,964</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">301,047</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">ARS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Fixed</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">86</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">49,125</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">SAR</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Variable</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">35,666</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">SAR</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Fixed</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24,797</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Others</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Variable</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">89</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Others</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">Fixed</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">33</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total current borrowings</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">781,272</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">509,820</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Borrowings evolution</b></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31, 2019</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non current</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Current</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">29,187</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">509,820</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(229</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">669</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Proceeds and repayments, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,582</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">203,931</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Interests accrued less payments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">304</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,950</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Reclassifications</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(11,733</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,733</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Increase due to Business Combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">27,933</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">53,789</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Overdrafts variation</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,620</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">40,880</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">781,272</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt">The carrying amounts of assets pledged as security for current and non-current borrowings
are immaterial for the years 2019 and 2018.</p></div><p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><b>20</b></td><td><b>Deferred income tax</b></td></tr></table>

<p style="margin: 0pt 0 0pt 22.3pt; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt">Deferred income taxes are calculated in full on temporary differences under the liability
method using the tax rate of each country.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The evolution of deferred tax assets and liabilities during the year are as follows:</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; font-weight: bold">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Deferred tax liabilities</b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fixed assets (*)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Intangible and Other</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 48%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">710,995</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">25,048</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">46,532</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">782,575</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(347</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(351</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,621</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,209</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16,830</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">423</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">423</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge / (credit)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(64,930</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,652</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">59,902</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(10,680</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">651,339</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">19,396</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">118,062</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">788,797</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fixed assets (*)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Intangible and Other</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 48%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">744,926</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">34,934</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">55,585</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">835,445</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">35</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">35</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(876</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">92</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(784</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">288</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">288</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(33,055</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,886</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,468</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(52,409</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">710,995</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">25,048</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">46,532</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">782,575</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt">(*) Includes the effect of currency translation on tax base. See Note 7.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 148 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>20</b></td><td style="text-align: justify"><b>Deferred income tax (Cont.)</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Deferred tax assets</b></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Provisions and<br>
 allowances</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tax losses</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 35%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(16,116</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(86,585</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(396,257</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(86,184</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(585,142</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">362</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">306</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">497</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">286</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,451</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,160</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,413</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,172</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,238</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,983</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,261</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,261</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge / (credit)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,739</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,712</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,100</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(92,209</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(86,560</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(19,653</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(93,404</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(382,832</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(181,606</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(677,495</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Provisions and<br>
 allowances</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tax losses</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 35%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(26,475</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(89,555</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(354,944</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(60,033</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(531,007</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">952</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(164</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">788</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,532</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,447</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,014</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(38</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,955</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">23</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,587</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,610</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge / (credit)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,852</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,523</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(42,327</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(27,536</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(61,488</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(16,116</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(86,585</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(396,257</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(86,184</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(585,142</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In 2019 the effect of the adoption of IFRS 16 has been recognized
as &#8220;Other&#8221; both for deferred tax assets and liabilities.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets related to taxable losses of Tenaris subsidiaries
are recognized to the extent it is considered probable that future taxable profits will be available against which such losses
can be utilized in the foreseeable future. This amount includes $338 million related to US subsidiaries mainly due to the recognition
of accelerated fiscal depreciations. The remaining balance mainly corresponds to Japanese and Brazilian subsidiaries. These subsidiaries
have incurred in fiscal losses in the past. Tenaris has concluded that these deferred tax assets will be recoverable based on the
business plans and budgets.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The expiration dates of the recognized tax losses in less than 1
year, between 2 and 5 years and in more than 5 years is 0.2%, 2.5% and 97.3% respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019, the net unrecognized deferred tax assets
amount to $121.2 million. The expiration dates of the unrecognized tax losses less than 1 year, between 2 and 5 years and more
than 5 years is approximately 2.8%, 20.2% and 77%.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The estimated recovery analysis of deferred tax assets and deferred
tax liabilities is as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Deferred tax assets to be recovered after 12 months</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(538,274</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(452,330</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Deferred tax liabilities to be settled after 12 months</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">766,852</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">739,670</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred income tax assets and liabilities are offset when (1) there
is a legally enforceable right to set-off current tax assets against current tax liabilities and (2) when the deferred income taxes
relate to the same fiscal authority on either the same taxable entity or different taxable entities where there is an intention
to settle the balances on a net basis. The following amounts, determined after appropriate set-off, are shown in the Consolidated
Statement of Financial Position:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Deferred tax assets</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(225,680</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(181,606</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred tax liabilities</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">336,982</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">379,039</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">111,302</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">197,433</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The movement in the net deferred income tax liability account is
as follows:</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">197,433</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">304,438</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">823</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,100</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,171</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,847</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Charged directly to Other Comprehensive Income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(838</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,898</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement credit</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(97,240</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(113,897</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">111,302</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">197,433</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<!-- Field: Page; Sequence: 149 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><b>21</b></td><td><b>Other liabilities</b></td></tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.5in"><b>(i)</b></td><td><b>Other liabilities &#8211; Non current</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Post-employment benefits</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">144,993</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">115,087</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Other-long term benefits</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">85,473</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">78,492</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Miscellaneous</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">20,917</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">19,550</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">251,383</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">213,129</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b>Post-employment benefits</b></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="text-align: left; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">Unfunded</font></td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">125,573</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">97,318</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Funded</font></td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">19,420</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,769</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">144,993</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">115,087</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 18pt"><font style="font-family: Wingdings">&#167;</font></td><td><b>Unfunded</b></td></tr></table>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">97,318</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">101,889</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,567</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,849</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Current service cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,978</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,400</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Interest cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,526</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,070</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Remeasurements (*)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,010</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,946</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">15,660</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Benefits paid from the plan</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(9,328</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(9,719</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Other</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,976</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">473</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">At the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">125,573</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">97,318</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 4.5pt; font-size: 10pt; text-align: justify">(*) For 2019 a loss of $1.3 million is attributable to
demographic assumptions and a loss of $5.7 million to financial assumptions. For 2018 a gain of $0.2 million is attributable to
demographic assumptions and a gain of $3.7 million to financial assumptions.</p>

<p style="margin: 0pt 0 0pt 4.5pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The actuarial assumptions for the most relevant plans were as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td colspan="5" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>Year ended December 31,</b></font></td><td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Discount rate</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">1% - 7%</font></td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">2% - 7%</font></td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Rate of compensation increase</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">0% - 3%</font></td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">0% - 3%</font></td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019, an increase / (decrease) of 1% in the discount
rate assumption of the main plans would have generated a (decrease) / increase on the defined benefit obligation of $7.4 million
and $7 million respectively, and an increase / (decrease) of 1% in the rate of compensation assumption of the main plans would
have generated an increase / (decrease) impact on the defined benefit obligation of $4.5 million and $4.5 million respectively.
The above sensitivity analyses are based on a change in discount rate and rate of compensation while holding all other assumptions
constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 18pt"><font style="font-family: Wingdings">&#167;</font></td><td><b>Funded</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal">The amounts
recognized in the statement of financial position for the current annual period and the previous annual period are as follows:</font></p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal">&nbsp;</font></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="text-align: left; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left"><font style="font-size: 10pt">Present value of funded obligations</font></td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">160,412</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">146,885</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">Fair value of plan assets</font></td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(145,160</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(132,438</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left"><font style="font-size: 10pt"><b>Liability (*)</b></font></td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">15,252</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">14,447</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><font style="font-style: normal">(*) In 2019
and 2018, $4.2 million and $3.3 million corresponding to a plan with a surplus balance were reclassified within other non-current
assets, respectively. </font></p>

<p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<!-- Field: Page; Sequence: 150 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>21</b></td><td><b>Other liabilities (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Post-employment benefits (Cont.)</b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><font style="font-family: Wingdings">&#167;</font></td><td><b>Funded (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The movement in the present value of funded obligations is as follows:</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">146,885</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">165,485</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,542</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(8,182</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Current service cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">721</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,328</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Interest cost</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,754</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,691</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Remeasurements (*)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,769</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(7,984</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Benefits paid</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(10,259</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,453</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">160,412</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">146,885</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>


<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">(*) For 2019 a loss of $0.4 million is attributable to demographic
assumptions and a loss of $12.4 million to financial assumptions. For 2018 a loss of $0.4 million is attributable to demographic
assumptions and a gain of $8.4 million to financial assumptions. respectively.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The movement in the fair value of plan assets is as follows:</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(132,438</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(145,692</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,137</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,514</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Return on plan assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,018</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,936</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Remeasurements</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,507</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,967</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Contributions paid to the plan</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,589</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,108</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Benefits paid from the plan</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,259</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,453</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Other</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">270</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">364</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(145,160</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(132,438</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>


<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The major categories of plan assets as a percentage of total plan assets are as follows:</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Equity instruments</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">49.0</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">53.5</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Debt instruments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">47.0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">42.8</td><td style="font-size: 10pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Others</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4.0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3.7</td><td style="font-size: 10pt; text-align: left">%</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The actuarial assumptions for the most relevant plans were as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>Year ended December 31,</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2018</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Discount rate</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">3 % - 4 %</font></td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">4 % - 5 %</font></td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Rate of compensation increase</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">0 % - 3 %</font></td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right"><font style="font-size: 10pt">0 % - 3 %</font></td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The expected return on plan assets is determined by considering
the expected returns available on the assets underlying the current investment policy. Expected return on plan assets is determined
based on long-term, prospective rates of return as of the end of the reporting period.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019, an increase / (decrease) of 1% in the discount
rate assumption of the main plans would have generated a (decrease) / increase on the defined benefit obligation of $16.1 million
and $19.8 million respectively, and an increase / (decrease) of 1% in the compensation rate assumption of the main plans would
have generated an increase / (decrease) on the defined benefit obligation of $1.8 million and $1.6 million respectively. The above
sensitivity analyses are based on a change in discount rate and rate of compensation while holding all other assumptions constant.
In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The employer contributions expected to be paid for the year 2020
amount approximately to $5.1 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The methods and types of assumptions used in preparing the sensitivity
analysis did not change compared to the previous period.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<!-- Field: Page; Sequence: 151 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>21</b></td><td><b>Other liabilities (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.5in"><b>(ii)</b></td><td><b>Other liabilities &#8211; current</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Payroll and social security payable</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">153,009</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">148,069</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Miscellaneous</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">23,255</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,624</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">176,264</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">165,693</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 22.5pt"><b>22</b></td><td><b>Non-current allowances and provisions</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><i>(i)</i></td><td><i>Deducted from non-current receivables</i></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">-</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(641</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">110</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Used</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">531</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Values at the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><i>(ii)</i></td><td><i>Liabilities</i></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">36,089</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">36,438</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,571</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,261</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Additional provisions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">19,904</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">14,397</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Reclassifications</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,641</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,406</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Used</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,464</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(7,079</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Values at the end of the year</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">54,599</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">36,089</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><i>&nbsp;</i></p></div><p style="margin: 0pt 0; font-size: 10pt"><i></i></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt">23</td><td>Current allowances and provisions</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="font-weight: normal"><i>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deducted
from assets</i></font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for doubtful<br>
 accounts - Trade receivables</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for other doubtful<br>
 accounts - Other receivables</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for <br>
inventory obsolescence</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 49%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">(66,535</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">(6,784</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">(209,796</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">88</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">794</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,788</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,761</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Additional / reversals allowances</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16,256</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,239</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(29,138</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Used</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,276</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">565</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">31,184</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2019</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(48,782</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(4,892</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(217,717</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for doubtful<br>
 accounts - Trade receivables</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for other doubtful<br>
 accounts - Other receivables</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for <br>
inventory obsolescence</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 49%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">(78,385</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">(6,255</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">(216,068</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,423</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">329</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">359</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,575</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Additional allowances</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,751</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,179</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(25,457</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Used</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,849</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">291</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">28,154</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2018</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(66,535</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(6,784</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(209,796</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<!-- Field: Page; Sequence: 152 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt"><i></i></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><b>23</b></td><td><b>Current allowances and provisions (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><i>(ii)</i></td><td><i>Liabilities</i></td></tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Sales risks</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other claims and<br>
 contingencies</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 61%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">6,814</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">17,469</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">24,283</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(28</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(570</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(598</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">505</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,000</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,505</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Additional/ reversals provisions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,880</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,219</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,661</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Reclassifications</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,641</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,641</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Used</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(13,304</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(4,889</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(18,193</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,867</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">11,150</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">17,017</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt"><i></i></p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Sales risks</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other claims and<br>
 contingencies</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 61%; font-size: 10pt; text-align: left">Values at the beginning of the year</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">11,396</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">20,934</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">32,330</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Translation differences</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(103</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,205</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,308</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Additional provisions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,638</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,463</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,101</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Reclassifications</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,406</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,406</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Used</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(7,117</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(10,129</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(17,246</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,814</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">17,469</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">24,283</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2.75pt"></td></tr></table><div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 2.75pt"></td><td style="width: 36pt"><b>24</b></td><td><b>Derivative financial instruments </b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic">Net fair values of derivative financial instruments</p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The net fair values of derivative financial instruments, in accordance
with IFRS 13, are:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Derivatives hedging borrowings and investments</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">19,000</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">5,604</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other Derivatives</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">929</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,621</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Contracts with positive fair values (*)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">19,929</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">9,225</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Derivatives hedging borrowings and investments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(11,667</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other Derivatives</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,814</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(311</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Contracts with negative fair values</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(1,814</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(11,978</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">18,115</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(2,753</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white">(*) In 2018 includes $52 thousand of non-current
derivatives.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><font style="font-weight: normal"><i>Foreign exchange derivative contracts and hedge
accounting</i></font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris applies hedge accounting to certain cash flow hedges of
highly probable forecast transactions. The net fair values of exchange rate derivatives and those derivatives that were designated
for hedge accounting as of December 2019 and 2018, were as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="text-align: center; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center">Fair Value</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center">Hedge Accounting Reserve</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Purchase currency</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Sell currency</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Term</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 14%; font-size: 10pt">MXN</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 14%; font-size: 10pt">USD</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: center">2020</td><td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">18,999</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">888</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">404</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 11%; font-size: 10pt; text-align: right">(411</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">MXN</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; text-align: center">2020</td><td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(576</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">ARS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; text-align: center">2020</td><td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(6,542</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(895</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">EUR</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; text-align: center">2020</td><td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">588</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">203</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">JPY</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; text-align: center">2030</td><td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,149</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">BRL</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; text-align: center">2020</td><td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(234</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(131</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">JPY</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; text-align: center">2020</td><td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(190</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">271</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">KWD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; text-align: center">2020</td><td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">103</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">522</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">38</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">390</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">CAD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; text-align: center">2020</td><td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(200</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,089</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">USD</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">COP</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; text-align: center">2020</td><td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(345</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(23</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">Others</td><td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">2020</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(30</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(30</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">18,115</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(2,753</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,591</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(916</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<!-- Field: Page; Sequence: 153 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><font style="font-style: normal"><b>24</b></font></td><td><font style="font-style: normal"><b>Derivative financial instruments (Cont.)</b></font></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic"><font style="font-style: normal">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic"><font style="font-style: normal">Following is a summary of the hedge
reserve evolution:</font></p>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic"><font style="font-style: normal">&nbsp;</font></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity Reserve <br> Dec-17</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Movements <br> 2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity Reserve <br> Dec-18</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Movements <br> 2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity Reserve<br> Dec-19</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 35%; font-size: 10pt; text-align: left; padding-bottom: 1pt">Foreign Exchange</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(240</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(676</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(916</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,507</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,591</td><td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total Cash flow Hedge</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(240</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(676</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(916</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,507</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,591</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; font-style: italic"><font style="font-style: normal">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris estimates that the cash flow hedge reserve corresponding
to derivatives instruments at December 31, 2019 will be recycled to the Consolidated Income Statement during 2020. For information
on lease liabilities, see Note 11.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2.75pt"></td></tr></table><div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 2.75pt"></td><td style="width: 36pt"><b>25</b></td><td style="text-align: justify"><b>Contingencies, commitments and restrictions on the distribution of profits</b></td></tr></table>

<p style="margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-align: justify; text-indent: -28.35pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b><i>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contingencies
</i></b></p>

<p style="margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"><i>&nbsp;</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris is from time to time subject to various claims, lawsuits
and other legal proceedings, including customer, employee, tax and environmental-related claims, in which third parties are seeking
payment for alleged damages, reimbursement for losses, or indemnity. Management with the assistance of legal counsel periodically
reviews the status of each significant matter and assesses potential financial exposure.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Some of these claims, lawsuits and other legal proceedings involve
highly complex issues, and often these issues are subject to substantial uncertainties and, therefore, the probability of loss
and an estimation of damages are difficult to ascertain. Accordingly, with respect to a large portion of such claims, lawsuits
and other legal proceedings, Tenaris is unable to make a reliable estimate of the expected financial effect that will result from
ultimate resolution of the proceeding. In those cases, Tenaris has not accrued a provision for the potential outcome of these cases.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">If a potential loss from a claim, lawsuit or other proceeding is
considered probable and the amount can be reasonably estimated, a provision is recorded. Accruals for loss contingencies reflect
a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of
the financial statements and take into consideration litigation and settlement strategies. In a limited number of ongoing cases,
Tenaris was able to make a reliable estimate of the expected loss or range of probable loss and has accrued a provision for such
loss but believes that publication of this information on a case-by-case basis would seriously prejudice Tenaris&#8217;s position
in the ongoing legal proceedings or in any related settlement discussions. Accordingly, in these cases, the Company has disclosed
information with respect to the nature of the contingency but has not disclosed its estimate of the range of potential loss.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company believes that the aggregate provisions recorded for
potential losses in these Consolidated Financial Statements are adequate based upon currently available information. However, if
management&#8217;s estimates prove incorrect, current reserves could be inadequate and Tenaris could incur a charge to earnings
which could have a material adverse effect on Tenaris&#8217;s results of operations, financial condition, net worth and cash flows.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Below is a summary description of Tenaris&#8217;s material legal
proceedings which are outstanding as of the date of these Consolidated Financial Statements. In addition, Tenaris is subject to
other legal proceedings, none of which is believed to be material.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 16.8pt"></td><td style="width: 14.7pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify"><i>CSN claims relating to the January 2012 acquisition of Usiminas shares</i></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Confab Industrial S.A. (&#8220;Confab&#8221;), a Brazilian
subsidiary of the Company, is one of the defendants in a lawsuit filed in Brazil by Companhia Sider&#250;rgica Nacional (&#8220;CSN&#8221;)
and various entities affiliated with CSN against Confab and several Ternium subsidiaries that acquired a participation in Usiminas&#8217;
control group in January 2012.</p>

<p style="margin: 0pt 0 0pt 17.85pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The CSN lawsuit alleges that, under applicable Brazilian
laws and rules, the acquirers were required to launch a tag-along tender offer to all non-controlling holders of Usiminas&#8217;
ordinary shares for a price per share equal to 80% of the price per share paid in such acquisition, or BRL28.8, and seeks an order
to compel the acquirers to launch an offer at that price plus interest. If so ordered, the offer would need to be made to 182,609,851
ordinary shares of Usiminas not belonging to Usiminas&#8217; control group, and Confab would have a 17.9% share in that offer.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"></p>

<!-- Field: Page; Sequence: 154 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><b>25</b></td><td style="text-align: justify"><b>Contingencies, commitments and restrictions on the distribution of profits (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-align: justify; text-indent: -28.35pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b><i>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contingencies
(Cont.) </i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b><i>&nbsp;</i></b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 16.8pt"></td><td style="width: 14.7pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify"><i>CSN claims relating to the January 2012 acquisition of Usiminas shares (Cont.)</i></td></tr></table>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">On September 23, 2013, the first instance court dismissed
the CSN lawsuit, and on February 8, 2017, the court of appeals maintained the understanding of the first instance court. On March
6, 2017, CSN filed a motion for clarification against the decision of the Court of Appeals of S&#227;o Paulo, which was rejected
on July 19, 2017. On August 18, 2017, CSN filed an appeal to the Superior Court of Justice seeking the review and reversal of the
decision issued by the Court of Appeals. On March 5, 2018, the court of appeals ruled that CSN&#8217;s appeal did not meet the
requirements for submission to the Superior Court of Justice and rejected the appeal. On May 8, 2018, CSN appealed against such
ruling and on January 22, 2019, the court of appeals rejected it and ordered that the case be submitted to the Superior Court of
Justice. On September 10, 2019, the Superior Court of Justice declared CSN&#8217;s appeal admissible. The Superior Court of Justice
will review the case and then render a decision on the merits. The Superior Court of Justice is restricted to the analysis of alleged
violations to federal laws and cannot assess matters of fact.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 78.5pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Tenaris continues to believe that all of CSN&#8217;s
claims and allegations are groundless and without merit, as confirmed by several opinions of Brazilian legal counsel, two decisions
issued by the Brazilian securities regulator (CVM) in February 2012 and December 2016, and the first and second instance court
decisions referred to above.</p>

<p style="margin: 0pt 0 0pt 21.55pt; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 16.8pt"></td><td style="width: 14.7pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify"><i>Veracel celulose accident litigation</i></td></tr></table>

<p style="margin: 0pt 0 0pt 21.55pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">On September 21, 2007, an accident occurred in the premises
of Veracel Celulose S.A. (&#8220;Veracel&#8221;) in connection with a rupture in one of the tanks used in an evaporation system
manufactured by Confab. The Veracel accident allegedly resulted in material damages to Veracel.&nbsp;Ita&#250; Seguros S.A. (&#8220;Ita&#250;&#8221;),
Veracel&#8217;s insurer at the time of the Veracel accident and then replaced by Chubb Seguros Brasil S/A (&#8220;Chubb&#8221;),
initiated a lawsuit against Confab seeking reimbursement of damages paid to Veracel in connection with the Veracel accident. Veracel
initiated a second lawsuit against Confab seeking reimbursement of the amount paid as insurance deductible with respect to the
Veracel accident and other amounts not covered by insurance. Ita&#250; and Veracel claimed that the Veracel accident was caused
by failures and defects attributable to the evaporation system manufactured by Confab. Confab believes that the Veracel accident
was caused by the improper handling by Veracel&#8217;s personnel of the equipment supplied by Confab in violation of Confab&#8217;s
instructions. The two lawsuits were consolidated and are considered by the 6th Civil Court of S&#227;o Caetano do Sul; however,
each lawsuit will be adjudicated separately.</p>

<p style="margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">On September 28, 2018 Confab and Chubb, entered into
a settlement agreement pursuant to which on October 9, 2018, Confab paid an amount of approximately $3.5 million to Chubb, without
assuming any liability for the accident or the claim.</p>

<p style="margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">On October 10, 2018, Confab was notified that the court
had issued rulings for both lawsuits. Both decisions were unfavorable to Confab:</p>

<p style="margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 27pt"></td><td style="width: 18pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">With respect to Chubb&#8217;s claim, Confab was ordered to pay an amount of approximately BRL89.8
million (approximately $21.6 million) (including interest, fees and expenses). On October 15, 2018, Confab filed a request for
homologation of the settlement agreement mentioned above, as such settlement agreement remains valid and binding between the parties.
On November 8, 2018, the settlement agreement was homologated by the court.</td></tr></table>

<p style="margin: 0pt 0 0pt 45.1pt; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 27pt"></td><td style="width: 18pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">With respect to Veracel&#8217;s claim, Confab was ordered to pay the insurance deductible and other
concepts not covered by insurance, currently estimated to amount to BRL62.9 million (approximately $15.6 million) (including interest,
fees and expenses). Both parties filed motions for clarification against the court&#8217;s decision, which were partially granted.
Although the contract between Confab and Veracel expressly provided that Confab would not be liable for damages arising from lost
profits, the court award would appear to include BRL54.0 million (approximately $13.4 million) of damages arising therefrom; Confab
has additional defense arguments in respect of a claim for lost profits. On December 18, 2018, Confab filed an appeal against the
first instance court decision, and on April 30, 2019, Veracel filed its response to the appeal. At this stage the Company cannot
predict the outcome of the claim or the amount or range of loss in case of an unfavorable outcome.</td></tr></table>

<p style="margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<!-- Field: Page; Sequence: 155 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><b>25</b></td><td style="text-align: justify"><b>Contingencies, commitments and restrictions on the distribution of profits (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0 0pt 28.1pt; font-size: 10pt; text-align: justify; text-indent: -28.1pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b><i>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contingencies
(Cont.) </i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b><i>&nbsp;</i></b></p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-family: Wingdings">&#167;<font style="font-size: 10pt">
</font></font><i>Ongoing investigation </i></p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The Company is aware that Brazilian, Italian and Swiss
authorities have been investigating whether certain payments were made from accounts of entities presumably associated with affiliates
of the Company to accounts allegedly linked to individuals related to Petr&#243;leo Brasileiro S.A. (&#8220;Petrobras&#8221;)
and whether any such payments were intended to benefit the Company&#8217;s Brazilian subsidiary Confab. Any such payments could
violate certain applicable laws, including the U.S. Foreign Corrupt Practices Act.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The Company had previously reviewed certain of these
matters in connection with an investigation by the Brazilian authorities related to &#8220;Operation Lava Jato&#8221;, a new phase
of which is presently ongoing, and did not uncover any information that corroborated allegations of involvement in these alleged
payments by the Company or its subsidiaries. Furthermore, the Company became aware that a Petrobras internal investigation commission
reviewed certain contracts with Confab and concluded that they had not found evidence that Petrobras had benefitted Confab or had
misused applicable local content rules.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The Audit Committee of the Company's Board of Directors
engaged external counsel in connection with the Company&#8217;s review. In addition, the Company voluntarily notified the U.S.
Securities and Exchange Commission and the U.S. Department of Justice in October 2016.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">In July 2019, the Company learned that the public prosecutor office of Milan,
Italy, had completed a preliminary investigation into the alleged payments and had included in the investigation, among other persons,
the Company&rsquo;s Chairman and Chief Executive Officer, two other board members, Gianfelice Rocca and Roberto Bonatti, and the
Company&rsquo;s controlling shareholder, San Faustin. In February 2020, the Company learned that the magistrate overseeing the
investigation decided to move the case to trial. The Company&rsquo;s outside counsel had previously reviewed the Italian prosecutors&rsquo;
investigative file and has informed the Board that neither that file nor this magistrate&rsquo;s decision sets forth evidence of
involvement by any of the three directors in the alleged wrongdoing. Accordingly, the Board has concluded that no particular action
is warranted at the present time, other than inviting the referred board members to continue discharging their respective responsibilities
with the full support of the Board.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The Company continues to review these matters and to
respond to requests from and otherwise cooperate with the appropriate authorities. At this time, the Company cannot predict the
outcome of these matters or estimate the range of potential loss or extent of risk, if any, to the Company's business that may
result from resolution of these matters.</p>

<p style="margin: 0pt 0 0pt 0.3in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-family: Wingdings">&#167;
</font><i>Putative class actions</i></p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"><i>&nbsp;</i></p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Following the Company&#8217;s November 27, 2018 announcement
that its Chairman and CEO Paolo Rocca had been included in an Argentine court investigation known as the Notebooks Case (a decision
subsequently reversed by a higher court), two putative class action complaints were filed in the U.S. District Court for the Eastern
District of New York. On April 29, 2019, the court consolidated the complaints into a single case, captioned &#8220;In re Tenaris
S.A. Securities Litigation&#8221;, and appointed lead plaintiffs and lead counsel. On July 19, 2019, the lead plaintiffs filed
an amended complaint purportedly on behalf of purchasers of Tenaris securities during the putative class period of May 1, 2014
through December 5, 2018. The individual defendants named in the complaint are Tenaris&#8217;s Chairman and CEO and Tenaris&#8217;s
former CFO. The complaint alleges that during the class period, the Company and the individual defendants inflated the Tenaris
share price by failing to disclose that sale proceeds received by Ternium (in which Tenaris held an 11.46% stake) when Sidor was
expropriated by Venezuela were received or expedited as a result of allegedly improper payments made to Argentine officials. The
complaint does not specify the damages that plaintiff is seeking. Defendants&#8217; motions to dismiss are expected to be decided
during 2020. Management believes the Company has meritorious defenses to these claims; however, at this stage the Company cannot
predict the outcome of the claim or the amount or range of loss in case of an unfavorable outcome.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-family: Wingdings">&#167;<font style="font-size: 10pt">
</font></font><i>Investigation concerning alleged price overcharges in Brazil</i></p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt"><i>&nbsp;</i></p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">In 2018, two Brazilian subsidiaries of the Company were
notified of formal charges arising from a review by the Tribunal de Contas da Uniao (&#8220;TCU&#8221;) for alleged price overcharges
on goods supplied to Petr&#243;leo Brasileiro S.A- Petrobras under a supply contract. Both companies have already filed their
defenses. The estimated amount of this <font style="background-color: white">claim is BRL29.8 million</font> (approximately $7.4
million). Tenaris believes, based on the advice of counsel and external consultants, that the prices charged under the Petrobras
contract do not result in overprices and that it is unlikely that the ultimate resolution of this matter will result in a material
obligation.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<!-- Field: Page; Sequence: 156 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><b>25</b></td><td style="text-align: justify"><b>Contingencies, commitments and restrictions on the distribution of profits (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0 0pt 28.1pt; font-size: 10pt; text-align: justify; text-indent: -28.1pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 36pt"><b><i>(i)</i></b></td><td style="text-align: justify"><b><i>Contingencies (Cont.)</i></b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-family: Wingdings">&#167;
</font><i>Administrative proceeding concerning Brazilian tax credits</i></p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>&nbsp;</i></b></p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Confab is a party to an administrative proceeding concerning
the recognition and transfer of tax credits for an amount allegedly exceeding the amount that Confab would have been entitled to
recognize and/or transfer. The proceeding resulted in the imposition of a fine against Confab representing approximately 75% of
the allegedly undue credits, which was appealed by Confab. On January 21, 2019, Confab was notified of an administrative decision
denying Confab&#8217;s appeal, thereby upholding the tax determination and the fine against Confab. On January 28, 2019, Confab
challenged such administrative decision and is currently awaiting a resolution. In case of an unfavorable resolution, Confab may
still appeal before the courts. The estimated amount of this claim is BRL56.8 million (approximately $14.1&nbsp;million). At this
stage, the Company cannot predict the outcome of this claim.</p>

<p style="margin: 0pt 0 0pt 40.5pt; font-size: 10pt; text-align: justify"><b><i>&nbsp;</i></b></p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-family: Wingdings">&#167;<font style="font-size: 10pt">
</font></font><i>U.S. Patent infringement litigation</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Tenaris Coiled Tubes, LLC (&#8220;TCT&#8221;), a U.S.
subsidiary of the Company, was sued on 2017 by its competitor Global Tubing, alleging violations to certain intellectual property
regulations and seeking a declaration that certain Global Tubing products do not infringe patents held by TCT. TCT filed a counterclaim
seeking declaration that certain <i>Global</i> Tubing products infringe patents held by TCT, and Global Tubing responded alleging
that such patents should be invalidated. On December 13, 2019, Global Tubing filed an amended complaint (including the Company
as defendant) and alleging that TCT and the Company misled the patent office in order to monopolize the coiled tubing market for
quench and tempered products. Trial is set for August of 2021. At this time, the Company cannot predict the outcome of this matter
or estimate the range of potential losses that may result from resolution of this claim.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-family: Wingdings">&#167;
</font><i>Tax assessment from Italian Tax Authorities</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>&nbsp;</i></p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Tenaris&#8217;s Italian subsidiary Dalmine received on
December 27, 2019, a tax assessment from the Italian tax authorities related to fiscal year 2014. As of December 31, 2019, the
claim amounted to approximately EUR25 million (approximately $28 million), comprising EUR20.7 million (approximately $23.2 million)
in principal and EUR4.3 million (approximately $4.8 million) in interest and penalties. In the report for a tax audit conducted
in 2019, the Italian tax inspectors indicated that they also intend to bring claims for fiscal year 2015 with respect to the same
matters; as of December 31, 2019, these additional claims would amount to approximately EUR10.3 million (approximately $11.6 million),
comprising EUR8.1 million (approximately $9.1 million) in principal and EUR2.2 million (approximately $2.5 million) in interest
and penalties. The claims mainly refer to the compensation for certain intercompany transactions involving Dalmine in connection
with sales of products and R&amp;D activities. Based on the counsel&#8217;s advice, Tenaris believes that it is unlikely that the
ultimate resolution of these matters will result in a material obligation.</p>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 40.5pt"><b><i>(ii)</i></b></td><td><b><i>Commitments and guarantees</i></b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b><i>&nbsp;</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt">Set forth is a description of Tenaris&#8217;s main outstanding commitments:</p>

<p style="margin: 0pt 0 0pt 0.3in; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 13.5pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">A Tenaris company entered into a contract with Transportadora de Gas del Norte S.A. for the service
of natural gas transportation to the facilities of Siderca, an Argentine subsidiary of Tenaris. As of December 31, 2019, the aggregate
commitment to take or pay the committed volumes for a 9-year term totaled approximately $27.4 million.</td></tr></table>

<p style="margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 13.5pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Several Tenaris companies entered into a contract with Praxair S.A. for the service of oxygen and
nitrogen supply. As of December 31, 2019, the aggregate commitment to take or pay the committed volumes for a 14-year term totalled
approximately $53.7 million.</td></tr></table>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-indent: -13.5pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 13.5pt"><font style="font-family: Wingdings">&#167;</font></td><td>Several Tenaris companies entered into a contract with Graftech for the supply of graphite electrodes. As of December 31, 2019,
the aggregate commitment to take or pay the committed volumes totalled approximately $26.8 million.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<!-- Field: Page; Sequence: 157 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><b>25</b></td><td style="text-align: justify"><b>Contingencies, commitments and restrictions on the distribution of profits (Cont.)</b></td></tr></table>

<p style="margin: 0pt 0 0pt 28.1pt; font-size: 10pt; text-align: justify; text-indent: -28.1pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 36pt"><b><i>(ii)</i></b></td><td style="text-align: justify"><b><i>Commitments and guarantees (Cont.)</i></b></td></tr></table>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 13.5pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">A Tenaris company entered into a 25-year contract (effective as of December 1, 2016, through December
1, 2041) with Techgen for the supply of 197 MW (which represents 22% of Techgen&#8217;s capacity). Monthly payments are determined
on the basis of capacity charges, operation costs, back-up power charges, and transmission charges. As of the seventh contract
year (as long as Techgen&#8217;s existing or replacing bank facility has been repaid in full), the Tenaris company has the right
to suspend or early terminate the contract if the rate payable under the agreement is higher than the rate charged by the Comisi&#243;n
Federal de Electricidad (&#8220;CFE&#8221;) or its successors. The Tenaris company may instruct Techgen to sell to any affiliate,
to CFE, or to any other third party all or any part of unused contracted energy under the agreement and the Tenaris company will
benefit from the proceeds of such sale.</td></tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 13.5pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">A Tenaris company entered into a contract with Vale International S.A. for the supply of iron ore,
for which it is committed to purchase at least 70% of its annual iron ore needs, up to 770 thousand tons of pellets annually. The
contract expires on December 31, 2020. The aggregate commitment amounts to approximately $33.6 million.</td></tr></table>

<p style="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 13.5pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">A Tenaris company entered into a contract with Canadian National Railway for the service of rail
transportation from its raw material supplier to its Canadian production center.&nbsp;The total commitment ending June 30, 2020
is $18.9 million.</td></tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 13.5pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">A Tenaris company entered into a contract with Air Liquide Mexico, S. de R.L de C.V. for the supply
of argon gas. As of December 31, 2019, the aggregate commitment totaled approximately $21.2 million.</td></tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 4.5pt"></td><td style="width: 13.5pt"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">A Tenaris company is a party to a contract with Nucor Steel Memphis Inc. under which it is committed
to purchase on a monthly basis a minimum volume of steel bars at prices that will be adjusted quarterly by the parties. The contract
will become effective in January 2020 and will be in force until December 2022. As of December 31, 2019, the estimated aggregate
contract amount through December 31, 2022, calculated at current prices, is approximately $107.1 million.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt">Additionally Tenaris has issued performance guarantees mainly related to long term commercial
contracts with several customers and parent companies guarantees for approximately $2.5 billion.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b><i>(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="color: black">Restrictions
to the distribution of profits and payment of dividends</font></i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b><i>&nbsp;</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In accordance with Luxembourg Law, the Company is required to transfer
a minimum of 5% of its net profit for each financial year to a legal reserve until such reserve equals 10% of the issued share
capital.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019, this reserve is fully allocated and additional
allocations to the reserve are not required under Luxembourg law. Dividends may not be paid out of the legal reserve.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company may pay dividends to the extent, among other conditions,
that it has distributable retained earnings calculated in accordance with Luxembourg law and regulations.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.9pt"><b>26</b></td><td style="text-align: justify"><b>Agreement to build a welded pipe plant in West Siberia</b></td></tr></table>

<p style="margin: 0pt 0 0pt 20.75pt; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">On February
5, 2019 Tenaris entered into an agreement with PAO Severstal
to build a welded pipe plant to produce OCTG products in the Surgut area, West Siberia, Russian Federation. Tenaris holds a 49%
interest in the company, while PAO Severstal owns the remaining 51%. The regulatory approvals and other customary conditions have
been already obtained. The plant, which is estimated to require an investment of $280 million, is planned to have an annual production
capacity of 300,000 tons. During the period, Tenaris contributed approximately $19.6 million in the project.</font></p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal"></font></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<!-- Field: Page; Sequence: 158 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.9pt"><b>27</b></td><td style="text-align: justify"><b>Business combinations</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Acquisition of Saudi Steel Pipe Company</i></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-family: Wingdings">&#167;
</font>Acquisition</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On January 21, 2019, Tenaris acquired 47.79% of the shares of SSP,
a welded steel pipes producer listed on the Saudi stock market, for a total amount of SAR530 million (approximately $141 million).
The amount was paid with Tenaris cash in hand. SSP&#8217;s facilities are located in the Eastern Province of the Kingdom of Saudi
Arabia and have a manufacturing capacity of 360,000 tons per year. SSP started its operations in 1980 and serves energy industrial
and commercial segments, is qualified to supply products with major national oil companies in the region.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Upon closing of the acquisition, four Tenaris&#8217;s nominees were
appointed as new members of the SSP&#8217;s board of directors and a Tenaris senior executive was appointed as managing director
and chief executive officer of SSP. Such appointment was ratified at the shareholders meeting of SSP held on May 7, 2019, where
the shareholders also approved the reappointment of the Tenaris&#8217;s nominees until June 6, 2022.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has begun consolidating SSP&#8217;s balances and results
of operations as from January 21, 2019.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>&nbsp;</i></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td>Fair value of net assets acquired</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The application of the purchase method requires certain estimates
and assumptions specially concerning the determination of the fair values of the acquired intangible assets and property, plant
and equipment as well as the liabilities assumed at the date of the acquisition. The fair values determined at the acquisition
date are based mainly on discounted cash flows and other valuation techniques.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">The allocation of the fair values determined for the assets and liabilities arising from
the acquisition is as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Fair value of acquired assets and liabilities:</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">SAR million</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">$ million</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%; font-size: 10pt; text-align: left">Property, Plant and Equipment</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">671</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">179</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Customer relationship</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">305</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">81</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Investment in associated</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">77</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">21</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Working capital</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">167</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">45</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Cash and Cash Equivalents</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">32</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Other Receivables</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Borrowings</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(304</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(81</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Employees end of service benefits</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(59</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(16</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred Tax Liabilities</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(47</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(13</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Net assets acquired</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">853</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">228</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris acquired 47.79% of total assets and liabilities shown above,
approximately $109 million. As of the result of the acquisition, the Company recognized a Goodwill of approximately $32.9 million.
Tenaris has chosen to recognize the non-controlling interest at the proportionate share of the acquiree&#8217;s net identifiable
assets.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The acquired business contributed revenues for $170.6 million with
a minor contribution to Tenaris&#8217;s margin for the period starting January 21, 2019 and ending December 31, 2019.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">If the acquisition had occurred on January 1, 2019, consolidated
revenue and profit after tax would have not changed significantly.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">The purchase price allocation has been done with
the assistance of a third party expert.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><i>Acquisition of Garrett</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In September 2017, Tenaris acquired 100% of Garrett (a pipe services
and trucking business) through the payment of a price of $10.4 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><br>
If the acquisition had occurred on January 1, 2017, Tenaris&#8217;s unaudited pro forma net sales and net income from continuing
operations would not have changed materially.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<!-- Field: Page; Sequence: 159 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt">28</td><td style="text-align: justify">Cash flow disclosures</td></tr></table>

<p style="margin: 0pt 0 0pt 2.75pt; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">&nbsp;</font></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: left; font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: left; font-size: 10pt">(i)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Changes in working capital</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 3%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 56%; font-size: 10pt">Inventories</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">311,459</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(176,443</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">(804,415</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Receivables and prepayments and Current tax assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(34,368</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">30,144</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,564</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Trade receivables</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">428,326</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(517,579</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(259,375</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Other liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(18,295</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(22,984</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,226</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Customer advances</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16,844</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,976</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">17,039</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Trade payables</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(180,857</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(57,066</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">193,905</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">523,109</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(737,952</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(853,184</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">(ii)</font></td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Income tax accruals less payments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Tax accrued</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">202,452</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">229,207</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(17,136</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Taxes paid</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(395,869</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(170,713</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(176,853</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(193,417</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">58,494</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(193,989</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">(iii)</font></td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Interest accruals less payments, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Interest accrued</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,616</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,914</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(20,534</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Interest received</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">30,890</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">40,613</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">50,001</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest paid</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(30,655</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(31,548</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(17,917</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(4,381</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,151</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">11,550</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left"><font style="font-size: 10pt">(iv)</font></td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Cash and cash equivalents</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Cash at banks, liquidity funds and short - term investments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,554,299</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">428,361</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">330,221</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bank overdrafts</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(24</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,644</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(131</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,554,275</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">426,717</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">330,090</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0 0pt 2.75pt; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</p></div><p style="margin: 0pt 0 0pt 2.75pt; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt">29</td><td style="text-align: justify">Discontinued Operations</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On December 15, 2016, Tenaris entered into an agreement with Nucor
Corporation (&#8220;NC&#8221;) pursuant to which it has sold to NC the steel electric conduit business in North America, known
as Republic Conduit for an amount of $328 million (net of transaction costs). The sale was completed on January 19, 2017, with
effect from January 20, 2017. The result of this transaction was an after-tax gain of $89.7 million, calculated as the net proceeds
of the sale less the book value of net assets held for sale, the corresponding tax effect and related expenses.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2017</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 83%; font-size: 10pt; text-align: left">&nbsp;Income from discontinued operations</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">1,848</td><td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;After tax gain on the sale of Conduit</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">89,694</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;Net Income for discontinued operations</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">91,542</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt">Details of Conduit sale</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 83%; font-size: 10pt; text-align: left">Cash received</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">331,295</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Transaction and other costs</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,663</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt">Carrying amount of net assets sold</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(137,814</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Gain on sale before income tax</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">189,817</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt">Income tax expense on gain</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(100,123</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Gain on sale after income tax</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">89,694</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt">The financial performances presented are relative to the 19 days of January 2017.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>Analysis of the result of discontinued operations:</b></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 83%; font-size: 10pt">Revenues</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">11,899</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Gross profit</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,496</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">Net income</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,848</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"></p>

<!-- Field: Page; Sequence: 160 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt">29</td><td style="text-align: justify">Discontinued Operations (Cont.)</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Summarized cash flow information is as follows<b>:</b></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 83%; font-size: 10pt; text-align: left">Cash at the beginning</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">18,820</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Cash at the end</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">206</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">(Decrease) Increase in cash</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(18,614</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">(Used in) provided by operating activities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,046</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Provided by (used in) investing activities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">32</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Used in financing activities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(15,600</td><td style="font-size: 10pt; text-align: left">)</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">These amounts were estimated only for disclosure purposes, as cash
flows from discontinued operations were not managed separately from other cash flows.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The following table shows carrying amounts of assets and liabilities
as at the date of sale.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>Current and non-current assets and liabilities of disposal group</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">At January 19, 2017</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 83%; font-size: 10pt; text-align: left">Non-current assets</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 14%; font-size: 10pt; text-align: right">87,332</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current assets</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">69,332</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets of disposal group classified as held for sale</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">156,664</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Non-current liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,294</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current liabilities</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">13,556</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities of disposal group classified as held for sale</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">18,850</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>&nbsp;</b></p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b></b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2.75pt"></td></tr></table><div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 2.75pt"></td><td style="width: 36pt">30</td><td style="text-align: justify">Related party transactions</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">San Faustin S.A., a Luxembourg soci&#233;t&#233; anonyme (&#8220;San Faustin&#8221;), owned
713,605,187 shares in the Company, representing 60.45% of the Company&#8217;s capital and voting rights.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">San Faustin owned all of its shares in the Company through its wholly-owned subsidiary Techint
Holdings S.&#224;.r.l., a Luxembourg soci&#233;t&#233; &#224; responsabilit&#233; limit&#233;e (&#8220;Techint&#8221;),
who is the holder of record of the above-mentioned Tenaris shares.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Rocca &amp; Partners Stichting Administratiekantoor Aandelen San Faustin, a private foundation
located in the Netherlands (Stichting) (&#8220;RP STAK&#8221;) held voting shares in San Faustin sufficient in number to control
San Faustin.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">No person or group of persons controls RP STAK.</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">Based on the information most recently available to the Company, Tenaris&#8217;s directors
and senior management as a group owned 0.08% of the Company&#8217;s outstanding shares.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Transactions and balances disclosed as with &#8220;non-consolidated
parties&#8221; are those with companies over which Tenaris exerts significant influence or joint control in accordance with IFRS,
but does not have control. All other transactions and balances with related parties which are not non-consolidated parties and
which are not consolidated are disclosed as &#8220;Other&#8221;. The following transactions were carried out with related parties:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td style="font-size: 10pt">(all amounts in thousands of U.S. dollars)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: justify">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 10pt"><b>(i)</b></font></td>
    <td style="font-size: 10pt; font-weight: bold; text-align: justify">Transactions</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold">(a) Sales of goods and services</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 5%">&nbsp;</td>
    <td style="width: 59%; font-size: 10pt; text-align: left">Sales of goods to non-consolidated parties</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">20,577</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">23,709</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">32,362</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Sales of goods to other related parties</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">69,972</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">131,548</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">94,624</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Sales of services to non-consolidated parties</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,620</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,641</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,637</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Sales of services to other related parties</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,386</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,647</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,751</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">100,555</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">168,545</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">142,374</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">(b) Purchases of goods and services</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Purchases of goods to non-consolidated parties</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">174,588</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">245,186</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">234,361</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Purchases of goods to other related parties</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">51,765</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">106,624</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">17,711</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Purchases of services to non-consolidated parties</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,404</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,556</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,077</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Purchases of services to other related parties</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">54,514</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">46,179</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">50,794</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">290,271</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">407,545</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">314,943</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<!-- Field: Page; Sequence: 161 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">30<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font> Related party transactions (Cont.)</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">&nbsp;</font></p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td style="font-size: 10pt">(all amounts in thousands of U.S. dollars)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 10pt"><b>(ii)</b></font></td>
    <td style="font-size: 10pt; font-weight: bold">Period-end balances</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold">(a) Arising from sales / purchases of goods / services</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 5%">&nbsp;</td>
    <td style="width: 71%; font-size: 10pt; text-align: left">Receivables from non-consolidated parties</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">78,884</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 9%; font-size: 10pt; text-align: right">122,136</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Receivables from other related parties</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,400</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24,419</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Payables to non-consolidated parties</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(19,100</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(33,197</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Payables to other related parties</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(7,048</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(17,595</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">63,136</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">95,763</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">(b) Financial debt</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Finance lease liabilities from non-consolidated parties</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,064</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">(2,064</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">&nbsp;</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><font style="font-weight: normal">In addition
to the tables above, Tenaris issued various guarantees and is party to a commitment in favor of Techgen: for further details, please
see note 12(c) and 25(ii). No other material guarantees were issued in favor of other related parties.</font></p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">Directors&#8217; and senior
management compensation</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">During the years ended December 31, 2019, 2018 and 2017, the cash
compensation of Directors and Senior managers amounted to $33.7 million, $33.7 million and $45.8 million respectively. These amounts
include cash benefits paid to certain senior managers in connection with the pre-existing retirement plans. In addition, Directors
and Senior managers received 468, 558 and 484 thousand units for a total amount of $4.8 million, $5.6 million and $4.7 million
respectively in connection with the Employee retention and long term incentive program mentioned in Note O Employee benefits &#8211;
Other long term benefits.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2.75pt"></td><td style="width: 36pt"><b>31</b></td><td><b>Fees paid to the Company's principal accountant</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><b>&nbsp;</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Total fees accrued for professional services rendered by PwC Network
firms to Tenaris S.A. and its subsidiaries are detailed as follows:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">(all amounts in thousands of U.S. dollars)</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 61%; font-size: 10pt; text-align: left">Audit fees</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">3,846</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">3,841</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 10%; font-size: 10pt; text-align: right">3,995</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Audit-related fees</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">50</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">43</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">88</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Tax fees</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">23</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">All other fees</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">30</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,904</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,891</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right">4,136</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<!-- Field: Page; Sequence: 162 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2.75pt"></td></tr></table><div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 2.75pt"></td><td style="width: 36pt">32</td><td>Principal subsidiaries</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The following is a list of Tenaris&#8217;s principal subsidiaries
and its direct and indirect percentage of ownership of each controlled company at December 31, 2019.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<div data-td-taggable-table=""><table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Company</b></font></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Country of<br>
 Incorporation</b></font></td>
    <td style="border-top: black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Main activity</b></font></td>
    <td colspan="3" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Percentage of ownership at<br>
 December 31, (*)</b></font></td>
    </tr>
<tr>
    <td style="vertical-align: bottom; width: 41%; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 27%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2019</b></font></td>
    <td style="vertical-align: bottom; width: 6%; border-right: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td>
    <td style="vertical-align: bottom; width: 8%; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">ALGOMA TUBES INC.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Canada</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">CONFAB INDUSTRIAL S.A. and subsidiaries</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Brazil</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of welded steel pipes and capital goods</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">DALMINE S.p.A.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Italy</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">HYDRIL COMPANY and subsidiaries (except detailed) (a)</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">USA</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacture and marketing of premium connections</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">KAZAKHSTAN PIPE THREADERS LIMITED LIABILITY PARTNERSHIP</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Kazakhstan</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Threading of premium products</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">MAVERICK TUBE CORPORATION and subsidiaries</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">USA</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of welded steel pipes </font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">NKKTUBES</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Japan</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">51%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">51%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">51%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">P.T. SEAMLESS PIPE INDONESIA JAYA</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Indonesia</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of seamless steel products</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">89%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">89%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">89%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">PRUDENTIAL STEEL LTD.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Canada</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of welded steel pipes </font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">S.C. SILCOTUB S.A.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Romania</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">SAUDI STEEL PIPE CO.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Saudi Arabia</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of welded steel pipes </font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">48%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">NA</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">NA</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">SIAT SOCIEDAD ANONIMA</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Argentina</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of welded and seamless steel pipes </font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL and subsidiaries</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Argentina</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TALTA - TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Portugal</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Holding Company</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS BAY CITY, INC.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">USA</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS CONNECTIONS BV</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Netherlands</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Development, management and licensing of intellectual property</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS FINANCIAL SERVICES S.A.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Uruguay</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Financial company</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS GLOBAL SERVICES (CANADA) INC.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Canada</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Marketing of steel products</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">USA</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Marketing of steel products</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS GLOBAL SERVICES (UK) LTD</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">United Kingdom</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Holding company and marketing of steel products</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS GLOBAL SERVICES S.A. and subsidiaries (except detailed) (b)</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Uruguay</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Holding company and marketing of steel products</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS INVESTMENTS (NL) B.V.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Netherlands</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Holding company</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">NA</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">NA</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS INVESTMENTS S.&#224;r.l.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Luxembourg</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Holding company</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Switzerland</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Holding company</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">TENARIS TUBOCARIBE LTDA.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Colombia</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><font style="font-size: 10pt">Manufacturing of welded and seamless steel pipes</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
<tr style="background-color: White">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font-size: 10pt">TUBOS DE ACERO DE MEXICO, S.A.</font></td>
    <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid"><font style="font-size: 10pt">Mexico</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><font style="font-size: 10pt">Manufacturing of seamless steel pipes</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">100%</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">100%</font></td>
    </tr>
</table></div>
<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">(*) All percentages rounded.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">(a) Tenaris Investments S.&#224;.r.l. holds 100% of Hydril's subsidiaries
shares except for Technical Drilling &amp; Production Services Nigeria. Ltd where it holds 80%.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">(b) Tenaris Investments S.&#224;.r.l holds 97,5% of Tenaris Supply
Chain S.A. and 40% of Tubular Technical Services Ltd. and Pipe Coaters Nigeria Ltd., 49% of Amaja Tubular Services Limited, 49%
Tubular Services Angola Lda.</p>



<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-indent: 0in">&nbsp;</p></div><p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-indent: 0in"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2.75pt"></td><td style="width: 36pt">33</td><td>Nationalization of Venezuelan Subsidiaries</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In May 2009, within the framework of Decree Law 6058, Venezuela&#8217;s
President announced the nationalization of, among other companies, the Company's majority-owned subsidiaries TAVSA - Tubos de Acero
de Venezuela S.A. (&#8220;Tavsa&#8221;) and, Matesi Materiales Sider&#250;rgicos S.A (&#8220;Matesi&#8221;), and Complejo Sider&#250;rgico
de Guayana, C.A (&#8220;Comsigua&#8221;), in which the Company has a non-controlling interest (collectively, the &#8220;Venezuelan
Companies&#8221;). Tenaris and its wholly-owned subsidiary, Talta - Trading e Marketing Sociedad Unipessoal Lda (&#8220;Talta&#8221;),
initiated arbitration proceedings against Venezuela before the ICSID in Washington D.C. in connection with these nationalizations.</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<!-- Field: Page; Sequence: 163 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt">33</td><td>Nationalization of Venezuelan Subsidiaries (Cont.)</td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>&nbsp;</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>Matesi</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On January 29, 2016, the tribunal released its award on the arbitration
proceeding concerning the nationalization of Matesi. The award upheld Tenaris&#8217;s and Talta&#8217;s claim that Venezuela had
expropriated their investments in Matesi in violation of Venezuelan law as well as the bilateral investment treaties entered into
by Venezuela with the Belgium-Luxembourg Economic Union and Portugal. The award granted compensation in the amount of $87.3 million
for the breaches and ordered Venezuela to pay an additional amount of $85.5 million in pre-award interest, aggregating to a total
award of $172.8 million, payable in full and net of any applicable Venezuelan tax, duty or charge. The tribunal granted Venezuela
a grace period of six months from the date of the award to make payment in full of the amount due without incurring post-award
interest, and resolved that if no, or no full, payment is made by then, post-award interest will apply at the rate of 9% per annum
compounded at six-monthly rests from the date of the award until payment in full. As of December 31, 2019, post-award interest
amounted to approximately $71 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On March 14, 2016, Venezuela requested the rectification of the
award pursuant to article 49(2) of the ICSID Convention and ICSID Arbitration Rule 49. The tribunal denied Venezuela&#8217;s request
on June 24, 2016, ordering Venezuela to reimburse Tenaris and Talta for their costs incurred in connection with the rectification
proceedings. On September 21, 2016, Venezuela submitted a request for annulment of the award as well as the stay of enforcement
of the award in accordance with the ICSID Convention and Arbitration Rules. On March 24, 2017, an ad hoc committee constituted
to decide on Venezuela&#180;s requests rendered its decision to lift the stay of enforcement of the award. On August 8, 2018,
the ad hoc committee rejected Venezuela&#8217;s application to annul the award.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On June 8, 2018, Tenaris and Talta filed an action in federal
court in the District of Columbia to recognize and enforce the award. Tenaris and Talta have effected service on Venezuela in
accordance with US law, and Venezuela has failed to file an answer in the proceeding.&nbsp;Tenaris and Talta have moved for
default judgment.&nbsp;Venezuela did not oppose the entry of default judgment. Accordingly, it is expected that the award
will be converted into a judgment. The judgment, however, may not be enforced in the U.S. to the extent prohibited by the
Venezuelan sanctions regulations issued by the U.S. Treasury Department&#8217;s Office of Foreign Assets Control.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b><i>Tavsa and Comsigua</i></b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On December 12, 2016, the tribunal issued its award upholding Tenaris&#8217;s
and Talta&#8217;s claim that Venezuela had expropriated their investments in Tavsa and Comsigua in violation of the bilateral investment
treaties entered into by Venezuela with the Belgium-Luxembourg Economic Union and Portugal. The award granted compensation in the
amount of $137 million and ordered Venezuela to reimburse Tenaris and Talta $3.3 million in legal fees and ICSID administrative
costs. In addition, Venezuela was ordered to pay interest from April 30, 2008 until the day of effective payment at a rate equivalent
to LIBOR + 4% per annum, which as of December 31, 2019 amounted to approximately $118 million.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On April 11, 2017, Venezuela submitted a request for annulment of
the award as well as the stay of enforcement of the award in accordance with the ICSID Convention and Arbitration Rules. On February
23, 2018, an ad hoc committee constituted to decide on Venezuela&#8217;s requests rendered its decision to lift the stay of enforcement
of the award. On December 28, 2018, the ad hoc committee rejected Venezuela&#8217;s application to annul the award.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On June 8, 2018, Tenaris and Talta filed an action in federal court
in the District of Columbia to recognize and enforce the award. Tenaris and Talta have effected service on Venezuela in accordance
with US law, and Venezuela has failed to file an answer in the proceeding.&nbsp;Tenaris and Talta have moved for default judgment.&nbsp;Venezuela
did not oppose the entry of default judgment. Accordingly, it is expected that the award will be converted into a judgment. The
judgment, however, may not be enforced in the U.S. to the extent prohibited by the Venezuelan sanctions regulations issued by the
U.S. Treasury Department&#8217;s Office of Foreign Assets Control.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">As of December 31, 2019, Tenaris or its subsidiaries have net receivables
related to its interest in the Venezuelan Companies for a total amount of approximately $49 million. See Note III.B.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt"><b>&nbsp;</b></p>

<!-- Field: Page; Sequence: 164 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"><b></b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2.75pt"></td></tr></table><div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 2.75pt"></td><td style="width: 36pt"><b>34</b></td><td style="text-align: justify"><b>Delisting of Tenaris&#8217;s shares from the Buenos Aires stock exchange</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On July 29, 2019, the General Shareholders Meeting approved the
delisting of the Company&#8217;s shares from the Buenos Aires stock exchange, Bolsas y Mercados Argentinos S.A. (&#8220;BYMA&#8221;),
through a voluntarily withdrawal from listing of the Argentine National Securities Commission (Comisi&#243;n Nacional de Valores,
or &#8220;CNV&#8221;) pursuant to Article 32, clause c), Section VIII, Chapter II of Title III of the rules (Normas) of the CNV,
which permits the Company to delist from BYMA without making a delisting public tender offer. On September 19, 2019, the CNV authorized
the delisting of the Company&#8217;s shares in Argentina, and such delisting became effective as of the close of business on October
10, 2019.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Although shareholders holding shares through Caja de Valores S.A.
(&#8220;CVSA&#8221;) on June 11, 2019 who were absent from the General Shareholders Meeting were entitled to appraisal rights provided
pursuant to article 22 of the Company&#8217;s articles of association, no shareholder eligible to do so exercised such right.</p></div><p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2.75pt"></td></tr></table><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 2.75pt"></td></tr></table><div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 2.75pt"></td><td style="width: 36pt"><b>35</b></td><td style="text-align: justify"><b>Subsequent events</b></td></tr></table>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"><i>Acquisition of IPSCO Tubulars, Inc.</i></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">&#167;</font></td><td style="text-align: justify">Acquisition</td></tr></table>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">On January 2, 2020, Tenaris acquired 100% of the shares of IPSCO Tubulars,
Inc. (&#8220;IPSCO&#8221;), a U.S. manufacturer of steel pipes, from PAO TMK (&#8220;TMK&#8221;). The acquisition price was determined
on a cash-free, debt-free basis, and the amount paid in cash at the closing, following contractual adjustments for cash, indebtedness,
working capital and certain other items as estimated by the seller as of the closing date, was $1,067 million. The final acquisition
price is subject to a contractual true-up adjustment based on actual amounts of cash, indebtedness, working capital and certain
other items as of the closing date.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">IPSCO&#8217;s facilities are located mainly in the midwestern and
northeastern regions of the country. IPSCO&#8217;s steel shop in Koppel, Pennsylvania, is Tenaris&#8217;s first in the United States,
providing vertical integration through domestic production of a relevant part of its steel bar needs. Its Ambridge, Pennsylvania,
mill adds a second seamless manufacturing facility and complements Tenaris&#8217;s seamless plant in Bay City, Texas.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">In connection with the closing of the transaction, the parties entered
into a 6-year master distribution agreement (the &#8220;MDA&#8221;) whereby, beginning on January 2, 2020, Tenaris will be the
exclusive distributor of TMK&#8217;s OCTG and line pipe products in United States and Canada. At the end of the MDA&#8217;s 6-years
term, TMK will have the option to extend the duration of its term for an additional 12 months. Under the MDA, Tenaris is required
to purchase specified minimum volumes of TMK-manufactured OCTG and line pipe products.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The Company will begin consolidating IPSCO&#8217;s balances and
results of operations as from January 2, 2020. The Company has retained a third party expert to estimate the purchase price allocation.
As of the date of publication of these Consolidated Financial Statements, the purchase price allocation is still in progress.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">The short period of time between the acquisition date and the date
of approval of these Consolidated Financial Statements, as well as the considerable size and complexity of the acquired business,
makes it impracticable for the Company to provide all disclosures required by IFRS 3 applicable to a business combination that
occurred subsequent to year end.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify">Following the preparation of the initial purchase price allocation,
the Company will continue its review and will make any necessary adjustments during the following 12 months, in accordance with
IFRS 3.</p>

<p style="margin: 0pt 0; font-size: 10pt"><i></i></p>

<p style="margin: 0pt 0; font-size: 10pt"><i>&nbsp;</i></p></div><p style="margin: 0pt 0; font-size: 10pt"><i></i></p>

<!-- Field: Page; Sequence: 165 -->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 8pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><p style="margin: 0pt">&nbsp;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"><tr style="vertical-align: top; text-align: left"><td style="font-size: 9pt; width: 100%; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</td></tr></table><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<div data-td-statement-type="note"><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><b>36</b></td><td style="text-align: justify"><b>Update as of April 29, 2020<font style="font-size: 10pt"><sup>1</sup></font></b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&nbsp;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>The COVID-19 pandemic and the oil &amp;
gas crisis and their impact on Tenaris&#8217;s operations and financial condition</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A novel strain of coronavirus (SARS-CoV-2) surfaced in China
in December 2019 and subsequently spread to the rest of the world in early 2020. In March 2020, the World Health Organization declared
COVID-19, the disease caused by the SARS-CoV-2 virus, a global pandemic. In response to the COVID-19 outbreak, countries have taken
different measures in relation to prevention and containment. For example, several countries introduced bans on business activities
or locked down cities or countries, including countries where Tenaris has operations (such as Argentina, China, Colombia, Italy,
Mexico and the United States). The rapid expansion of the virus and the measures taken to contain it have triggered a severe fall
in global economic activity and a serious crisis in the energy sector.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While the extent of the effects of COVID-19 on the global economy and oil demand were still
unclear, in March 2020, the members of OPEC+ (OPEC plus other major oil producers including Russia) did not agree to extend their
agreement to cut oil production and Saudi Arabia precipitated a wave of additional supply on the market triggering a collapse in
oil prices below $30 per barrel. This exacerbated what soon became clear was an unprecedented situation of oversupply, caused primarily
by the sudden and dramatic fall in oil consumption consequent to the measures taken to contain the spread of the virus around the
world. Although OPEC+ subsequently reached an equally unprecedented agreement to cut production by as much as 9.7 million barrels
per day, a situation of acute oversupply remains, causing oil prices to hit record lows. By the end of trading on April 20, 2020,
the West Texas Intermediate (WTI) forward price for delivery in May, which had to be closed out the following day, fell to a negative
value for the first time in history, as oil storage facilities were completely committed, and producers were forced to pay buyers
to take their barrels. It is not known how long it will take for oil and gas demand to recover or achieve a more balanced position
between supply and demand. As a result, prices are expected to remain at low levels for an extended period. In these circumstances,
most of our customers have announced, or are making, significant cuts to their investment plans and are likely to announce further
cuts. Similarly, several of our suppliers are closing, either temporarily or permanently, some of their facilities, which may result
in unavailability or increased prices for our raw materials and other inputs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD><I>Status of our operations&nbsp;</I></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are adjusting our operations on a country-by-country basis to comply with applicable rules
and requirements and adapt to this new, rapidly evolving scenario. As of the date of these Consolidated Financial Statements, this
is the status of our facilities:</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td><font style="font-family: Times New Roman, Times, Serif">In China, we are again fully operational, after several weeks of interruption
and an extraordinary combined effort of our people and of our community. </font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td><font style="font-family: Times New Roman, Times, Serif">In  Italy, production was greatly reduced; although our Dalmine facility was used exclusively
for the manufacturing of oxygen tanks to aid local hospitals and health centers for a limited period of time, currently the facility
is gradually resuming normal operations. In Argentina, Colombia, Mexico and Saudi Arabia, Tenaris decreased its activity following
the imposition of mandatory lockdowns, and our plants in these countries are currently operating at reduced levels. Although the
lockdowns or restrictions to operate in these countries are expected to end or be relaxed in the next few weeks, these could be
extended and/or made more stringent if so decided by the appropriate authorities as the circumstances could require.</font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td><font style="font-family: Times New Roman, Times, Serif">In  the United States, our facilities in Koppel and Ambridge (PA), Brookfield (OH), Blytheville
(AR), Wilder (KY), and Odessa and Baytown (TX), have been or will be temporarily closed until market conditions improve. In addition,
Tenaris is in the process of performing employee reductions and adjusting production levels at its other facilities in line with
market demand. </font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In  order to safeguard the health and safety of its employees, customers and suppliers, Tenaris
has taken preventive measures, including remote working for the majority of white collar employees, restricting onsite access to
essential operational personnel, keeping personnel levels at a minimum, implementing a special operations protocol to ensure social
distancing and providing medical assistance and supplies to onsite employees. As of the date of these Consolidated Financial Statements,
remote work and other work arrangements have not materially adversely affected Tenaris&rsquo;s ability to conduct operations. In
addition, these alternative working arrangements have not adversely affected our financial reporting systems, internal control
over financial reporting or disclosure controls and procedures.</p>




<hr align="LEFT" size="1" style="width: 33%">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><sup>1</sup></font>
This note was added subsequent to the approval of these Consolidated Financial Statements by the Company&#8217;s Board of Directors
on February 19, 2020.</p>



<p style="margin: 0pt 0; font-size: 10pt; text-align: justify"></p>

<p style="margin: 0pt 0 0pt 283.5pt; font-size: 10pt; text-align: right; text-indent: 4.5pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<!-- Field: Page; Sequence: 166 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; border-bottom: Black 1pt solid"><p style="margin: 0pt; font-size: 9pt; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</p></div>
    <!-- Field: /Page -->

<div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><b>36</b></td><td style="text-align: justify"><b>Update as of April 29, 2020 (Cont.)</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&nbsp;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>The COVID-19 pandemic and the oil &amp;
gas crisis and their impact on Tenaris&#8217;s operations and financial condition (Cont.)</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">-</td><td style="text-align: justify"><i>Risks associated with the COVID-19 pandemic and the oil &amp; gas crisis</i></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Given the uncertainty around the extent and timing of the future
spread of the SARS-CoV-2 virus and the unprecedented extent of the oversupply on the oil market and the uncertainty about the timing
and extent of any recovery in demand, it is not possible at this time to predict the full magnitude of the adverse effects that
these two circumstances will have on our industry generally, nor to reasonably estimate the impact on Tenaris&#8217;s results of
operations, cash flows or financial condition.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The COVID-19 pandemic and the ongoing oil &amp; gas crisis poses
the following main risks and challenges to Tenaris:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td><font style="font-family: Times New Roman, Times, Serif">Global oil or gas demand may fail to recover or even decrease further in the future, driving
down prices even more or keeping them at very low levels, which would exert downward pressure on sales and margins of oil and gas
companies, leading to further reductions and even generalized suspension of drilling activities (in the U.S. or elsewhere) and,
as a result, materially adversely affecting our sales and financial position.</font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td><font style="font-family: Times New Roman, Times, Serif">Tenaris or its employees, contractors, suppliers, customers and other
business partners may be prevented from conducting certain business activities for a prolonged or indefinite period of time. In
addition, employees in some or all of our facilities, or those of our contracts, suppliers, customers or other business partners,
may refuse to work due to health concerns while the COVID-19 outbreak is ongoing, If that happens, the continuity of our future
operations may be severely affected.</font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Symbol">&#183;</font></td><td><font style="font-family: Times New Roman, Times, Serif">A continuing spread of COVID-19 may affect the availability and price of raw materials, energy
and other inputs used by Tenaris in its operations. Any such disruption or increased prices could adversely affect Tenaris&rsquo;s
profitability.</font></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD><I>Mitigating actions</I></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to mitigate the impact of expected lower sales, Tenaris is working on a worldwide
rightsizing program and cost containment plan aimed at preserving its financial resources and overall liquidity position and maintaining
the continuity of its operations. The actions include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Adjusting the level of our operations
and workforce around the world, including through the temporary closure of certain U.S. facilities or production lines, as indicated
above;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Introducing efficiency and productivity
improvements throughout Tenaris&rsquo;s industrial system;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Downsizing our fixed cost structure, including
through pay reductions for senior management and board members, aggregating estimated total annual savings of approximately $220
million by year-end; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Reducing capital expenditures and R&amp;D
expenses for approximately $150 million when compared to 2019 levels; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Reducing working capital, especially inventories,
in accordance with the expected levels of activity; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Increasing our focus on managing customer
credit conditions. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As part of these liquidity preservation initiatives, the board
of directors resolved to propose, for approval by the Annual Shareholders Meeting to be held on June 2, 2020, that no further dividends
be distributed in respect of fiscal year 2019 on top of the interim dividend of approximately $153 million already paid in November
2019.</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of the date of these Consolidated Financial Statements, our capital and financial resources,
and overall liquidity position, have not been materially affected by this new scenario. Tenaris has in place non-committed credit
facilities and management believes it has adequate access to the credit markets. In addition, Tenaris has a net cash position of
approximately $271 million as of the end of March 2020 and a manageable debt amortization schedule. Considering our financial position
and the funds provided by operating activities, management believes that we have sufficient resources to satisfy our current working
capital needs, service our debt and address short-term changes in business conditions.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></p></div>

<!-- Field: Page; Sequence: 167 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; border-bottom: Black 1pt solid"><p style="margin: 0pt; font-size: 9pt; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</p></div>
    <!-- Field: /Page -->

<div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><b>36</b></td><td style="text-align: justify"><b>Update as of April 29, 2020 (Cont.)</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Acquisition of IPSCO Tubulars, Inc.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
<TD STYLE="width: 0.25in"></td><TD STYLE="width: 0.5in">(i)</td><TD>Closing Statement</td></tr>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 16, 2020, Tenaris delivered, for
TMK&#8217;s review, a closing statement prepared in accordance with the acquisition agreement, including Tenaris&#8217;s calculation
of the closing price based on actual amounts of cash, indebtedness, working capital and certain other items as of the closing date.&nbsp;In
case of disagreement, the parties are expected to engage in good-faith negotiations to solve any discrepancies. If the parties
cannot resolve the disputed amounts, the discrepancies must be submitted to and resolved by an independent accounting firm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.5in">(ii)</td><td style="text-align: justify">Purchase Price Allocation</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at March 31, 2020, the preliminary purchase
price allocation was carried out with the assistance of a third-party expert.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The application of the purchase method requires certain estimates
and assumptions, including estimates and assumptions concerning the determination of the fair values of the acquired intangible
assets and property, plant and equipment as well as the liabilities assumed at the date of the acquisition. The fair values determined
at the acquisition date are based mainly on discounted cash flows and other valuation techniques.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preliminary allocation of the fair values determined for
the assets and liabilities arising from the acquisition is as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%">
<tr style="vertical-align: bottom">
    <td style="font-weight: bold">Fair value of acquired assets and liabilities:</td><td style="font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">$ million</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 77%; text-align: left">Property, Plant and Equipment</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 20%; text-align: right">506</td><td style="width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Intangible assets</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">170</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Working capital</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">144</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Cash and Cash Equivalents</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Other assets</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">46</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Borrowings</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(53</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Provisions</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(27</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Other liabilities</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(77</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1pt">Deferred tax liabilities</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(3</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net assets acquired</td><td style="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">710</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris acquired total assets and liabilities shown above, for
approximately $1,067 million. As a result of the acquisition, the Company recognized goodwill for approximately $357 million. The
goodwill is not expected to be deductible for tax purposes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The goodwill generated by the acquisition is mainly attributable
to the synergy created following the integration between Tenaris and IPSCO, which is expected to enhance Tenaris&#8217;s position
as well as its local manufacturing presence in the U.S. market, and also expand its product range and services capabilities. The
goodwill has been allocated to the Tubes segment. After the conclusion of the preliminary purchase price allocation determination
and as a consequence of the unprecedented decline in oil prices and other changes in circumstances, the management has decided
to impair the goodwill mentioned above.&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following IFRS 3, the Company will continue
reviewing the allocation and make any necessary adjustments (mainly over property, plant and equipment and intangible assets) during
the twelve months following the acquisition date.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Acquisition-related costs of $9.7 million were included in general
and administrative expenses ($9.4 million and $ 0.3 million in 2019 and 2020 respectively).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><i>&nbsp;</i></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.5in">(iii)</td><td>Temporary suspension of operations at certain facilities</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Given the abrupt and steep decline in market demand, the facilities
in Koppel and Ambridge (PA), Brookfield (OH), Blytheville (AR), Wilder (KY), and Odessa and Baytown (TX), were temporarily closed
until market conditions improve.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p></div>

<!-- Field: Page; Sequence: 168 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; border-bottom: Black 1pt solid"><p style="margin: 0pt; font-size: 9pt; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</p></div>
    <!-- Field: /Page -->

<div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 38.75pt"><b>36</b></td><td><b>Update as of April 29, 2020 (Cont.)</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.75pt"><i>&nbsp;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Impairment of Assets</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&nbsp;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a result of the severe deterioration of business conditions
and in light of the presence of impairment indicators for its U.S. operations, Tenaris recorded impairment charges as of March
31, 2020, in the carrying values of goodwill and other asset values at the cash-generating units OCTG USA (Maverick), IPSCO, Rods
USA and Coiled Tubing, for an aggregate amount of approximately $622 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These Consolidated Financial Statements do not reflect these
impairment charges.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Closure of facilities at JFE&#8217;s
Keihin steel complex</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Our seamless pipe manufacturing facility in Asia, operated by NKKTubes,
is located in Kawasaki, Japan, in the Keihin steel complex owned by JFE. Steel bars and other essential inputs and services for
NKKTubes are supplied under a long-term agreement by JFE, which retains a 49% interest in NKKTubes. On March 27, 2020, JFE informed
Tenaris of its decision to permanently cease, as from JFE&rsquo;s fiscal year ending March 2024, the operations of certain of its
steel manufacturing facilities and other facilities located at the Keihin complex. The closure of JFE&rsquo;s Keihin facilities
may result in the unavailability of steel bars and other essential inputs or services used in NKKTubes&rsquo; manufacturing process,
thereby affecting its operations. Tenaris and JFE have agreed to engage in discussions to seek mutually acceptable solutions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Annual Dividend Proposal</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I></I></P>

<P STYLE="font-size: 10pt; margin: 0">On April 29, 2020, the Company&rsquo;s board of directors resolved to propose, for approval
by the annual shareholders meeting to be held on June 2, 2020, that no further dividends be distributed in respect of fiscal year
2019 beyond the interim dividend of approximately $153 million already paid in November 2019. For a discussion of the rationale
behind the dividend proposal, see <I>&ldquo;The COVID-19 pandemic and the oil &amp; gas crisis and their impact on Tenaris&rsquo;s
operations and financial condition&rdquo;</I> included in this note.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&nbsp;</i></p></div></div><div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&nbsp;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 19.4pt 0pt 7.1pt; text-align: right; text-indent: -7.1pt">Alicia
M&#243;ndolo</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 283.5pt; text-align: right; text-indent: 4.5pt">Chief Financial
Officer</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<!-- Field: Page; Sequence: 169 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; border-bottom: Black 1pt solid"><p style="margin: 0pt; font-size: 9pt; font-style: italic">Tenaris S.A. Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT INDEX</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 93%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit<BR>
        Number</B></P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="white-space: nowrap">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Description</B></P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><A HREF="http://www.sec.gov/Archives/edgar/data/1190723/000117184319002218/exh_11.htm"><FONT STYLE="font-size: 10pt">1.1</FONT></A></TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1190723/000117184319002218/exh_11.htm"><FONT STYLE="font-size: 10pt">Updated and Consolidated Articles of Association of Tenaris S.A., dated as of May 2, 2018 *</FONT></A></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1190723/000119312513072991/d493009dex99a.htm" STYLE="-sec-extract: exhibit">2.1</A></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1190723/000119312513072991/d493009dex99a.htm" STYLE="-sec-extract: exhibit">Amended and Restated Deposit Agreement entered into between Tenaris S.A. and Deutsche Bank Trust Company Americas **</A></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><A HREF="exh_71.htm"><FONT STYLE="font-size: 10pt">7.1</FONT></A></TD>
    <TD><A HREF="exh_71.htm"><FONT STYLE="font-size: 10pt">Statement Explaining Calculation of Ratios</FONT></A></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><A HREF="exh_72.htm"><FONT STYLE="font-size: 10pt">7.2</FONT></A></TD>
    <TD><A HREF="exh_72.htm"><FONT STYLE="font-size: 10pt">Statement Explaining Alternative Performance Measures</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><A HREF="exh_81.htm"><FONT STYLE="font-size: 10pt">8.1</FONT></A></TD>
    <TD><A HREF="exh_81.htm"><FONT STYLE="font-size: 10pt">List of Subsidiaries of Tenaris S.A.</FONT></A></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><A HREF="exh_121.htm"><FONT STYLE="font-size: 10pt">12.1</FONT></A></TD>
    <TD><A HREF="exh_121.htm"><FONT STYLE="font-size: 10pt">Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></A></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><A HREF="exh_122.htm"><FONT STYLE="font-size: 10pt">12.2</FONT></A></TD>
    <TD><A HREF="exh_122.htm"><FONT STYLE="font-size: 10pt">Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></A></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><A HREF="exh_131.htm"><FONT STYLE="font-size: 10pt">13.1</FONT></A></TD>
    <TD><A HREF="exh_131.htm"><FONT STYLE="font-size: 10pt">Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></A></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><A HREF="exh_132.htm"><FONT STYLE="font-size: 10pt">13.2</FONT></A></TD>
    <TD><A HREF="exh_132.htm"><FONT STYLE="font-size: 10pt">Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></A></TD></TR>
</TABLE>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="border-top: Black 0.75pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">*</TD><TD>The Updated and Consolidated Articles of&nbsp;Association
is incorporated by reference&nbsp;to Exhibit 1.1 on Form 20-F filed by Tenaris&nbsp;S.A. on April 3, 2019 (File No. 001-31518).</TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">**</TD><TD>The Amended and Restated
                                         Deposit Agreement is incorporated by reference to the Registration Statement on Form
                                         F-6 filed by Tenaris S.A. on February&nbsp;25, 2013 (File No.&nbsp;333-186825).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 170 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid">&nbsp;</div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&nbsp;</p><p style="margin: 0pt">&nbsp;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&nbsp;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The registrant hereby certifies that it meets all the requirements
for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">April 30, 2020</font></td>
    <td colspan="3"><font style="font-size: 10pt">TENARIS S.A.</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="width: 50%">&nbsp;</td>
    <td style="width: 5%"><font style="font-size: 10pt">By</font></td>
    <td style="border-bottom: Black 1pt solid; width: 27%">/s/ Alicia M&#243;ndolo</td>
    <td style="width: 18%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">Name:</font></td>
    <td colspan="2"><font style="font-size: 10pt">Alicia M&#243;ndolo</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">Title:</font></td>
    <td colspan="2"><font style="font-size: 10pt">Chief Financial Officer</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</p>


</div>
</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.1
<SEQUENCE>2
<FILENAME>exh_71.htm
<DESCRIPTION>EXHIBIT 7.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-align: right; text-indent: -14.2pt">Exhibit
7.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-align: right; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">Tenaris &ndash; Liquid financial
assets over total assets</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="white-space: nowrap; font-weight: bold; text-align: center">At December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-style: italic">Thousands of U.S. dollars</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left">Cash and cash equivalents</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">1,554,299</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">428,361</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">330,221</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other current investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">210,376</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">487,734</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,192,306</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Bonds and other fixed income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,012</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">113,829</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">123,498</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Liquid financial assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,782,687</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,029,924</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,646,025</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Total assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">14,842,991</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">14,251,299</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">14,398,218</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Ratio</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">12</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">%</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">7</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">%</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">11</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">Tenaris &ndash; Total Liabilities
to Total Assets Ratio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="white-space: nowrap; font-weight: bold; text-align: center">At December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-style: italic">Thousands of U.S. dollars</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left">Total liabilities</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">2,656,619</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">2,375,807</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">2,817,248</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,842,991</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,251,299</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,398,218</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Ratio</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.18</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.17</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.20</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">Tenaris &ndash; Current borrowings
to total borrowings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="white-space: nowrap; font-weight: bold; text-align: center">At December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-style: italic">Millions of U.S. dollars</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left">Current borrowings</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">781,272</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">509,820</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">931,214</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total borrowings</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">822,152</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">539,007</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">965,859</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Ratio</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.95</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.95</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.96</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.2
<SEQUENCE>3
<FILENAME>exh_72.htm
<DESCRIPTION>EXHIBIT 7.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-align: right; text-indent: -14.2pt">Exhibit
7.2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-align: right; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">Alternative performance measures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EBITDA, Earnings before interest, tax, depreciation and amortization.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EBITDA provides an analysis of the operating results excluding
depreciation and amortization and impairments, as they are non-cash variables which can vary substantially from company to company
depending on accounting policies and the accounting value of the assets. EBITDA is an approximation to pre-tax operating cash flow
and reflects cash generation before working capital variation. EBITDA is widely used by investors when evaluating businesses (multiples
valuation), as well as by rating agencies and creditors to evaluate the level of debt, comparing EBITDA with net debt. EBITDA is
calculated in the following manner:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EBITDA = Operating results + Depreciation and amortization +
Impairment charges/(reversals).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-style: italic">Millions of U.S. dollars</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left">Operating income</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">832</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">872</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">335</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Depreciation and amortization</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">540</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">664</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">609</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">EBITDA</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,372</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,536</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">943</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Net cash/(debt) position</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This is the net balance of cash and cash equivalents, other
current investments and fixed income investments held to maturity less total borrowings. It provides a summary of the financial
solvency and liquidity of the company. Net cash / (debt) is widely used by investors and rating agencies and creditors to assess
the company&rsquo;s leverage, financial strength, flexibility and risks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net cash/ debt is calculated in the following manner:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net cash= Cash and cash equivalents + Other investments (Current
and Non-Current) +/- Derivatives hedging borrowings and investments &ndash; Borrowings (Current and Non-Current).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="white-space: nowrap; font-weight: bold; text-align: center">At December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-style: italic">Millions of U.S. dollars</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left">Cash and cash equivalents</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">1,554</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">428</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">330</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other current investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">210</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">488</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,192</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Non-current investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">114</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">123</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Derivatives hedging borrowings and investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6</TD><TD STYLE="white-space: nowrap; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(33</TD><TD STYLE="white-space: nowrap; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Borrowings &ndash; current and non-current</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(822</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(539</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(966</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Net cash position</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">980</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">485</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">647</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Free Cash Flow</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Free cash flow is a measure of financial performance, calculated
as operating cash flow less capital expenditures. FCF represents the cash that a company is able to generate after spending the
money required to maintain or expand its asset base. Free cash flow is calculated in the following manner:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Free cash flow = Net cash (used in) provided by operating activities
&ndash; Capital expenditures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="white-space: nowrap; font-weight: bold; text-align: center">For the year ended December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-style: italic">Millions of U.S. dollars</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left">Net cash provided by (used in) operating activities</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">1,528</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">611</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">(22</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Capital expenditures</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(350</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(349</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(558</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Free cash flow</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,178</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">261</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(580</TD><TD STYLE="white-space: nowrap; font-weight: bold; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>4
<FILENAME>exh_81.htm
<DESCRIPTION>EXHIBIT 8.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 8.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris &ndash; List of subsidiaries of Tenaris S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Principal subsidiaries</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We conduct all our operations through subsidiaries. The following
table shows the principal subsidiaries of the Company and its direct and indirect ownership in each subsidiary as of December 31,
2019, 2018 and 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Company</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Country of <BR>
Incorporation</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Main activity</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Percentage of ownership at <BR>
December 31, (*)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2017</B></FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; width: 37%"><FONT STYLE="font-size: 10pt">ALGOMA TUBES INC.</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%"><FONT STYLE="font-size: 10pt">Canada</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 30%"><FONT STYLE="font-size: 10pt">Manufacturing of seamless steel pipes</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">CONFAB INDUSTRIAL S.A. and subsidiaries</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of welded steel pipes and capital goods</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">DALMINE S.p.A.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Italy</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of seamless steel pipes</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">HYDRIL COMPANY and subsidiaries (except detailed) (a)</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">USA</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacture and marketing of premium connections</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">KAZAKHSTAN PIPE THREADERS LIMITED LIABILITY PARTNERSHIP</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Kazakhstan</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Threading of premium products</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">MAVERICK TUBE CORPORATION and subsidiaries</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">USA</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of welded steel pipes </FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">NKKTUBES</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Japan</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of seamless steel pipes</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">51%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">51%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">51%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">P.T. SEAMLESS PIPE INDONESIA JAYA</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Indonesia</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of seamless steel products</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">89%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">89%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">89%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">PRUDENTIAL STEEL LTD.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Canada</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of welded steel pipes </FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">S.C. SILCOTUB S.A.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Romania</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of seamless steel pipes</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">SAUDI STEEL PIPE CO.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Saudi Arabia</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of welded steel pipes </FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">48%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">NA</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">NA</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">SIAT SOCIEDAD ANONIMA</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Argentina</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of welded and seamless steel pipes </FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL and subsidiaries</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Argentina</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of seamless steel pipes</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TALTA - TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Portugal</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Holding Company</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS BAY CITY, INC.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">USA</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of seamless steel pipes</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS CONNECTIONS BV</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Netherlands</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Development, management and licensing of intellectual property</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS FINANCIAL SERVICES S.A.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Uruguay</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Financial company</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS GLOBAL SERVICES (CANADA) INC.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Canada</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Marketing of steel products</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">USA</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Marketing of steel products</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS GLOBAL SERVICES (UK) LTD</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">United Kingdom</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Holding company and marketing of steel products</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS GLOBAL SERVICES S.A. and subsidiaries (except detailed) (b)</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Uruguay</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Holding company and marketing of steel products</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS INVESTMENTS (NL) B.V.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Netherlands</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Holding company</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">NA</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">NA</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS INVESTMENTS S.&agrave;.r.l.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Luxembourg</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Holding company</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Switzerland</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Holding company</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TENARIS TUBOCARIBE LTDA.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Colombia</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of welded and seamless steel pipes</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">TUBOS DE ACERO DE MEXICO, S.A.</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Mexico</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Manufacturing of seamless steel pipes</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">(*) All percentages rounded.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">(a) Tenaris Investments S.&agrave;.r.l.
holds 100% of Hydril's subsidiaries shares except for Technical Drilling &amp; Production Services Nigeria. Ltd where it holds
80% for 2019, 2018 and 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">(b) Tenaris Investments
S.&agrave;.r.l. holds 97,5% of Tenaris Supply Chain S.A. and 40% of Tubular Technical Services Ltd. and Pipe Coaters Nigeria
Ltd., 49% of Amaja Tubular Services Limited, 49% Tubular Services Angola Lda.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>5
<FILENAME>exh_121.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 12.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CERTIFICATE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, PAOLO ROCCA, CERTIFY THAT:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">1.</TD><TD>I have reviewed this annual report on Form 20-F of Tenaris S.A.;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">2.</TD><TD>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">3.</TD><TD>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods
presented in this report;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">4.</TD><TD>The registrant&rsquo;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined
in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(a)</TD><TD>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(b)</TD><TD>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(c)</TD><TD>Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; <I>and</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(d)</TD><TD>Disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during
the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s
internal control over financial reporting; <I>and</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">5.</TD><TD>The registrant&rsquo;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors
(or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(a)</TD><TD>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial
information; <I>and</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(b)</TD><TD>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s
internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April 30, 2020</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: middle">/s/ Paolo Rocca</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 5%">Name:</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 25%">Paolo Rocca</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 20%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Title:</TD>
    <TD STYLE="vertical-align: middle; text-align: left"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>6
<FILENAME>exh_122.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 12.2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CERTIFICATE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, ALICIA M&Oacute;NDOLO, CERTIFY THAT:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">1.</TD><TD>I have reviewed this annual report on Form 20-F of Tenaris S.A.;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">2.</TD><TD>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">3.</TD><TD>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods
presented in this report;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">4.</TD><TD>The registrant&rsquo;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined
in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(a)</TD><TD>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(b)</TD><TD>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(c)</TD><TD>Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; <I>and</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(d)</TD><TD>Disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during
the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s
internal control over financial reporting; <I>and</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">5.</TD><TD>The registrant&rsquo;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors
(or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(a)</TD><TD>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial
information; <I>and</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(b)</TD><TD>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s
internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April 30, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: middle">/s/ Alicia M&oacute;ndolo</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 5%">Name:</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 25%">Alicia M&oacute;ndolo</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 20%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Title:</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Chief Financial Officer</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>7
<FILENAME>exh_131.htm
<DESCRIPTION>EXHIBIT 13.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 13.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION&nbsp;906 OF THE SARBANES-OXLEY
ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(SUBSECTIONS (A)&nbsp;AND (B)&nbsp;OF
SECTION&nbsp;1350, CHAPTER 63 OF TITLE 18, UNITED STATES CODE)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002
(Subsections (a)&nbsp;and (b)&nbsp;of Section&nbsp;1350, Chapter 63 of Title 18, United States Code), the undersigned officer of
Tenaris S.A. (the &ldquo;<U>Company</U>&rdquo;), hereby certifies, to such officer&rsquo;s knowledge, that the Company&rsquo;s
Annual Report on Form 20-F for the year ended December&nbsp;31, 2019 (the &ldquo;<U>Report</U>&rdquo;), fully complies with the
requirements of section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained
in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: middle; text-align: left">Date:&nbsp;&nbsp;April 30, 2020</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: middle">/s/ Paolo Rocca</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 5%">Name:</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 25%">Paolo Rocca</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 20%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Title:</TD>
    <TD STYLE="vertical-align: middle; text-align: left"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The foregoing certification is being furnished
solely pursuant to section 906</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of the Sarbanes-Oxley Act of 2002 (subsections
(a)&nbsp;and (b)&nbsp;of section 1350, chapter 63 of title 18, United States</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Code) and is not being filed as part of
the Report or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">as a separate disclosure document.</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>8
<FILENAME>exh_132.htm
<DESCRIPTION>EXHIBIT 13.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Exhibit 13.2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION&nbsp;906 OF THE SARBANES-OXLEY
ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(SUBSECTIONS (A)&nbsp;AND (B)&nbsp;OF
SECTION&nbsp;1350, CHAPTER 63 OF TITLE 18, UNITED STATES CODE)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002
(Subsections (a)&nbsp;and (b)&nbsp;of Section&nbsp;1350, Chapter 63 of Title 18, United States Code), the undersigned officer of
Tenaris S.A. (the &ldquo;<U>Company</U>&rdquo;), hereby certifies, to such officer&rsquo;s knowledge, that the Company&rsquo;s
Annual Report on Form 20-F for the year ended December&nbsp;31, 2019 (the &ldquo;<U>Report</U>&rdquo;), fully complies with the
requirements of section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained
in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: middle; text-align: left">Date:&nbsp;&nbsp;April 30, 2020</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: middle">/s/ Alicia M&oacute;ndolo</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 5%">Name:</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 25%">Alicia M&oacute;ndolo</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 20%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Title:</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Chief Financial Officer</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The foregoing certification is being furnished
solely pursuant to section 906</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of the Sarbanes-Oxley Act of 2002 (subsections
(a)&nbsp;and (b)&nbsp;of section 1350, chapter 63 of title 18, United States</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Code) and is not being filed as part of
the Report or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">as a separate disclosure document.</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>9
<FILENAME>ts-20191231.xml
<DESCRIPTION>XBRL INSTANCE FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome XBRL - 02:19AM UTC 2020-04-30--><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns="http://www.xbrl.org/2003/instance" xmlns:country="http://xbrl.sec.gov/country/2020-01-31" xmlns:currency="http://xbrl.sec.gov/currency/2020-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31" xmlns:exch="http://xbrl.sec.gov/exch/2020-01-31" xmlns:ifrs-full="http://xbrl.ifrs.org/taxonomy/2019-03-27/ifrs-full" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:naics="http://xbrl.sec.gov/naics/2011-01-31" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:sic="http://xbrl.sec.gov/sic/2020-01-31" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:stpr="http://xbrl.sec.gov/stpr/2018-01-31" xmlns:thunderdome="http://www.RDGFilings.com" xmlns:ts="http://us.tenaris.com/20191231" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <link:schemaRef xlink:href="ts-20191231.xsd" xlink:type="simple"/>
  <dei:AmendmentFlag contextRef="d_2019-01-01_2019-12-31" id="c-82">false</dei:AmendmentFlag>
  <dei:CurrentFiscalYearEndDate contextRef="d_2019-01-01_2019-12-31" id="c-68">--12-31</dei:CurrentFiscalYearEndDate>
  <dei:DocumentFiscalPeriodFocus contextRef="d_2019-01-01_2019-12-31" id="c-81">FY</dei:DocumentFiscalPeriodFocus>
  <dei:DocumentFiscalYearFocus contextRef="d_2019-01-01_2019-12-31" id="c-80">2019</dei:DocumentFiscalYearFocus>
  <dei:DocumentPeriodEndDate contextRef="d_2019-01-01_2019-12-31" id="c-79">2019-12-31</dei:DocumentPeriodEndDate>
  <dei:DocumentType contextRef="d_2019-01-01_2019-12-31" id="c-78">20-F</dei:DocumentType>
  <dei:EntityCentralIndexKey contextRef="d_2019-01-01_2019-12-31" id="c-66">0001190723</dei:EntityCentralIndexKey>
  <dei:EntityCommonStockSharesOutstanding contextRef="i_2019-12-31" decimals="INF" id="c-76" unitRef="xbrli-shares">1180536830</dei:EntityCommonStockSharesOutstanding>
  <dei:EntityCurrentReportingStatus contextRef="d_2019-01-01_2019-12-31" id="c-70">Yes</dei:EntityCurrentReportingStatus>
  <dei:EntityEmergingGrowthCompany contextRef="d_2019-01-01_2019-12-31" id="c-73">false</dei:EntityEmergingGrowthCompany>
  <dei:EntityFilerCategory contextRef="d_2019-01-01_2019-12-31" id="c-69">Large Accelerated Filer</dei:EntityFilerCategory>
  <dei:EntityInteractiveDataCurrent contextRef="d_2019-01-01_2019-12-31" id="c-75">Yes</dei:EntityInteractiveDataCurrent>
  <dei:EntityRegistrantName contextRef="d_2019-01-01_2019-12-31" id="c-65">Tenaris SA</dei:EntityRegistrantName>
  <dei:EntityShellCompany contextRef="d_2019-01-01_2019-12-31" id="c-77">false</dei:EntityShellCompany>
  <dei:EntityVoluntaryFilers contextRef="d_2019-01-01_2019-12-31" id="c-71">No</dei:EntityVoluntaryFilers>
  <dei:DocumentAnnualReport contextRef="d_2019-01-01_2019-12-31" id="c-105">true</dei:DocumentAnnualReport>
  <dei:DocumentTransitionReport contextRef="d_2019-01-01_2019-12-31" id="c-106">false</dei:DocumentTransitionReport>
  <dei:DocumentShellCompanyReport contextRef="d_2019-01-01_2019-12-31" id="c-107">false</dei:DocumentShellCompanyReport>
  <dei:EntityWellKnownSeasonedIssuer contextRef="d_2019-01-01_2019-12-31" id="c-72">Yes</dei:EntityWellKnownSeasonedIssuer>
  <dei:Security12bTitle contextRef="d_2019-01-01_2019-12-31" id="c-83">Ordinary Shares, par value $1.00 per share</dei:Security12bTitle>
  <dei:TradingSymbol contextRef="d_2019-01-01_2019-12-31" id="c-67">ts</dei:TradingSymbol>
  <ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred contextRef="i_2017-09-30_BusinessCombinationsAxis-GarrettMember" decimals="-5" id="c59810454" unitRef="iso4217-usd">10400000</ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808779" unitRef="iso4217-usd">405000</ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" id="c59808780" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808781" unitRef="iso4217-usd">32869000</ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808782" unitRef="iso4217-usd">81192000</ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808783" unitRef="iso4217-usd">114466000</ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810190" unitRef="iso4217-usd">505000</ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810191" unitRef="iso4217-usd">8000000</ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810192" unitRef="iso4217-usd">8505000</ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810154" unitRef="iso4217-usd">1788000</ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" id="c59810155" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810156" unitRef="iso4217-usd">10761000</ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808610" unitRef="iso4217-usd">59468000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808611" unitRef="iso4217-usd">115908000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808612" unitRef="iso4217-usd">1733000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808613" unitRef="iso4217-usd">1630000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808614" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808615" unitRef="iso4217-usd">178739000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember" decimals="2" id="c59810054" unitRef="xbrli-pure">0.01</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember" decimals="2" id="c59810056" unitRef="xbrli-pure">0.07</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="i_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember" decimals="2" id="c59810057" unitRef="xbrli-pure">0.02</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="i_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember" decimals="2" id="c59810059" unitRef="xbrli-pure">0.07</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember" decimals="2" id="c59831209" unitRef="xbrli-pure">0.03</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember" decimals="2" id="c59831210" unitRef="xbrli-pure">0.04</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember" decimals="2" id="c59831211" unitRef="xbrli-pure">0.04</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember" decimals="2" id="c59831212" unitRef="xbrli-pure">0.05</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases contextRef="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember" decimals="2" id="c59810064" unitRef="xbrli-pure">0</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases contextRef="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember" decimals="2" id="c59810066" unitRef="xbrli-pure">0.03</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases contextRef="i_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember" decimals="2" id="c59810067" unitRef="xbrli-pure">0</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases contextRef="i_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember" decimals="2" id="c59810069" unitRef="xbrli-pure">0.03</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember" decimals="2" id="c59831213" unitRef="xbrli-pure">0</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember" decimals="2" id="c59831214" unitRef="xbrli-pure">0.03</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember" decimals="2" id="c59831215" unitRef="xbrli-pure">0</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember" decimals="2" id="c59831216" unitRef="xbrli-pure">0.03</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-5" id="c59809955" unitRef="iso4217-usd">-1300000</ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-5" id="c59809958" unitRef="iso4217-usd">200000</ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-5" id="c59809975" unitRef="iso4217-usd">-400000</ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-5" id="c59809978" unitRef="iso4217-usd">-400000</ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-5" id="c59809956" unitRef="iso4217-usd">-5700000</ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-5" id="c59809959" unitRef="iso4217-usd">3700000</ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-5" id="c59809976" unitRef="iso4217-usd">12400000</ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-5" id="c59809979" unitRef="iso4217-usd">8400000</ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810100" unitRef="iso4217-usd">-10507000</ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810101" unitRef="iso4217-usd">3967000</ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:AdditionalProvisionsOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810135" unitRef="iso4217-usd">19904000</ifrs-full:AdditionalProvisionsOtherProvisions>
  <ifrs-full:AdditionalProvisionsOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810136" unitRef="iso4217-usd">14397000</ifrs-full:AdditionalProvisionsOtherProvisions>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808784" unitRef="iso4217-usd">35487000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808785" unitRef="iso4217-usd">772000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808786" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808787" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808788" unitRef="iso4217-usd">36259000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808846" unitRef="iso4217-usd">31632000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808847" unitRef="iso4217-usd">273000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808848" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808849" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808850" unitRef="iso4217-usd">31905000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808616" unitRef="iso4217-usd">16000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808617" unitRef="iso4217-usd">1178000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808618" unitRef="iso4217-usd">1107000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808619" unitRef="iso4217-usd">299412000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808620" unitRef="iso4217-usd">12202000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808621" unitRef="iso4217-usd">313915000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808696" unitRef="iso4217-usd">723000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808697" unitRef="iso4217-usd">681000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808698" unitRef="iso4217-usd">1245000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808699" unitRef="iso4217-usd">294163000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808700" unitRef="iso4217-usd">20756000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808701" unitRef="iso4217-usd">317568000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInInventories contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810477" unitRef="iso4217-usd">311459000</ifrs-full:AdjustmentsForDecreaseIncreaseInInventories>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInInventories contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810478" unitRef="iso4217-usd">-176443000</ifrs-full:AdjustmentsForDecreaseIncreaseInInventories>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInInventories contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810479" unitRef="iso4217-usd">-804415000</ifrs-full:AdjustmentsForDecreaseIncreaseInInventories>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810489" unitRef="iso4217-usd">16844000</ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810490" unitRef="iso4217-usd">5976000</ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810491" unitRef="iso4217-usd">17039000</ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810483" unitRef="iso4217-usd">428326000</ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810484" unitRef="iso4217-usd">-517579000</ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables>
  <ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810485" unitRef="iso4217-usd">-259375000</ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables>
  <ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806954" unitRef="iso4217-usd">539521000</ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense>
  <ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806955" unitRef="iso4217-usd">664357000</ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense>
  <ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806956" unitRef="iso4217-usd">608640000</ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense>
  <ifrs-full:AdjustmentsForIncomeTaxExpense contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806958" unitRef="iso4217-usd">-193417000</ifrs-full:AdjustmentsForIncomeTaxExpense>
  <ifrs-full:AdjustmentsForIncomeTaxExpense contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806959" unitRef="iso4217-usd">58494000</ifrs-full:AdjustmentsForIncomeTaxExpense>
  <ifrs-full:AdjustmentsForIncomeTaxExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806960" unitRef="iso4217-usd">-193989000</ifrs-full:AdjustmentsForIncomeTaxExpense>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810486" unitRef="iso4217-usd">-18295000</ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810487" unitRef="iso4217-usd">-22984000</ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810488" unitRef="iso4217-usd">4226000</ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810492" unitRef="iso4217-usd">-180857000</ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810493" unitRef="iso4217-usd">-57066000</ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables>
  <ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810494" unitRef="iso4217-usd">193905000</ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables>
  <ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets contextRef="d_2019-01-01_2019-12-31" id="c59806974" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets contextRef="d_2018-01-01_2018-12-31" id="c59806975" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806976" unitRef="iso4217-usd">-89694000</ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets>
  <ifrs-full:AdjustmentsForProvisions contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806970" unitRef="iso4217-usd">2739000</ifrs-full:AdjustmentsForProvisions>
  <ifrs-full:AdjustmentsForProvisions contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806971" unitRef="iso4217-usd">-8396000</ifrs-full:AdjustmentsForProvisions>
  <ifrs-full:AdjustmentsForProvisions contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806972" unitRef="iso4217-usd">-17245000</ifrs-full:AdjustmentsForProvisions>
  <ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806962" unitRef="iso4217-usd">82036000</ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates>
  <ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806963" unitRef="iso4217-usd">193994000</ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates>
  <ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806964" unitRef="iso4217-usd">116140000</ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates>
  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets contextRef="i_2018-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810148" unitRef="iso4217-usd">66535000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets contextRef="i_2018-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" decimals="-3" id="c59810149" unitRef="iso4217-usd">6784000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets contextRef="i_2018-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810150" unitRef="iso4217-usd">209796000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets contextRef="i_2019-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810163" unitRef="iso4217-usd">48782000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets contextRef="i_2019-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" decimals="-3" id="c59810164" unitRef="iso4217-usd">4892000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets contextRef="i_2019-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810165" unitRef="iso4217-usd">217717000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets contextRef="i_2017-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810166" unitRef="iso4217-usd">78385000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets contextRef="i_2017-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" decimals="-3" id="c59810167" unitRef="iso4217-usd">6255000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets contextRef="i_2017-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810168" unitRef="iso4217-usd">216068000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808815" unitRef="iso4217-usd">28937000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808816" unitRef="iso4217-usd">719000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808817" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808818" unitRef="iso4217-usd">18259000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808819" unitRef="iso4217-usd">47915000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808877" unitRef="iso4217-usd">40635000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808878" unitRef="iso4217-usd">720000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808879" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808880" unitRef="iso4217-usd">173537000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808881" unitRef="iso4217-usd">214892000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember" decimals="-3" id="c59807292" unitRef="iso4217-usd">108000000</ifrs-full:AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount>
  <ifrs-full:AmountsPayableRelatedPartyTransactions contextRef="i_2019-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810658" unitRef="iso4217-usd">19100000</ifrs-full:AmountsPayableRelatedPartyTransactions>
  <ifrs-full:AmountsPayableRelatedPartyTransactions contextRef="i_2018-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810659" unitRef="iso4217-usd">33197000</ifrs-full:AmountsPayableRelatedPartyTransactions>
  <ifrs-full:AmountsPayableRelatedPartyTransactions contextRef="i_2019-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810663" unitRef="iso4217-usd">7048000</ifrs-full:AmountsPayableRelatedPartyTransactions>
  <ifrs-full:AmountsPayableRelatedPartyTransactions contextRef="i_2018-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810664" unitRef="iso4217-usd">17595000</ifrs-full:AmountsPayableRelatedPartyTransactions>
  <ifrs-full:AmountsReceivableRelatedPartyTransactions contextRef="i_2019-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810648" unitRef="iso4217-usd">78884000</ifrs-full:AmountsReceivableRelatedPartyTransactions>
  <ifrs-full:AmountsReceivableRelatedPartyTransactions contextRef="i_2018-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810649" unitRef="iso4217-usd">122136000</ifrs-full:AmountsReceivableRelatedPartyTransactions>
  <ifrs-full:AmountsReceivableRelatedPartyTransactions contextRef="i_2019-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810653" unitRef="iso4217-usd">10400000</ifrs-full:AmountsReceivableRelatedPartyTransactions>
  <ifrs-full:AmountsReceivableRelatedPartyTransactions contextRef="i_2018-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810654" unitRef="iso4217-usd">24419000</ifrs-full:AmountsReceivableRelatedPartyTransactions>
  <ifrs-full:Assets contextRef="i_2019-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808133" unitRef="iso4217-usd">7885120000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2019-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808134" unitRef="iso4217-usd">2227044000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2019-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808135" unitRef="iso4217-usd">2282775000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2019-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808136" unitRef="iso4217-usd">958424000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2019-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808137" unitRef="iso4217-usd">609663000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2019-12-31_GeographicalAreasAxis-UnallocatedRegionMember" decimals="-3" id="c59808138" unitRef="iso4217-usd">879965000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2019-12-31" decimals="-3" id="c59808139" unitRef="iso4217-usd">14842991000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808140" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Assets contextRef="i_2018-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808182" unitRef="iso4217-usd">7971311000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808183" unitRef="iso4217-usd">2489522000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808184" unitRef="iso4217-usd">1913589000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808185" unitRef="iso4217-usd">588746000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808186" unitRef="iso4217-usd">482563000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31_GeographicalAreasAxis-UnallocatedRegionMember" decimals="-3" id="c59808187" unitRef="iso4217-usd">805568000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31" decimals="-3" id="c59808188" unitRef="iso4217-usd">14251299000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808189" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Assets contextRef="i_2017-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808231" unitRef="iso4217-usd">7925520000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2017-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808232" unitRef="iso4217-usd">2975599000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2017-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808233" unitRef="iso4217-usd">2002658000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2017-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808234" unitRef="iso4217-usd">391029000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2017-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808235" unitRef="iso4217-usd">441546000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2017-12-31_GeographicalAreasAxis-UnallocatedRegionMember" decimals="-3" id="c59808236" unitRef="iso4217-usd">661866000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2017-12-31" decimals="-3" id="c59808237" unitRef="iso4217-usd">14398218000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808238" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Assets contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809098" unitRef="iso4217-usd">12935533000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809099" unitRef="iso4217-usd">12547862000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809120" unitRef="iso4217-usd">6534111000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809121" unitRef="iso4217-usd">6845218000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807924" unitRef="iso4217-usd">52985000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2017-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807925" unitRef="iso4217-usd">26409000</ifrs-full:Assets>
  <ifrs-full:Assets contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807930" unitRef="iso4217-usd">55581000</ifrs-full:Assets>
  <ifrs-full:AuditorsRemuneration contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810694" unitRef="iso4217-usd">3904000</ifrs-full:AuditorsRemuneration>
  <ifrs-full:AuditorsRemuneration contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810695" unitRef="iso4217-usd">3891000</ifrs-full:AuditorsRemuneration>
  <ifrs-full:AuditorsRemuneration contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810696" unitRef="iso4217-usd">4136000</ifrs-full:AuditorsRemuneration>
  <ifrs-full:AuditorsRemunerationForAuditServices contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810682" unitRef="iso4217-usd">3846000</ifrs-full:AuditorsRemunerationForAuditServices>
  <ifrs-full:AuditorsRemunerationForAuditServices contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810683" unitRef="iso4217-usd">3841000</ifrs-full:AuditorsRemunerationForAuditServices>
  <ifrs-full:AuditorsRemunerationForAuditServices contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810684" unitRef="iso4217-usd">3995000</ifrs-full:AuditorsRemunerationForAuditServices>
  <ifrs-full:AuditorsRemunerationForOtherServices contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810691" unitRef="iso4217-usd">1000</ifrs-full:AuditorsRemunerationForOtherServices>
  <ifrs-full:AuditorsRemunerationForOtherServices contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810692" unitRef="iso4217-usd">7000</ifrs-full:AuditorsRemunerationForOtherServices>
  <ifrs-full:AuditorsRemunerationForOtherServices contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810693" unitRef="iso4217-usd">30000</ifrs-full:AuditorsRemunerationForOtherServices>
  <ifrs-full:AuditorsRemunerationForTaxServices contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810688" unitRef="iso4217-usd">7000</ifrs-full:AuditorsRemunerationForTaxServices>
  <ifrs-full:AuditorsRemunerationForTaxServices contextRef="d_2018-01-01_2018-12-31" id="c59810689" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:AuditorsRemunerationForTaxServices contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810690" unitRef="iso4217-usd">23000</ifrs-full:AuditorsRemunerationForTaxServices>
  <ifrs-full:BalancesWithBanks contextRef="i_2019-12-31" decimals="-3" id="c59809280" unitRef="iso4217-usd">118314000</ifrs-full:BalancesWithBanks>
  <ifrs-full:BalancesWithBanks contextRef="i_2018-12-31" decimals="-3" id="c59809281" unitRef="iso4217-usd">81211000</ifrs-full:BalancesWithBanks>
  <ifrs-full:BankOverdraftsClassifiedAsCashEquivalents contextRef="i_2019-12-31" decimals="-3" id="c59807093" unitRef="iso4217-usd">24000</ifrs-full:BankOverdraftsClassifiedAsCashEquivalents>
  <ifrs-full:BankOverdraftsClassifiedAsCashEquivalents contextRef="i_2018-12-31" decimals="-3" id="c59807094" unitRef="iso4217-usd">1644000</ifrs-full:BankOverdraftsClassifiedAsCashEquivalents>
  <ifrs-full:BankOverdraftsClassifiedAsCashEquivalents contextRef="i_2017-12-31" decimals="-3" id="c59807095" unitRef="iso4217-usd">131000</ifrs-full:BankOverdraftsClassifiedAsCashEquivalents>
  <ifrs-full:BasicAndDilutedEarningsLossPerShare contextRef="d_2019-01-01_2019-12-31" decimals="INF" id="c59806309" unitRef="iso4217-usd-per-xbrli-shares">0.63</ifrs-full:BasicAndDilutedEarningsLossPerShare>
  <ifrs-full:BasicAndDilutedEarningsLossPerShare contextRef="d_2018-01-01_2018-12-31" decimals="INF" id="c59806310" unitRef="iso4217-usd-per-xbrli-shares">0.74</ifrs-full:BasicAndDilutedEarningsLossPerShare>
  <ifrs-full:BasicAndDilutedEarningsLossPerShare contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c59806311" unitRef="iso4217-usd-per-xbrli-shares">0.46</ifrs-full:BasicAndDilutedEarningsLossPerShare>
  <ifrs-full:BasicAndDilutedEarningsLossPerShareFromContinuingOperations contextRef="d_2019-01-01_2019-12-31" decimals="INF" id="c59806300" unitRef="iso4217-usd-per-xbrli-shares">0.63</ifrs-full:BasicAndDilutedEarningsLossPerShareFromContinuingOperations>
  <ifrs-full:BasicAndDilutedEarningsLossPerShareFromContinuingOperations contextRef="d_2018-01-01_2018-12-31" decimals="INF" id="c59806301" unitRef="iso4217-usd-per-xbrli-shares">0.74</ifrs-full:BasicAndDilutedEarningsLossPerShareFromContinuingOperations>
  <ifrs-full:BasicAndDilutedEarningsLossPerShareFromContinuingOperations contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c59806302" unitRef="iso4217-usd-per-xbrli-shares">0.38</ifrs-full:BasicAndDilutedEarningsLossPerShareFromContinuingOperations>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59807470" unitRef="iso4217-usd">768002000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31" decimals="-3" id="c59807719" unitRef="iso4217-usd">822152000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807720" unitRef="iso4217-usd">822152000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807721" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807722" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807723" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807724" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807725" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2018-12-31" decimals="-3" id="c59807896" unitRef="iso4217-usd">539007000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807897" unitRef="iso4217-usd">539007000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807898" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807899" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807900" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807901" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807902" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-NotLaterThanOneYearMember" decimals="-3" id="c59809331" unitRef="iso4217-usd">781272000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember" decimals="-3" id="c59809332" unitRef="iso4217-usd">17307000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember" decimals="-3" id="c59809333" unitRef="iso4217-usd">23573000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember" id="c59809334" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember" id="c59809335" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanFiveYearsMember" id="c59809336" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember" decimals="-3" id="c59809337" unitRef="iso4217-usd">822152000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_MaturityAxis-NotLaterThanOneYearMember" decimals="-3" id="c59809338" unitRef="iso4217-usd">781272000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember" decimals="-3" id="c59809339" unitRef="iso4217-usd">17307000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember" decimals="-3" id="c59809340" unitRef="iso4217-usd">23573000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember" id="c59809341" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember" id="c59809342" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_MaturityAxis-LaterThanFiveYearsMember" id="c59809343" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-NotLaterThanOneYearMember" decimals="-3" id="c59809367" unitRef="iso4217-usd">509776000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember" decimals="-3" id="c59809368" unitRef="iso4217-usd">4271000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember" decimals="-3" id="c59809369" unitRef="iso4217-usd">4771000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember" decimals="-3" id="c59809370" unitRef="iso4217-usd">20145000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember" id="c59809371" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanFiveYearsMember" id="c59809372" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember" decimals="-3" id="c59809373" unitRef="iso4217-usd">538963000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_MaturityAxis-NotLaterThanOneYearMember" decimals="-3" id="c59809374" unitRef="iso4217-usd">509820000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember" decimals="-3" id="c59809375" unitRef="iso4217-usd">4271000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember" decimals="-3" id="c59809376" unitRef="iso4217-usd">4771000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember" decimals="-3" id="c59809377" unitRef="iso4217-usd">20145000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember" id="c59809378" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_MaturityAxis-LaterThanFiveYearsMember" id="c59809379" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_BorrowingsByNameAxis-SignificantBorrowingsAsOfClosingDateMember_SignificantInvestmentsInSubsidiariesAxis-TamsaHydrilAndOtherMember" decimals="-6" id="c59809398" unitRef="iso4217-usd">621000000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_BorrowingsByNameAxis-SignificantBorrowingsAsOfClosingDateMember_SignificantInvestmentsInSubsidiariesAxis-SidercaSaicAndSubsidiariesMember" decimals="-6" id="c59809403" unitRef="iso4217-usd">60000000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59807574" unitRef="iso4217-usd">520471000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2019-12-31_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59807576" unitRef="iso4217-usd">54150000</ifrs-full:Borrowings>
  <ifrs-full:Borrowings contextRef="i_2018-12-31_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59807578" unitRef="iso4217-usd">18536000</ifrs-full:Borrowings>
  <ifrs-full:BorrowingsInterestRate contextRef="i_2019-12-31_RangeAxis-WeightedAverageMember" decimals="4" id="c59809405" unitRef="xbrli-pure">0.0318</ifrs-full:BorrowingsInterestRate>
  <ifrs-full:BorrowingsInterestRate contextRef="i_2018-12-31_RangeAxis-WeightedAverageMember" decimals="4" id="c59809406" unitRef="xbrli-pure">0.0398</ifrs-full:BorrowingsInterestRate>
  <ifrs-full:BorrowingsRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810948" unitRef="iso4217-usd">53000000</ifrs-full:BorrowingsRecognisedAsOfAcquisitionDate>
  <ifrs-full:BorrowingsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810468" unitRef="iso4217-sar">304000000</ifrs-full:BorrowingsRecognisedAsOfAcquisitionDate>
  <ifrs-full:BorrowingsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810469" unitRef="iso4217-usd">81000000</ifrs-full:BorrowingsRecognisedAsOfAcquisitionDate>
  <ifrs-full:Cash contextRef="i_2020-03-31_NonadjustingEventsAfterReportingPeriodAxis-NetCashPositionMember" decimals="-5" id="c59810912" unitRef="iso4217-usd">271000000</ifrs-full:Cash>
  <ifrs-full:CashAdvancesAndLoansMadeToRelatedParties contextRef="d_2019-01-01_2019-12-31" id="c59807015" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CashAdvancesAndLoansMadeToRelatedParties contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807016" unitRef="iso4217-usd">14740000</ifrs-full:CashAdvancesAndLoansMadeToRelatedParties>
  <ifrs-full:CashAdvancesAndLoansMadeToRelatedParties contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807017" unitRef="iso4217-usd">10956000</ifrs-full:CashAdvancesAndLoansMadeToRelatedParties>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2019-12-31" decimals="-3" id="c59807585" unitRef="iso4217-usd">1554299000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807586" unitRef="iso4217-usd">387602000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807587" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-3" id="c59807588" unitRef="iso4217-usd">1166697000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807589" unitRef="iso4217-usd">1166697000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807590" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807591" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2018-12-31" decimals="-3" id="c59807755" unitRef="iso4217-usd">428361000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807756" unitRef="iso4217-usd">268163000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807757" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-3" id="c59807758" unitRef="iso4217-usd">160198000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807759" unitRef="iso4217-usd">160198000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807760" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CashAndCashEquivalents contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807761" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale contextRef="i_2016-12-31" decimals="-3" id="c59810552" unitRef="iso4217-usd">18820000</ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale>
  <ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale contextRef="i_2017-12-31" decimals="-3" id="c59810553" unitRef="iso4217-usd">206000</ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale>
  <ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition contextRef="i_2018-12-31" decimals="-3" id="c59807073" unitRef="iso4217-usd">426717000</ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition>
  <ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition contextRef="i_2017-12-31" decimals="-3" id="c59807074" unitRef="iso4217-usd">330090000</ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition>
  <ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition contextRef="i_2016-12-31" decimals="-3" id="c59807075" unitRef="iso4217-usd">398580000</ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition>
  <ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition contextRef="i_2019-12-31" decimals="-3" id="c59807085" unitRef="iso4217-usd">1554275000</ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition>
  <ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810946" unitRef="iso4217-usd">4000000</ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate>
  <ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810464" unitRef="iso4217-sar">32000000</ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate>
  <ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810465" unitRef="iso4217-usd">9000000</ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate>
  <ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807031" unitRef="iso4217-usd">389815000</ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments>
  <ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807032" unitRef="iso4217-usd">717368000</ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments>
  <ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807033" unitRef="iso4217-usd">565387000</ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments>
  <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807064" unitRef="iso4217-usd">-353758000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
  <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807065" unitRef="iso4217-usd">-900442000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
  <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807066" unitRef="iso4217-usd">-401417000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
  <ifrs-full:CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810557" unitRef="iso4217-usd">-15600000</ifrs-full:CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations>
  <ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807035" unitRef="iso4217-usd">-40392000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
  <ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807036" unitRef="iso4217-usd">399108000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
  <ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807037" unitRef="iso4217-usd">349118000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
  <ifrs-full:CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810556" unitRef="iso4217-usd">32000</ifrs-full:CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations>
  <ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806986" unitRef="iso4217-usd">1527939000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
  <ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806987" unitRef="iso4217-usd">610802000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
  <ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806988" unitRef="iso4217-usd">-22025000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
  <ifrs-full:CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810555" unitRef="iso4217-usd">-3046000</ifrs-full:CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations>
  <ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807003" unitRef="iso4217-usd">132845000</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
  <ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="d_2018-01-01_2018-12-31" id="c59807004" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807005" unitRef="iso4217-usd">10418000</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
  <ifrs-full:CashOutflowForLeases contextRef="d_2018-01-01_2018-12-31" decimals="-5" id="c59808939" unitRef="iso4217-usd">4000000</ifrs-full:CashOutflowForLeases>
  <ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806995" unitRef="iso4217-usd">3820000</ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities>
  <ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806996" unitRef="iso4217-usd">4851000</ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities>
  <ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806997" unitRef="iso4217-usd">7077000</ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities>
  <ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807019" unitRef="iso4217-usd">40470000</ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties>
  <ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807020" unitRef="iso4217-usd">9370000</ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties>
  <ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807021" unitRef="iso4217-usd">3900000</ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties>
  <ifrs-full:CashTransferred contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-7" id="c59810442" unitRef="iso4217-sar">530000000</ifrs-full:CashTransferred>
  <ifrs-full:CashTransferred contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-5" id="c59810443" unitRef="iso4217-usd">141000000</ifrs-full:CashTransferred>
  <ifrs-full:CashTransferred contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810871" unitRef="iso4217-usd">1067000000</ifrs-full:CashTransferred>
  <ifrs-full:ComprehensiveIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806355" unitRef="iso4217-usd">678722000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806356" unitRef="iso4217-usd">774209000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806357" unitRef="iso4217-usd">675967000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806614" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806615" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806616" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806617" unitRef="iso4217-usd">-37998000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806618" unitRef="iso4217-usd">-14593000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806619" unitRef="iso4217-usd">742686000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806620" unitRef="iso4217-usd">690095000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806621" unitRef="iso4217-usd">-11373000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806758" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806759" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806760" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806761" unitRef="iso4217-usd">-94825000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806762" unitRef="iso4217-usd">-4525000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806763" unitRef="iso4217-usd">876063000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806764" unitRef="iso4217-usd">776713000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806765" unitRef="iso4217-usd">-2504000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806884" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806885" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806886" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806887" unitRef="iso4217-usd">141532000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806888" unitRef="iso4217-usd">-2738000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806889" unitRef="iso4217-usd">544737000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806890" unitRef="iso4217-usd">683531000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806891" unitRef="iso4217-usd">-7564000</ifrs-full:ComprehensiveIncome>
  <ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806362" unitRef="iso4217-usd">-11373000</ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests>
  <ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806363" unitRef="iso4217-usd">-2504000</ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests>
  <ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806364" unitRef="iso4217-usd">-7564000</ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests>
  <ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806359" unitRef="iso4217-usd">690095000</ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent>
  <ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806360" unitRef="iso4217-usd">776713000</ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent>
  <ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806361" unitRef="iso4217-usd">683531000</ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent>
  <ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809114" unitRef="iso4217-usd">445473000</ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent>
  <ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent contextRef="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809115" unitRef="iso4217-usd">1176964000</ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent>
  <ifrs-full:ContractLiabilities contextRef="i_2019-12-31" decimals="-5" id="c59807962" unitRef="iso4217-usd">82700000</ifrs-full:ContractLiabilities>
  <ifrs-full:ContractLiabilities contextRef="i_2018-12-31" decimals="-5" id="c59807963" unitRef="iso4217-usd">62700000</ifrs-full:ContractLiabilities>
  <ifrs-full:ContractLiabilities contextRef="i_2017-12-31" decimals="-5" id="c59807964" unitRef="iso4217-usd">56700000</ifrs-full:ContractLiabilities>
  <ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810102" unitRef="iso4217-usd">3589000</ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810103" unitRef="iso4217-usd">3108000</ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:CostOfSales contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806216" unitRef="iso4217-usd">5107495000</ifrs-full:CostOfSales>
  <ifrs-full:CostOfSales contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806217" unitRef="iso4217-usd">5279300000</ifrs-full:CostOfSales>
  <ifrs-full:CostOfSales contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806218" unitRef="iso4217-usd">3685057000</ifrs-full:CostOfSales>
  <ifrs-full:CreditExposure contextRef="i_2019-12-31_TypesOfRisksAxis-CustomerConcentrationRisk1Member" decimals="-3" id="c59807477" unitRef="iso4217-usd">0</ifrs-full:CreditExposure>
  <ifrs-full:CurrentAdvances contextRef="i_2019-12-31" decimals="-3" id="c59806532" unitRef="iso4217-usd">82729000</ifrs-full:CurrentAdvances>
  <ifrs-full:CurrentAdvances contextRef="i_2018-12-31" decimals="-3" id="c59806534" unitRef="iso4217-usd">62683000</ifrs-full:CurrentAdvances>
  <ifrs-full:CurrentAssets contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809096" unitRef="iso4217-usd">4178213000</ifrs-full:CurrentAssets>
  <ifrs-full:CurrentAssets contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809097" unitRef="iso4217-usd">4426038000</ifrs-full:CurrentAssets>
  <ifrs-full:CurrentAssets contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809118" unitRef="iso4217-usd">2198449000</ifrs-full:CurrentAssets>
  <ifrs-full:CurrentAssets contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809119" unitRef="iso4217-usd">2148322000</ifrs-full:CurrentAssets>
  <ifrs-full:CurrentAssets contextRef="i_2017-01-19_ContinuingAndDiscontinuedOperationsAxis-DisposalGroupsClassifiedAsHeldForSaleMember" decimals="-3" id="c59810559" unitRef="iso4217-usd">69332000</ifrs-full:CurrentAssets>
  <ifrs-full:CurrentAssets contextRef="i_2019-12-31" decimals="-3" id="c59806449" unitRef="iso4217-usd">5670607000</ifrs-full:CurrentAssets>
  <ifrs-full:CurrentAssets contextRef="i_2018-12-31" decimals="-3" id="c59806451" unitRef="iso4217-usd">5464192000</ifrs-full:CurrentAssets>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31" decimals="-3" id="c59809456" unitRef="iso4217-usd">509820000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31" decimals="-3" id="c59809470" unitRef="iso4217-usd">781272000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59809423" unitRef="iso4217-usd">17092000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59809424" unitRef="iso4217-usd">16847000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809426" unitRef="iso4217-usd">274799000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809427" unitRef="iso4217-usd">138303000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59809429" unitRef="iso4217-usd">80000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59809430" unitRef="iso4217-usd">198000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809432" unitRef="iso4217-usd">3772000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809433" unitRef="iso4217-usd">4178000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-MXN_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809435" unitRef="iso4217-usd">424964000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-MXN_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809436" unitRef="iso4217-usd">301047000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-ARS_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809438" unitRef="iso4217-usd">86000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-ARS_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809439" unitRef="iso4217-usd">49125000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59809441" unitRef="iso4217-usd">35666000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FloatingInterestRateMember" id="c59809442" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809444" unitRef="iso4217-usd">24797000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FixedInterestRateMember" id="c59809445" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-OtherCurrencyMember_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59809447" unitRef="iso4217-usd">16000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-OtherCurrencyMember_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59809448" unitRef="iso4217-usd">89000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2019-12-31_CurrencyAxis-OtherCurrencyMember_TypesOfInterestRatesAxis-FixedInterestRateMember" id="c59809450" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="i_2018-12-31_CurrencyAxis-OtherCurrencyMember_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809451" unitRef="iso4217-usd">33000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ifrs-full:CurrentDerivativeFinancialAssets contextRef="i_2019-12-31" decimals="-3" id="c59806438" unitRef="iso4217-usd">19929000</ifrs-full:CurrentDerivativeFinancialAssets>
  <ifrs-full:CurrentDerivativeFinancialAssets contextRef="i_2018-12-31" decimals="-3" id="c59806440" unitRef="iso4217-usd">9173000</ifrs-full:CurrentDerivativeFinancialAssets>
  <ifrs-full:CurrentDerivativeFinancialLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59806512" unitRef="iso4217-usd">1814000</ifrs-full:CurrentDerivativeFinancialLiabilities>
  <ifrs-full:CurrentDerivativeFinancialLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59806514" unitRef="iso4217-usd">11978000</ifrs-full:CurrentDerivativeFinancialLiabilities>
  <ifrs-full:CurrentInventoriesInTransit contextRef="i_2019-12-31" decimals="-3" id="c59809164" unitRef="iso4217-usd">194015000</ifrs-full:CurrentInventoriesInTransit>
  <ifrs-full:CurrentInventoriesInTransit contextRef="i_2018-12-31" decimals="-3" id="c59809165" unitRef="iso4217-usd">237539000</ifrs-full:CurrentInventoriesInTransit>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31" decimals="-3" id="c59807592" unitRef="iso4217-usd">210376000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807593" unitRef="iso4217-usd">65874000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" decimals="-3" id="c59807594" unitRef="iso4217-usd">144502000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807595" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807596" unitRef="iso4217-usd">134990000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807597" unitRef="iso4217-usd">9512000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807598" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" decimals="-3" id="c59807599" unitRef="iso4217-usd">65874000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" decimals="-3" id="c59807600" unitRef="iso4217-usd">65874000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" id="c59807601" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" id="c59807602" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807603" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807604" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807605" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember" decimals="-3" id="c59807606" unitRef="iso4217-usd">20637000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember" decimals="-3" id="c59807607" unitRef="iso4217-usd">20637000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember" id="c59807608" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember" id="c59807609" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807610" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807611" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807612" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember" decimals="-3" id="c59807613" unitRef="iso4217-usd">4993000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember" decimals="-3" id="c59807614" unitRef="iso4217-usd">4993000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember" id="c59807615" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember" id="c59807616" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807617" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807618" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807619" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember" decimals="-3" id="c59807620" unitRef="iso4217-usd">40244000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember" decimals="-3" id="c59807621" unitRef="iso4217-usd">40244000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember" id="c59807622" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember" id="c59807623" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807624" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807625" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807626" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" decimals="-3" id="c59807627" unitRef="iso4217-usd">144502000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" id="c59807628" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" decimals="-3" id="c59807629" unitRef="iso4217-usd">144502000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" id="c59807630" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807631" unitRef="iso4217-usd">134990000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807632" unitRef="iso4217-usd">9512000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807633" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember" decimals="-3" id="c59807634" unitRef="iso4217-usd">10211000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember" id="c59807635" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember" decimals="-3" id="c59807636" unitRef="iso4217-usd">10211000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember" id="c59807637" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807638" unitRef="iso4217-usd">10211000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807639" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807640" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember" decimals="-3" id="c59807641" unitRef="iso4217-usd">28637000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember" id="c59807642" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember" decimals="-3" id="c59807643" unitRef="iso4217-usd">28637000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember" id="c59807644" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807645" unitRef="iso4217-usd">19125000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807646" unitRef="iso4217-usd">9512000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807647" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember" decimals="-3" id="c59807648" unitRef="iso4217-usd">105654000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember" id="c59807649" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember" decimals="-3" id="c59807650" unitRef="iso4217-usd">105654000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember" id="c59807651" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807652" unitRef="iso4217-usd">105654000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807653" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807654" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31" decimals="-3" id="c59807762" unitRef="iso4217-usd">487734000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807763" unitRef="iso4217-usd">300410000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" decimals="-3" id="c59807764" unitRef="iso4217-usd">166094000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-3" id="c59807765" unitRef="iso4217-usd">21230000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807766" unitRef="iso4217-usd">168165000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807767" unitRef="iso4217-usd">19159000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807768" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" decimals="-3" id="c59807769" unitRef="iso4217-usd">300410000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" decimals="-3" id="c59807770" unitRef="iso4217-usd">300410000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" id="c59807771" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" id="c59807772" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807773" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807774" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807775" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember" decimals="-3" id="c59807776" unitRef="iso4217-usd">198912000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember" decimals="-3" id="c59807777" unitRef="iso4217-usd">198912000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember" id="c59807778" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember" id="c59807779" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807780" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807781" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807782" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember" decimals="-3" id="c59807783" unitRef="iso4217-usd">9932000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember" decimals="-3" id="c59807784" unitRef="iso4217-usd">9932000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember" id="c59807785" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember" id="c59807786" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807787" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807788" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807789" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember" decimals="-3" id="c59807790" unitRef="iso4217-usd">91566000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember" decimals="-3" id="c59807791" unitRef="iso4217-usd">91566000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember" id="c59807792" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember" id="c59807793" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807794" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807795" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807796" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" decimals="-3" id="c59807797" unitRef="iso4217-usd">187324000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" id="c59807798" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" decimals="-3" id="c59807799" unitRef="iso4217-usd">166094000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" decimals="-3" id="c59807800" unitRef="iso4217-usd">21230000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807801" unitRef="iso4217-usd">168165000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807802" unitRef="iso4217-usd">19159000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807803" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember" decimals="-3" id="c59807804" unitRef="iso4217-usd">1077000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember" id="c59807805" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember" decimals="-3" id="c59807806" unitRef="iso4217-usd">1077000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember" id="c59807807" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807808" unitRef="iso4217-usd">1077000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807809" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807810" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember" decimals="-3" id="c59807811" unitRef="iso4217-usd">24912000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember" id="c59807812" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember" decimals="-3" id="c59807813" unitRef="iso4217-usd">24912000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember" id="c59807814" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807815" unitRef="iso4217-usd">24912000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807816" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807817" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember" decimals="-3" id="c59807818" unitRef="iso4217-usd">142176000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember" id="c59807819" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember" decimals="-3" id="c59807820" unitRef="iso4217-usd">140105000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember" decimals="-3" id="c59807821" unitRef="iso4217-usd">2071000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807822" unitRef="iso4217-usd">142176000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807823" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807824" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-StructuredNotesMember" decimals="-3" id="c59807825" unitRef="iso4217-usd">19159000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-StructuredNotesMember" id="c59807826" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-StructuredNotesMember" id="c59807827" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-StructuredNotesMember" decimals="-3" id="c59807828" unitRef="iso4217-usd">19159000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-StructuredNotesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807829" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-StructuredNotesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807830" unitRef="iso4217-usd">19159000</ifrs-full:CurrentInvestments>
  <ifrs-full:CurrentInvestments contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-StructuredNotesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807831" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentLeaseLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59806507" unitRef="iso4217-usd">37849000</ifrs-full:CurrentLeaseLiabilities>
  <ifrs-full:CurrentLeaseLiabilities contextRef="i_2018-12-31" id="c59806509" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentLiabilities contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809102" unitRef="iso4217-usd">1768125000</ifrs-full:CurrentLiabilities>
  <ifrs-full:CurrentLiabilities contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809103" unitRef="iso4217-usd">1826530000</ifrs-full:CurrentLiabilities>
  <ifrs-full:CurrentLiabilities contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809124" unitRef="iso4217-usd">716930000</ifrs-full:CurrentLiabilities>
  <ifrs-full:CurrentLiabilities contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809125" unitRef="iso4217-usd">860862000</ifrs-full:CurrentLiabilities>
  <ifrs-full:CurrentLiabilities contextRef="i_2017-01-19_ContinuingAndDiscontinuedOperationsAxis-DisposalGroupsClassifiedAsHeldForSaleMember" decimals="-3" id="c59810562" unitRef="iso4217-usd">13556000</ifrs-full:CurrentLiabilities>
  <ifrs-full:CurrentLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59806538" unitRef="iso4217-usd">1780457000</ifrs-full:CurrentLiabilities>
  <ifrs-full:CurrentLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59806540" unitRef="iso4217-usd">1718363000</ifrs-full:CurrentLiabilities>
  <ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets contextRef="i_2019-12-31" decimals="-3" id="c59809191" unitRef="iso4217-usd">104575000</ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets>
  <ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets contextRef="i_2018-12-31" decimals="-3" id="c59809192" unitRef="iso4217-usd">155885000</ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets>
  <ifrs-full:CurrentProvisions contextRef="i_2019-12-31" decimals="-3" id="c59806527" unitRef="iso4217-usd">17017000</ifrs-full:CurrentProvisions>
  <ifrs-full:CurrentProvisions contextRef="i_2018-12-31" decimals="-3" id="c59806529" unitRef="iso4217-usd">24283000</ifrs-full:CurrentProvisions>
  <ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810020" unitRef="iso4217-usd">7978000</ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset>
  <ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810021" unitRef="iso4217-usd">7400000</ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset>
  <ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810044" unitRef="iso4217-usd">721000</ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset>
  <ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810045" unitRef="iso4217-usd">1328000</ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset>
  <ifrs-full:CurrentTaxAssetsCurrent contextRef="i_2019-12-31" decimals="-3" id="c59809198" unitRef="iso4217-usd">167388000</ifrs-full:CurrentTaxAssetsCurrent>
  <ifrs-full:CurrentTaxAssetsCurrent contextRef="i_2018-12-31" decimals="-3" id="c59809199" unitRef="iso4217-usd">121332000</ifrs-full:CurrentTaxAssetsCurrent>
  <ifrs-full:CurrentTaxExpenseIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808528" unitRef="iso4217-usd">299692000</ifrs-full:CurrentTaxExpenseIncome>
  <ifrs-full:CurrentTaxExpenseIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808529" unitRef="iso4217-usd">343104000</ifrs-full:CurrentTaxExpenseIncome>
  <ifrs-full:CurrentTaxExpenseIncome contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808530" unitRef="iso4217-usd">184016000</ifrs-full:CurrentTaxExpenseIncome>
  <ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="i_2019-12-31" decimals="-3" id="c59809206" unitRef="iso4217-usd">127625000</ifrs-full:CurrentTaxLiabilitiesCurrent>
  <ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="i_2018-12-31" decimals="-3" id="c59809207" unitRef="iso4217-usd">250233000</ifrs-full:CurrentTaxLiabilitiesCurrent>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31" decimals="-3" id="c59807489" unitRef="iso4217-usd">1348160000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31" decimals="-3" id="c59807490" unitRef="iso4217-usd">1737366000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_ClassesOfFinancialInstrumentsAxis-GuaranteesUnderCreditInsuranceMember" decimals="-3" id="c59807491" unitRef="iso4217-usd">178700000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_ClassesOfFinancialInstrumentsAxis-GuaranteesUnderCreditInsuranceMember" decimals="-3" id="c59807492" unitRef="iso4217-usd">181700000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_ClassesOfFinancialInstrumentsAxis-LetterOfCreditAndOtherBankGuaranteesMember" decimals="-3" id="c59807493" unitRef="iso4217-usd">55200000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_ClassesOfFinancialInstrumentsAxis-LetterOfCreditAndOtherBankGuaranteesMember" decimals="-3" id="c59807494" unitRef="iso4217-usd">62300000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_ClassesOfFinancialInstrumentsAxis-OtherGuaranteesMember" decimals="-3" id="c59807495" unitRef="iso4217-usd">600000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_ClassesOfFinancialInstrumentsAxis-OtherGuaranteesMember" decimals="-3" id="c59807496" unitRef="iso4217-usd">42200000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_PastDueStatusAxis-PastDueMember" decimals="-3" id="c59807499" unitRef="iso4217-usd">242700000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_PastDueStatusAxis-PastDueMember" decimals="-3" id="c59807500" unitRef="iso4217-usd">368400000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_ClassesOfFinancialInstrumentsAxis-FinancialGuaranteeContractsMember_PastDueStatusAxis-PastDueMember" decimals="-3" id="c59807502" unitRef="iso4217-usd">28700000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_ClassesOfFinancialInstrumentsAxis-FinancialGuaranteeContractsMember_PastDueStatusAxis-PastDueMember" decimals="-3" id="c59807503" unitRef="iso4217-usd">31500000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807684" unitRef="iso4217-usd">1348160000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807685" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807686" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807687" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807688" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807689" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807861" unitRef="iso4217-usd">1737366000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807862" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807863" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807864" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807865" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807866" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808141" unitRef="iso4217-usd">612809000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808142" unitRef="iso4217-usd">176173000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808143" unitRef="iso4217-usd">149321000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808144" unitRef="iso4217-usd">319406000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808145" unitRef="iso4217-usd">90451000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808146" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808148" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808190" unitRef="iso4217-usd">791190000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808191" unitRef="iso4217-usd">280801000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808192" unitRef="iso4217-usd">215202000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808193" unitRef="iso4217-usd">383358000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808194" unitRef="iso4217-usd">66815000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808195" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808197" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2017-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808239" unitRef="iso4217-usd">582204000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2017-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808240" unitRef="iso4217-usd">234877000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2017-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808241" unitRef="iso4217-usd">214944000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2017-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808242" unitRef="iso4217-usd">135524000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2017-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808243" unitRef="iso4217-usd">46511000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2017-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808244" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2017-12-31" decimals="-3" id="c59808245" unitRef="iso4217-usd">1214060000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808246" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809245" unitRef="iso4217-usd">1153684000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809246" unitRef="iso4217-usd">182482000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809247" unitRef="iso4217-usd">11994000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809274" unitRef="iso4217-usd">1434967000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809275" unitRef="iso4217-usd">289613000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentTradeReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809276" unitRef="iso4217-usd">12786000</ifrs-full:CurrentTradeReceivables>
  <ifrs-full:CurrentValueAddedTaxPayables contextRef="i_2019-12-31" decimals="-3" id="c59809202" unitRef="iso4217-usd">9953000</ifrs-full:CurrentValueAddedTaxPayables>
  <ifrs-full:CurrentValueAddedTaxPayables contextRef="i_2018-12-31" decimals="-3" id="c59809203" unitRef="iso4217-usd">18091000</ifrs-full:CurrentValueAddedTaxPayables>
  <ifrs-full:CurrentValueAddedTaxReceivables contextRef="i_2019-12-31" decimals="-3" id="c59809194" unitRef="iso4217-usd">112161000</ifrs-full:CurrentValueAddedTaxReceivables>
  <ifrs-full:CurrentValueAddedTaxReceivables contextRef="i_2018-12-31" decimals="-3" id="c59809195" unitRef="iso4217-usd">67322000</ifrs-full:CurrentValueAddedTaxReceivables>
  <ifrs-full:CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810458" unitRef="iso4217-sar">305000000</ifrs-full:CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate>
  <ifrs-full:CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810459" unitRef="iso4217-usd">81000000</ifrs-full:CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate>
  <ifrs-full:DebtSecurities contextRef="i_2019-02-13_BorrowingsByNameAxis-SeveralBanksToRefinanceObligationsMember_LegalEntityAxis-TechgenSAMember" decimals="-3" id="c59809051" unitRef="iso4217-usd">640000000</ifrs-full:DebtSecurities>
  <ifrs-full:DeferredTaxAssets contextRef="i_2019-12-31_MaturityAxis-LaterThanOneYearMember" decimals="-3" id="c59809929" unitRef="iso4217-usd">538274000</ifrs-full:DeferredTaxAssets>
  <ifrs-full:DeferredTaxAssets contextRef="i_2018-12-31_MaturityAxis-LaterThanOneYearMember" decimals="-3" id="c59809930" unitRef="iso4217-usd">452330000</ifrs-full:DeferredTaxAssets>
  <ifrs-full:DeferredTaxAssets contextRef="i_2019-12-31" decimals="-3" id="c59809933" unitRef="iso4217-usd">225680000</ifrs-full:DeferredTaxAssets>
  <ifrs-full:DeferredTaxAssets contextRef="i_2018-12-31" decimals="-3" id="c59809934" unitRef="iso4217-usd">181606000</ifrs-full:DeferredTaxAssets>
  <ifrs-full:DeferredTaxExpenseIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808531" unitRef="iso4217-usd">-97240000</ifrs-full:DeferredTaxExpenseIncome>
  <ifrs-full:DeferredTaxExpenseIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808532" unitRef="iso4217-usd">-113897000</ifrs-full:DeferredTaxExpenseIncome>
  <ifrs-full:DeferredTaxExpenseIncome contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808533" unitRef="iso4217-usd">-100432000</ifrs-full:DeferredTaxExpenseIncome>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" decimals="-3" id="c59809569" unitRef="iso4217-usd">-64930000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" decimals="-3" id="c59809570" unitRef="iso4217-usd">-5652000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809571" unitRef="iso4217-usd">59902000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809572" unitRef="iso4217-usd">-10680000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" decimals="-3" id="c59809681" unitRef="iso4217-usd">-33055000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" decimals="-3" id="c59809682" unitRef="iso4217-usd">-9886000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809683" unitRef="iso4217-usd">-9468000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809684" unitRef="iso4217-usd">-52409000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809793" unitRef="iso4217-usd">-2739000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" decimals="-3" id="c59809794" unitRef="iso4217-usd">-5712000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" decimals="-3" id="c59809795" unitRef="iso4217-usd">14100000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809796" unitRef="iso4217-usd">-92209000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809797" unitRef="iso4217-usd">-86560000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809906" unitRef="iso4217-usd">6852000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" decimals="-3" id="c59809907" unitRef="iso4217-usd">1523000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" decimals="-3" id="c59809908" unitRef="iso4217-usd">-42327000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809909" unitRef="iso4217-usd">-27536000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809910" unitRef="iso4217-usd">-61488000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809949" unitRef="iso4217-usd">-97240000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59809950" unitRef="iso4217-usd">-113897000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
  <ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AR" decimals="-6" id="c59808526" unitRef="iso4217-usd">-46000000</ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes>
  <ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US" decimals="-6" id="c59808527" unitRef="iso4217-usd">-15000000</ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes>
  <ifrs-full:DeferredTaxLiabilities contextRef="i_2019-12-31_MaturityAxis-LaterThanOneYearMember" decimals="-3" id="c59809931" unitRef="iso4217-usd">766852000</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="i_2018-12-31_MaturityAxis-LaterThanOneYearMember" decimals="-3" id="c59809932" unitRef="iso4217-usd">739670000</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59809935" unitRef="iso4217-usd">336982000</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59809936" unitRef="iso4217-usd">379039000</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810951" unitRef="iso4217-usd">3000000</ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate>
  <ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810472" unitRef="iso4217-sar">47000000</ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate>
  <ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810473" unitRef="iso4217-usd">13000000</ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" decimals="-3" id="c59809497" unitRef="iso4217-usd">710995000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" decimals="-3" id="c59809498" unitRef="iso4217-usd">25048000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809499" unitRef="iso4217-usd">46532000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809500" unitRef="iso4217-usd">782575000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" decimals="-3" id="c59809587" unitRef="iso4217-usd">651339000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" decimals="-3" id="c59809588" unitRef="iso4217-usd">19396000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809589" unitRef="iso4217-usd">118062000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809590" unitRef="iso4217-usd">788797000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" decimals="-3" id="c59809609" unitRef="iso4217-usd">744926000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" decimals="-3" id="c59809610" unitRef="iso4217-usd">34934000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809611" unitRef="iso4217-usd">55585000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809612" unitRef="iso4217-usd">835445000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809721" unitRef="iso4217-usd">-16116000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" decimals="-3" id="c59809722" unitRef="iso4217-usd">-86585000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" decimals="-3" id="c59809723" unitRef="iso4217-usd">-396257000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809724" unitRef="iso4217-usd">-86184000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809725" unitRef="iso4217-usd">-585142000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809811" unitRef="iso4217-usd">-19653000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" decimals="-3" id="c59809812" unitRef="iso4217-usd">-93404000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" decimals="-3" id="c59809813" unitRef="iso4217-usd">-382832000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809814" unitRef="iso4217-usd">-181606000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809815" unitRef="iso4217-usd">-677495000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809834" unitRef="iso4217-usd">-26475000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" decimals="-3" id="c59809835" unitRef="iso4217-usd">-89555000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" decimals="-3" id="c59809836" unitRef="iso4217-usd">-354944000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809837" unitRef="iso4217-usd">-60033000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809838" unitRef="iso4217-usd">-531007000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2019-12-31" decimals="-3" id="c59809937" unitRef="iso4217-usd">111302000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2018-12-31" decimals="-3" id="c59809938" unitRef="iso4217-usd">197433000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DeferredTaxLiabilityAsset contextRef="i_2017-12-31" decimals="-3" id="c59809940" unitRef="iso4217-usd">304438000</ifrs-full:DeferredTaxLiabilityAsset>
  <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810034" unitRef="iso4217-usd">160412000</ifrs-full:DefinedBenefitObligationAtPresentValue>
  <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810035" unitRef="iso4217-usd">146885000</ifrs-full:DefinedBenefitObligationAtPresentValue>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808020" unitRef="iso4217-usd">523000000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808021" unitRef="iso4217-usd">17000000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808022" unitRef="iso4217-usd">540000000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808023" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808068" unitRef="iso4217-usd">645000000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808069" unitRef="iso4217-usd">19000000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808070" unitRef="iso4217-usd">664000000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808071" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808120" unitRef="iso4217-usd">594000000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808121" unitRef="iso4217-usd">15000000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808122" unitRef="iso4217-usd">609000000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808123" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808165" unitRef="iso4217-usd">276046000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808166" unitRef="iso4217-usd">105308000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808167" unitRef="iso4217-usd">82400000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808168" unitRef="iso4217-usd">42520000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808169" unitRef="iso4217-usd">33247000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808170" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808171" unitRef="iso4217-usd">539521000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808172" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808214" unitRef="iso4217-usd">441705000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808215" unitRef="iso4217-usd">108558000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808216" unitRef="iso4217-usd">82769000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808217" unitRef="iso4217-usd">10389000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808218" unitRef="iso4217-usd">20936000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808219" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808220" unitRef="iso4217-usd">664357000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808221" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808263" unitRef="iso4217-usd">354091000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808264" unitRef="iso4217-usd">126273000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808265" unitRef="iso4217-usd">93900000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808266" unitRef="iso4217-usd">12094000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808267" unitRef="iso4217-usd">22282000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808268" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808269" unitRef="iso4217-usd">608640000</ifrs-full:DepreciationAndAmortisationExpense>
  <ifrs-full:DepreciationAndAmortisationExpense contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808270" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808653" unitRef="iso4217-usd">11409000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808654" unitRef="iso4217-usd">415826000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808655" unitRef="iso4217-usd">20080000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808656" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808657" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808658" unitRef="iso4217-usd">447315000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808733" unitRef="iso4217-usd">11153000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808734" unitRef="iso4217-usd">417229000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808735" unitRef="iso4217-usd">21083000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808736" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808737" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DepreciationPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808738" unitRef="iso4217-usd">449465000</ifrs-full:DepreciationPropertyPlantAndEquipment>
  <ifrs-full:DepreciationRightofuseAssets contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808988" unitRef="iso4217-usd">8514000</ifrs-full:DepreciationRightofuseAssets>
  <ifrs-full:DepreciationRightofuseAssets contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808989" unitRef="iso4217-usd">31869000</ifrs-full:DepreciationRightofuseAssets>
  <ifrs-full:DepreciationRightofuseAssets contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808990" unitRef="iso4217-usd">3908000</ifrs-full:DepreciationRightofuseAssets>
  <ifrs-full:DepreciationRightofuseAssets contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808991" unitRef="iso4217-usd">44291000</ifrs-full:DepreciationRightofuseAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31_ClassesOfAssetsAxis-DerivativesMember" decimals="-3" id="c59807655" unitRef="iso4217-usd">19929000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-DerivativesMember" id="c59807656" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-DerivativesMember" id="c59807657" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-DerivativesMember" decimals="-3" id="c59807658" unitRef="iso4217-usd">19929000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807659" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807660" unitRef="iso4217-usd">19929000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807661" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31_ClassesOfAssetsAxis-DerivativesMember" decimals="-3" id="c59807832" unitRef="iso4217-usd">9173000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-DerivativesMember" id="c59807833" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-DerivativesMember" id="c59807834" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-DerivativesMember" decimals="-3" id="c59807835" unitRef="iso4217-usd">9173000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807836" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807837" unitRef="iso4217-usd">9173000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807838" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-DerivativesHedgingBorrowingsAndInvestmentsMember" decimals="-3" id="c59810234" unitRef="iso4217-usd">19000000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-DerivativesHedgingBorrowingsAndInvestmentsMember" decimals="-3" id="c59810235" unitRef="iso4217-usd">5604000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-OtherDerivativesMember" decimals="-3" id="c59810236" unitRef="iso4217-usd">929000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-OtherDerivativesMember" decimals="-3" id="c59810237" unitRef="iso4217-usd">3621000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2019-12-31" decimals="-3" id="c59810238" unitRef="iso4217-usd">19929000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialAssets contextRef="i_2018-12-31" decimals="-3" id="c59810239" unitRef="iso4217-usd">9225000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember" decimals="-3" id="c59807740" unitRef="iso4217-usd">1814000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember" id="c59807741" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember" id="c59807742" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember" decimals="-3" id="c59807743" unitRef="iso4217-usd">1814000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807744" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807745" unitRef="iso4217-usd">1814000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807746" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember" decimals="-3" id="c59807910" unitRef="iso4217-usd">11978000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember" id="c59807911" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember" id="c59807912" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember" decimals="-3" id="c59807913" unitRef="iso4217-usd">11978000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807914" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807915" unitRef="iso4217-usd">11978000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807916" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-DerivativesHedgingBorrowingsAndInvestmentsMember" id="c59810240" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-DerivativesHedgingBorrowingsAndInvestmentsMember" decimals="-3" id="c59810241" unitRef="iso4217-usd">11667000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-OtherDerivativesMember" decimals="-3" id="c59810242" unitRef="iso4217-usd">1814000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-OtherDerivativesMember" decimals="-3" id="c59810243" unitRef="iso4217-usd">311000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59810244" unitRef="iso4217-usd">1814000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59810245" unitRef="iso4217-usd">11978000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807126">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;M&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Borrowings&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Borrowings are recognized initially at fair value net of transaction costs incurred and subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807140">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0"&gt;T&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Earnings per share&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Earnings per share are calculated by dividing the income attributable to owners of the parent by the daily weighted average number of common shares outstanding during the year.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; dilutive potential ordinary shares.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807130">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;O&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Employee benefits&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Short-term obligations&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Liabilities for wages and salaries are recognized in respect of employees&amp;#x2019; services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Post employment benefits&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt; font-style: italic; text-align: justify; text-indent: -22.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company has defined benefit and defined contribution plans. A defined benefit plan is a pension plan that defines an amount of pension benefit that an employee will receive on retirement, usually dependent on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; or more factors such as age, years of service and compensation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets, if any. The defined benefit obligation is calculated annually (at year end) by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in &lt;div style="display: inline; font-style: italic;"&gt;Other comprehensive income&lt;/div&gt; in the period in which they arise. Past-service costs are recognized immediately in the Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For defined benefit plans, net interest income/expense is calculated based on the surplus or deficit derived by the difference between the defined benefit obligations less fair value of plan assets. For defined contribution plans, the Company pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Company has &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; further payment obligations once the contributions have been paid. The contributions are recognized as employee benefit expenses when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris sponsors funded and unfunded defined benefit pension plans in certain subsidiaries. The most significant are:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;An unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed to provide certain benefits to those officers (additional to those contemplated under applicable labor laws) in case of termination of the employment relationship due to certain specified events, including retirement. This unfunded plan provides defined benefits based on years of service and final average salary. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the outstanding liability for this plan amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$45.3&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Employees&amp;#x2019; service rescission indemnity: the cost of this obligation is charged to the Consolidated Income Statement over the expected service lives of employees. This provision is primarily related to the liability accrued for employees at Tenaris&amp;#x2019;s Italian subsidiary. As from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2007 &lt;/div&gt;as a consequence of a change in an Italian law, employees were entitled to make contributions to external funds, thus, Tenaris&amp;#x2019;s Italian subsidiary pays every year the required contribution to the funds with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; further obligation. As a result, the plan changed from a defined benefit plan to a defined contribution plan effective from that date, but only limited to the contributions of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2007&lt;/div&gt; onwards. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the outstanding liability for this plan amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$17.3&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Funded retirement benefit plans held in Canada for salary and hourly employees hired prior to a certain date based on years of service and, in the case of salaried employees, final average salary. Plan assets consist primarily of investments in equities and money market funds. Both plans were replaced for defined contribution plans. Effective &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 2016 &lt;/div&gt;the salary plan was frozen for the purposes of credited service as well as determination of final average pay. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the outstanding liability for this plan amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$9.8&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Funded retirement benefit plan held in the US for the benefit of some employees hired prior a certain date, frozen for the purposes of credited service as well as determination of final average pay for the retirement benefit calculation. Plan assets consist primarily of investments in equities and money market funds. Additionally, an unfunded postretirement health and life plan is present that offers limited medical and life insurance benefits to the retirees, hired before a certain date. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the outstanding liability for these plans amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$13.4&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 123 --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Other long term benefits&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;During &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2007,&lt;/div&gt; Tenaris launched an employee retention and long term incentive program (the &amp;#x201c;Program&amp;#x201d;) applicable to certain senior officers and employees of the Company, who will be granted a number of Units throughout the duration of the Program. The value of each of these Units is based on Tenaris&amp;#x2019;s shareholders&amp;#x2019; equity (excluding non-controlling interest). Also, the beneficiaries of the Program are entitled to receive cash amounts based on (i) the amount of dividend payments made by Tenaris to its shareholders, and (ii) the number of Units held by each beneficiary to the Program. Until &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; units were vested ratably over a period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;four&lt;/div&gt; years and were mandatorily redeemed by the Company &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;ten&lt;/div&gt; years after grant date, with the option of an early redemption at &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;seven&lt;/div&gt; years after the grant date. Since &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; units are vested ratably over the same period and are mandatorily redeemed by the Company &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;seven&lt;/div&gt; years after grant date. The payment of the benefit is tied to the book value of the shares, and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; to their market value. Tenaris valued this long-term incentive program as a long term benefit plan as classified in IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,&lt;/div&gt; &amp;#x201c;Employee Benefits&amp;#x201d;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; the outstanding liability corresponding to the Program amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$99.0&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$91.2&lt;/div&gt; million, respectively. The total value of the units granted (vested and unvested) to date under the program, considering the number of units and the book value per share as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$119.9&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$106&lt;/div&gt; million, respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;Termination benefits&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Termination benefits are payable when employment is terminated by Tenaris before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. Tenaris recognizes termination benefits at the earlier of the following dates: (a) when it can &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; longer withdraw the offer of those benefits; and (b) when the costs for a restructuring that is within the scope of IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;37&lt;/div&gt; and involves the payment of terminations benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Other compensation obligations&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Employee entitlements to annual leave, long-service leave, sick leave and other bonuses and compensations obligations are accrued as earned.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 66.55pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Compensation to employees in the event of dismissal is charged to income in the year in which it becomes payable.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807138">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0"&gt;S&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Cost of sales and other selling expenses&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cost of sales and other selling expenses are recognized in the Consolidated Income Statement on the accrual basis of accounting.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Commissions, freights and other selling expenses, including shipping and handling costs, are recorded in &lt;div style="display: inline; font-style: italic;"&gt;Selling, general and administrative expenses &lt;/div&gt;in the Consolidated Income Statement.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807142">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0"&gt;U&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Financial instruments&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non derivative financial instruments comprise investments in financial debt instruments and equity, time deposits, trade and other receivables, cash and cash equivalents, borrowings and trade and other payables.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company classifies its financial instruments according to the following measurement categories:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;those to be measured subsequently at fair value (either through OCI or through profit or loss), and&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;those to be measured at amortised cost&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The classification depends on the Company&amp;#x2019;s business model for managing the financial assets and contractual terms of the cash flows.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial assets are recognized on their settlement date. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expenses in profit or loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Subsequent measurement of debt instruments depends on the Company&amp;#x2019;s business model for managing the asset and the cash flow characteristics of the asset. There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; measurement categories into which the Company classifies its debt instruments:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Amortized Cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Fair value through other comprehensive income: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets&amp;#x2019; cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Fair value through profit and loss (&amp;#x201c;FVPL&amp;#x201d;): Assets that do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; meet the criteria for amortized cost or FVOCI. Changes in fair value of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For equity instruments, these are subsequently measured at fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Accounting for derivative financial instruments and hedging activities is included within the Section III, Financial Risk Management.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807108">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: left"&gt;D&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Foreign currency translation&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Functional and presentation currency&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21&lt;/div&gt; (revised), &amp;#x201c;The effects of changes in foreign exchange rates&amp;#x201d; defines the functional currency as the currency of the primary economic environment in which an entity operates.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The functional and presentation currency of the Company is the U.S. dollar. The U.S. dollar is the currency that best reflects the economic substance of the underlying events and circumstances relevant to Tenaris&amp;#x2019;s global operations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Except for the Brazilian and Italian subsidiaries whose functional currencies are their local currencies, Tenaris determined that the functional currency of its other subsidiaries is the U.S. dollar, based on the following principal considerations:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Sales are mainly negotiated, denominated and settled in U.S. dollars. If priced in a currency other than the U.S. dollar, the sales price &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;consider exposure to fluctuation in the exchange rate versus the U.S. dollar;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Prices of their critical raw materials and inputs are priced and settled in U.S. dollars;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Transaction and operational environment and the cash flow of these operations have the U.S. dollar as reference currency;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Significant level of integration of the local operations within Tenaris&amp;#x2019;s international global distribution network;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Net financial assets and liabilities are mainly received and maintained in U.S. dollars;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;The exchange rate of certain legal currencies has long-been affected by recurring and severe economic crises.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Transactions in currencies other than the functional currency&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuation where items are re-measured. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when the fair value was determined. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included in &lt;div style="display: inline; font-style: italic;"&gt;Other financial results&lt;/div&gt; in the Consolidated Income Statement, except when deferred in equity as qualifying cash flow hedges and qualifying net investment hedges. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Translation of financial information in currencies other than the functional currency&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Results of operations for subsidiaries whose functional currencies are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; the U.S. dollar are translated into U.S. dollars at the average exchange rates for each quarter of the year. Financial statement positions are translated at the year-end exchange rates. Translation differences are recognized in a separate component of equity as currency translation adjustments. In the case of a sale or other disposal of any of such subsidiaries, any accumulated translation difference would be recognized in income as a gain or loss from the sale.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill and fair value adjustments arising from the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing rate.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807114">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;G&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Impairment of non-financial assets&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Long-lived assets including identifiable intangible assets are reviewed for impairment at the lowest level for which there are separately identifiable cash flows (cash generating units, or CGU). Most of the Company&amp;#x2019;s principal subsidiaries that constitute a CGU have a single main production facility and, accordingly, each of such subsidiary represents the lowest level of asset aggregation that generates largely independent cash inflows.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; be recoverable. Intangible assets with indefinite useful lives, including goodwill, are subject to at least an annual impairment test.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In assessing whether there is any indication that a CGU &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be impaired, external and internal sources of information are analyzed. Material facts and circumstances specifically considered in the analysis usually include the discount rate used in Tenaris&amp;#x2019;s cash flow projections and the business condition in terms of competitive and economic factors, such as the cost of raw materials, oil and gas prices, capital expenditure programs for Tenaris&amp;#x2019;s customers and the evolution of the rig count.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;An impairment loss is recognized for the amount by which the asset&amp;#x2019;s carrying amount exceeds its recoverable amount. The recoverable amount is the higher between the asset&amp;#x2019;s value in use and fair value less costs of disposal. Any impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the following order:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: right"&gt;(a)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;first, to reduce the carrying amount of any goodwill allocated to the CGU; and&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: right"&gt;(b)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;then, to the other assets of the unit (group of units) pro-rata on the basis of the carrying amount of each asset in the unit (group of units), considering &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; to reduce the carrying amount of the asset below the highest of its fair value less cost of disposal, its value in use or zero.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;For purposes of calculating the fair value less costs of disposal, Tenaris uses the estimated value of future cash flows that a market participant could generate from the corresponding CGU.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management judgment is required to estimate discounted future cash flows. Actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived using discounting techniques.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at each reporting date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris regularly conducts assessments of the carrying values of its assets. The value-in-use was used to determine the recoverable value. Value-in-use is calculated by discounting the estimated cash flows over a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;five&lt;/div&gt;-year period based on forecasts approved by management. For the subsequent years beyond the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;five&lt;/div&gt;-year period, a terminal value is calculated based on perpetuity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris&amp;#x2019;s main source of revenue is the sale of products and services to the oil and gas industry and the level of such sales is sensitive to international oil and gas prices and their impact on drilling activities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For purposes of assessing key assumptions, Tenaris uses external sources of information and management judgment based on past experience.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The main key assumptions used in estimating the value in use are discount rate, growth rate and competitive and economic factors applied to determine Tenaris&amp;#x2019;s cash flow projections, such as oil and gas prices, average number of active oil and gas drilling rigs (rig count) and raw material costs.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management has determined the value of each of the key assumptions as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Discount rate: based on the applicable weighted average cost of capital (WACC), which is considered to be a good indicator of capital cost, taking into account the industry, country and size of the business. For each CGU where assets are allocated, a specific WACC was determined taking into account the industry, country and size of the business. In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; the main discount rates used were in a range between &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8.2%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15.9%.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Growth rate: considers the long-term average growth rate for the oil and gas industry, the inflation impact on prices and costs, the higher demand to offset depletion of existing fields and the Company&amp;#x2019;s expected market penetration. In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; a nominal growth rate of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2%&lt;/div&gt; was considered.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Oil and gas prices: based on industry analysts&amp;#x2019; reports and&amp;nbsp;management&amp;#x2019;s expectations of market development respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Rig count: based on information published by Baker Hughes and management&amp;#x2019;s expectations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Raw material costs: based on industry analysts&amp;#x2019; reports and management&amp;#x2019;s expectations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The main factors that could result in additional impairment charges in future periods would be an increase in the discount rate or a decrease in growth rate used in the Company&amp;#x2019;s cash flow projections, a deterioration of the business, competitive and economic factors, such as a decrease in oil and gas prices, and the evolution of the rig count.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For the CGU with significant amount of goodwill assigned in comparison to the total amount of goodwill, Tenaris has determined that the CGU for which a reasonable possible change in the key assumption would cause the CGUs&amp;#x2019; carrying amount to exceed its recoverable amount was OCTG USA.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In OCTG USA, the recoverable amount calculated based on value in use exceeded carrying value by &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$108&lt;/div&gt; million as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019. &lt;/div&gt;The following changes in key assumptions, at CGU OCTG &amp;#x2013; USA, assuming unchanged values for the other assumptions, would cause the recoverable amount to be equal to the respective carrying value as of the impairment tests:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 76%; border: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Increase in the discount rate&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;95 Bps&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease of the growth rate&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-1.6 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease of the cash flow projections&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-15.3 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;No&lt;/div&gt; impairment charge was recorded in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807112">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;F&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Intangible assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Goodwill&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;Goodwill represents the excess of the acquisition cost over the fair value of Tenaris&amp;#x2019;s share of net identifiable assets acquired as part of business combinations determined mainly by independent valuations. Goodwill is tested at least annually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; reversed. Goodwill is included in the Consolidated Statement of Financial Position under &lt;/div&gt;Intangible assets, net.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;For the purpose of impairment testing, goodwill is allocated to a CGU or group of CGUs that are expected to benefit from the business combination which generated the goodwill being tested. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Information systems projects&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Costs associated with maintaining computer software programs are generally recognized as an expense as incurred. However, costs directly related to the development, acquisition and implementation of information systems are recognized as intangible assets if it is probable that they have economic benefits exceeding &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; year and comply with the recognition criteria of IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38,&lt;/div&gt; &amp;#x201c;Intangible Assets&amp;#x201d;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 117 --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Information systems projects recognized as assets are amortized using the straight-line method over their useful lives, generally &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; exceeding a period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt; years. Amortization charges are mainly classified as &lt;div style="display: inline; font-style: italic;"&gt;Selling, general and administrative expenses&lt;/div&gt; in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management&amp;#x2019;s re-estimation of assets useful lives, performed in accordance with IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38,&lt;/div&gt; did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; materially affect amortization expenses for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Licenses, patents, trademarks and proprietary technology&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Licenses, patents, trademarks, and proprietary technology acquired in a business combination are initially recognized at fair value at the acquisition date. Licenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their estimated useful lives, and does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; exceed a period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10&lt;/div&gt; years. Amortization charges are mainly classified as &lt;div style="display: inline; font-style: italic;"&gt;Selling, general and administrative expenses&lt;/div&gt; in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The balance of acquired trademarks that have indefinite useful lives according to external appraisal amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$86.7&lt;/div&gt; million at &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017,&lt;/div&gt; and are included in Hydril CGU. Main factors considered in the determination of the indefinite useful lives include the years that they have been in service and their recognition among customers in the industry.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management&amp;#x2019;s re-estimation of assets useful lives, performed in accordance with IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38,&lt;/div&gt; did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; materially affect amortization expenses for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Research and development&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Research expenditures as well as development costs that do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; fulfill the criteria for capitalization are recorded as &lt;div style="display: inline; font-style: italic;"&gt;Cost of sales&lt;/div&gt; in the Consolidated Income Statement as incurred. Research and development expenditures included in &lt;div style="display: inline; font-style: italic;"&gt;Cost of sales&lt;/div&gt; for the years &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; totaled &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$61.1&lt;/div&gt; million, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$63.4&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$63.7&lt;/div&gt; million, respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Capitalized costs were &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; material for the years &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: -0.5in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Customer relationships&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 13.85pt; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify"&gt;In accordance with IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,&lt;/div&gt; "Business Combinations" and IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38,&lt;/div&gt; Tenaris has recognized the value of customer relationships separately from goodwill attributable to the acquisition of Maverick and Hydril groups, as well as the more recent acquisition of SSP.&lt;/div&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify"&gt;Customer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight line method over the initial expected useful life of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14&lt;/div&gt; years for Maverick, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10&lt;/div&gt; years for Hydril and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt; years for SSP.&lt;/div&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; the Company reviewed the useful life of Maverick&amp;#x2019;s Tubes customer relationships and decided to reduce the remaining useful life from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt; years to zero, consequently a higher amortization charge of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$109&lt;/div&gt; million was recorded in the Consolidated Income Statement under &lt;div style="display: inline; font-style: italic;"&gt;Selling, general and administrative expenses&lt;/div&gt; for the year ended &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the net book value of SSP&amp;#x2019;s customer relationship amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$72.9&lt;/div&gt; million, with a residual useful life of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt; years. Maverick&amp;#x2019;s coiled tubing customer relationships amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$9.9&lt;/div&gt; million with a residual useful life of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt; year, while Hydril&amp;#x2019;s customer relationships is fully amortized.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807104">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;B&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Group accounting&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Subsidiaries and transactions with non-controlling interests&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Subsidiaries are all entities over which Tenaris has control. Tenaris controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is exercised by the Company and are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; longer consolidated from the date control ceases.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The acquisition method of accounting is used to account for the acquisition of subsidiaries by Tenaris. The cost of an acquisition is measured as the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed at the date of exchange. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at the non-controlling interest&amp;#x2019;s proportionate share of the acquiree&amp;#x2019;s net assets. The excess of the aggregate of the consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 112 --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Contingent consideration is classified either as equity or as a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If the business combination is achieved in stages, the acquisition date carrying value of the acquirer&amp;#x2019;s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Transactions with non-controlling interests that do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; result in a loss of control are accounted as transactions with equity owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When the Company ceases to have control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Material intercompany transactions, balances and unrealized gains (losses) on transactions between Tenaris subsidiaries have been eliminated in consolidation. However, since the functional currency of some subsidiaries is its respective local currency, some financial gains (losses) arising from intercompany transactions are generated. These are included in the Consolidated Income Statement under &lt;div style="display: inline; font-style: italic;"&gt;Other financial results&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Non-consolidated companies&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-consolidated companies are all entities in which Tenaris has significant influence but &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; control, generally accompanying a shareholding of between &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;50%&lt;/div&gt; of the voting rights. Investments in non-consolidated companies (associated and joint ventures) are accounted for by the equity method of accounting and are initially recognized at cost. The Company&amp;#x2019;s investment in non-consolidated companies includes goodwill identified in acquisition, net of any accumulated impairment loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Under the equity method of accounting, the investments are initially recognized at cost and adjusted thereafter to recognize Tenaris&amp;#x2019;s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris&amp;#x2019;s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated to the extent of Tenaris&amp;#x2019;s interest in the non-consolidated companies. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment indicator of the asset transferred. Financial statements of non-consolidated companies have been adjusted where necessary to ensure consistency with IFRS.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;The Company&amp;#x2019;s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income Statement under &lt;/div&gt;Equity in earnings (losses) of non-consolidated companies&lt;div style="display: inline; font-style: normal"&gt;. The Company&amp;#x2019;s pro-rata share of changes in other comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 113 --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;Ternium&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;Tenaris holds &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.46%&lt;/div&gt; of Ternium S.A (&amp;#x201c;Ternium&amp;#x201d;)&amp;#x2019;s common stock. The following factors and circumstances evidence that Tenaris has significant influence (as defined by IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,&lt;/div&gt; &amp;#x201c;Investments in associates companies and Joint Ventures&amp;#x201d;) over Ternium, and as a result the Company&amp;#x2019;s investment in Ternium has been accounted for under the equity method:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Both the Company and Ternium are under the indirect common control of San Faustin S.A.;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Four out of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;eight&lt;/div&gt; members of Ternium&amp;#x2019;s Board of Directors (including Ternium&amp;#x2019;s Chairman) are also members of the Company&amp;#x2019;s Board of Directors;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Under the shareholders&amp;#x2019; agreement by and between the Company and Techint Holdings S.&amp;agrave; r.l, a wholly owned subsidiary of San Faustin S.A. and Ternium&amp;#x2019;s main shareholder, dated &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 9, 2006, &lt;/div&gt;Techint Holdings S.&amp;agrave;.r.l, is required to take actions within its power to cause (a) &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; of the members of Ternium&amp;#x2019;s Board of Directors to be nominated by the Company and (b) any director nominated by the Company to be only removed from Ternium&amp;#x2019;s Board of Directors pursuant to previous written instructions of the Company.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Usiminas&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;Tenaris holds through its Brazilian subsidiary Confab Industrial S.A. (&amp;#x201c;Confab&amp;#x201d;), &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5.2%&lt;/div&gt; of the shares with voting rights and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.07%&lt;/div&gt; of Usinas Sider&amp;uacute;rgicas de Minas Gerais S.A. (&amp;#x201c;Usiminas&amp;#x201d;) total share capital.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The acquisition of Usiminas shares was part of a larger transaction performed &lt;div style="display: inline; color: black"&gt;on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 16, 2012,&lt;/div&gt;&lt;/div&gt; pursuant to which Ternium, certain of its subsidiaries and Confab joined Usiminas&amp;#x2019; existing control group through the acquisition of ordinary shares representing &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27.7%&lt;/div&gt; of Usiminas&amp;#x2019; total voting capital and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13.8%&lt;/div&gt; of Usiminas&amp;#x2019; total share capital. &lt;div style="display: inline; color: black"&gt;A shareholders&amp;#x2019; agreement governed the rights and obligations of the several control group members.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 2016 &lt;/div&gt;Tenaris&amp;#x2019;s subsidiary Confab subscribed, in the aggregate, to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1.3&lt;/div&gt; million preferred shares (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL1.28&lt;/div&gt; per share) for a total amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL1.6&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.5&lt;/div&gt; million) and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.5&lt;/div&gt; million ordinary shares (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL5.00&lt;/div&gt; per share) for a total amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL57.5&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$16.6&lt;/div&gt; million). The preferred and ordinary shares were issued on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 3, 2016 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; July 19, 2016, &lt;/div&gt;respectively. Consequently as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;Tenaris owns &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36.5&lt;/div&gt; million ordinary shares and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1.3&lt;/div&gt; million preferred shares of Usiminas.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2014,&lt;/div&gt; a conflict arose between the T/T Group (comprising Confab and Ternium&amp;#x2019;s subsidiaries Ternium Investments, Ternium Argentina and Prosid Investments) and Nippon Steel &amp;amp; Sumitomo Metal Corporation (&amp;#x201c;NSSMC&amp;#x201d;) with respect to the governance of Usiminas.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 8, 2018, &lt;/div&gt;Ternium Investments resolved the dispute with NSSMC, and on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April 10, 2018, &lt;/div&gt;the T/T Group entities (including Confab), NSSMC and Previd&amp;ecirc;ncia Usiminas entered into a new shareholders&amp;#x2019; agreement for Usiminas, amending and restating the previously existing shareholders agreement (the &amp;#x201c;New SHA&amp;#x201d;). Usiminas&amp;#x2019; control group now holds, in the aggregate, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;483.6&lt;/div&gt; million ordinary shares bound to the New SHA, representing approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;68.6%&lt;/div&gt; of Usiminas&amp;#x2019; voting capital, with the T/T Group holding approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47.1%&lt;/div&gt; of the total shares held by the control group (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;39.5%&lt;/div&gt; corresponding to the Ternium entities and the other &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7.6%&lt;/div&gt; corresponding to Confab); NSSMC holding approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;45.9%&lt;/div&gt; of the total shares held by the control group; and Previd&amp;ecirc;ncia Usiminas holding the remaining &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7%&lt;/div&gt; of the total shares held by the control group.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The New SHA reflects the agreed-upon corporate governance rules for Usiminas, including, among others, an alternation mechanism for the nomination of each of the chief executive officer and the Chairman of the board of directors, as well as a mechanism for the nomination of other members of Usiminas&amp;#x2019; executive board. The New SHA also incorporates an exit mechanism consisting of a buy-and-sell procedure, exercisable at any time during the term of the New SHA after the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;fourth&lt;/div&gt;-and-a-half-year anniversary from the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 2018 &lt;/div&gt;election of Usiminas&amp;#x2019; executive board. Such exit mechanism shall apply with respect to shares held by NSSMC and the T/T Group, and would allow either Ternium or NSSMC to purchase all or a majority of the Usiminas shares held by the other shareholder.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 114 --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In connection with the execution of the New SHA, Confab and the Ternium entities amended and restated their separate shareholders&amp;#x2019; agreement governing their respective rights and obligations as members of the T/T Group to include provisions relating to the exit mechanism and generally to conform such separate shareholders&amp;#x2019; agreement to the other provisions of the New SHA. The rights of Confab and Ternium and its subsidiaries within the Ternium - Tenaris Group are governed under such amended and restated separate shareholders agreement. Those circumstances evidence that Tenaris has significant influence over Usiminas, and consequently, accounted it for under the equity method (as defined by IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Techgen&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Techgen S.A. de C.V. (&amp;#x201c;Techgen&amp;#x201d;) is a Mexican joint venture company owned &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48%&lt;/div&gt; by Ternium, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30%&lt;/div&gt; by Tecpetrol International S.A. and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22%&lt;/div&gt; by Tenaris. Techgen operates a natural gas-fired combined electric power plant in the Pesquer&amp;iacute;a area of the State of Nuevo Leon, M&amp;eacute;xico. Tenaris, Ternium and Tecpetrol International S.A. are parties to a shareholders&amp;#x2019; agreement relating to the governance of Techgen. In addition, the Company, Ternium and Tecpetrol International S.A. are under the indirect common control of San Faustin S.A., consequently Tenaris accounted it&amp;#x2019;s interest under the equity method (as defined by IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris carries its investment in Ternium, Usiminas and Techgen under the equity method, with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; additional goodwill or intangible assets recognized. Tenaris reviews investments in non-consolidated companies for impairment whenever events or changes in circumstances indicate that the asset&amp;#x2019;s carrying amount &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; be recoverable. At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; impairment provisions were recorded in any of the aforementioned investments. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807116">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;H&lt;/div&gt; &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;div style="display: inline; font-weight: bold;"&gt;Other investments&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other investments consist primarily of investments in financial instruments and time deposits with a maturity of more than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; months at the date of purchase.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Certain non-derivative financial assets that the Company held &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; for trading have been categorized as financial assets &amp;#x201c;at fair value through other comprehensive income&amp;#x201d; (&amp;#x201c;FVOCI&amp;#x201d;). They are carried at fair value and interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold. Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income Statement. FVOCI instruments with maturities greater than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; months after the balance sheet date are included in non-current assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other investments in financial instruments and time deposits are categorized as financial assets &amp;#x201c;at fair value through profit or loss&amp;#x201d; because such investments are held for trading and their performance is evaluated on a fair value basis. The results of these investments are recognized in &lt;div style="display: inline; font-style: italic;"&gt;Financial Results&lt;/div&gt; in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Purchases and sales of financial investments are recognized as of their settlement date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair values of quoted investments are generally based on current bid prices. If the market for a financial investment is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; active or the securities are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; listed, Tenaris estimates the fair value by using standard valuation techniques. See Section III Financial Risk Management.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807124">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;L&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Equity&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Equity components&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Consolidated Statement of Changes in Equity includes:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;The value of share capital, legal reserve, share premium and other distributable reserves calculated in accordance with Luxembourg law;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;The currency translation adjustment, other reserves, retained earnings and non-controlling interest calculated in accordance with IFRS.&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Share capital&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company has an authorized share capital of a single class of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2.5&lt;/div&gt; billion shares having a nominal value of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.00&lt;/div&gt; per share. Total ordinary shares issued and outstanding as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,180,536,830&lt;/div&gt; with a par value of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.00&lt;/div&gt; per share with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; vote each. All issued shares are fully paid.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Dividends distribution by the Company to shareholders&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Dividends distributions are recorded in the Company&amp;#x2019;s financial statements when Company&amp;#x2019;s shareholders have the right to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with the by-laws of the Company.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Dividends &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be paid by the Company to the extent that it has distributable retained earnings, calculated in accordance with Luxembourg law. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25&lt;/div&gt; (iii).&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories contextRef="d_2019-01-01_2019-12-31" id="c59807118">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;I&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Inventories&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Inventories are stated at the lower between cost and net realizable value. The cost of finished goods and goods in process is comprised of raw materials, direct labor, utilities, freights and other direct costs and related production overhead costs, and it excludes borrowing costs. The allocation of fixed production costs, including depreciation and amortization charges, is based on the normal level of production capacity. Inventories cost is mainly based on the FIFO method. Tenaris estimates net realizable value of inventories by grouping, where applicable, similar or related items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated costs of completion and selling expenses. Goods in transit as of year-end are valued based on the supplier&amp;#x2019;s invoice cost.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris establishes an allowance for obsolete or slow-moving inventories related to finished goods, goods in process, supplies and spare parts. For slow moving or obsolete finished products, an allowance is established based on management&amp;#x2019;s analysis of product aging. An allowance for obsolete and slow-moving inventory of supplies and spare parts is established based on management's analysis of such items to be used as intended and the consideration of potential obsolescence due to technological changes, aging and consumption patterns.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories>
  <ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807144">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0"&gt;V&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Non-current assets held for sale and discontinued operations&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits and financial assets that are carried at fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;An impairment loss is recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. A gain is recognized for any subsequent increase in fair value less costs to sell of an asset (or disposal group), but &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; in excess of any cumulative impairment loss previously recognized.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-current assets (including those that are part of a disposal group) are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; depreciated or amortized while they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue to be recognized.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the balance sheet.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A discontinued operation is a component of the entity that has been disposed of or is classified as held for sale and that represents a separate line of business or geographical area of operations, is part of a single coordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operations are presented separately in the Consolidated Income Statement. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807110">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;E&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Property, plant and equipment&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Property, plant and equipment are recognized at historical acquisition or construction cost less accumulated depreciation and impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Property, plant and equipment acquired through acquisitions accounted for as business combinations have been valued initially at the fair market value of the assets acquired.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Major overhaul and rebuilding expenditures are capitalized as property, plant and equipment only when it is probable that future economic benefits associated with the item will flow to the Company and the investment enhances the condition of assets beyond its original condition. The carrying amount of the replaced part is derecognized. Maintenance expenses on manufacturing properties are recorded as cost of products sold in the year in which they are incurred.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cost &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;also include transfers from equity of any gains or losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Borrowing costs that are attributable to the acquisition or construction of certain capital assets are capitalized as part of the cost of the asset, in accordance with IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23&lt;/div&gt;(R), &amp;#x201c;Borrowing Costs&amp;#x201d;. Assets for which borrowing costs are capitalized are those that require a substantial period of time to prepare for their intended use.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The depreciation method is reviewed at each year end. Depreciation is calculated using the straight-line method to depreciate the cost of each asset to its residual value over its estimated useful life, as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"&gt; &lt;tr&gt; &lt;td style="vertical-align: top; width: 4%; text-align: justify"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top; width: 56%; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Land&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 40%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;No Depreciation&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Buildings and improvements &lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30-50 years&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Plant and production equipment &lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10-40 years&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Vehicles, furniture and fixtures, and other equipment&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4-10 years&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The assets&amp;#x2019; residual values and useful lives of significant plant and production equipment are reviewed and adjusted, if appropriate, at each year-end date. An asset&amp;#x2019;s carrying amount is written down immediately to its recoverable amount if the asset&amp;#x2019;s carrying amount is greater than its estimated recoverable amount.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management&amp;#x2019;s re-estimation of assets useful lives, performed in accordance with IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,&lt;/div&gt; &amp;#x201c;Property, Plant and Equipment&amp;#x201d;, did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; materially affect depreciation expenses for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris depreciates each significant part of an item of property, plant and equipment for its different production facilities that (i) can be properly identified as an independent component with a cost that is significant in relation to the total cost of the item, and (ii) has a useful operating life that is different from another significant part of that same item of property, plant and equipment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Gains and losses on disposals are determined by comparing the proceeds with the carrying amount of assets and are recognized under &lt;div style="display: inline; font-style: italic;"&gt;Other operating income &lt;/div&gt;or &lt;div style="display: inline; font-style: italic;"&gt;Other operating expenses&lt;/div&gt; in the Consolidated Income Statement.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807132">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;P&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Provisions&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris is subject to various claims, lawsuits and other legal proceedings, including customer claims, in which a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt; party is seeking payment for alleged damages, reimbursement for losses or indemnity. Tenaris&amp;#x2019;s potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management periodically reviews the status of each significant matter and assesses potential financial exposure. If, as a result of past events, a potential loss from a claim or proceeding is considered probable and the amount can be reliably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements, and take into consideration Tenaris&amp;#x2019;s litigation and settlement strategies. These estimates are primarily constructed with the assistance of legal counsel. As the scope of liabilities become better defined, there &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be changes in the estimates of future costs which could have a material adverse effect on its results of operations, financial condition and cash flows.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If Tenaris expects to be reimbursed for an accrued expense, as would be the case for an expense or loss covered under an insurance contract, and reimbursement is considered virtually certain, the expected reimbursement is recognized as a receivable.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;This note should be read in conjunction with Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue contextRef="d_2019-01-01_2019-12-31" id="c59807136">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;R&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Revenue recognition&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Revenue comprises the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of Tenaris&amp;#x2019;s activities. The revenue recognized by the Company is measured at the transaction price of the consideration received or receivable to which the Company is entitled to, reduced by estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value to be realized and after eliminating sales within the group.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Revenue is recognized at a point in time or over time from sales when control has been transferred and there is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; unfulfilled performance obligation that could affect the acceptance of the product by the customer. The control is transferred upon delivery. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred and either the customer has accepted the product in accordance with the sales contract, the acceptance provisions have lapsed or the Company has objective evidence that all criteria for acceptance have been satisfied, including all performance obligations. These conditions are determined and analyzed on a contract by contract basis to ensure that all performance obligations are fulfilled; in particular, Tenaris verifies customer acceptance of the goods, the satisfaction of delivery terms and any other applicable condition.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal; color: black"&gt;For bill and hold transactions&lt;/div&gt; &lt;div style="display: inline; font-weight: normal"&gt;revenue is recognized only to the extent that (a) the reason for the bill and hold arrangement must be substantive (for example, the customer has requested the arrangement); (b) the products have been specifically identified and are ready for delivery; (c) the Company does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; have the ability to use the product or to direct it to another customer; (d) the usual payment terms apply.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company&amp;#x2019;s contracts with customers do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; provide any material variable consideration, other than discounts, rebates and right of return. Discounts and rebates are recognized based on the most likely value and rights of return are based on expected value considering past experience and contract conditions.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;Where the contracts include multiple performance obligations, the transaction price is allocated to each performance obligation based on the stand-alone selling prices. Where these are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; directly observable, they are estimated based on the expected cost plus margin.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; judgements applied by management that significantly affect the determination of timing of satisfaction of performance obligations, nor the transaction price and amounts allocated to different performance obligations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris provides services related to goods sold, which represent a non-material portion of sales revenue and include:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Pipe Management Services. &lt;/div&gt;This comprises mainly preparation of the pipes ready to be run, delivery to the customer, storage services and rig return.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Field Services. &lt;/div&gt;Comprises&amp;nbsp;field technical support and running assistance.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;These services are rendered in connection to the sales of goods and are attached to contracts with customers for the sale of goods. A significant portion of service revenue is recognized in the same period as the goods sold. There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; distinct uncertainties in the revenues and cash flows of the goods sold and services rendered as they are included in the same contract, have the same counterparty and are subject to the same conditions.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Revenue from providing services is recognized over time in the accounting period in which the services are rendered. The following inputs and outputs methods are applied to recognize revenue considering the nature of service:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Storage services&lt;/div&gt;, the Company provides storage services in owned or &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt;-party warehouses, subject to a variable fee to be invoiced. This fee is determined based on the time that the customer maintains the material in the warehouse and the amount of the material stored. In the majority of cases, to quantify the amount to be invoiced in any given month, the monthly average fee of storage per ton is multiplied by the monthly average stock stored (in tons).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Freights, &lt;/div&gt;the Company recognized the revenue on a pro rata bases considering the units delivered and time elapsed.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Field services&lt;/div&gt;, the revenue is recognized considering outputs method, in particular surveys of service completion provided by the customer.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 125 --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; year. As a consequence, considering that the contracts do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; include any significant financing component, the Company does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; adjust any of the transaction prices for the time value of money. For this reason, the Company is also applying the practical expedient &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; to disclose details on transaction prices allocated to the remaining performance obligations as of the end of the reporting period.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris only provides standard quality warranties assuring that the goods sold will function as expected or are fit for their intended purpose, with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; incremental service to the customer. Accordingly, warranties do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; constitute a separate performance obligation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Other revenues earned by Tenaris are recognized on the following basis:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Interest income: on the effective yield basis.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Dividend income from investments in other companies: when Tenaris&amp;#x2019;s right to receive payment is established.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Construction contracts revenues is recognized in accordance with the stage of the project completion.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue>
  <ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807106">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;C&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Segment information&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-indent: 0.5in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company is organized in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; major business segment, Tubes, which is also the reportable operating segment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Tubes segment includes the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. Business activities included in this segment are mainly dependent on the oil and gas industry worldwide, as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling activities. Demand for steel pipe products from the oil and gas industry has historically been volatile and depends primarily upon the number of oil and natural gas wells being drilled, completed and reworked, and the depth and drilling conditions of these wells. Sales are generally made to end users, with exports being done through a centrally managed global distribution network and domestic sales are made through local subsidiaries. Corporate general and administrative expenses have been allocated to the Tubes segment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Others includes all other business activities and operating segments that are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; required to be separately reported, including the production and selling of sucker rods, industrial equipment, coiled tubing, utility conduits for buildings, heat exchangers, energy and raw materials that exceed internal requirements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris&amp;#x2019;s Chief Operating Decision Maker (CEO) holds monthly meetings with senior management, in which operating and financial performance information is reviewed, including financial information that differs from IFRS principally as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;The use of direct cost methodology to calculate the inventories, while under IFRS it is at full cost, including absorption of production overheads and depreciations;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;The use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated at historical cost;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Other timing differences, if any.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris presents its geographical information in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;five&lt;/div&gt; areas: North America, South America, Europe, Middle East and Africa and Asia Pacific. For purposes of reporting geographical information, net sales are allocated to geographical areas based on the customer&amp;#x2019;s location; allocation of assets, capital expenditures and associated depreciations and amortizations are based on the geographical location of the assets.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807134">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Q &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Trade and other payables&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Trade and other payables are recognized initially at fair value, generally the nominal invoice amount and subsequently measured at amortized cost. They are presented as current liabilities unless payment is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; due within &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;twelve&lt;/div&gt; months after the reporting period. Due to the short-term nature their carrying amounts are considered to be the same as their fair value.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c59807120">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;J&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Trade and other receivables&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Trade and other receivables are recognized initially at fair value that corresponds to the amount of consideration that is unconditional unless they contain significant financing components. The Company holds trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. Due to the short-term nature, their carrying amount is considered to be the same as their fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris applies the IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt; &amp;#x201c;Financial Instruments&amp;#x201d; simplified approach to measure expected credit losses, which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The expected loss rates are based on the payment profiles of sales over a period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; years and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle the receivables.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents contextRef="d_2019-01-01_2019-12-31" id="c59807122">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;K&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Cash and cash equivalents&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cash and cash equivalents are comprised of cash at banks, liquidity funds and short-term investments with a maturity of less than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; months at the date of purchase which are readily convertible to known amounts of cash. Assets recorded in cash and cash equivalents are carried at fair market value or at historical cost which approximates fair market value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In the Consolidated Statement of Financial Position, bank overdrafts are included in &lt;div style="display: inline; font-style: italic;"&gt;Borrowings&lt;/div&gt; in current liabilities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For the purposes of the Consolidated Statement of Cash Flows, &lt;div style="display: inline; font-style: italic;"&gt;Cash and cash equivalents&lt;/div&gt; includes overdrafts.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents>
  <ifrs-full:DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse contextRef="i_2019-12-31_RangeAxis-BottomOfRangeMember" decimals="INF" id="c59807285" unitRef="xbrli-pure">0.082</ifrs-full:DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse>
  <ifrs-full:DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse contextRef="i_2019-12-31_RangeAxis-TopOfRangeMember" decimals="INF" id="c59807286" unitRef="xbrli-pure">0.159</ifrs-full:DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse>
  <ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares contextRef="d_2019-01-01_2019-12-31" decimals="INF" id="c59807384" unitRef="xbrli-shares">0</ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares>
  <ifrs-full:DisclosureOfAdditionalInformationExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523854">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 2.75pt"&gt;&lt;/td&gt; &lt;td style="width: 36pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fees paid to the Company's principal accountant&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Total fees accrued for professional services rendered by PwC Network firms to Tenaris S.A. and its subsidiaries are detailed as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Audit fees&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,846&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,841&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,995&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Audit-related fees&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;50&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;43&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax fees&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;All other fees&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,904&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,891&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfAdditionalInformationExplanatory>
  <ifrs-full:DisclosureOfBorrowingsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523799">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Borrowings&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Non-current&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Bank borrowings&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,896&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,214&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Costs of issue of debt&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,880&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,187&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bank borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,258&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;508,143&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bank overdrafts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,644&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Finance lease liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;44&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Costs of issue of debt&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,820&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total Borrowings&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The maturity of borrowings is as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;1 year or &lt;br /&gt; less&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;1 - 2 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2 &amp;#x2013; 3 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;3 - 4 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;4 - 5 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Over 5 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 30%; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other borrowings&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,307&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,573&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,307&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,573&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest to be accrued (*)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,370&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,045&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;117&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,532&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;792,642&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,352&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,690&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;834,684&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;1 year or &lt;br /&gt; less&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;1 - 2 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2 &amp;#x2013; 3 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;3 - 4 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;4 - 5 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Over 5 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 30%; font-size: 10pt; text-align: left"&gt;Financial lease&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;44&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;44&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,776&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,271&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,771&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,145&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;538,963&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,820&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,271&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,771&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,145&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest to be accrued (*)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,182&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,175&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,166&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;169&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,692&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;518,002&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,446&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,937&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,314&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;549,699&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; background-color: white"&gt;(*) Includes the effect of hedge accounting.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Significant borrowings include:&lt;/div&gt; &lt;div&gt; &lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: white"&gt; &lt;td style="white-space: nowrap; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;In million of USD&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: white"&gt; &lt;td style="white-space: nowrap; width: 26%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Disbursement date&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Borrower&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; width: 15%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Type&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Original &amp;amp; Outstanding&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Final maturity&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="white-space: nowrap"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2019&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Tamsa&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Bank loans&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;621&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="white-space: nowrap"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2019&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Siderca&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Bank loans&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;60&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="white-space: nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;Tenaris was in compliance with all of its covenants.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The weighted average interest rates before tax shown below were calculated using the rates set for each instrument in its corresponding currency as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; considering hedge accounting where applicable.&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Total borrowings&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.18&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.98&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Breakdown of long-term borrowings by currency and rate is as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Non-current borrowings&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Interest rates&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 37%; font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 36%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,370&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,762&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;SAR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,106&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,108&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,023&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,296&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,402&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total non-current borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,880&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,187&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 147 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Breakdown of short-term borrowings by currency and rate is as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Current borrowings&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Interest rates&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 37%; font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 36%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,092&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,847&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;274,799&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;138,303&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;198&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,772&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,178&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;MXN&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;424,964&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;301,047&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;ARS&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49,125&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;SAR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;35,666&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;SAR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,797&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;33&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total current borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,820&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Borrowings evolution&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Non current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Current&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,187&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,820&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(229&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;669&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Proceeds and repayments, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,582&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;203,931&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interests accrued less payments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;304&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,950&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,733&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,733&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to Business Combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27,933&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;53,789&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Overdrafts variation&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,620&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,880&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The carrying amounts of assets pledged as security for current and non-current borrowings are immaterial for the years &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfBorrowingsExplanatory>
  <ifrs-full:DisclosureOfBusinessCombinationsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523841">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 38.9pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Business combinations&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Acquisition of Saudi Steel Pipe Company&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect; &lt;/div&gt;Acquisition&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 21, 2019, &lt;/div&gt;Tenaris acquired &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47.79%&lt;/div&gt; of the shares of SSP, a welded steel pipes producer listed on the Saudi stock market, for a total amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;SAR530&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$141&lt;/div&gt; million). The amount was paid with Tenaris cash in hand. SSP&amp;#x2019;s facilities are located in the Eastern Province of the Kingdom of Saudi Arabia and have a manufacturing capacity of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;360,000&lt;/div&gt; tons per year. SSP started its operations in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1980&lt;/div&gt; and serves energy industrial and commercial segments, is qualified to supply products with major national oil companies in the region.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Upon closing of the acquisition, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;four&lt;/div&gt; Tenaris&amp;#x2019;s nominees were appointed as new members of the SSP&amp;#x2019;s board of directors and a Tenaris senior executive was appointed as managing director and chief executive officer of SSP. Such appointment was ratified at the shareholders meeting of SSP held on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 7, 2019, &lt;/div&gt;where the shareholders also approved the reappointment of the Tenaris&amp;#x2019;s nominees until &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 6, 2022.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company has begun consolidating SSP&amp;#x2019;s balances and results of operations as from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 21, 2019.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Fair value of net assets acquired&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The application of the purchase method requires certain estimates and assumptions specially concerning the determination of the fair values of the acquired intangible assets and property, plant and equipment as well as the liabilities assumed at the date of the acquisition. The fair values determined at the acquisition date are based mainly on discounted cash flows and other valuation techniques.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The allocation of the fair values determined for the assets and liabilities arising from the acquisition is as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Fair value of acquired assets and liabilities:&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;SAR million&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;$ million&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Property, Plant and Equipment&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;671&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;179&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Customer relationship&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;305&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investment in associated&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;77&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Working capital&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;167&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;45&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash and Cash Equivalents&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other Receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(304&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(81&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Employees end of service benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(59&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Deferred Tax Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(47&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(13&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt"&gt;Net assets acquired&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;853&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;228&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris acquired &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47.79%&lt;/div&gt; of total assets and liabilities shown above, approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$109&lt;/div&gt; million. As of the result of the acquisition, the Company recognized a Goodwill of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$32.9&lt;/div&gt; million. Tenaris has chosen to recognize the non-controlling interest at the proportionate share of the acquiree&amp;#x2019;s net identifiable assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The acquired business contributed revenues for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$170.6&lt;/div&gt; million with a minor contribution to Tenaris&amp;#x2019;s margin for the period starting &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 21, 2019 &lt;/div&gt;and ending &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If the acquisition had occurred on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019, &lt;/div&gt;consolidated revenue and profit after tax would have &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; changed significantly.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;The purchase price allocation has been done with the assistance of a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt; party expert.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Acquisition of Garrett&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; September 2017, &lt;/div&gt;Tenaris acquired &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt; of Garrett (a pipe services and trucking business) through the payment of a price of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$10.4&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;br /&gt; If the acquisition had occurred on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2017, &lt;/div&gt;Tenaris&amp;#x2019;s unaudited pro forma net sales and net income from continuing operations would &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; have changed materially.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfBusinessCombinationsExplanatory>
  <ifrs-full:DisclosureOfCashFlowStatementExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523843">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 38.75pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Cash flow disclosures&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 2.75pt; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="2" style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="2" style="text-align: left; font-size: 10pt"&gt;(i)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;Changes in working capital&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 3%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 56%; font-size: 10pt"&gt;Inventories&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;311,459&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(176,443&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(804,415&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivables and prepayments and Current tax assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(34,368&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,144&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,564&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(517,579&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(259,375&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(18,295&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(22,984&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,226&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Customer advances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,844&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,976&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,039&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(180,857&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(57,066&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;193,905&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;523,109&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(737,952&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(853,184&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(ii)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Income tax accruals less payments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax accrued&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,452&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229,207&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,136&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Taxes paid&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(395,869&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(170,713&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(176,853&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(193,417&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;58,494&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(193,989&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(iii)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest accruals less payments, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest accrued&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,616&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,914&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(20,534&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest received&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,890&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,613&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;50,001&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest paid&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(30,655&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(31,548&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,917&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,381&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,151&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,550&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(iv)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash at banks, liquidity funds and short - term investments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,554,299&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,361&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;330,221&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bank overdrafts&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(24&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,644&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(131&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,554,275&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;426,717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;330,090&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashFlowStatementExplanatory>
  <ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523839">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 2.75pt"&gt;&lt;/td&gt; &lt;td style="width: 36pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Contingencies, commitments and restrictions on the distribution of profits&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-align: justify; text-indent: -28.35pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(i)&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Contingencies &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris is from time to time subject to various claims, lawsuits and other legal proceedings, including customer, employee, tax and environmental-related claims, in which &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt; parties are seeking payment for alleged damages, reimbursement for losses, or indemnity. Management with the assistance of legal counsel periodically reviews the status of each significant matter and assesses potential financial exposure.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Some of these claims, lawsuits and other legal proceedings involve highly complex issues, and often these issues are subject to substantial uncertainties and, therefore, the probability of loss and an estimation of damages are difficult to ascertain. Accordingly, with respect to a large portion of such claims, lawsuits and other legal proceedings, Tenaris is unable to make a reliable estimate of the expected financial effect that will result from ultimate resolution of the proceeding. In those cases, Tenaris has &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; accrued a provision for the potential outcome of these cases.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If a potential loss from a claim, lawsuit or other proceeding is considered probable and the amount can be reasonably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements and take into consideration litigation and settlement strategies. In a limited number of ongoing cases, Tenaris was able to make a reliable estimate of the expected loss or range of probable loss and has accrued a provision for such loss but believes that publication of this information on a case-by-case basis would seriously prejudice Tenaris&amp;#x2019;s position in the ongoing legal proceedings or in any related settlement discussions. Accordingly, in these cases, the Company has disclosed information with respect to the nature of the contingency but has &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; disclosed its estimate of the range of potential loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company believes that the aggregate provisions recorded for potential losses in these Consolidated Financial Statements are adequate based upon currently available information. However, if management&amp;#x2019;s estimates prove incorrect, current reserves could be inadequate and Tenaris could incur a charge to earnings which could have a material adverse effect on Tenaris&amp;#x2019;s results of operations, financial condition, net worth and cash flows.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Below is a summary description of Tenaris&amp;#x2019;s material legal proceedings which are outstanding as of the date of these Consolidated Financial Statements. In addition, Tenaris is subject to other legal proceedings, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;none&lt;/div&gt; of which is believed to be material.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 16.8pt"&gt;&lt;/td&gt; &lt;td style="width: 14.7pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;CSN claims relating to the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2012 &lt;/div&gt;acquisition of Usiminas shares&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;Confab Industrial S.A. (&amp;#x201c;Confab&amp;#x201d;), a Brazilian subsidiary of the Company, is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; of the defendants in a lawsuit filed in Brazil by Companhia Sider&amp;uacute;rgica Nacional (&amp;#x201c;CSN&amp;#x201d;) and various entities affiliated with CSN against Confab and several Ternium subsidiaries that acquired a participation in Usiminas&amp;#x2019; control group in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2012.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;The CSN lawsuit alleges that, under applicable Brazilian laws and rules, the acquirers were required to launch a tag-along tender offer to all non-controlling holders of Usiminas&amp;#x2019; ordinary shares for a price per share equal to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;80%&lt;/div&gt; of the price per share paid in such acquisition, or &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL28.8,&lt;/div&gt; and seeks an order to compel the acquirers to launch an offer at that price plus interest. If so ordered, the offer would need to be made to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;182,609,851&lt;/div&gt; ordinary shares of Usiminas &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; belonging to Usiminas&amp;#x2019; control group, and Confab would have a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17.9%&lt;/div&gt; share in that offer.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 154 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 16.8pt"&gt;&lt;/td&gt; &lt;td style="width: 14.7pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;CSN claims relating to the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2012 &lt;/div&gt;acquisition of Usiminas shares (Cont.)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; September 23, 2013, &lt;/div&gt;the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;first&lt;/div&gt; instance court dismissed the CSN lawsuit, and on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 8, 2017, &lt;/div&gt;the court of appeals maintained the understanding of the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;first&lt;/div&gt; instance court. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 6, 2017, &lt;/div&gt;CSN filed a motion for clarification against the decision of the Court of Appeals of S&amp;atilde;o Paulo, which was rejected on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; July 19, 2017. &lt;/div&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; August 18, 2017, &lt;/div&gt;CSN filed an appeal to the Superior Court of Justice seeking the review and reversal of the decision issued by the Court of Appeals. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 5, 2018, &lt;/div&gt;the court of appeals ruled that CSN&amp;#x2019;s appeal did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; meet the requirements for submission to the Superior Court of Justice and rejected the appeal. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 8, 2018, &lt;/div&gt;CSN appealed against such ruling and on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 22, 2019, &lt;/div&gt;the court of appeals rejected it and ordered that the case be submitted to the Superior Court of Justice. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; September 10, 2019, &lt;/div&gt;the Superior Court of Justice declared CSN&amp;#x2019;s appeal admissible. The Superior Court of Justice will review the case and then render a decision on the merits. The Superior Court of Justice is restricted to the analysis of alleged violations to federal laws and cannot assess matters of fact.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 78.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;Tenaris continues to believe that all of CSN&amp;#x2019;s claims and allegations are groundless and without merit, as confirmed by several opinions of Brazilian legal counsel, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;two&lt;/div&gt; decisions issued by the Brazilian securities regulator (CVM) in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 2012 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 2016, &lt;/div&gt;and the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;first&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;second&lt;/div&gt; instance court decisions referred to above.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 21.55pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 16.8pt"&gt;&lt;/td&gt; &lt;td style="width: 14.7pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Veracel celulose accident litigation&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 21.55pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; September 21, 2007, &lt;/div&gt;an accident occurred in the premises of Veracel Celulose S.A. (&amp;#x201c;Veracel&amp;#x201d;) in connection with a rupture in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; of the tanks used in an evaporation system manufactured by Confab. The Veracel accident allegedly resulted in material damages to Veracel.&amp;nbsp;Ita&amp;uacute; Seguros S.A. (&amp;#x201c;Ita&amp;uacute;&amp;#x201d;), Veracel&amp;#x2019;s insurer at the time of the Veracel accident and then replaced by Chubb Seguros Brasil S/A (&amp;#x201c;Chubb&amp;#x201d;), initiated a lawsuit against Confab seeking reimbursement of damages paid to Veracel in connection with the Veracel accident. Veracel initiated a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;second&lt;/div&gt; lawsuit against Confab seeking reimbursement of the amount paid as insurance deductible with respect to the Veracel accident and other amounts &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; covered by insurance. Ita&amp;uacute; and Veracel claimed that the Veracel accident was caused by failures and defects attributable to the evaporation system manufactured by Confab. Confab believes that the Veracel accident was caused by the improper handling by Veracel&amp;#x2019;s personnel of the equipment supplied by Confab in violation of Confab&amp;#x2019;s instructions. The &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;two&lt;/div&gt; lawsuits were consolidated and are considered by the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6th&lt;/div&gt; Civil Court of S&amp;atilde;o Caetano do Sul; however, each lawsuit will be adjudicated separately.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; September 28, 2018 &lt;/div&gt;Confab and Chubb, entered into a settlement agreement pursuant to which on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; October 9, 2018, &lt;/div&gt;Confab paid an amount of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$3.5&lt;/div&gt; million to Chubb, without assuming any liability for the accident or the claim.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; October 10, 2018, &lt;/div&gt;Confab was notified that the court had issued rulings for both lawsuits. Both decisions were unfavorable to Confab:&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 27pt"&gt;&lt;/td&gt; &lt;td style="width: 18pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;With respect to Chubb&amp;#x2019;s claim, Confab was ordered to pay an amount of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL89.8&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$21.6&lt;/div&gt; million) (including interest, fees and expenses). On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; October 15, 2018, &lt;/div&gt;Confab filed a request for homologation of the settlement agreement mentioned above, as such settlement agreement remains valid and binding between the parties. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 8, 2018, &lt;/div&gt;the settlement agreement was homologated by the court.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 45.1pt; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 27pt"&gt;&lt;/td&gt; &lt;td style="width: 18pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;With respect to Veracel&amp;#x2019;s claim, Confab was ordered to pay the insurance deductible and other concepts &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; covered by insurance, currently estimated to amount to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL62.9&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$15.6&lt;/div&gt; million) (including interest, fees and expenses). Both parties filed motions for clarification against the court&amp;#x2019;s decision, which were partially granted. Although the contract between Confab and Veracel expressly provided that Confab would &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; be liable for damages arising from lost profits, the court award would appear to include &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL54.0&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$13.4&lt;/div&gt; million) of damages arising therefrom; Confab has additional defense arguments in respect of a claim for lost profits. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 18, 2018, &lt;/div&gt;Confab filed an appeal against the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;first&lt;/div&gt; instance court decision, and on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April 30, 2019, &lt;/div&gt;Veracel filed its response to the appeal. At this stage the Company cannot predict the outcome of the claim or the amount or range of loss in case of an unfavorable outcome.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 155 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;div style="display: inline; font-size: 10pt"&gt; &lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt;Ongoing investigation &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;The Company is aware that Brazilian, Italian and Swiss authorities have been investigating whether certain payments were made from accounts of entities presumably associated with affiliates of the Company to accounts allegedly linked to individuals related to Petr&amp;oacute;leo Brasileiro S.A. (&amp;#x201c;Petrobras&amp;#x201d;) and whether any such payments were intended to benefit the Company&amp;#x2019;s Brazilian subsidiary Confab. Any such payments could violate certain applicable laws, including the U.S. Foreign Corrupt Practices Act.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;The Company had previously reviewed certain of these matters in connection with an investigation by the Brazilian authorities related to &amp;#x201c;Operation Lava Jato&amp;#x201d;, a new phase of which is presently ongoing, and did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; uncover any information that corroborated allegations of involvement in these alleged payments by the Company or its subsidiaries. Furthermore, the Company became aware that a Petrobras internal investigation commission reviewed certain contracts with Confab and concluded that they had &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; found evidence that Petrobras had benefitted Confab or had misused applicable local content rules.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;The Audit Committee of the Company's Board of Directors engaged external counsel in connection with the Company&amp;#x2019;s review. In addition, the Company voluntarily notified the U.S. Securities and Exchange Commission and the U.S. Department of Justice in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; October 2016.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; July 2019, &lt;/div&gt;the Company learned that the public prosecutor office of Milan, Italy, had completed a preliminary investigation into the alleged payments and had included in the investigation, among other persons, the Company&amp;#x2019;s Chairman and Chief Executive Officer, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;two&lt;/div&gt; other board members, Gianfelice Rocca and Roberto Bonatti, and the Company&amp;#x2019;s controlling shareholder, San Faustin. In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 2020, &lt;/div&gt;the Company learned that the magistrate overseeing the investigation decided to move the case to trial. The Company&amp;#x2019;s outside counsel had previously reviewed the Italian prosecutors&amp;#x2019; investigative file and has informed the Board that neither that file nor this magistrate&amp;#x2019;s decision sets forth evidence of involvement by any of the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; directors in the alleged wrongdoing. Accordingly, the Board has concluded that &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; particular action is warranted at the present time, other than inviting the referred board members to continue discharging their respective responsibilities with the full support of the Board.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;The Company continues to review these matters and to respond to requests from and otherwise cooperate with the appropriate authorities. At this time, the Company cannot predict the outcome of these matters or estimate the range of potential loss or extent of risk, if any, to the Company's business that &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;result from resolution of these matters.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.3in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect; &lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt;Putative class actions&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;Following the Company&amp;#x2019;s &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 27, 2018 &lt;/div&gt;announcement that its Chairman and CEO Paolo Rocca had been included in an Argentine court investigation known as the Notebooks Case (a decision subsequently reversed by a higher court), &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;two&lt;/div&gt; putative class action complaints were filed in the U.S. District Court for the Eastern District of New York. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April 29, 2019, &lt;/div&gt;the court consolidated the complaints into a single case, captioned &amp;#x201c;In re Tenaris S.A. Securities Litigation&amp;#x201d;, and appointed lead plaintiffs and lead counsel. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; July 19, 2019, &lt;/div&gt;the lead plaintiffs filed an amended complaint purportedly on behalf of purchasers of Tenaris securities during the putative class period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 1, 2014 &lt;/div&gt;through &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 5, 2018. &lt;/div&gt;The individual defendants named in the complaint are Tenaris&amp;#x2019;s Chairman and CEO and Tenaris&amp;#x2019;s former CFO. The complaint alleges that during the class period, the Company and the individual defendants inflated the Tenaris share price by failing to disclose that sale proceeds received by Ternium (in which Tenaris held an &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.46%&lt;/div&gt; stake) when Sidor was expropriated by Venezuela were received or expedited as a result of allegedly improper payments made to Argentine officials. The complaint does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; specify the damages that plaintiff is seeking. Defendants&amp;#x2019; motions to dismiss are expected to be decided during &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020.&lt;/div&gt; Management believes the Company has meritorious defenses to these claims; however, at this stage the Company cannot predict the outcome of the claim or the amount or range of loss in case of an unfavorable outcome.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;div style="display: inline; font-size: 10pt"&gt; &lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt;Investigation concerning alleged price overcharges in Brazil&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;two&lt;/div&gt; Brazilian subsidiaries of the Company were notified of formal charges arising from a review by the Tribunal de Contas da Uniao (&amp;#x201c;TCU&amp;#x201d;) for alleged price overcharges on goods supplied to Petr&amp;oacute;leo Brasileiro S.A- Petrobras under a supply contract. Both companies have already filed their defenses. The estimated amount of this &lt;div style="display: inline; background-color: white"&gt;claim is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL29.8&lt;/div&gt; million&lt;/div&gt; (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$7.4&lt;/div&gt; million). Tenaris believes, based on the advice of counsel and external consultants, that the prices charged under the Petrobras contract do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; result in overprices and that it is unlikely that the ultimate resolution of this matter will result in a material obligation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 156 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect; &lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt;Administrative proceeding concerning Brazilian tax credits&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;Confab is a party to an administrative proceeding concerning the recognition and transfer of tax credits for an amount allegedly exceeding the amount that Confab would have been entitled to recognize and/or transfer. The proceeding resulted in the imposition of a fine against Confab representing approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;75%&lt;/div&gt; of the allegedly undue credits, which was appealed by Confab. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 21, 2019, &lt;/div&gt;Confab was notified of an administrative decision denying Confab&amp;#x2019;s appeal, thereby upholding the tax determination and the fine against Confab. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 28, 2019, &lt;/div&gt;Confab challenged such administrative decision and is currently awaiting a resolution. In case of an unfavorable resolution, Confab &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;still appeal before the courts. The estimated amount of this claim is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL56.8&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$14.1&lt;/div&gt;&amp;nbsp;million). At this stage, the Company cannot predict the outcome of this claim.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 40.5pt; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;div style="display: inline; font-size: 10pt"&gt; &lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt;U.S. Patent infringement litigation&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;Tenaris Coiled Tubes, LLC (&amp;#x201c;TCT&amp;#x201d;), a U.S. subsidiary of the Company, was sued on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; by its competitor Global Tubing, alleging violations to certain intellectual property regulations and seeking a declaration that certain Global Tubing products do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; infringe patents held by TCT. TCT filed a counterclaim seeking declaration that certain &lt;div style="display: inline; font-style: italic;"&gt;Global&lt;/div&gt; Tubing products infringe patents held by TCT, and Global Tubing responded alleging that such patents should be invalidated. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 13, 2019, &lt;/div&gt;Global Tubing filed an amended complaint (including the Company as defendant) and alleging that TCT and the Company misled the patent office in order to monopolize the coiled tubing market for quench and tempered products. Trial is set for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; August &lt;/div&gt;of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2021.&lt;/div&gt; At this time, the Company cannot predict the outcome of this matter or estimate the range of potential losses that &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;result from resolution of this claim.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect; &lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt;Tax assessment from Italian Tax Authorities&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;Tenaris&amp;#x2019;s Italian subsidiary Dalmine received on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 27, 2019, &lt;/div&gt;a tax assessment from the Italian tax authorities related to fiscal year &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2014.&lt;/div&gt; As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the claim amounted to approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;EUR25&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$28&lt;/div&gt; million), comprising &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;EUR20.7&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$23.2&lt;/div&gt; million) in principal and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;EUR4.3&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$4.8&lt;/div&gt; million) in interest and penalties. In the report for a tax audit conducted in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; the Italian tax inspectors indicated that they also intend to bring claims for fiscal year &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2015&lt;/div&gt; with respect to the same matters; as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;these additional claims would amount to approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;EUR10.3&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$11.6&lt;/div&gt; million), comprising &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;EUR8.1&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$9.1&lt;/div&gt; million) in principal and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;EUR2.2&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$2.5&lt;/div&gt; million) in interest and penalties. The claims mainly refer to the compensation for certain intercompany transactions involving Dalmine in connection with sales of products and R&amp;amp;D activities. Based on the counsel&amp;#x2019;s advice, Tenaris believes that it is unlikely that the ultimate resolution of these matters will result in a material obligation.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 40.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Commitments and guarantees&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Set forth is a description of Tenaris&amp;#x2019;s main outstanding commitments:&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.3in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;A Tenaris company entered into a contract with Transportadora de Gas del Norte S.A. for the service of natural gas transportation to the facilities of Siderca, an Argentine subsidiary of Tenaris. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the aggregate commitment to take or pay the committed volumes for a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt;-year term totaled approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$27.4&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Several Tenaris companies entered into a contract with Praxair S.A. for the service of oxygen and nitrogen supply. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the aggregate commitment to take or pay the committed volumes for a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14&lt;/div&gt;-year term totalled approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$53.7&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-indent: -13.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Several Tenaris companies entered into a contract with Graftech for the supply of graphite electrodes. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the aggregate commitment to take or pay the committed volumes totalled approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$26.8&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 157 --&gt;   &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;A Tenaris company entered into a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25&lt;/div&gt;-year contract (effective as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 1, 2016, &lt;/div&gt;through &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 1, 2041) &lt;/div&gt;with Techgen for the supply of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;197&lt;/div&gt; MW (which represents &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22%&lt;/div&gt; of Techgen&amp;#x2019;s capacity). Monthly payments are determined on the basis of capacity charges, operation costs, back-up power charges, and transmission charges. As of the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;seventh&lt;/div&gt; contract year (as long as Techgen&amp;#x2019;s existing or replacing bank facility has been repaid in full), the Tenaris company has the right to suspend or early terminate the contract if the rate payable under the agreement is higher than the rate charged by the Comisi&amp;oacute;n Federal de Electricidad (&amp;#x201c;CFE&amp;#x201d;) or its successors. The Tenaris company &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;instruct Techgen to sell to any affiliate, to CFE, or to any other &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt; party all or any part of unused contracted energy under the agreement and the Tenaris company will benefit from the proceeds of such sale.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;A Tenaris company entered into a contract with Vale International S.A. for the supply of iron ore, for which it is committed to purchase at least &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;70%&lt;/div&gt; of its annual iron ore needs, up to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;770&lt;/div&gt; thousand tons of pellets annually. The contract expires on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2020. &lt;/div&gt;The aggregate commitment amounts to approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$33.6&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;A Tenaris company entered into a contract with Canadian National Railway for the service of rail transportation from its raw material supplier to its Canadian production center.&amp;nbsp;The total commitment ending &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 30, 2020 &lt;/div&gt;is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$18.9&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;A Tenaris company entered into a contract with Air Liquide Mexico, S. de R.L de C.V. for the supply of argon gas. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the aggregate commitment totaled approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$21.2&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;A Tenaris company is a party to a contract with Nucor Steel Memphis Inc. under which it is committed to purchase on a monthly basis a minimum volume of steel bars at prices that will be adjusted quarterly by the parties. The contract will become effective in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2020 &lt;/div&gt;and will be in force until &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 2022. &lt;/div&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the estimated aggregate contract amount through &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2022, &lt;/div&gt;calculated at current prices, is approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$107.1&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Additionally Tenaris has issued performance guarantees mainly related to long term commercial contracts with several customers and parent companies guarantees for approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$2.5&lt;/div&gt; billion.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(iii)&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;div style="display: inline; color: black"&gt;Restrictions to the distribution of profits and payment of dividends&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In accordance with Luxembourg Law, the Company is required to transfer a minimum of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5%&lt;/div&gt; of its net profit for each financial year to a legal reserve until such reserve equals &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10%&lt;/div&gt; of the issued share capital.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;this reserve is fully allocated and additional allocations to the reserve are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; required under Luxembourg law. Dividends &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; be paid out of the legal reserve.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;pay dividends to the extent, among other conditions, that it has distributable retained earnings calculated in accordance with Luxembourg law and regulations.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfCostOfSalesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523754">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Cost of sales&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Inventories at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,524,341&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,368,304&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,563,889&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase in inventory due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,966&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Plus: Charges of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Raw materials, energy, consumables and other&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,709,629&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,400,396&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,794,503&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Services and fees&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;222,415&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;275,130&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;244,035&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Labor cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;870,261&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;855,040&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;778,408&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Depreciation of property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,791&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;432,497&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;383,490&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Amortization of intangible assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,948&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,220&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,621&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Depreciation of right-of-use assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,727&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Maintenance expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;284,758&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;185,782&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;183,370&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Allowance for obsolescence&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,138&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,457&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(12,917&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100,738&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;133,308&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,542&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115,663&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;119,507&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;88,823&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,849,034&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,435,337&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,496,875&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Less: Inventories at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,265,880&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,524,341&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,368,304&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,403&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,107,495&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,279,300&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,685,057&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCostOfSalesExplanatory>
  <ifrs-full:DisclosureOfDeferredTaxesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523808">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Deferred income tax&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 22.3pt; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Deferred income taxes are calculated in full on temporary differences under the liability method using the tax rate of each country.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The evolution of deferred tax assets and liabilities during the year are as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Deferred tax liabilities&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fixed assets (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Intangible and Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;710,995&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,048&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46,532&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;782,575&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(347&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(351&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,621&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,209&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;423&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;423&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement charge / (credit)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(64,930&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,652&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59,902&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,680&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;651,339&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,396&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118,062&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;788,797&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fixed assets (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Intangible and Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;744,926&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;34,934&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,585&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;835,445&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of adoption of new standards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(876&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;92&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(784&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;288&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;288&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement charge&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(33,055&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,886&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,468&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(52,409&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;710,995&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,048&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46,532&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;782,575&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(*) Includes the effect of currency translation on tax base. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 148 --&gt;   &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Deferred tax assets&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Provisions and&lt;br /&gt; allowances&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Tax losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16,116&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,585&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(396,257&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,184&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(585,142&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;362&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;306&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;497&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;286&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,160&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,413&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,172&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,238&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,983&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,261&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,261&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement charge / (credit)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,739&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,712&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,100&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(92,209&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,560&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(19,653&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(93,404&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(382,832&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(181,606&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(677,495&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Provisions and&lt;br /&gt; allowances&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Tax losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(26,475&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(89,555&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(354,944&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(60,033&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(531,007&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of adoption of new standards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;952&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(164&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;788&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,532&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,447&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,014&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(38&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,955&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,587&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,610&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement charge / (credit)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,852&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,523&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(42,327&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27,536&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(61,488&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16,116&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,585&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(396,257&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,184&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(585,142&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; the effect of the adoption of IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16&lt;/div&gt; has been recognized as &amp;#x201c;Other&amp;#x201d; both for deferred tax assets and liabilities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets related to taxable losses of Tenaris subsidiaries are recognized to the extent it is considered probable that future taxable profits will be available against which such losses can be utilized in the foreseeable future. This amount includes &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$338&lt;/div&gt; million related to US subsidiaries mainly due to the recognition of accelerated fiscal depreciations. The remaining balance mainly corresponds to Japanese and Brazilian subsidiaries. These subsidiaries have incurred in fiscal losses in the past. Tenaris has concluded that these deferred tax assets will be recoverable based on the business plans and budgets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The expiration dates of the recognized tax losses in less than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt; year, between &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt; years and in more than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt; years is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.2%,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2.5%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97.3%&lt;/div&gt; respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the net unrecognized deferred tax assets amount to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$121.2&lt;/div&gt; million. The expiration dates of the unrecognized tax losses less than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt; year, between &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt; years and more than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt; years is approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2.8%,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20.2%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;77%.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The estimated recovery analysis of deferred tax assets and deferred tax liabilities is as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Deferred tax assets to be recovered after 12 months&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(538,274&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(452,330&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred tax liabilities to be settled after 12 months&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;766,852&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;739,670&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred income tax assets and liabilities are offset when (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;) there is a legally enforceable right to set-off current tax assets against current tax liabilities and (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;) when the deferred income taxes relate to the same fiscal authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. The following amounts, determined after appropriate set-off, are shown in the Consolidated Statement of Financial Position:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Deferred tax assets&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(225,680&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(181,606&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Deferred tax liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;336,982&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;379,039&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;111,302&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;197,433&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The movement in the net deferred income tax liability account is as follows:&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;197,433&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;304,438&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of adoption of new standards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;823&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,100&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,171&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,847&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to Other Comprehensive Income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(838&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,898&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement credit&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(97,240&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(113,897&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;111,302&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;197,433&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDeferredTaxesExplanatory>
  <ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523835">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 2.75pt"&gt;&lt;/td&gt; &lt;td style="width: 36pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Derivative financial instruments &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"&gt;Net fair values of derivative financial instruments&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The net fair values of derivative financial instruments, in accordance with IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,&lt;/div&gt; are:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Derivatives hedging borrowings and investments&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,000&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,604&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other Derivatives&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;929&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,621&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Contracts with positive fair values (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,929&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,225&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Derivatives hedging borrowings and investments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,667&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other Derivatives&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(311&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Contracts with negative fair values&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,115&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,753&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white"&gt;(*) In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; includes &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$52&lt;/div&gt; thousand of non-current derivatives.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Foreign exchange derivative contracts and hedge accounting&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris applies hedge accounting to certain cash flow hedges of highly probable forecast transactions. The net fair values of exchange rate derivatives and those derivatives that were designated for hedge accounting as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; were as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Fair Value&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Hedge Accounting Reserve&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Purchase currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Sell currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Term&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 14%; font-size: 10pt"&gt;MXN&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USD&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,999&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;888&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;404&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(411&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;MXN&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(576&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;ARS&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,542&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(895&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;588&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;203&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;JPY&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2030&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,149&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(234&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(131&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;JPY&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(190&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;271&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;KWD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;103&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;522&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;390&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;CAD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(200&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,089&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;COP&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(345&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(30&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(30&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,115&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,753&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,591&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(916&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 153 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"&gt;&lt;div style="display: inline; font-style: normal"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"&gt;&lt;div style="display: inline; font-style: normal"&gt;Following is a summary of the hedge reserve evolution:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"&gt;&lt;div style="display: inline; font-style: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Equity Reserve &lt;br /&gt; Dec-17&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Movements &lt;br /&gt; 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Equity Reserve &lt;br /&gt; Dec-18&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Movements &lt;br /&gt; 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Equity Reserve&lt;br /&gt; Dec-19&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Foreign Exchange&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(240&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(676&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,507&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,591&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Total Cash flow Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(240&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(676&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(916&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,507&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,591&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"&gt;&lt;div style="display: inline; font-style: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris estimates that the cash flow hedge reserve corresponding to derivatives instruments at &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;will be recycled to the Consolidated Income Statement during &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020.&lt;/div&gt; For information on lease liabilities, see Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-35">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Non-current&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Bank borrowings&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,896&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,214&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Costs of issue of debt&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,880&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,187&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bank borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,258&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;508,143&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bank overdrafts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,644&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Finance lease liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;44&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Costs of issue of debt&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,820&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total Borrowings&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory contextRef="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" id="c-56">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Fair value of acquired assets and liabilities:&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;SAR million&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;$ million&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Property, Plant and Equipment&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;671&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;179&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Customer relationship&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;305&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investment in associated&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;77&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Working capital&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;167&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;45&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash and Cash Equivalents&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other Receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(304&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(81&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Employees end of service benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(59&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Deferred Tax Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(47&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(13&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt"&gt;Net assets acquired&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;853&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;228&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory contextRef="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-AcquisitionOfIPSCOMember" id="c-64">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-weight: bold"&gt;Fair value of acquired assets and liabilities:&lt;/td&gt; &lt;td style="font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-weight: bold; text-align: center"&gt;$ million&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 77%; text-align: left"&gt;Property, Plant and Equipment&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 20%; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;506&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left"&gt;Intangible assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;170&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left"&gt;Working capital&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left"&gt;Cash and Cash Equivalents&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left"&gt;Other assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;Borrowings&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(53&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;Provisions&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left"&gt;Other liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(77&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left; padding-bottom: 1pt"&gt;Deferred tax liabilities&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Net assets acquired&lt;/td&gt; &lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;710&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutHedgedItemsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-54">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Fair Value&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Hedge Accounting Reserve&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Purchase currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Sell currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Term&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 14%; font-size: 10pt"&gt;MXN&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USD&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,999&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;888&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;404&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(411&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;MXN&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(576&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;ARS&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,542&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(895&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;588&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;203&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;JPY&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2030&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,149&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(234&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(131&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;JPY&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(190&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;271&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;KWD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;103&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;522&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;390&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;CAD&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(200&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,089&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;COP&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(345&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(30&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(30&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,115&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,753&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,591&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(916&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutHedgedItemsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-19">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Land and &lt;br /&gt; civil &lt;br /&gt; buildings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Industrial &lt;br /&gt; buildings, &lt;br /&gt; plant and &lt;br /&gt; production &lt;br /&gt; equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Vehicles, &lt;br /&gt; furniture &lt;br /&gt; and &lt;br /&gt; fixtures&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Work in &lt;br /&gt; progress&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Spare &lt;br /&gt; parts and &lt;br /&gt; equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 22%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;732,578&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,121,569&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;377,260&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;127,378&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,197&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,421,982&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,611&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(38,961&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,615&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(864&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(256&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(43,307&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations (*)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59,468&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115,908&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,733&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,630&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;178,739&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,178&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,107&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;299,412&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,202&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;313,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27,153&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,110&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,120&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,557&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(38,975&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,723&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;296,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,349&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(317,128&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,984&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,232&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;799,139&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,468,813&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;399,724&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;108,308&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;60,602&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,836,586&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;110,914&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,936,900&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;310,260&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,358,074&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(420&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(24,973&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,485&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(26,878&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,409&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;415,826&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,080&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;447,315&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(362&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(38&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(73&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(25,580&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,889&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(31,542&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;121,468&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,302,135&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;322,966&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,746,569&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;677,671&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,166,678&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;76,758&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;108,308&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;60,602&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,090,017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Land and&lt;br /&gt; civil &lt;br /&gt; buildings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Industrial &lt;br /&gt; buildings, &lt;br /&gt; plant and &lt;br /&gt; production &lt;br /&gt; equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Vehicles, &lt;br /&gt; furniture &lt;br /&gt; and &lt;br /&gt; fixtures&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Work in &lt;br /&gt; progress&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Spare &lt;br /&gt; parts and &lt;br /&gt; equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 22%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;712,061&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,954,585&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;370,542&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;167,079&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42,413&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,246,680&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,628&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(117,977&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,458&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,269&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(424&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(131,756&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;723&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;681&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,245&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;294,163&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,756&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;317,568&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(221&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(21,836&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,269&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(42&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,541&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(35,909&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,643&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;306,116&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,200&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(331,553&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,993&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,399&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;732,578&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,121,569&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;377,260&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;127,378&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,197&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,421,982&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;101,197&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,612,871&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;303,469&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,017,537&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,383&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(72,141&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,939&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(78,463&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,153&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;417,229&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,083&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;449,465&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(671&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(498&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(53&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(21,232&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(8,682&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(29,967&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;110,914&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,936,900&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;310,260&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,358,074&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;621,664&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,184,669&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;67,000&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;127,378&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,197&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,063,908&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-60">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,899&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,496&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;Net income&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,848&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt; text-align: left"&gt;Cash at the beginning&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,820&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Cash at the end&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;206&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;(Decrease) Increase in cash&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(18,614&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;(Used in) provided by operating activities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,046&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Provided by (used in) investing activities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Used in financing activities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(15,600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;At January 19, 2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt; text-align: left"&gt;Non-current assets&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;87,332&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current assets&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;69,332&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total assets of disposal group classified as held for sale&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;156,664&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,294&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,556&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total liabilities of disposal group classified as held for sale&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,850&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory>
  <ifrs-full:DisclosureOfDividendsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523768">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Dividends distribution&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; October 30, 2019, &lt;/div&gt;the Company&amp;#x2019;s Board of Directors approved the payment of an interim dividend of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.13&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.26&lt;/div&gt; per ADS), or approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$153&lt;/div&gt; million, paid on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 20, 2019, &lt;/div&gt;with an ex-dividend date of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 18, 2019.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 6, 2019, &lt;/div&gt;the Company&amp;#x2019;s Shareholders approved an annual dividend in the amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.41&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.82&lt;/div&gt; per ADS). The amount approved included the interim dividend previously paid on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 21, 2018 &lt;/div&gt;in the amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.13&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.26&lt;/div&gt; per ADS). The balance, amounting to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.28&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.56&lt;/div&gt; per ADS), was paid on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 22, 2019. &lt;/div&gt;In the aggregate, the interim dividend paid in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 2018 &lt;/div&gt;and the balance paid in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 2019 &lt;/div&gt;amounted to approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$484&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 2, 2018, &lt;/div&gt;the Company&amp;#x2019;s Shareholders approved an annual dividend in the amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.41&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.82&lt;/div&gt; per ADS). The amount approved included the interim dividend previously paid on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 22, 2017 &lt;/div&gt;in the amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.13&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.26&lt;/div&gt; per ADS). The balance, amounting to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.28&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.56&lt;/div&gt; per ADS), was paid on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 23, 2018. &lt;/div&gt;In the aggregate, the interim dividend paid in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 2017 &lt;/div&gt;and the balance paid in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 2018 &lt;/div&gt;amounted to approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$484&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 3, 2017, &lt;/div&gt;the Company&amp;#x2019;s Shareholders approved an annual dividend in the amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.41&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.82&lt;/div&gt; per ADS). The amount approved included the interim dividend previously paid on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 23, 2016 &lt;/div&gt;in the amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.13&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.26&lt;/div&gt; per ADS). The balance, amounting to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.28&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.56&lt;/div&gt; per ADS), was paid on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 24, 2017. &lt;/div&gt;In the aggregate, the interim dividend paid in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 2016 &lt;/div&gt;and the balance paid in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 2017 &lt;/div&gt;amounted to approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$484&lt;/div&gt; million.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDividendsExplanatory>
  <ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-4">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;All amounts Long / (Short) in thousands of U.S. dollars&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;As of December 31,&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;Currency Exposure / Functional currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left"&gt;Argentine Peso / U.S. Dollar&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(95,811&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(186,867&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Euro / U.S. Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(103,518&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(175,419&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Saudi Arabian Riyal / U. S. Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(107,582&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory>
  <ifrs-full:DisclosureOfEmployeeBenefitsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523758">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Labor costs (included in Cost of sales and in Selling, general and administrative expenses)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Wages, salaries and social security costs&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,274,474&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,250,783&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,144,341&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Severance indemnities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,225&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;34,497&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Defined contribution plans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,663&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,217&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,401&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Pension benefits - defined benefit plans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,207&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,390&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,066&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Employee retention and long term incentive program&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22,134&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,353&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,441&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,352,115&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,325,968&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,221,746&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(853&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,352,115&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,325,968&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,220,893&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The following table shows the geographical distribution of the employees:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center; border-top: Black 1pt solid"&gt;Country&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt"&gt;Argentina&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,405&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,427&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,221&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Mexico&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,370&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,595&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,139&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,255&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,382&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,953&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Italy&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,144&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,155&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,088&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Romania&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,815&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,852&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,870&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Brazil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,360&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,287&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,382&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Colombia&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,040&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,082&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,003&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Canada&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;772&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,030&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;919&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Indonesia&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;616&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;554&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;506&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Japan&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;399&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;410&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,023&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,204&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,114&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,200&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22,967&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,605&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEmployeeBenefitsExplanatory>
  <ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523748">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Segment information&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As mentioned in section II. AP &amp;#x2013; C, the Segment Information is disclosed as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Reportable operating segments &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(All amounts in millions of U.S. dollars)&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Tubes&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Other&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Continuing operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Discontinued operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - Net Sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,870&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;424&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,294&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Management view - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;857&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;73&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;929&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Difference in cost of sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(105&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(102&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in selling, general and administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Differences in other operating income (expenses), net&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;755&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;77&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;832&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial income (expense), net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Income before equity in earnings of non-consolidated companies and income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;852&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Equity in earnings of non-consolidated companies&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;934&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;338&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;350&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;523&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;540&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Tubes&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Other&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Continuing operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Discontinued operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - Net Sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,233&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;426&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,659&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Management view - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;702&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;783&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Difference in cost of sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;112&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;119&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(34&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(34&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Differences in selling, general and administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;777&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;95&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;872&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial income (expense), net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;37&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Income before equity in earnings of non-consolidated companies and income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;909&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Equity in earnings of non-consolidated companies&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,103&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;346&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;349&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;645&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;664&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2017&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Tubes&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Other&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Continuing operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Discontinued operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - Net Sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,966&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;323&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,289&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Management view - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;163&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Difference in cost of sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;164&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;165&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in selling, general and administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Differences in other operating income (expenses), net&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;292&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;43&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;335&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial income (expense), net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Income before equity in earnings of non-consolidated companies and income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;312&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Equity in earnings of non-consolidated companies&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;116&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;550&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;558&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;594&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;609&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Transactions between segments, which were eliminated in consolidation, are mainly related to sales of scrap, energy, surplus raw materials and others from the Other segment to the Tubes segment for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$36,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$52&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$53&lt;/div&gt; million in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017,&lt;/div&gt; respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; material differences between total reportable segments&amp;#x2019; revenues and the entity&amp;#x2019;s revenue under IFRS.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The main differences between operating income under IFRS view and the management view are mainly related to the cost of goods sold and other timing differences. See Section II. A. C. Segment Information.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In addition to the amounts reconciled above, the main differences in net income arise from the impact of functional currencies on financial result, deferred income taxes as well as the result of investment in non-consolidated companies and changes on the valuation of inventories according to cost estimation internally defined.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 135 --&gt;   &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Geographical information&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;North America&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;South America&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Europe&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Middle East &amp;amp; Africa&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Asia Pacific&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Unallocated (*)&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total continuing operations&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total discontinued operations&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 44%; font-size: 10pt; text-align: justify"&gt;Net sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,429,911&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,391,288&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;738,880&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,382,172&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;351,804&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,294,055&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,885,120&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,227,044&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,282,775&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;958,424&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;609,663&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;879,965&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,842,991&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;612,809&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;176,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;149,321&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;319,406&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;90,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,771,570&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,129,260&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;816,721&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;254,858&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;117,608&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,090,017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;169,390&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,999&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,169&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,578&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,038&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;350,174&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;276,046&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;105,308&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82,400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42,520&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;33,247&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,521&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Net sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,611,509&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,462,044&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;724,733&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,559,988&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,314&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,658,588&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,971,311&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,489,522&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,913,589&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;588,746&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;482,563&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;805,568&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,251,299&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;791,190&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;280,801&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;215,202&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;383,358&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;66,815&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,859,060&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,133,113&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;848,178&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;94,040&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;129,517&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,063,908&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;196,220&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;68,603&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;77,467&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,047&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,136&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;349,473&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;441,705&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;108,558&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82,769&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,389&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,936&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;664,357&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Net sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,451,357&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,142,142&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;545,777&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;937,439&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;211,789&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,288,504&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,899&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,925,520&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,975,599&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,002,658&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;391,029&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;441,546&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;661,866&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,398,218&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;582,204&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;234,877&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;214,944&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;135,524&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46,511&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,214,060&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,914,229&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,190,145&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;878,788&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;102,481&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;143,500&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,229,143&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;430,142&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;58,949&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;57,285&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,562&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,153&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;558,091&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;145&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;354,091&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;126,273&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93,900&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,094&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22,282&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;608,640&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(*) For &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; includes Investments in non-consolidated companies, for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; includes Investments in non-consolidated companies and Other equity investments for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$21.6&lt;/div&gt; million. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;33.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; revenues from external customers attributable to the Company&amp;#x2019;s country of incorporation (Luxembourg). For geographical information purposes, &amp;#x201c;North America&amp;#x201d; comprises Canada, Mexico and the USA (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31%&lt;/div&gt;); &amp;#x201c;South America&amp;#x201d; comprises principally Argentina (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12%&lt;/div&gt;), Brazil and Colombia; &amp;#x201c;Europe&amp;#x201d; comprises principally Italy, Romania and United Kingdom; &amp;#x201c;Middle East and Africa&amp;#x201d; comprises principally Egypt, Kazakhstan, Nigeria, India and Saudi Arabia and; &amp;#x201c;Asia Pacific&amp;#x201d; comprises principally China, Japan, Indonesia and Thailand.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Revenue is mainly recognized at a point in time to direct customers, when control has been transferred and there is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; unfulfilled performance obligation that could affect the acceptance of the product by the customer. Tenaris&amp;#x2019;s revenues related to governmental institutions represents approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21%,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17%&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tubes segment revenues by market:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;Revenues Tubes&amp;nbsp;&amp;nbsp;(in million US dollar)&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Oil and Gas&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,757&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,042&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,034&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Hydrocarbon Processing and Power Generation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;534&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;602&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;484&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Industrial and Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;579&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;589&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;448&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,870&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,233&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,966&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 2019, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017,&lt;/div&gt; the Company recognized contract liabilities related to customer advances in the amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$82.7,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$62.7&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$56.7&lt;/div&gt; million, respectively. These amounts related to years &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; were reclassified to revenues during the subsequent year. In these periods, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; significant adjustment in revenues were performed related to performance obligations previously satisfied.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory>
  <ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523860">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 2.75pt"&gt;&lt;/td&gt; &lt;td style="width: 36pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;35&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Subsequent events&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Acquisition of IPSCO Tubulars, Inc.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Acquisition&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2, 2020, &lt;/div&gt;Tenaris acquired &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt; of the shares of IPSCO Tubulars, Inc. (&amp;#x201c;IPSCO&amp;#x201d;), a U.S. manufacturer of steel pipes, from PAO TMK (&amp;#x201c;TMK&amp;#x201d;). The acquisition price was determined on a cash-free, debt-free basis, and the amount paid in cash at the closing, following contractual adjustments for cash, indebtedness, working capital and certain other items as estimated by the seller as of the closing date, was &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1,067&lt;/div&gt; million. The final acquisition price is subject to a contractual true-up adjustment based on actual amounts of cash, indebtedness, working capital and certain other items as of the closing date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;IPSCO&amp;#x2019;s facilities are located mainly in the midwestern and northeastern regions of the country. IPSCO&amp;#x2019;s steel shop in Koppel, Pennsylvania, is Tenaris&amp;#x2019;s &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;first&lt;/div&gt; in the United States, providing vertical integration through domestic production of a relevant part of its steel bar needs. Its Ambridge, Pennsylvania, mill adds a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;second&lt;/div&gt; seamless manufacturing facility and complements Tenaris&amp;#x2019;s seamless plant in Bay City, Texas.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In connection with the closing of the transaction, the parties entered into a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;-year master distribution agreement (the &amp;#x201c;MDA&amp;#x201d;) whereby, beginning on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2, 2020, &lt;/div&gt;Tenaris will be the exclusive distributor of TMK&amp;#x2019;s OCTG and line pipe products in United States and Canada. At the end of the MDA&amp;#x2019;s &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;-years term, TMK will have the option to extend the duration of its term for an additional &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; months. Under the MDA, Tenaris is required to purchase specified minimum volumes of TMK-manufactured OCTG and line pipe products.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company will begin consolidating IPSCO&amp;#x2019;s balances and results of operations as from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2, 2020. &lt;/div&gt;The Company has retained a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt; party expert to estimate the purchase price allocation. As of the date of publication of these Consolidated Financial Statements, the purchase price allocation is still in progress.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The short period of time between the acquisition date and the date of approval of these Consolidated Financial Statements, as well as the considerable size and complexity of the acquired business, makes it impracticable for the Company to provide all disclosures required by IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt; applicable to a business combination that occurred subsequent to year end.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Following the preparation of the initial purchase price allocation, the Company will continue its review and will make any necessary adjustments during the following &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; months, in accordance with IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory>
  <ifrs-full:DisclosureOfFairValueMeasurementOfAssetsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-7">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Assets / Liabilities&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,985&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;26,409&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Addition / (Decrease)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,933&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;26,768&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Currency translation adjustment and others&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(337&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(192&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: left"&gt;At the end of the year&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,581&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,985&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFairValueMeasurementOfAssetsExplanatory>
  <ifrs-full:DisclosureOfFairValueOfPlanAssetsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-47">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(132,438&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(145,692&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,137&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,514&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Return on plan assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,018&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,936&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Remeasurements&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,507&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,967&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions paid to the plan&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,589&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,108&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Benefits paid from the plan&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,259&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,453&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;270&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;364&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(145,160&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(132,438&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Equity instruments&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;53.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debt instruments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFairValueOfPlanAssetsExplanatory>
  <ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523763">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Financial results &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-left: 10pt; width: 55%; font-size: 10pt; text-align: justify"&gt;Interest Income&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,061&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42,244&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51,525&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;Net result on changes in FV of financial assets at FVPL&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(64&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,388&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,920&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Finance income (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47,997&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;39,856&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47,605&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Finance cost&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(43,381&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(36,942&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27,072&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-left: 10pt; font-size: 10pt; text-align: justify"&gt;Net foreign exchange transactions results (**)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27,868&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,845&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(48,955&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-left: 10pt; font-size: 10pt; text-align: justify"&gt;Foreign exchange derivatives contracts results (***)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,616&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,576&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(8,996&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,585&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,035&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,392&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Other financial results&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,667&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;34,386&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(43,559&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Net financial results&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,283&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;37,300&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(23,026&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,283&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;37,300&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(23,017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(*) Finance Income: &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; includes &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$7.6&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$3.6&lt;/div&gt; million of interest related to instruments carried at FVPL, respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(**) &lt;div style="display: inline; font-style: italic;"&gt;Net foreign exchange transactions results:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; mainly includes the result from the Argentine peso depreciation against the U.S. dollar on Peso denominated financial, trade, social and fiscal payables and receivables at Argentine subsidiaries with functional currency U.S. dollar.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; mainly includes the result from the Argentine peso depreciation against the U.S. dollar on Peso denominated financial, trade, social and fiscal payables and receivables at Argentine subsidiaries with functional currency U.S. dollar, together with the positive impact from Euro depreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. Dollar, largely offset by an increase in currency translation adjustment reserve from our Italian subsidiary.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; mainly includes the negative impact from Euro appreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. Dollar, largely offset by an increase in currency translation adjustment reserve from our Italian subsidiary.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(***) &lt;div style="display: inline; font-style: italic;"&gt;Foreign exchange derivatives contracts results:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; includes mainly losses on derivatives covering net payables in Argentine peso and in Euros and net receivables in Canadian dollar.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; includes mainly gain on derivatives covering net receivables in Canadian dollar.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; includes mainly losses on derivatives covering net receivables in Brazilian real and Canadian dollar and net payables in Argentine peso, partially offset by gains on derivatives covering net payables in Euro.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory>
  <ifrs-full:DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-5">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="15" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;As of December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amount in thousands of U.S. dollars&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amount in thousands of U.S. dollars&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 40%; font-size: 10pt; text-align: left"&gt;Fixed rate (*)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;768,002&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;520,471&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Variable rate&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,150&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,536&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory>
  <ifrs-full:DisclosureOfFinancialInstrumentsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523742">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"&gt;iii. Financial risk management&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The multinational nature of Tenaris&amp;#x2019;s operations and customer base exposes the Company to a variety of risks, mainly related to market risks (including the effects of changes in foreign currency exchange rates and interest rates), credit risk and capital market risk. In order to manage the volatility related to these exposures, management evaluates exposures on a consolidated basis, taking advantage of exposure netting. The Company or its subsidiaries &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;then enter into various derivative transactions in order to prevent potential adverse impacts on Tenaris&amp;#x2019;s financial performance. Such derivative transactions are executed in accordance with internal policies and hedging practices.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;A. Financial Risk Factors&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(i)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Capital Risk Management&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris seeks to maintain a low debt to total equity ratio considering the industry and the markets where it operates. The year-end ratio of debt to total equity (where &amp;#x201c;debt&amp;#x201d; comprises financial borrowings and &amp;#x201c;total equity&amp;#x201d; is the sum of financial borrowings and equity) is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.06&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.04&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2018. &lt;/div&gt;The Company does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; have to comply with regulatory capital adequacy requirements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(ii)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Foreign exchange risk&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris manufactures and sells its products in a number of countries throughout the world and consequently is exposed to foreign exchange rate risk. Since the Company&amp;#x2019;s functional currency is the U.S. dollar the purpose of Tenaris&amp;#x2019;s foreign currency hedging program is mainly to reduce the risk caused by changes in the exchange rates of other currencies against the U.S. dollar.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris&amp;#x2019;s exposure to currency fluctuations is reviewed on a periodic consolidated basis. A number of derivative transactions are performed in order to achieve an efficient coverage in the absence of operative or natural hedges. Almost all of these transactions are forward exchange rates contracts. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt;&amp;nbsp;enter into derivative financial instruments for trading or other speculative purposes, other than non-material investments in structured products.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In the case of subsidiaries with functional currencies other than the U.S. dollar, the results of hedging activities, reported in accordance with IFRS, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; reflect entirely the management&amp;#x2019;s assessment of its foreign exchange risk hedging program. Intercompany balances between Tenaris&amp;#x2019;s subsidiaries &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;generate financial gains (losses) to the extent that functional currencies differ.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The value of Tenaris&amp;#x2019;s financial assets and liabilities is subject to changes arising from the variation of foreign currency exchange rates. The following table provides a breakdown of Tenaris&amp;#x2019;s main financial assets and liabilities (including foreign exchange derivative contracts) which impact the Company&amp;#x2019;s profit and loss as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;All amounts Long / (Short) in thousands of U.S. dollars&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;As of December 31,&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;Currency Exposure / Functional currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left"&gt;Argentine Peso / U.S. Dollar&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(95,811&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(186,867&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Euro / U.S. Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(103,518&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(175,419&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Saudi Arabian Riyal / U. S. Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(107,582&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The main relevant exposures correspond to:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Argentine Peso / U.S. dollar&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; consisting primarily of Argentine Peso-denominated financial, trade, social and fiscal payables at certain Argentine subsidiaries whose functional currency is the U.S. dollar. A change of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; in the ARS/USD exchange rate would have generated a pre-tax gain / loss of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.0&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.9&lt;/div&gt; million as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 129 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(ii)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Foreign exchange risk (Cont.)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Euro / U.S. dollar&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; consisting primarily of Euro-denominated intercompany liabilities at certain subsidiaries whose functional currency is the U.S. dollar. A change of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; in the EUR/USD exchange rate would have generated a pre-tax gain / loss of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.0&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.3&lt;/div&gt; million as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; respectively, which would have been to a large extent offset by changes in currency translation adjustment included in Tenaris&amp;#x2019;s net equity position.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Saudi Arabian Riyal / U. S. Dollar&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;consisting primarily of Saudi Arabian Riyal-denominated financial and trade payables. The Saudi Arabian Riyal is tied to the dollar.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Considering the balances held as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;on financial assets and liabilities exposed to foreign exchange rate fluctuations, Tenaris estimates that the impact of a simultaneous &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; appreciation / depreciation movement in the levels of foreign currencies exchange rates relative to the U.S. dollar, would be a pre-tax gain / loss of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$4.6&lt;/div&gt; million (including a loss / gain of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$4.9&lt;/div&gt; million due to foreign exchange derivative contracts), which would be partially offset by changes to Tenaris&amp;#x2019;s net equity position of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.6&lt;/div&gt; million. For balances held as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2018, &lt;/div&gt;a simultaneous &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; favorable / unfavorable movement in the foreign currencies exchange rates relative to the U.S. dollar, would have generated a pre-tax gain / loss of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$3.6&lt;/div&gt; million (including a loss / gain of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$2.3&lt;/div&gt; million due to foreign exchange derivative contracts), which would have been partially offset by changes to Tenaris&amp;#x2019;s net equity position of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.9&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company entered into foreign exchange derivative contracts to mitigate the exposure to fluctuations in exchange rates.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(iii)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Interest rate risk&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris is subject to interest rate risk on its investment portfolio and its debt. The Company uses a mix of variable and fixed rate debt in combination with its investment portfolio strategy. The Company &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;choose to enter into foreign exchange derivative contracts and / or interest rate swaps to mitigate the exposure to changes in the interest rates.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The following table summarizes the proportions of variable-rate and fixed-rate debt as of each year end.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="15" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;As of December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amount in thousands of U.S. dollars&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amount in thousands of U.S. dollars&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 40%; font-size: 10pt; text-align: left"&gt;Fixed rate (*)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;768,002&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;520,471&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Variable rate&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,150&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,536&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(*) Out of the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$768&lt;/div&gt; million fixed rate borrowings, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$728&lt;/div&gt; million are short-term.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company estimates that, if market interest rates applicable to Tenaris&amp;#x2019;s borrowings had been &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100&lt;/div&gt; basis points higher, then the additional pre-tax loss would have been &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$7.7&lt;/div&gt; million in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$8.2&lt;/div&gt; million in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(iv)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Credit risk&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Credit risk arises from cash and cash equivalents, deposits with banks and financial institutions, as well as credit exposures to customers, including outstanding receivables and committed transactions. The Company also actively monitors the creditworthiness of its treasury, derivative and insurance counterparties in order to minimize its credit risk.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; significant concentration of credit risk from customers. &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;No&lt;/div&gt; &lt;/div&gt;&lt;/div&gt;single customer comprised more than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10%&lt;/div&gt; of Tenaris&amp;#x2019;s net sales in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris&amp;#x2019;s credit policies related to sales of products and services are designed to identify customers with acceptable credit history and to allow Tenaris to require the use of credit insurance, letters of credit and other instruments designed to minimize credit risks &lt;div style="display: inline; color: black"&gt;whenever deemed necessary. Tenaris maintains allowances for impairment for potential credit losses.&lt;/div&gt; See Section II J.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 130 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; trade receivables amount to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1,348.2&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1,737.4&lt;/div&gt; million respectively. Trade receivables have guarantees under credit insurance of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$178.7&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$181.7&lt;/div&gt; million, letter of credit and other bank guarantees of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$55.2&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$62.3&lt;/div&gt; million, and other guarantees of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.6&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$42.2&lt;/div&gt; million as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; overdue trade receivables amounted to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$242.7&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$368.4&lt;/div&gt; million, respectively. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; overdue guaranteed trade receivables amounted to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$28.7&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$31.5&lt;/div&gt; million; and the allowance for doubtful accounts amounted to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$48.8&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$66.5&lt;/div&gt; million respectively. Both the allowance for doubtful accounts and the existing guarantees are sufficient to cover doubtful trade receivables.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(v)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Counterparty risk&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris has investment guidelines with specific parameters to limit issuer risk on marketable securities. Counterparties for derivatives and cash transactions are limited to high credit quality financial institutions, normally investment grade.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;Approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;96%&lt;/div&gt; of Tenaris&amp;#x2019;s liquid financial assets correspond to Investment Grade-rated instruments as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;in comparison with approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;83%&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2018.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(vi)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Liquidity risk&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris financing strategy aims to maintain adequate financial resources and access to additional liquidity. During &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; Tenaris has counted on cash flows from operations as well as additional bank financing to fund its transactions.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management maintains sufficient cash and marketable securities to finance normal operations and believes that Tenaris also has appropriate access to market for short-term working capital needs.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Liquid financial assets as a whole (comprising cash and cash equivalents and other investments) were &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12%&lt;/div&gt; of total assets at the end of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; compared to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7%&lt;/div&gt; at the end of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris has a conservative approach to the management of its liquidity, which consists of i)&amp;nbsp;cash and cash equivalents (cash in banks, liquidity funds and investments&amp;nbsp;with a&amp;nbsp;maturity of less than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; months&amp;nbsp;at the date of purchase), and ii) Other Investments (fixed income securities, time deposits, and fund investments).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris holds primarily investments in money market funds and variable or fixed-rate securities from investment grade issuers. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; Tenaris does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; have direct exposure to financial instruments issued by European sovereign counterparties.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris holds its investments primarily in U.S. dollars. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; U.S. dollar denominated liquid assets represented approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;95%&lt;/div&gt;&lt;/div&gt; of total liquid financial assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(vii)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Commodity price risk&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;In the ordinary course of its operations, Tenaris purchases commodities and raw materials that are subject to price volatility caused by supply conditions, political and economic variables and other factors. As a consequence, Tenaris is exposed to risk resulting from fluctuations in the prices of these commodities and raw materials. Tenaris fixes the prices of such raw materials and commodities for short-term periods, typically &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; in excess of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; year, in general Tenaris does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; hedge this risk. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 131 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;B. Category of financial instruments and classification within the fair value hierarchy&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As mentioned in note II.A, the Company classifies its financial instruments in the following measurement categories: amortized cost, fair value through other comprehensive income and fair value through profit and loss.For financial instruments that are measured in the statement of financial position at fair value, IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,&lt;/div&gt; &amp;#x201c;Fair value measurement&amp;#x201d; requires a disclosure of fair value measurements by level according to the following fair value measurement hierarchy:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Level &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt; - Quoted prices (unadjusted) in active markets for identical assets or liabilities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Level &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt; - Inputs other than quoted prices included within Level &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt; that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Level &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt; - Inputs for the asset or liability that are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; based on observable market data (that is, unobservable inputs).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The following tables present the financial instruments by category and levels as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Measurement Categories&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;At Fair Value&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;December 31, 2019&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Carrying &lt;br /&gt;amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized Cost&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;FVOCI&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;FVPL&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,554,299&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;387,602&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,166,697&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,166,697&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Other investments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;210,376&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;65,874&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,502&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;134,990&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,512&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Fixed income (time-deposit, zero coupon bonds, commercial papers)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;65,874&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;65,874&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Certificates of deposits&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Commercial papers&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,993&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,993&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other notes&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,244&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,244&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Bonds and other fixed income&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,502&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,502&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;134,990&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,512&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;U.S. government securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,211&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,211&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,211&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non - U.S. government securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,125&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,512&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Corporates securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;105,654&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;105,654&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;105,654&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,929&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,929&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,929&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Other Investments Non-current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,934&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bonds and other fixed income&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other investments&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Receivables C and NC (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;261,678&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93,239&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;141,898&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93,239&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Other receivables (non-financial)&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;119,780&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,894,875&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;211,173&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,193,548&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,319,699&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,441&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,581&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Borrowings C and NC&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;555,887&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;555,887&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Finance Lease Liabilities C and NC&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;230,167&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;230,167&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,608,206&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(*) Includes balances related to interest in our Venezuelan companies. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;33.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 132 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Measurement Categories&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;At Fair Value&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;December 31, 2018&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Carrying amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized Cost&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;FVOCI&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;FVPL&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,361&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;268,163&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,198&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,198&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Other investments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;487,734&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,410&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;166,094&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,230&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;168,165&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Fixed income (time-deposit, zero coupon bonds, commercial papers)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Certificates of deposits&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;198,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;198,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Commercial papers&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,932&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,932&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other notes&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;91,566&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;91,566&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Bonds and other fixed income&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;187,324&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;166,094&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,230&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;168,165&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;U.S. government securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,077&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,077&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,077&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non - U.S. government securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Corporates securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;142,176&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;140,105&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,071&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;142,176&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Structured notes&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Other Investments Non-current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118,155&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bonds and other fixed income&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other investments&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Receivables C and NC (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;307,790&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;139,474&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,711&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;188,185&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;139,474&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,711&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Other receivables (non-financial)&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;119,605&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,445,413&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;328,635&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194,927&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;442,193&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,384&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,985&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Borrowings C and NC&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;693,673&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;693,673&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,232,680&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(*) Includes balances related to interest in our Venezuelan companies. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;33.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;There were &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; &lt;/div&gt;transfers between levels during the year.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm&amp;#x2019;s length basis. The quoted market price used for financial assets held by Tenaris is the current bid price. These instruments are included in Level &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt; and comprise primarily corporate and sovereign debt securities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair value of financial instruments that are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; traded in an active market (such as certain debt securities, certificates of deposits with original maturity of more than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; months, forward and interest rate derivative instruments) is determined by using valuation techniques which maximize the use of observable market data when available and rely as little as possible on entity specific estimates. If all significant inputs required to value an instrument are observable, the instrument is included in Level &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2.&lt;/div&gt; Tenaris values its assets and liabilities included in this level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied volatilities obtained from market contributors as of the valuation date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; or more of the significant inputs are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; based on observable market data, the instruments are included in Level &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.&lt;/div&gt; Tenaris values its assets and liabilities in this level using observable market inputs and management assumptions which reflect the Company&amp;#x2019;s best estimate on how market participants would price the asset or liability at measurement date. Main balances included in this level correspond to the Company interest in Venezuelan companies. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;33.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 133 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The following table presents the changes in Level &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt; assets and liabilities:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Assets / Liabilities&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,985&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;26,409&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Addition / (Decrease)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,933&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;26,768&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Currency translation adjustment and others&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(337&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(192&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: left"&gt;At the end of the year&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,581&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,985&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;C. Fair value estimation &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial assets or liabilities classified at fair value through profit or loss are measured under the framework established by the IASB accounting guidance for fair value measurements and disclosures.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair values of quoted investments are generally based on current bid prices. If the market for a financial asset is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; active or &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; market is available, fair values are established using standard valuation techniques.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair value of all outstanding derivatives is determined using specific pricing models that include inputs that are observable in the market or can be derived from or corroborated by observable data. The fair value of forward foreign exchange contracts is calculated as the net present value of the estimated future cash flows in each currency, based on observable yield curves, converted into U.S. dollars at the spot rate of the valuation date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Borrowings are comprised primarily of fixed rate debt and variable rate debt with a short term portion where interest has already been fixed. They are classified under other financial liabilities and measured at their amortized cost. Tenaris estimates that the fair value of its main financial liabilities is approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100.0%&lt;/div&gt; of its carrying amount including interests accrued in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; as compared with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;99.3%&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018.&lt;/div&gt; Fair values were calculated using standard valuation techniques for floating rate instruments and comparable market rates for discounting flows.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The carrying amount of investments valuated at amortized cost approximates its fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;D. Accounting for derivative financial instruments and hedging activities&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Derivative financial instruments are initially recognized in the statement of financial position at fair value through profit and loss on each date a derivative contract is entered into and are subsequently remeasured at fair value. Specific tools are used for calculation of each instrument&amp;#x2019;s fair value and these tools are tested for consistency on a monthly basis. Market rates are used for all pricing operations. These include exchange rates, deposit rates and other discount rates matching the nature of each underlying risk.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As a general rule, Tenaris recognizes the full amount related to the change in fair value of derivative financial instruments in &lt;div style="display: inline; font-style: italic;"&gt;Financial Results&lt;/div&gt; in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris designates certain derivatives and non derivative financial liabilities (leasing liabilities denominated in Japanese Yen) as hedges of particular risks associated with recognized assets or liabilities or highly probable forecast transactions. These transactions are classified as cash flow hedges. The effective portion of the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in equity. Similarly the effective portion of the foreign exchange result on the designated leasing liability is recognized in equity Amounts accumulated in equity are then recognized in the income statement in the same period as the offsetting losses and gains on the hedged item. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. The fair value of Tenaris&amp;#x2019;s derivative financial instruments (assets or liabilities) continues to be reflected in the statement of financial position. The lease liability will be recognized on the balance sheet at each period end at the exchange rate as of the end of each month. The full fair value of a hedging derivative and the leasing liability is classified as a current or non-current asset or liability according to its expiry date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For transactions designated and qualifying for hedge accounting, Tenaris documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. Tenaris also documents its assessment on an ongoing basis, of whether the hedging instrument are highly effective in offsetting changes in the fair value or cash flow of hedged items. At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; the effective portion of designated cash flow hedges which is included in &lt;div style="display: inline; font-style: italic;"&gt;Other Reserves&lt;/div&gt; in equity amounts to &lt;div style="display: inline; background-color: white"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$2.6&lt;/div&gt;&lt;/div&gt; million credit and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.9&lt;/div&gt; million debit respectively. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair values of various derivative instruments used for hedging purposes and the movements of the hedging reserve included within &lt;div style="display: inline; font-style: italic;"&gt;Other Reserves&lt;/div&gt; in equity are disclosed in Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsExplanatory>
  <ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523756">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Selling, general and administrative expenses&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 22.3pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: justify"&gt;Services and fees&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;153,773&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;128,090&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;132,301&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Labor cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;481,854&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;470,928&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;443,338&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Depreciation of property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,524&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,968&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,979&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Amortization of intangible assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;41,967&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;206,672&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;188,550&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Depreciation of right-of-use assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,564&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Commissions, freight and other selling expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;441,442&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;491,555&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;339,759&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Provisions for contingencies&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,565&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,498&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,664&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16,256&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,751&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,421&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;110,876&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;71,110&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;56,826&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89,665&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;99,404&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81,061&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,365,974&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,509,976&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,272,057&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,041&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,365,974&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,509,976&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,270,016&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory>
  <ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523738">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; text-transform: uppercase"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;I. GENERAL INFORMATION&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris S.A. (the &amp;#x201c;Company&amp;#x201d;) was established as a public limited liability company (&lt;div style="display: inline; font-style: italic;"&gt;societ&amp;eacute; anonyme&lt;/div&gt;) under the laws of the Grand-Duchy of Luxembourg on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 17, 2001. &lt;/div&gt;The Company holds, either directly or indirectly, controlling interests in various subsidiaries in the steel pipe manufacturing and distribution businesses. References in these Consolidated Financial Statements to &amp;#x201c;Tenaris&amp;#x201d; refer to the Company and its consolidated subsidiaries. A list of the principal Company&amp;#x2019;s subsidiaries is included in Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32&lt;/div&gt; to these Consolidated Financial Statements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company&amp;#x2019;s shares trade on the Italian Stock Exchange and the Mexican Stock Exchange; the Company&amp;#x2019;s American Depositary Securities (&amp;#x201c;ADS&amp;#x201d;) trade on the New York Stock Exchange.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;These Consolidated Financial Statements were approved for issuance by the Company&amp;#x2019;s Board of Directors on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 19, 2020.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory>
  <ifrs-full:DisclosureOfGeographicalAreasExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-9">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;North America&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;South America&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Europe&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Middle East &amp;amp; Africa&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Asia Pacific&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Unallocated (*)&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total continuing operations&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total discontinued operations&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 44%; font-size: 10pt; text-align: justify"&gt;Net sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,429,911&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,391,288&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;738,880&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,382,172&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;351,804&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,294,055&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 4%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,885,120&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,227,044&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,282,775&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;958,424&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;609,663&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;879,965&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,842,991&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;612,809&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;176,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;149,321&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;319,406&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;90,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,771,570&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,129,260&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;816,721&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;254,858&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;117,608&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,090,017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;169,390&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,999&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,169&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,578&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,038&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;350,174&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;276,046&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;105,308&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82,400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42,520&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;33,247&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,521&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Net sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,611,509&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,462,044&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;724,733&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,559,988&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,314&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,658,588&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,971,311&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,489,522&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,913,589&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;588,746&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;482,563&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;805,568&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,251,299&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;791,190&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;280,801&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;215,202&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;383,358&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;66,815&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,859,060&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,133,113&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;848,178&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;94,040&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;129,517&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,063,908&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;196,220&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;68,603&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;77,467&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,047&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,136&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;349,473&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;441,705&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;108,558&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82,769&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,389&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,936&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;664,357&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Net sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,451,357&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,142,142&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;545,777&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;937,439&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;211,789&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,288,504&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,899&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,925,520&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,975,599&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,002,658&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;391,029&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;441,546&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;661,866&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,398,218&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;582,204&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;234,877&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;214,944&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;135,524&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46,511&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,214,060&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,914,229&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,190,145&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;878,788&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;102,481&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;143,500&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,229,143&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;430,142&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;58,949&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;57,285&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,562&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,153&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;558,091&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;145&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;354,091&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;126,273&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93,900&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,094&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22,282&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;608,640&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfGeographicalAreasExplanatory>
  <ifrs-full:DisclosureOfIncomeTaxExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523765">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Income tax&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Current tax&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;299,692&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;343,104&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;184,016&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Deferred tax&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(97,240&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(113,897&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(100,432&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,452&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229,207&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;83,584&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(100,720&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,452&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229,207&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The tax on Tenaris&amp;#x2019;s income before tax differs from the theoretical amount that would arise using the tax rate in each country as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; width: 55%; font-size: 10pt; text-align: left"&gt;Income before income tax&lt;/td&gt; &lt;td style="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;933,710&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,103,107&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;427,711&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax calculated at the tax rate in each country&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;186,752&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;207,422&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,456&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of currency translation on tax base&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;53,296&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;77,552&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Changes in the tax rates&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(13&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,824&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(62,968&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Utilization of previously unrecognized tax losses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(547&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Tax revaluation, withholding tax and others&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(37,036&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(57,591&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,298&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"&gt;Tax charge&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,452&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229,207&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Effect of currency translation on tax base,&lt;/div&gt; Tenaris applies the liability method to recognize deferred income tax on temporary differences between the tax bases of assets/liabilities and their carrying amounts in the financial statements. By application of this method, Tenaris recognizes gains and losses on deferred income tax due to the effect of the change in the value on the tax basis in subsidiaries (mainly Argentina and Mexico), which have a functional currency different than their local currency. These gains and losses are required by IFRS even though the revalued / devalued tax bases of the relevant assets will &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; result in any deduction / obligation for tax purposes in future periods.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Tax revaluation, withholding tax and others, &lt;/div&gt;mainly includes a net tax income of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$66&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$65&lt;/div&gt; million for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; respectively related to the tax revaluation regime in Argentina and Mexico; it also includes a charge of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$34&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$26&lt;/div&gt; million for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; respectively related to withholding taxes for intra group international operations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Changes in the tax rates&lt;/div&gt;, in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; it includes mainly the effect of the changes in tax rate in Argentine and US subsidiaries for approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$46&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$15&lt;/div&gt; million respectively.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIncomeTaxExplanatory>
  <ifrs-full:DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-21">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="5" style="font-size: 10pt"&gt;(All amounts in million US dollar)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;As of December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Tubes Segment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Other Segment&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid"&gt;CGU&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Maverick&lt;br /&gt; Acquisition&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Hydril &lt;br /&gt; Acquisition&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Maverick &lt;br /&gt; Acquisition&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;OCTG (USA)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;225&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;225&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tamsa (Hydril and other)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;346&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;365&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Siderca (Hydril and other)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;265&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;358&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Hydril&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;309&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;309&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Confab&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Coiled Tubing&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;225&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;920&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;171&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,320&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory>
  <ifrs-full:DisclosureOfIntangibleAssetsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523772">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Intangible assets, net&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Information &lt;br /&gt; system projects&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Licenses,&lt;br /&gt; patents and&lt;br /&gt; trademarks (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Goodwill&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Customer&lt;br /&gt; relationships&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;580,622&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;464,571&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,085,936&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,058,859&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,189,988&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,917&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(70&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(968&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,955&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations (**)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;405&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32,869&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81,192&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;114,466&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;35,487&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;772&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,259&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,665&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,665&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,062&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,531&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,593&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;604,870&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;463,742&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,117,837&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,140,051&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,326,500&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;513,984&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;373,466&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;797,592&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,038,981&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,724,023&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,734&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,734&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Amortization charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,937&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;719&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,259&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,850&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(413&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,263&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;536,337&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;373,772&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;797,592&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,057,240&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,764,941&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;68,533&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89,970&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,320,245&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82,811&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,561,559&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Information &lt;br /&gt; system projects&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Licenses,&lt;br /&gt; patents and&lt;br /&gt; trademarks (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Goodwill&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Customer&lt;br /&gt; relationships&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;560,692&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;465,963&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,090,073&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,058,859&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,175,587&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,153&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(183&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,137&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,473&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,632&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;273&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,905&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,493&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,493&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(56&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,482&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,538&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;580,622&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;464,571&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,085,936&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,058,859&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,189,988&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;478,946&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;372,746&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;797,592&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,865,444&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,514,728&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,551&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,551&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Amortization charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,635&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;720&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;173,537&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;214,892&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(46&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(46&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;513,984&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;373,466&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;797,592&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,038,981&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,724,023&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;66,638&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;91,105&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,288,344&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,878&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,465,965&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(*) Includes Proprietary Technology.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(**) Related to SSP acquisition.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The geographical allocation of goodwill for the year ended &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;was &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1,168.4&lt;/div&gt; million for North America, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$116.2&lt;/div&gt; million for South America, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.9&lt;/div&gt; million for Europe and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$33.7&lt;/div&gt; million for Middle East &amp;amp; Africa.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The carrying amount of goodwill allocated by CGU, as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;was as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="5" style="font-size: 10pt"&gt;(All amounts in million US dollar)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;As of December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Tubes Segment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Other Segment&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid"&gt;CGU&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Maverick&lt;br /&gt; Acquisition&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Hydril &lt;br /&gt; Acquisition&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Maverick &lt;br /&gt; Acquisition&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;OCTG (USA)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;225&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;225&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tamsa (Hydril and other)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;346&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;365&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Siderca (Hydril and other)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;265&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;358&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Hydril&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;309&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;309&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Confab&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Coiled Tubing&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;225&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;920&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;171&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,320&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsExplanatory>
  <ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523779">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Investments in non-consolidated companies&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;805,568&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;640,294&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,781&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,848&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Equity in earnings of non-consolidated companies&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82,036&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;193,994&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,635&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dividends and distributions received (*)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(28,037&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(26,581&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,610&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Decrease / increase in equity reserves and others&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,066&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,987&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;879,965&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;805,568&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(*) Related to Ternium and Usiminas. During &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$29.0&lt;/div&gt; million were collected.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 4.3pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The principal non-consolidated companies are:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;% ownership at December 31,&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Value at December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Company&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Country of incorporation&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 20%; font-size: 10pt; text-align: left"&gt;a) Ternium (*)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 25%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Luxembourg&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.46&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.46&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;751,105&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;725,548&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;b) Usiminas (**)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Brazil&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.07&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.07&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;74,593&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;72,988&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-left: 10pt; font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,267&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,032&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;879,965&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;805,568&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(*) Including treasury shares.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(**) At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; the voting rights were &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5.2%.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;a) Ternium&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ternium, is a steel producer with production facilities in Mexico, Argentina, Brazil, Colombia, United States and Guatemala and is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; of Tenaris&amp;#x2019;s main suppliers of round steel bars and flat steel products for its pipes business.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the closing price of Ternium&amp;#x2019;s ADSs as quoted on the New York Stock Exchange was &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$22&lt;/div&gt; per ADS, giving Tenaris&amp;#x2019;s ownership stake a market value of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$505.4&lt;/div&gt; million. At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the carrying value of Tenaris&amp;#x2019;s ownership stake in Ternium, based on Ternium&amp;#x2019;s IFRS Financial Statements, was approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$751.1&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019&amp;nbsp;&lt;/div&gt;the Company concluded that&amp;nbsp;the carrying amount does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; exceed the recoverable value of the investment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Summarized selected financial information of Ternium, including the aggregated amounts of assets, liabilities, revenues and profit or loss is as follows:&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Ternium&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Non-current assets&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,757,320&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,121,824&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current assets&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,178,213&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,426,038&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,935,533&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,547,862&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,452,535&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,236,756&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,768,125&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,826,530&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,220,660&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,063,286&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Non-controlling interests&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,103,208&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,091,321&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,192,818&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,454,807&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,740,378&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,971,479&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net income for the year attributable to owners of the parent&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;564,269&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,506,647&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total comprehensive income for the year, net of tax, attributable to owners of the parent&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;445,473&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,176,964&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 143 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;b) Usiminas&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Usiminas is a Brazilian producer of high quality flat steel products used in the energy, automotive and other industries.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the closing price of the Usiminas&amp;#x2019; ordinary and preferred shares, as quoted on the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;B3&lt;/div&gt; - Brasil Bolsa Balc&amp;atilde;o S.A, was &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL9.83&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$2.44&lt;/div&gt;) and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL9.51&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$2.36&lt;/div&gt;), respectively, giving Tenaris&amp;#x2019;s ownership stake a market value of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$92&lt;/div&gt; million. As of that date, the carrying value of Tenaris&amp;#x2019;s ownership stake in Usiminas was approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$74.6&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Summarized selected financial information of Usiminas, including the aggregated amounts of assets, liabilities, revenues and profit or loss is as follows:&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Usiminas&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Non-current assets&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,335,662&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,696,896&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current assets&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,198,449&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,148,322&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,534,111&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,845,218&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,955,395&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,933,207&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;716,930&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;860,862&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,672,325&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,794,069&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Non-controlling interests&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;377,667&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;369,333&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,790,206&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,766,241&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;478,141&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;612,156&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net income for the year attributable to owners of the parent&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,779&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194,381&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-indent: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;c) Techgen&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-indent: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Techgen is a Mexican company that operates a natural gas-fired combined cycle electric power plant in the Pesquer&amp;iacute;a area of the State of Nuevo Le&amp;oacute;n, Mexico. The company started producing energy on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 1, 2016, &lt;/div&gt;with a power capacity of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;900&lt;/div&gt; megawatts. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;Tenaris held &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22%&lt;/div&gt; of Techgen&amp;#x2019;s share capital, and its affiliates, Ternium and Tecpetrol International S.A. (a wholly-owned subsidiary of San Faustin S.A., the controlling shareholder of both Tenaris and Ternium), held &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30%&lt;/div&gt; respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Techgen is a party to transportation capacity agreements for a purchasing capacity of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;150,000&lt;/div&gt; MMBtu/Gas per day starting on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; August 1, 2016 &lt;/div&gt;and ending on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; July 31, 2036, &lt;/div&gt;and a party to a contract for the purchase of power generation equipment and other services related to the equipment. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;Tenaris&amp;#x2019;s exposure under these agreements amounted to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$51.9&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.9&lt;/div&gt; million respectively. Furthermore, during &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; Techgen entered a contract for the purchase of clean energy certificates. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;Tenaris&amp;#x2019;s exposure under this agreement amounted to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$18.2&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;During &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; Techgen repaid certain subordinated loans to Techgen&amp;#x2019;s sponsors; the part corresponding to Tenaris amounted to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$40.5&lt;/div&gt; million. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;the aggregate outstanding principal amount under these subordinated loans was &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$58.1&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 13, 2019, &lt;/div&gt;Techgen entered into a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$640&lt;/div&gt; million syndicated loan agreement with several banks to refinance an existing loan, resulting in the release of certain corporate guarantee issued by Techgen&amp;#x2019;s shareholders to secure the replaced facility.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Techgen&amp;#x2019;s obligations under the current facility, which is &amp;#x201c;non-recourse&amp;#x201d; on the sponsors, are guaranteed by a Mexican security trust covering Techgen&amp;#x2019;s shares, assets and accounts as well as Techgen&amp;#x2019;s affiliates rights under certain contracts. In addition, Techgen&amp;#x2019;s collection and payment accounts &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; subject to the trust have been pledged in favor of the lenders under the new loan agreement, and certain direct agreements &amp;#x2013;customary for these type of transactions&amp;#x2013; have been entered into with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt; parties and affiliates, including in connection with the agreements for the sale of energy produced by the project and the agreements for the provision of gas and long-term maintenance services to Techgen. The commercial terms and conditions governing the purchase, by the Company&amp;#x2019;s Mexican subsidiary Tamsa, of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22%&lt;/div&gt; of the energy generated by the project remain unchanged.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Under the loan agreement, Techgen is committed to maintain a debt service reserve account covering debt service becoming due during &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;two&lt;/div&gt; consecutive quarters; such account is funded by stand-by letters of credit issued for the account of Techgen&amp;#x2019;s sponsors in proportion to their respective participations in Techgen. Accordingly, the Company and its Swiss subsidiary, Tenaris Investments Switzerland AG, applied for stand-by letters of credit covering &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22%&lt;/div&gt; of the debt service coverage ratio, which as of the date hereof amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$9.8&lt;/div&gt; million.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory>
  <ifrs-full:DisclosureOfInterestsInSubsidiariesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523856">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 2.75pt"&gt;&lt;/td&gt; &lt;td style="width: 36pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Principal subsidiaries&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The following is a list of Tenaris&amp;#x2019;s principal subsidiaries and its direct and indirect percentage of ownership of each controlled company at &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: black 1pt solid; border-right: black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Country of&lt;br /&gt; Incorporation&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: black 1pt solid; border-right: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Main activity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Percentage of ownership at&lt;br /&gt; December 31, (*)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: bottom; width: 41%; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 27%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2019&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 6%; border-right: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2018&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 8%; border-right: black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ALGOMA TUBES INC.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Canada&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;CONFAB INDUSTRIAL S.A. and subsidiaries&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Brazil&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded steel pipes and capital goods&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;DALMINE S.p.A.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Italy&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;HYDRIL COMPANY and subsidiaries (except detailed) (a)&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacture and marketing of premium connections&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;KAZAKHSTAN PIPE THREADERS LIMITED LIABILITY PARTNERSHIP&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Kazakhstan&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Threading of premium products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;MAVERICK TUBE CORPORATION and subsidiaries&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded steel pipes &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;NKKTUBES&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Japan&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;P.T. SEAMLESS PIPE INDONESIA JAYA&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Indonesia&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;PRUDENTIAL STEEL LTD.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Canada&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded steel pipes &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;S.C. SILCOTUB S.A.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Romania&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;SAUDI STEEL PIPE CO.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Saudi Arabia&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded steel pipes &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;NA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;NA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;SIAT SOCIEDAD ANONIMA&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Argentina&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded and seamless steel pipes &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL and subsidiaries&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Argentina&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TALTA - TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Portugal&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding Company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS BAY CITY, INC.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS CONNECTIONS BV&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Netherlands&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Development, management and licensing of intellectual property&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS FINANCIAL SERVICES S.A.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Uruguay&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Financial company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS GLOBAL SERVICES (CANADA) INC.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Canada&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Marketing of steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Marketing of steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS GLOBAL SERVICES (UK) LTD&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;United Kingdom&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company and marketing of steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS GLOBAL SERVICES S.A. and subsidiaries (except detailed) (b)&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Uruguay&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company and marketing of steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS INVESTMENTS (NL) B.V.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Netherlands&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;NA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;NA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS INVESTMENTS S.&amp;agrave;r.l.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Luxembourg&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Switzerland&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS TUBOCARIBE LTDA.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Colombia&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded and seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TUBOS DE ACERO DE MEXICO, S.A.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Mexico&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(*) All percentages rounded.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(a) Tenaris Investments S.&amp;agrave;.r.l. holds &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt; of Hydril's subsidiaries shares except for Technical Drilling &amp;amp; Production Services Nigeria. Ltd where it holds &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;80%.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(b) Tenaris Investments S.&amp;agrave;.r.l holds &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97,5%&lt;/div&gt; of Tenaris Supply Chain S.A. and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40%&lt;/div&gt; of Tubular Technical Services Ltd. and Pipe Coaters Nigeria Ltd., &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49%&lt;/div&gt; of Amaja Tubular Services Limited, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49%&lt;/div&gt; Tubular Services Angola Lda.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInterestsInSubsidiariesExplanatory>
  <ifrs-full:DisclosureOfInventoriesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523786">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Inventories, net&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Finished goods&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;968,329&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,025,999&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Goods in process&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;612,888&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;709,497&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Raw materials&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;221,954&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;256,816&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Supplies&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;486,411&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;504,286&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Goods in transit&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194,015&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;237,539&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,483,597&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,734,137&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Allowance for obsolescence (see Note 23 (i))&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(217,717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(209,796&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,265,880&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,524,341&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInventoriesExplanatory>
  <ifrs-full:DisclosureOfJointVenturesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523840">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 38.9pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;26&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Agreement to build a welded pipe plant in West Siberia&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 20.75pt; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 5, 2019 &lt;/div&gt;Tenaris entered into an agreement with PAO Severstal to build a welded pipe plant to produce OCTG products in the Surgut area, West Siberia, Russian Federation. Tenaris holds a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49%&lt;/div&gt; interest in the company, while PAO Severstal owns the remaining &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51%.&lt;/div&gt; The regulatory approvals and other customary conditions have been already obtained. The plant, which is estimated to require an investment of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$280&lt;/div&gt; million, is planned to have an annual production capacity of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,000&lt;/div&gt; tons. During the period, Tenaris contributed approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$19.6&lt;/div&gt; million in the project.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfJointVenturesExplanatory>
  <ifrs-full:DisclosureOfLeasesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523776">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Right-of-use assets, net and lease liabilities&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Right of use assets evolution&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Land and Civil&lt;br /&gt; Buildings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Industrial &lt;br /&gt; Buildings, Plant &lt;br /&gt; and Production&lt;br /&gt; Equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Vehicles, furniture&lt;br /&gt; and fixtures&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: justify"&gt;Opening net book amount&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27,713&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,352&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,335&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;238,400&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,038&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,267&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Currency translation adjustment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(74&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,292&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,985&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,165&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;41,442&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,009&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,488&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(818&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,315&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt"&gt;Transfers&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;496&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(496&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,137&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;225,389&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,194&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;275,720&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,514&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,869&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,908&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;44,291&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(62&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;62&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(181&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,229&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(295&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,705&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,330&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,581&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,683&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42,594&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27,807&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194,808&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,511&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;233,126&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Depreciation of right-of-use assets was mainly included in Tubes segment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The initial cost of right-of-use assets consists of the initial lease liability plus lease payments made in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$4&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Lease liability evolution&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 87%; font-size: 10pt; text-align: left"&gt;Opening net book amount&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;234,149&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,267&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,690&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,957&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Cancellations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,688&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Repayments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(43,974&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest accrued&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,766&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;230,167&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(&lt;div style="display: inline; font-weight: bold;"&gt;*&lt;/div&gt;) The weighted average lessee&amp;#x2019;s incremental borrowing rate applied to the lease liabilities on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019 &lt;/div&gt;was &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2.4%.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The amount of remaining payments with maturity less than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt; year, between &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt; years and more than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt; years is approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16%,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;44%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40%&lt;/div&gt; of the total remaining payments, respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Expense relating to short-term leases and low value leases (included in &lt;div style="display: inline; font-style: italic;"&gt;cost of sales and selling, general and administrative expenses&lt;/div&gt;) in the period amounted to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$15.1&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.3&lt;/div&gt; million respectively.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfLeasesExplanatory>
  <ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-45">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Unfunded&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;125,573&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97,318&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Funded&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,420&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,769&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,993&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115,087&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97,318&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;101,889&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,567&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,849&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Current service cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,978&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,526&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,070&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Remeasurements (*)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,010&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,946&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,660&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Benefits paid from the plan&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,328&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,719&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,976&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;473&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;125,573&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97,318&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Present value of funded obligations&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,412&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;146,885&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fair value of plan assets&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(145,160&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(132,438&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Liability (*)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,252&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,447&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;146,885&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;165,485&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,542&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(8,182&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Current service cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;721&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,328&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,754&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,691&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Remeasurements (*)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,769&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,984&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Benefits paid&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,259&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,453&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,412&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;146,885&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory>
  <ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523845">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 38.75pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Discontinued Operations&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 15, 2016, &lt;/div&gt;Tenaris entered into an agreement with Nucor Corporation (&amp;#x201c;NC&amp;#x201d;) pursuant to which it has sold to NC the steel electric conduit business in North America, known as Republic Conduit for an amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$328&lt;/div&gt; million (net of transaction costs). The sale was completed on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 19, 2017, &lt;/div&gt;with effect from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 20, 2017. &lt;/div&gt;The result of this transaction was an after-tax gain of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$89.7&lt;/div&gt; million, calculated as the net proceeds of the sale less the book value of net assets held for sale, the corresponding tax effect and related expenses.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;Income from discontinued operations&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,848&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&amp;nbsp;After tax gain on the sale of Conduit&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89,694&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&amp;nbsp;Net Income for discontinued operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;91,542&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Details of Conduit sale&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt; text-align: left"&gt;Cash received&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;331,295&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transaction and other costs&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,663&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Carrying amount of net assets sold&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(137,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Gain on sale before income tax&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;189,817&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense on gain&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(100,123&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Gain on sale after income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89,694&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The financial performances presented are relative to the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt; days of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Analysis of the result of discontinued operations:&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,899&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,496&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;Net income&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,848&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 160 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Summarized cash flow information is as follows&lt;div style="display: inline; font-weight: bold;"&gt;:&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt; text-align: left"&gt;Cash at the beginning&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,820&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Cash at the end&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;206&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;(Decrease) Increase in cash&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(18,614&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;(Used in) provided by operating activities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,046&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Provided by (used in) investing activities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Used in financing activities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(15,600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;These amounts were estimated only for disclosure purposes, as cash flows from discontinued operations were &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; managed separately from other cash flows.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The following table shows carrying amounts of assets and liabilities as at the date of sale.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Current and non-current assets and liabilities of disposal group&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;At January 19, 2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt; text-align: left"&gt;Non-current assets&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;87,332&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current assets&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;69,332&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total assets of disposal group classified as held for sale&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;156,664&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,294&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,556&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total liabilities of disposal group classified as held for sale&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,850&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory>
  <ifrs-full:DisclosureOfOperatingSegmentsExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-8">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Tubes&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Other&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Continuing operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Discontinued operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - Net Sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,870&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;424&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,294&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Management view - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;857&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;73&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;929&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Difference in cost of sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(105&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(102&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in selling, general and administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Differences in other operating income (expenses), net&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;755&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;77&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;832&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial income (expense), net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Income before equity in earnings of non-consolidated companies and income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;852&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Equity in earnings of non-consolidated companies&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;934&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;338&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;350&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;523&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;540&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Tubes&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Other&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Continuing operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Discontinued operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - Net Sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,233&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;426&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,659&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Management view - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;702&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;783&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Difference in cost of sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;112&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;119&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(34&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(34&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Differences in selling, general and administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;777&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;95&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;872&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial income (expense), net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;37&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Income before equity in earnings of non-consolidated companies and income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;909&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Equity in earnings of non-consolidated companies&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,103&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;346&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;349&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;645&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;664&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2017&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Tubes&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Other&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Continuing operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Discontinued operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - Net Sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,966&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;323&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,289&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Management view - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;163&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Difference in cost of sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;164&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;165&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Differences in selling, general and administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Differences in other operating income (expenses), net&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;IFRS - operating income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;292&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;43&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;335&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial income (expense), net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Income before equity in earnings of non-consolidated companies and income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;312&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Equity in earnings of non-consolidated companies&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;116&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Capital expenditures&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;550&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;558&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;594&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;609&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOperatingSegmentsExplanatory>
  <ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-48">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Payroll and social security payable&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;153,009&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;148,069&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Miscellaneous&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,255&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,624&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;176,264&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;165,693&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfOtherLiabilitiesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523816">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other liabilities&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(i)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other liabilities &amp;#x2013; Non current&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Post-employment benefits&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,993&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115,087&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other-long term benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;85,473&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;78,492&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Miscellaneous&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,917&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,550&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;251,383&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;213,129&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Post-employment benefits&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Unfunded&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;125,573&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97,318&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Funded&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,420&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,769&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,993&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115,087&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 18pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Unfunded&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97,318&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;101,889&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,567&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,849&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Current service cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,978&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,526&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,070&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Remeasurements (*)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,010&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,946&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,660&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Benefits paid from the plan&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,328&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,719&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,976&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;473&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;125,573&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;97,318&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 4.5pt; font-size: 10pt; text-align: justify"&gt;(*) For &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; a loss of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.3&lt;/div&gt; million is attributable to demographic assumptions and a loss of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$5.7&lt;/div&gt; million to financial assumptions. For &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; a gain of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.2&lt;/div&gt; million is attributable to demographic assumptions and a gain of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$3.7&lt;/div&gt; million to financial assumptions.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 4.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The actuarial assumptions for the most relevant plans were as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="5" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Year ended December 31,&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Discount rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; - &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2%&lt;/div&gt; - &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Rate of compensation increase&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0%&lt;/div&gt; - &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0%&lt;/div&gt; - &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;an increase / (decrease) of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; in the discount rate assumption of the main plans would have generated a (decrease) / increase on the defined benefit obligation of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$7.4&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$7&lt;/div&gt; million respectively, and an increase / (decrease) of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; in the rate of compensation assumption of the main plans would have generated an increase / (decrease) impact on the defined benefit obligation of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$4.5&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$4.5&lt;/div&gt; million respectively. The above sensitivity analyses are based on a change in discount rate and rate of compensation while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be correlated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 4.5pt"&gt;&lt;/td&gt; &lt;td style="width: 18pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Funded&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;The amounts recognized in the statement of financial position for the current annual period and the previous annual period are as follows:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Present value of funded obligations&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,412&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;146,885&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fair value of plan assets&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(145,160&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(132,438&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Liability (*)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,252&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,447&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;(*) In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$4.2&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$3.3&lt;/div&gt; million corresponding to a plan with a surplus balance were reclassified within other non-current assets, respectively. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 150 --&gt;    &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The movement in the present value of funded obligations is as follows:&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;146,885&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;165,485&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,542&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(8,182&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Current service cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;721&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,328&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,754&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,691&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Remeasurements (*)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,769&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,984&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Benefits paid&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,259&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,453&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,412&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;146,885&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(*) For &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; a loss of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.4&lt;/div&gt; million is attributable to demographic assumptions and a loss of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$12.4&lt;/div&gt; million to financial assumptions. For &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; a loss of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.4&lt;/div&gt; million is attributable to demographic assumptions and a gain of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$8.4&lt;/div&gt; million to financial assumptions. respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The movement in the fair value of plan assets is as follows:&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(132,438&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(145,692&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,137&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,514&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Return on plan assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,018&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,936&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Remeasurements&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,507&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,967&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions paid to the plan&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,589&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,108&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Benefits paid from the plan&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,259&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,453&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;270&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;364&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(145,160&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(132,438&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The major categories of plan assets as a percentage of total plan assets are as follows:&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Equity instruments&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;53.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debt instruments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The actuarial assumptions for the most relevant plans were as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Year ended December 31,&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Discount rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3 % - 4 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4 % - 5 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Rate of compensation increase&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0 % - 3 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0 % - 3 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The expected return on plan assets is determined by considering the expected returns available on the assets underlying the current investment policy. Expected return on plan assets is determined based on long-term, prospective rates of return as of the end of the reporting period.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;an increase / (decrease) of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; in the discount rate assumption of the main plans would have generated a (decrease) / increase on the defined benefit obligation of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$16.1&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$19.8&lt;/div&gt; million respectively, and an increase / (decrease) of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; in the compensation rate assumption of the main plans would have generated an increase / (decrease) on the defined benefit obligation of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.8&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.6&lt;/div&gt; million respectively. The above sensitivity analyses are based on a change in discount rate and rate of compensation while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be correlated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The employer contributions expected to be paid for the year &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt; amount approximately to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$5.1&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The methods and types of assumptions used in preparing the sensitivity analysis did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; change compared to the previous period.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 151 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(ii)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other liabilities &amp;#x2013; current&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Payroll and social security payable&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;153,009&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;148,069&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Miscellaneous&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,255&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,624&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;176,264&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;165,693&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-44">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Post-employment benefits&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,993&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115,087&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other-long term benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;85,473&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;78,492&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Miscellaneous&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,917&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,550&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;251,383&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;213,129&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523761">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other operating income and expenses&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt; text-indent: -22.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Other operating income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Net income from other sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,651&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,604&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,395&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net rents&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,089&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,909&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,325&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,025&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,546&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,796&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Recovery on allowance for doubtful receivables&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,239&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,004&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,059&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,516&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Other operating expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions to welfare projects and non-profits organizations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,199&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,379&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,158&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Loss on fixed assets and material supplies disposed / scrapped&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Allowance for doubtful receivables&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,179&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;84&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,199&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,558&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,360&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,199&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,558&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,359&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory>
  <ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523769">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Property, plant and equipment, net&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Land and &lt;br /&gt; civil &lt;br /&gt; buildings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Industrial &lt;br /&gt; buildings, &lt;br /&gt; plant and &lt;br /&gt; production &lt;br /&gt; equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Vehicles, &lt;br /&gt; furniture &lt;br /&gt; and &lt;br /&gt; fixtures&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Work in &lt;br /&gt; progress&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Spare &lt;br /&gt; parts and &lt;br /&gt; equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 22%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;732,578&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,121,569&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;377,260&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;127,378&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,197&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,421,982&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,611&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(38,961&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,615&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(864&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(256&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(43,307&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations (*)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59,468&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115,908&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,733&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,630&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;178,739&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,178&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,107&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;299,412&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,202&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;313,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27,153&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,110&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,120&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,557&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(38,975&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,723&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;296,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,349&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(317,128&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,984&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,232&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;799,139&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,468,813&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;399,724&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;108,308&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;60,602&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,836,586&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;110,914&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,936,900&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;310,260&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,358,074&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(420&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(24,973&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,485&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(26,878&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,409&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;415,826&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,080&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;447,315&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(362&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(38&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(73&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(25,580&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,889&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(31,542&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;121,468&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,302,135&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;322,966&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,746,569&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;677,671&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,166,678&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;76,758&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;108,308&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;60,602&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,090,017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(*) Related to SSP acquisition. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Land and&lt;br /&gt; civil &lt;br /&gt; buildings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Industrial &lt;br /&gt; buildings, &lt;br /&gt; plant and &lt;br /&gt; production &lt;br /&gt; equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Vehicles, &lt;br /&gt; furniture &lt;br /&gt; and &lt;br /&gt; fixtures&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Work in &lt;br /&gt; progress&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Spare &lt;br /&gt; parts and &lt;br /&gt; equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 22%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;712,061&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,954,585&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;370,542&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;167,079&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42,413&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,246,680&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,628&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(117,977&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,458&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,269&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(424&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(131,756&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;723&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;681&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,245&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;294,163&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,756&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;317,568&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(221&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(21,836&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,269&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(42&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,541&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(35,909&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,643&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;306,116&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,200&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(331,553&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,993&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,399&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;732,578&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,121,569&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;377,260&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;127,378&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,197&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,421,982&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;101,197&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,612,871&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;303,469&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,017,537&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,383&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(72,141&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,939&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(78,463&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,153&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;417,229&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,083&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;449,465&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(671&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(498&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(53&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(21,232&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(8,682&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(29,967&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;110,914&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,936,900&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;310,260&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,358,074&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;621,664&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,184,669&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;67,000&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;127,378&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,197&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,063,908&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Property, plant and equipment include capitalized interests for net amounts at &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$35.4&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$37.4&lt;/div&gt; million, respectively. There were &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; interest capitalized during &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-20">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Information &lt;br /&gt; system projects&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Licenses,&lt;br /&gt; patents and&lt;br /&gt; trademarks (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Goodwill&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Customer&lt;br /&gt; relationships&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;580,622&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;464,571&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,085,936&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,058,859&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,189,988&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,917&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(70&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(968&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,955&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations (**)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;405&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32,869&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81,192&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;114,466&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;35,487&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;772&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,259&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,665&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,665&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,062&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,531&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,593&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;604,870&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;463,742&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,117,837&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,140,051&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,326,500&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;513,984&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;373,466&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;797,592&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,038,981&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,724,023&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,734&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,734&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Amortization charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,937&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;719&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,259&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,850&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(413&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,263&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;536,337&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;373,772&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;797,592&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,057,240&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,764,941&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;68,533&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89,970&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,320,245&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82,811&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,561,559&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Information &lt;br /&gt; system projects&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Licenses,&lt;br /&gt; patents and&lt;br /&gt; trademarks (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Goodwill&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Customer&lt;br /&gt; relationships&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;560,692&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;465,963&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,090,073&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,058,859&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,175,587&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,153&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(183&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,137&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,473&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,632&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;273&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,905&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,493&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,493&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(56&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,482&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,538&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;580,622&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;464,571&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,085,936&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,058,859&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,189,988&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;478,946&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;372,746&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;797,592&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,865,444&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,514,728&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,551&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,551&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Amortization charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,635&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;720&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;173,537&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;214,892&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(46&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(46&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;513,984&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;373,466&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;797,592&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,038,981&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,724,023&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;66,638&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;91,105&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,288,344&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,878&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,465,965&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory>
  <ifrs-full:DisclosureOfRelatedPartyExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523851">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 2.75pt"&gt;&lt;/td&gt; &lt;td style="width: 36pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Related party transactions&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;San Faustin S.A., a Luxembourg soci&amp;eacute;t&amp;eacute; anonyme (&amp;#x201c;San Faustin&amp;#x201d;), owned &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;713,605,187&lt;/div&gt; shares in the Company, representing &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;60.45%&lt;/div&gt; of the Company&amp;#x2019;s capital and voting rights.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;San Faustin owned all of its shares in the Company through its wholly-owned subsidiary Techint Holdings S.&amp;agrave;.r.l., a Luxembourg soci&amp;eacute;t&amp;eacute; &amp;agrave; responsabilit&amp;eacute; limit&amp;eacute;e (&amp;#x201c;Techint&amp;#x201d;), who is the holder of record of the above-mentioned Tenaris shares.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Rocca &amp;amp; Partners Stichting Administratiekantoor Aandelen San Faustin, a private foundation located in the Netherlands (Stichting) (&amp;#x201c;RP STAK&amp;#x201d;) held voting shares in San Faustin sufficient in number to control San Faustin.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;No&lt;/div&gt; person or group of persons controls RP STAK.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Based on the information most recently available to the Company, Tenaris&amp;#x2019;s directors and senior management as a group owned &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.08%&lt;/div&gt; of the Company&amp;#x2019;s outstanding shares.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Transactions and balances disclosed as with &amp;#x201c;non-consolidated parties&amp;#x201d; are those with companies over which Tenaris exerts significant influence or joint control in accordance with IFRS, but does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; have control. All other transactions and balances with related parties which are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; non-consolidated parties and which are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; consolidated are disclosed as &amp;#x201c;Other&amp;#x201d;. The following transactions were carried out with related parties:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Transactions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;(a) Sales of goods and services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 5%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 59%; font-size: 10pt; text-align: left"&gt;Sales of goods to non-consolidated parties&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,577&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,709&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32,362&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales of goods to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;69,972&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;131,548&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;94,624&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales of services to non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,620&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,641&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Sales of services to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,386&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,647&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,751&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100,555&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;168,545&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;142,374&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;(b) Purchases of goods and services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchases of goods to non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;174,588&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;245,186&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;234,361&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchases of goods to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51,765&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;106,624&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,711&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchases of services to non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,404&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,556&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,077&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Purchases of services to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,514&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46,179&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;50,794&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;290,271&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;407,545&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;314,943&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 161 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;At December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Period-end balances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;(a) Arising from sales / purchases of goods / services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 5%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 71%; font-size: 10pt; text-align: left"&gt;Receivables from non-consolidated parties&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;78,884&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;122,136&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivables from other related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,419&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Payables to non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(19,100&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(33,197&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Payables to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,048&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,595&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;95,763&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;(b) Financial debt&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Finance lease liabilities from non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,064&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,064&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: normal"&gt;In addition to the tables above, Tenaris issued various guarantees and is party to a commitment in favor of Techgen: for further details, please see note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt;(c) and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25&lt;/div&gt;(ii). &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;No&lt;/div&gt; other material guarantees were issued in favor of other related parties.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in"&gt;Directors&amp;#x2019; and senior management compensation&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;During the years ended &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017,&lt;/div&gt; the cash compensation of Directors and Senior managers amounted to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$33.7&lt;/div&gt; million, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$33.7&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$45.8&lt;/div&gt; million respectively. These amounts include cash benefits paid to certain senior managers in connection with the pre-existing retirement plans. In addition, Directors and Senior managers received &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;468,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;558&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;484&lt;/div&gt; thousand units for a total amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$4.8&lt;/div&gt; million, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$5.6&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$4.7&lt;/div&gt; million respectively in connection with the Employee retention and long term incentive program mentioned in Note O Employee benefits &amp;#x2013; Other long term benefits.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRelatedPartyExplanatory>
  <ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-63">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: black 1pt solid; border-right: black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Country of&lt;br /&gt; Incorporation&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: black 1pt solid; border-right: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Main activity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Percentage of ownership at&lt;br /&gt; December 31, (*)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: bottom; width: 41%; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 27%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2019&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 6%; border-right: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2018&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 8%; border-right: black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ALGOMA TUBES INC.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Canada&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;CONFAB INDUSTRIAL S.A. and subsidiaries&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Brazil&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded steel pipes and capital goods&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;DALMINE S.p.A.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Italy&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;HYDRIL COMPANY and subsidiaries (except detailed) (a)&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacture and marketing of premium connections&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;KAZAKHSTAN PIPE THREADERS LIMITED LIABILITY PARTNERSHIP&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Kazakhstan&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Threading of premium products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;MAVERICK TUBE CORPORATION and subsidiaries&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded steel pipes &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;NKKTUBES&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Japan&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;P.T. SEAMLESS PIPE INDONESIA JAYA&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Indonesia&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;PRUDENTIAL STEEL LTD.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Canada&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded steel pipes &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;S.C. SILCOTUB S.A.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Romania&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;SAUDI STEEL PIPE CO.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Saudi Arabia&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded steel pipes &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;NA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;NA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;SIAT SOCIEDAD ANONIMA&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Argentina&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded and seamless steel pipes &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL and subsidiaries&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Argentina&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TALTA - TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Portugal&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding Company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS BAY CITY, INC.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS CONNECTIONS BV&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Netherlands&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Development, management and licensing of intellectual property&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS FINANCIAL SERVICES S.A.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Uruguay&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Financial company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS GLOBAL SERVICES (CANADA) INC.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Canada&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Marketing of steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;USA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Marketing of steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS GLOBAL SERVICES (UK) LTD&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;United Kingdom&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company and marketing of steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS GLOBAL SERVICES S.A. and subsidiaries (except detailed) (b)&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Uruguay&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company and marketing of steel products&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS INVESTMENTS (NL) B.V.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Netherlands&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;NA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;NA&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS INVESTMENTS S.&amp;agrave;r.l.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Luxembourg&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Switzerland&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Holding company&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TENARIS TUBOCARIBE LTDA.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Colombia&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of welded and seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;TUBOS DE ACERO DE MEXICO, S.A.&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: black 1pt solid; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Mexico&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Manufacturing of seamless steel pipes&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory>
  <ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523739">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; text-transform: uppercase"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;II. Accounting policies &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; text-transform: uppercase"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The principal accounting policies applied in the preparation of these Consolidated Financial Statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;A&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Basis of presentation&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial Reporting Standards (&amp;#x201c;IFRS&amp;#x201d;), as issued by the International Accounting Standards Board (&amp;#x201c;IASB&amp;#x201d;) and in accordance with IFRS as adopted by the European Union, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities (including derivative instruments) and plan assets at fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of U.S. dollars (&amp;#x201c;$&amp;#x201d;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Whenever necessary, certain comparative amounts have been reclassified to conform to changes in presentation in the current year.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Following the sale of the steel electric conduit business in North America, known as Republic Conduit, in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2017, &lt;/div&gt;the results of the mentioned business are presented as discontinued operations in accordance with IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,&lt;/div&gt; "Non-current Assets Held for Sale and Discontinued Operations". Consequently, all comparative amounts related to discontinued operations within each line item of the Consolidated Income Statement are reclassified into discontinued operations. The Consolidated Statement of Cash Flows includes the cash flows for continuing and discontinued operations. Cash flows from discontinued operations and earnings per share are disclosed separately in Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,&lt;/div&gt; as well as additional information detailing net assets of disposal group classified as held for sale and discontinued operations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make certain accounting estimates and assumptions that might affect among others, the reported amounts of assets, liabilities, contingent assets and liabilities, revenues and expenses. Actual results &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;differ from these estimates. The main areas involving significant estimates or judgements are: Impairment of goodwill and long-lived assets (note II.G); Income Taxes (note II.N); Loss contingencies (note II.P); Defined benefit obligations (note II.O), Business Combinations (notes II.B, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;III.27&lt;/div&gt;); Useful lives of property, plant and equipment and other long-lived assets (notes II.E, II.F, II.G).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Accounting pronouncements applicable as from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019 &lt;/div&gt;and relevant for Tenaris&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,&lt;/div&gt; &amp;#x201c;Leases&amp;#x201d;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris has adopted IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16&lt;/div&gt; &amp;#x201c;Leases&amp;#x201d; from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019. &lt;/div&gt;In accordance with the transition provisions in IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,&lt;/div&gt; Tenaris has adopted the new rules using the modified retrospective approach, meaning that reclassifications of the adoption was recognized in the opening balance sheet as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019 &lt;/div&gt;and that comparatives were &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; restated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Upon adoption of IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,&lt;/div&gt; Tenaris recognized lease liabilities in relation to leases which had previously been classified as &amp;#x201c;operating leases&amp;#x201d; under the principles of IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17&lt;/div&gt; &amp;#x201c;Leases&amp;#x201d;. These liabilities were measured at the present value of the remaining lease payments, discounted using the lessee&amp;#x2019;s incremental borrowing rate as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019. &lt;/div&gt;The associated right-of-use assets were measured at the amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments relating to that lease recognized in the balance sheet as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2018. &lt;/div&gt;The difference between the amount of the lease liability recognized in the statement of financial position at the date of initial application and the operating lease commitments under IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17&lt;/div&gt; is related to leases with a duration lower than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; months, low value leases and/or leases with clauses related to variable payments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;  &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the lease term on a straight-line basis.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Lease liabilities include the net present value of i) fixed payments, less any lease incentives receivable, ii) variable lease payments that are based on an index or a rate, iii) amounts expected to be payable by the lessee under residual value guarantees, iv) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and v) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee&amp;#x2019;s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Right-of-use assets are measured at cost comprising the amount of the initial measurement of lease liability, any lease payments made at or before the commencement date less any lease incentives received and any initial direct costs incurred by the lessee.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 28.05pt; font-size: 10pt; text-align: justify; text-indent: -28.05pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expenses in profit or loss. Short-term leases are leases with a lease term of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; months or less. Low-value comprise mainly IT equipment and small items of office furniture.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; terminated).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;IFRIC &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,&lt;/div&gt; "Uncertainty over Income Tax Treatments"&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris has adopted IFRIC &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23&lt;/div&gt; &amp;#x201c;Uncertainty over Income Tax Treatments&amp;#x201d; from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019. &lt;/div&gt;This interpretation clarifies how the recognition and measurement requirements of IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; &amp;#x201c;Income taxes&amp;#x201d; are applied where there is uncertainty over income tax treatments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other accounting pronouncements that became effective during &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; have &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; material effect on the Company&amp;#x2019;s financial condition or results of operations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;B&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Group accounting&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Subsidiaries and transactions with non-controlling interests&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Subsidiaries are all entities over which Tenaris has control. Tenaris controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is exercised by the Company and are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; longer consolidated from the date control ceases.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The acquisition method of accounting is used to account for the acquisition of subsidiaries by Tenaris. The cost of an acquisition is measured as the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed at the date of exchange. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at the non-controlling interest&amp;#x2019;s proportionate share of the acquiree&amp;#x2019;s net assets. The excess of the aggregate of the consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 113 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Contingent consideration is classified either as equity or as a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If the business combination is achieved in stages, the acquisition date carrying value of the acquirer&amp;#x2019;s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Transactions with non-controlling interests that do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; result in a loss of control are accounted as transactions with equity owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When the Company ceases to have control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Material intercompany transactions, balances and unrealized gains (losses) on transactions between Tenaris subsidiaries have been eliminated in consolidation. However, since the functional currency of some subsidiaries is its respective local currency, some financial gains (losses) arising from intercompany transactions are generated. These are included in the Consolidated Income Statement under &lt;div style="display: inline; font-style: italic;"&gt;Other financial results&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Non-consolidated companies&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-consolidated companies are all entities in which Tenaris has significant influence but &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; control, generally accompanying a shareholding of between &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;50%&lt;/div&gt; of the voting rights. Investments in non-consolidated companies (associated and joint ventures) are accounted for by the equity method of accounting and are initially recognized at cost. The Company&amp;#x2019;s investment in non-consolidated companies includes goodwill identified in acquisition, net of any accumulated impairment loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Under the equity method of accounting, the investments are initially recognized at cost and adjusted thereafter to recognize Tenaris&amp;#x2019;s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris&amp;#x2019;s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated to the extent of Tenaris&amp;#x2019;s interest in the non-consolidated companies. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment indicator of the asset transferred. Financial statements of non-consolidated companies have been adjusted where necessary to ensure consistency with IFRS.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;The Company&amp;#x2019;s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income Statement under &lt;/div&gt;Equity in earnings (losses) of non-consolidated companies&lt;div style="display: inline; font-style: normal"&gt;. The Company&amp;#x2019;s pro-rata share of changes in other comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 114 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;Ternium&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;Tenaris holds &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.46%&lt;/div&gt; of Ternium S.A (&amp;#x201c;Ternium&amp;#x201d;)&amp;#x2019;s common stock. The following factors and circumstances evidence that Tenaris has significant influence (as defined by IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,&lt;/div&gt; &amp;#x201c;Investments in associates companies and Joint Ventures&amp;#x201d;) over Ternium, and as a result the Company&amp;#x2019;s investment in Ternium has been accounted for under the equity method:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Both the Company and Ternium are under the indirect common control of San Faustin S.A.;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Four out of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;eight&lt;/div&gt; members of Ternium&amp;#x2019;s Board of Directors (including Ternium&amp;#x2019;s Chairman) are also members of the Company&amp;#x2019;s Board of Directors;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Under the shareholders&amp;#x2019; agreement by and between the Company and Techint Holdings S.&amp;agrave; r.l, a wholly owned subsidiary of San Faustin S.A. and Ternium&amp;#x2019;s main shareholder, dated &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 9, 2006, &lt;/div&gt;Techint Holdings S.&amp;agrave;.r.l, is required to take actions within its power to cause (a) &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; of the members of Ternium&amp;#x2019;s Board of Directors to be nominated by the Company and (b) any director nominated by the Company to be only removed from Ternium&amp;#x2019;s Board of Directors pursuant to previous written instructions of the Company.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Usiminas&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;Tenaris holds through its Brazilian subsidiary Confab Industrial S.A. (&amp;#x201c;Confab&amp;#x201d;), &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5.2%&lt;/div&gt; of the shares with voting rights and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.07%&lt;/div&gt; of Usinas Sider&amp;uacute;rgicas de Minas Gerais S.A. (&amp;#x201c;Usiminas&amp;#x201d;) total share capital.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The acquisition of Usiminas shares was part of a larger transaction performed &lt;div style="display: inline; color: black"&gt;on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 16, 2012,&lt;/div&gt;&lt;/div&gt; pursuant to which Ternium, certain of its subsidiaries and Confab joined Usiminas&amp;#x2019; existing control group through the acquisition of ordinary shares representing &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27.7%&lt;/div&gt; of Usiminas&amp;#x2019; total voting capital and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13.8%&lt;/div&gt; of Usiminas&amp;#x2019; total share capital. &lt;div style="display: inline; color: black"&gt;A shareholders&amp;#x2019; agreement governed the rights and obligations of the several control group members.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 2016 &lt;/div&gt;Tenaris&amp;#x2019;s subsidiary Confab subscribed, in the aggregate, to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1.3&lt;/div&gt; million preferred shares (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL1.28&lt;/div&gt; per share) for a total amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL1.6&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$0.5&lt;/div&gt; million) and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.5&lt;/div&gt; million ordinary shares (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL5.00&lt;/div&gt; per share) for a total amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;BRL57.5&lt;/div&gt; million (approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$16.6&lt;/div&gt; million). The preferred and ordinary shares were issued on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 3, 2016 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; July 19, 2016, &lt;/div&gt;respectively. Consequently as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;Tenaris owns &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36.5&lt;/div&gt; million ordinary shares and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1.3&lt;/div&gt; million preferred shares of Usiminas.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2014,&lt;/div&gt; a conflict arose between the T/T Group (comprising Confab and Ternium&amp;#x2019;s subsidiaries Ternium Investments, Ternium Argentina and Prosid Investments) and Nippon Steel &amp;amp; Sumitomo Metal Corporation (&amp;#x201c;NSSMC&amp;#x201d;) with respect to the governance of Usiminas.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 8, 2018, &lt;/div&gt;Ternium Investments resolved the dispute with NSSMC, and on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April 10, 2018, &lt;/div&gt;the T/T Group entities (including Confab), NSSMC and Previd&amp;ecirc;ncia Usiminas entered into a new shareholders&amp;#x2019; agreement for Usiminas, amending and restating the previously existing shareholders agreement (the &amp;#x201c;New SHA&amp;#x201d;). Usiminas&amp;#x2019; control group now holds, in the aggregate, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;483.6&lt;/div&gt; million ordinary shares bound to the New SHA, representing approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;68.6%&lt;/div&gt; of Usiminas&amp;#x2019; voting capital, with the T/T Group holding approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47.1%&lt;/div&gt; of the total shares held by the control group (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;39.5%&lt;/div&gt; corresponding to the Ternium entities and the other &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7.6%&lt;/div&gt; corresponding to Confab); NSSMC holding approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;45.9%&lt;/div&gt; of the total shares held by the control group; and Previd&amp;ecirc;ncia Usiminas holding the remaining &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7%&lt;/div&gt; of the total shares held by the control group.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The New SHA reflects the agreed-upon corporate governance rules for Usiminas, including, among others, an alternation mechanism for the nomination of each of the chief executive officer and the Chairman of the board of directors, as well as a mechanism for the nomination of other members of Usiminas&amp;#x2019; executive board. The New SHA also incorporates an exit mechanism consisting of a buy-and-sell procedure, exercisable at any time during the term of the New SHA after the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;fourth&lt;/div&gt;-and-a-half-year anniversary from the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 2018 &lt;/div&gt;election of Usiminas&amp;#x2019; executive board. Such exit mechanism shall apply with respect to shares held by NSSMC and the T/T Group, and would allow either Ternium or NSSMC to purchase all or a majority of the Usiminas shares held by the other shareholder.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 115 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In connection with the execution of the New SHA, Confab and the Ternium entities amended and restated their separate shareholders&amp;#x2019; agreement governing their respective rights and obligations as members of the T/T Group to include provisions relating to the exit mechanism and generally to conform such separate shareholders&amp;#x2019; agreement to the other provisions of the New SHA. The rights of Confab and Ternium and its subsidiaries within the Ternium - Tenaris Group are governed under such amended and restated separate shareholders agreement. Those circumstances evidence that Tenaris has significant influence over Usiminas, and consequently, accounted it for under the equity method (as defined by IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Techgen&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Techgen S.A. de C.V. (&amp;#x201c;Techgen&amp;#x201d;) is a Mexican joint venture company owned &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48%&lt;/div&gt; by Ternium, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30%&lt;/div&gt; by Tecpetrol International S.A. and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22%&lt;/div&gt; by Tenaris. Techgen operates a natural gas-fired combined electric power plant in the Pesquer&amp;iacute;a area of the State of Nuevo Leon, M&amp;eacute;xico. Tenaris, Ternium and Tecpetrol International S.A. are parties to a shareholders&amp;#x2019; agreement relating to the governance of Techgen. In addition, the Company, Ternium and Tecpetrol International S.A. are under the indirect common control of San Faustin S.A., consequently Tenaris accounted it&amp;#x2019;s interest under the equity method (as defined by IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris carries its investment in Ternium, Usiminas and Techgen under the equity method, with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; additional goodwill or intangible assets recognized. Tenaris reviews investments in non-consolidated companies for impairment whenever events or changes in circumstances indicate that the asset&amp;#x2019;s carrying amount &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; be recoverable. At &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; &lt;/div&gt;&lt;/div&gt;impairment provisions were recorded in any of the aforementioned investments. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;C&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Segment information&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-indent: 0.5in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company is organized in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; &lt;/div&gt;major business segment, Tubes, which is also the reportable operating segment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Tubes segment includes the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. Business activities included in this segment are mainly dependent on the oil and gas industry worldwide, as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling activities. Demand for steel pipe products from the oil and gas industry has historically been volatile and depends primarily upon the number of oil and natural gas wells being drilled, completed and reworked, and the depth and drilling conditions of these wells. Sales are generally made to end users, with exports being done through a centrally managed global distribution network and domestic sales are made through local subsidiaries. Corporate general and administrative expenses have been allocated to the Tubes segment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Others includes all other business activities and operating segments that are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; required to be separately reported, including the production and selling of sucker rods, industrial equipment, coiled tubing, utility conduits for buildings, heat exchangers, energy and raw materials that exceed internal requirements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris&amp;#x2019;s Chief Operating Decision Maker (CEO) holds monthly meetings with senior management, in which operating and financial performance information is reviewed, including financial information that differs from IFRS principally as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;The use of direct cost methodology to calculate the inventories, while under IFRS it is at full cost, including absorption of production overheads and depreciations;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;The use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated at historical cost;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Other timing differences, if any.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris presents its geographical information in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;five&lt;/div&gt; areas: North America, South America, Europe, Middle East and Africa and Asia Pacific. For purposes of reporting geographical information, net sales are allocated to geographical areas based on the customer&amp;#x2019;s location; allocation of assets, capital expenditures and associated depreciations and amortizations are based on the geographical location of the assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 116 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: left"&gt;D&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Foreign currency translation&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Functional and presentation currency&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21&lt;/div&gt; (revised), &amp;#x201c;The effects of changes in foreign exchange rates&amp;#x201d; defines the functional currency as the currency of the primary economic environment in which an entity operates.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The functional and presentation currency of the Company is the U.S. dollar. The U.S. dollar is the currency that best reflects the economic substance of the underlying events and circumstances relevant to Tenaris&amp;#x2019;s global operations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Except for the Brazilian and Italian subsidiaries whose functional currencies are their local currencies, Tenaris determined that the functional currency of its other subsidiaries is the U.S. dollar, based on the following principal considerations:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Sales are mainly negotiated, denominated and settled in U.S. dollars. If priced in a currency other than the U.S. dollar, the sales price &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;consider exposure to fluctuation in the exchange rate versus the U.S. dollar;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Prices of their critical raw materials and inputs are priced and settled in U.S. dollars;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Transaction and operational environment and the cash flow of these operations have the U.S. dollar as reference currency;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Significant level of integration of the local operations within Tenaris&amp;#x2019;s international global distribution network;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Net financial assets and liabilities are mainly received and maintained in U.S. dollars;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;The exchange rate of certain legal currencies has long-been affected by recurring and severe economic crises.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Transactions in currencies other than the functional currency&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuation where items are re-measured. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when the fair value was determined. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included in &lt;div style="display: inline; font-style: italic;"&gt;Other financial results&lt;/div&gt; in the Consolidated Income Statement, except when deferred in equity as qualifying cash flow hedges and qualifying net investment hedges. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Translation of financial information in currencies other than the functional currency&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Results of operations for subsidiaries whose functional currencies are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; the U.S. dollar are translated into U.S. dollars at the average exchange rates for each quarter of the year. Financial statement positions are translated at the year-end exchange rates. Translation differences are recognized in a separate component of equity as currency translation adjustments. In the case of a sale or other disposal of any of such subsidiaries, any accumulated translation difference would be recognized in income as a gain or loss from the sale.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill and fair value adjustments arising from the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing rate.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-indent: -0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 117 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;E&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Property, plant and equipment&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Property, plant and equipment are recognized at historical acquisition or construction cost less accumulated depreciation and impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Property, plant and equipment acquired through acquisitions accounted for as business combinations have been valued initially at the fair market value of the assets acquired.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Major overhaul and rebuilding expenditures are capitalized as property, plant and equipment only when it is probable that future economic benefits associated with the item will flow to the Company and the investment enhances the condition of assets beyond its original condition. The carrying amount of the replaced part is derecognized. Maintenance expenses on manufacturing properties are recorded as cost of products sold in the year in which they are incurred.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cost &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;also include transfers from equity of any gains or losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Borrowing costs that are attributable to the acquisition or construction of certain capital assets are capitalized as part of the cost of the asset, in accordance with IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23&lt;/div&gt;(R), &amp;#x201c;Borrowing Costs&amp;#x201d;. Assets for which borrowing costs are capitalized are those that require a substantial period of time to prepare for their intended use.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The depreciation method is reviewed at each year end. Depreciation is calculated using the straight-line method to depreciate the cost of each asset to its residual value over its estimated useful life, as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"&gt;  &lt;tr&gt; &lt;td style="vertical-align: top; width: 4%; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; width: 56%; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Land&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 40%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;No Depreciation&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Buildings and improvements &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30-50 years&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Plant and production equipment &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10-40 years&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Vehicles, furniture and fixtures, and other equipment&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4-10 years&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The assets&amp;#x2019; residual values and useful lives of significant plant and production equipment are reviewed and adjusted, if appropriate, at each year-end date. An asset&amp;#x2019;s carrying amount is written down immediately to its recoverable amount if the asset&amp;#x2019;s carrying amount is greater than its estimated recoverable amount.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management&amp;#x2019;s re-estimation of assets useful lives, performed in accordance with IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,&lt;/div&gt; &amp;#x201c;Property, Plant and Equipment&amp;#x201d;, did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; materially affect depreciation expenses for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris depreciates each significant part of an item of property, plant and equipment for its different production facilities that (i) can be properly identified as an independent component with a cost that is significant in relation to the total cost of the item, and (ii) has a useful operating life that is different from another significant part of that same item of property, plant and equipment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Gains and losses on disposals are determined by comparing the proceeds with the carrying amount of assets and are recognized under &lt;div style="display: inline; font-style: italic;"&gt;Other operating income &lt;/div&gt;or &lt;div style="display: inline; font-style: italic;"&gt;Other operating expenses&lt;/div&gt; in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;F&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Intangible assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Goodwill&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&lt;div style="display: inline; font-style: normal"&gt;Goodwill represents the excess of the acquisition cost over the fair value of Tenaris&amp;#x2019;s share of net identifiable assets acquired as part of business combinations determined mainly by independent valuations. Goodwill is tested at least annually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; reversed. Goodwill is included in the Consolidated Statement of Financial Position under &lt;/div&gt;Intangible assets, net.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;For the purpose of impairment testing, goodwill is allocated to a CGU or group of CGUs that are expected to benefit from the business combination which generated the goodwill being tested. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Information systems projects&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Costs associated with maintaining computer software programs are generally recognized as an expense as incurred. However, costs directly related to the development, acquisition and implementation of information systems are recognized as intangible assets if it is probable that they have economic benefits exceeding &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; year and comply with the recognition criteria of IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38,&lt;/div&gt; &amp;#x201c;Intangible Assets&amp;#x201d;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 118 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Information systems projects recognized as assets are amortized using the straight-line method over their useful lives, generally &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; exceeding a period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt; years. Amortization charges are mainly classified as &lt;div style="display: inline; font-style: italic;"&gt;Selling, general and administrative expenses&lt;/div&gt; in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management&amp;#x2019;s re-estimation of assets useful lives, performed in accordance with IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38,&lt;/div&gt; did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; materially affect amortization expenses for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Licenses, patents, trademarks and proprietary technology&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Licenses, patents, trademarks, and proprietary technology acquired in a business combination are initially recognized at fair value at the acquisition date. Licenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their estimated useful lives, and does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; exceed a period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10&lt;/div&gt; years. Amortization charges are mainly classified as &lt;div style="display: inline; font-style: italic;"&gt;Selling, general and administrative expenses&lt;/div&gt; in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The balance of acquired trademarks that have indefinite useful lives according to external appraisal amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$86.7&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; million at &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017,&lt;/div&gt; and are included in Hydril CGU. Main factors considered in the determination of the indefinite useful lives include the years that they have been in service and their recognition among customers in the industry.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management&amp;#x2019;s re-estimation of assets useful lives, performed in accordance with IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38,&lt;/div&gt; did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; materially affect amortization expenses for &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Research and development&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Research expenditures as well as development costs that do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; fulfill the criteria for capitalization are recorded as &lt;div style="display: inline; font-style: italic;"&gt;Cost of sales&lt;/div&gt; in the Consolidated Income Statement as incurred. Research and development expenditures included in &lt;div style="display: inline; font-style: italic;"&gt;Cost of sales&lt;/div&gt; for the years &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; totaled &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$61.1&lt;/div&gt; million, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$63.4&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$63.7&lt;/div&gt; million, respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Capitalized costs were &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; material for the years &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: -0.5in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Customer relationships&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 13.85pt; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify"&gt;In accordance with IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,&lt;/div&gt; "Business Combinations" and IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;38,&lt;/div&gt; Tenaris has recognized the value of customer relationships separately from goodwill attributable to the acquisition of Maverick and Hydril groups, as well as the more recent acquisition of SSP.&lt;/div&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify"&gt;Customer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight line method over the initial expected useful life of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14&lt;/div&gt; years for Maverick, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10&lt;/div&gt; years for Hydril and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt; years for SSP.&lt;/div&gt; &lt;div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; the Company reviewed the useful life of Maverick&amp;#x2019;s Tubes customer relationships and decided to reduce the remaining useful life from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt; years to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;zero&lt;/div&gt;, consequently a higher amortization charge of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$109&lt;/div&gt; million was recorded in the Consolidated Income Statement under &lt;div style="display: inline; font-style: italic;"&gt;Selling, general and administrative expenses&lt;/div&gt; for the year ended &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the net book value of SSP&amp;#x2019;s customer relationship amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$72.9&lt;/div&gt; million, with a residual useful life of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt; years. Maverick&amp;#x2019;s coiled tubing customer relationships amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$9.9&lt;/div&gt; million with a residual useful life of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt; year, while Hydril&amp;#x2019;s customer relationships is fully amortized.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 119 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;G&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Impairment of non-financial assets&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Long-lived assets including identifiable intangible assets are reviewed for impairment at the lowest level for which there are separately identifiable cash flows (cash generating units, or CGU). Most of the Company&amp;#x2019;s principal subsidiaries that constitute a CGU have a single main production facility and, accordingly, each of such subsidiary represents the lowest level of asset aggregation that generates largely independent cash inflows.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; be recoverable. Intangible assets with indefinite useful lives, including goodwill, are subject to at least an annual impairment test.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In assessing whether there is any indication that a CGU &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be impaired, external and internal sources of information are analyzed. Material facts and circumstances specifically considered in the analysis usually include the discount rate used in Tenaris&amp;#x2019;s cash flow projections and the business condition in terms of competitive and economic factors, such as the cost of raw materials, oil and gas prices, capital expenditure programs for Tenaris&amp;#x2019;s customers and the evolution of the rig count.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;An impairment loss is recognized for the amount by which the asset&amp;#x2019;s carrying amount exceeds its recoverable amount. The recoverable amount is the higher between the asset&amp;#x2019;s value in use and fair value less costs of disposal. Any impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the following order:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: right"&gt;(a)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;first, to reduce the carrying amount of any goodwill allocated to the CGU; and&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: right"&gt;(b)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;then, to the other assets of the unit (group of units) pro-rata on the basis of the carrying amount of each asset in the unit (group of units), considering &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; to reduce the carrying amount of the asset below the highest of its fair value less cost of disposal, its value in use or zero.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;For purposes of calculating the fair value less costs of disposal, Tenaris uses the estimated value of future cash flows that a market participant could generate from the corresponding CGU.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management judgment is required to estimate discounted future cash flows. Actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived using discounting techniques.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at each reporting date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris regularly conducts assessments of the carrying values of its assets. The value-in-use was used to determine the recoverable value. Value-in-use is calculated by discounting the estimated cash flows over a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;five&lt;/div&gt;-year period based on forecasts approved by management. For the subsequent years beyond the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;five&lt;/div&gt;-year period, a terminal value is calculated based on perpetuity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris&amp;#x2019;s main source of revenue is the sale of products and services to the oil and gas industry and the level of such sales is sensitive to international oil and gas prices and their impact on drilling activities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For purposes of assessing key assumptions, Tenaris uses external sources of information and management judgment based on past experience.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The main key assumptions used in estimating the value in use are discount rate, growth rate and competitive and economic factors applied to determine Tenaris&amp;#x2019;s cash flow projections, such as oil and gas prices, average number of active oil and gas drilling rigs (rig count) and raw material costs.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management has determined the value of each of the key assumptions as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Discount rate: based on the applicable weighted average cost of capital (WACC), which is considered to be a good indicator of capital cost, taking into account the industry, country and size of the business. For each CGU where assets are allocated, a specific WACC was determined taking into account the industry, country and size of the business. In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; the main discount rates used were in a range between &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8.2%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15.9%.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Growth rate: considers the long-term average growth rate for the oil and gas industry, the inflation impact on prices and costs, the higher demand to offset depletion of existing fields and the Company&amp;#x2019;s expected market penetration. In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; a nominal growth rate of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2%&lt;/div&gt; was considered.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 120 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Oil and gas prices: based on industry analysts&amp;#x2019; reports and&amp;nbsp;management&amp;#x2019;s expectations of market development respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Rig count: based on information published by Baker Hughes and management&amp;#x2019;s expectations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;- Raw material costs: based on industry analysts&amp;#x2019; reports and management&amp;#x2019;s expectations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The main factors that could result in additional impairment charges in future periods would be an increase in the discount rate or a decrease in growth rate used in the Company&amp;#x2019;s cash flow projections, a deterioration of the business, competitive and economic factors, such as a decrease in oil and gas prices, and the evolution of the rig count.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For the CGU with significant amount of goodwill assigned in comparison to the total amount of goodwill, Tenaris has determined that the CGU for which a reasonable possible change in the key assumption would cause the CGUs&amp;#x2019; carrying amount to exceed its recoverable amount was OCTG USA.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In OCTG USA, the recoverable amount calculated based on value in use exceeded carrying value by &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$108&lt;/div&gt; million as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019. &lt;/div&gt;The following changes in key assumptions, at CGU OCTG &amp;#x2013; USA, assuming unchanged values for the other assumptions, would cause the recoverable amount to be equal to the respective carrying value as of the impairment tests:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 76%; border: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Increase in the discount rate&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;95 Bps&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease of the growth rate&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-1.6 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease of the cash flow projections&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-15.3 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;No&lt;/div&gt; impairment charge was recorded in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;H&lt;/div&gt; &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;div style="display: inline; font-weight: bold;"&gt;Other investments&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other investments consist primarily of investments in financial instruments and time deposits with a maturity of more than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; months at the date of purchase.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Certain non-derivative financial assets that the Company held &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; for trading have been categorized as financial assets &amp;#x201c;at fair value through other comprehensive income&amp;#x201d; (&amp;#x201c;FVOCI&amp;#x201d;). They are carried at fair value and interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold. Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income Statement. FVOCI instruments with maturities greater than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; months after the balance sheet date are included in non-current assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other investments in financial instruments and time deposits are categorized as financial assets &amp;#x201c;at fair value through profit or loss&amp;#x201d; because such investments are held for trading and their performance is evaluated on a fair value basis. The results of these investments are recognized in &lt;div style="display: inline; font-style: italic;"&gt;Financial Results&lt;/div&gt; in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Purchases and sales of financial investments are recognized as of their settlement date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair values of quoted investments are generally based on current bid prices. If the market for a financial investment is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; active or the securities are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; listed, Tenaris estimates the fair value by using standard valuation techniques. See Section III Financial Risk Management.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 121 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;I&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Inventories&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Inventories are stated at the lower between cost and net realizable value. The cost of finished goods and goods in process is comprised of raw materials, direct labor, utilities, freights and other direct costs and related production overhead costs, and it excludes borrowing costs. The allocation of fixed production costs, including depreciation and amortization charges, is based on the normal level of production capacity. Inventories cost is mainly based on the FIFO method. Tenaris estimates net realizable value of inventories by grouping, where applicable, similar or related items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated costs of completion and selling expenses. Goods in transit as of year-end are valued based on the supplier&amp;#x2019;s invoice cost.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris establishes an allowance for obsolete or slow-moving inventories related to finished goods, goods in process, supplies and spare parts. For slow moving or obsolete finished products, an allowance is established based on management&amp;#x2019;s analysis of product aging. An allowance for obsolete and slow-moving inventory of supplies and spare parts is established based on management's analysis of such items to be used as intended and the consideration of potential obsolescence due to technological changes, aging and consumption patterns.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;J&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Trade and other receivables&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Trade and other receivables are recognized initially at fair value that corresponds to the amount of consideration that is unconditional unless they contain significant financing components. The Company holds trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. Due to the short-term nature, their carrying amount is considered to be the same as their fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris applies the IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt; &amp;#x201c;Financial Instruments&amp;#x201d; simplified approach to measure expected credit losses, which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The expected loss rates are based on the payment profiles of sales over a period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; years and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle the receivables.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;K&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Cash and cash equivalents&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cash and cash equivalents are comprised of cash at banks, liquidity funds and short-term investments with a maturity of less than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; months at the date of purchase which are readily convertible to known amounts of cash. Assets recorded in cash and cash equivalents are carried at fair market value or at historical cost which approximates fair market value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In the Consolidated Statement of Financial Position, bank overdrafts are included in &lt;div style="display: inline; font-style: italic;"&gt;Borrowings&lt;/div&gt; in current liabilities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For the purposes of the Consolidated Statement of Cash Flows, &lt;div style="display: inline; font-style: italic;"&gt;Cash and cash equivalents&lt;/div&gt; includes overdrafts.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;L&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Equity&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Equity components&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Consolidated Statement of Changes in Equity includes:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;The value of share capital, legal reserve, share premium and other distributable reserves calculated in accordance with Luxembourg law;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;The currency translation adjustment, other reserves, retained earnings and non-controlling interest calculated in accordance with IFRS.&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Share capital&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company has an authorized share capital of a single class of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2.5&lt;/div&gt; billion shares having a nominal value of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.00&lt;/div&gt; per share. Total ordinary shares issued and outstanding as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,180,536,830&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/div&gt;with a par value of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1.00&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; per share with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; &lt;/div&gt;&lt;/div&gt;vote each. All issued shares are fully paid.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 122 --&gt;   &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Dividends distributions are recorded in the Company&amp;#x2019;s financial statements when Company&amp;#x2019;s shareholders have the right to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with the by-laws of the Company.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Dividends &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be paid by the Company to the extent that it has distributable retained earnings, calculated in accordance with Luxembourg law. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25&lt;/div&gt; (iii).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;M&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Borrowings&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Borrowings are recognized initially at fair value net of transaction costs incurred and subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;N&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Current and Deferred income tax&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The income tax expense or credit for the period is the tax payable on the current period&amp;#x2019;s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. Tax is recognized in the Consolidated Income Statement, except for tax items recognized in other comprehensive income or directly in equity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the reporting date in the countries where the Company&amp;#x2019;s subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions when appropriate.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred income tax is recognized applying the liability method on temporary differences arising between the tax basis of assets and liabilities and their carrying amounts in the financial statements. The principal temporary differences arise from the effect of currency translation on depreciable fixed assets and inventories, depreciation on property, plant and equipment, valuation of inventories, provisions for pension plans and fair value adjustments of assets acquired in business combinations. Deferred tax assets are also recognized for net operating loss carry-forwards. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the time period when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted at the reporting date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets are recognized to the extent that it is probable that future taxable income will be available against which the temporary differences can be utilized. At the end of each reporting period, Tenaris reassesses unrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax asset to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax liabilities and assets are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; recognized for temporary differences between the carrying amount and tax basis of investments in foreign operations where the company is able to control the timing of the reversal of the temporary differences and it is probable that the differences will &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; reverse in the foreseeable future.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets and liabilities are re-measured if tax rates change. These amounts are charged or credited to the Consolidated Income Statement or to the item &lt;div style="display: inline; font-style: italic;"&gt;Other comprehensive income for the year &lt;/div&gt;in the Consolidated Statement of Comprehensive Income, depending on the account to which the original amount was charged or credited.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 123 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;O&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Employee benefits&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Short-term obligations&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Liabilities for wages and salaries are recognized in respect of employees&amp;#x2019; services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Post employment benefits&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt; font-style: italic; text-align: justify; text-indent: -22.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company has defined benefit and defined contribution plans. A defined benefit plan is a pension plan that defines an amount of pension benefit that an employee will receive on retirement, usually dependent on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; or more factors such as age, years of service and compensation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets, if any. The defined benefit obligation is calculated annually (at year end) by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in &lt;div style="display: inline; font-style: italic;"&gt;Other comprehensive income&lt;/div&gt; in the period in which they arise. Past-service costs are recognized immediately in the Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For defined benefit plans, net interest income/expense is calculated based on the surplus or deficit derived by the difference between the defined benefit obligations less fair value of plan assets. For defined contribution plans, the Company pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Company has &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; further payment obligations once the contributions have been paid. The contributions are recognized as employee benefit expenses when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris sponsors funded and unfunded defined benefit pension plans in certain subsidiaries. The most significant are:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;An unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed to provide certain benefits to those officers (additional to those contemplated under applicable labor laws) in case of termination of the employment relationship due to certain specified events, including retirement. This unfunded plan provides defined benefits based on years of service and final average salary. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the outstanding liability for this plan amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$45.3&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Employees&amp;#x2019; service rescission indemnity: the cost of this obligation is charged to the Consolidated Income Statement over the expected service lives of employees. This provision is primarily related to the liability accrued for employees at Tenaris&amp;#x2019;s Italian subsidiary. As from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2007 &lt;/div&gt;as a consequence of a change in an Italian law, employees were entitled to make contributions to external funds, thus, Tenaris&amp;#x2019;s Italian subsidiary pays every year the required contribution to the funds with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; further obligation. As a result, the plan changed from a defined benefit plan to a defined contribution plan effective from that date, but only limited to the contributions of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2007&lt;/div&gt; onwards. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the outstanding liability for this plan amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$17.3&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Funded retirement benefit plans held in Canada for salary and hourly employees hired prior to a certain date based on years of service and, in the case of salaried employees, final average salary. Plan assets consist primarily of investments in equities and money market funds. Both plans were replaced for defined contribution plans. Effective &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 2016 &lt;/div&gt;the salary plan was frozen for the purposes of credited service as well as determination of final average pay. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the outstanding liability for this plan amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$9.8&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 17.85pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Funded retirement benefit plan held in the US for the benefit of some employees hired prior a certain date, frozen for the purposes of credited service as well as determination of final average pay for the retirement benefit calculation. Plan assets consist primarily of investments in equities and money market funds. Additionally, an unfunded postretirement health and life plan is present that offers limited medical and life insurance benefits to the retirees, hired before a certain date. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;the outstanding liability for these plans amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$13.4&lt;/div&gt; million.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 124 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Other long term benefits&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;During &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2007,&lt;/div&gt; Tenaris launched an employee retention and long term incentive program (the &amp;#x201c;Program&amp;#x201d;) applicable to certain senior officers and employees of the Company, who will be granted a number of Units throughout the duration of the Program. The value of each of these Units is based on Tenaris&amp;#x2019;s shareholders&amp;#x2019; equity (excluding non-controlling interest). Also, the beneficiaries of the Program are entitled to receive cash amounts based on (i) the amount of dividend payments made by Tenaris to its shareholders, and (ii) the number of Units held by each beneficiary to the Program. Until &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2017&lt;/div&gt; units were vested ratably over a period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;four&lt;/div&gt; years and were mandatorily redeemed by the Company &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;ten&lt;/div&gt; years after grant date, with the option of an early redemption at &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;seven&lt;/div&gt; years after the grant date. Since &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018&lt;/div&gt; units are vested ratably over the same period and are mandatorily redeemed by the Company &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;seven&lt;/div&gt; years after grant date. The payment of the benefit is tied to the book value of the shares, and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; to their market value. Tenaris valued this long-term incentive program as a long term benefit plan as classified in IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,&lt;/div&gt; &amp;#x201c;Employee Benefits&amp;#x201d;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; the outstanding liability corresponding to the Program amounts to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$99.0&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$91.2&lt;/div&gt; million, respectively. The total value of the units granted (vested and unvested) to date under the program, considering the number of units and the book value per share as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2018,&lt;/div&gt; is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$119.9&lt;/div&gt; million and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$106&lt;/div&gt; million, respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;Termination benefits&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Termination benefits are payable when employment is terminated by Tenaris before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. Tenaris recognizes termination benefits at the earlier of the following dates: (a) when it can &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; longer withdraw the offer of those benefits; and (b) when the costs for a restructuring that is within the scope of IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;37&lt;/div&gt; and involves the payment of terminations benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5&lt;/div&gt;)&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Other compensation obligations&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Employee entitlements to annual leave, long-service leave, sick leave and other bonuses and compensations obligations are accrued as earned.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 66.55pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Compensation to employees in the event of dismissal is charged to income in the year in which it becomes payable.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;P&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Provisions&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris is subject to various claims, lawsuits and other legal proceedings, including customer claims, in which a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt; party is seeking payment for alleged damages, reimbursement for losses or indemnity. Tenaris&amp;#x2019;s potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management periodically reviews the status of each significant matter and assesses potential financial exposure. If, as a result of past events, a potential loss from a claim or proceeding is considered probable and the amount can be reliably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements, and take into consideration Tenaris&amp;#x2019;s litigation and settlement strategies. These estimates are primarily constructed with the assistance of legal counsel. As the scope of liabilities become better defined, there &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be changes in the estimates of future costs which could have a material adverse effect on its results of operations, financial condition and cash flows.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If Tenaris expects to be reimbursed for an accrued expense, as would be the case for an expense or loss covered under an insurance contract, and reimbursement is considered virtually certain, the expected reimbursement is recognized as a receivable.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;This note should be read in conjunction with Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Q &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Trade and other payables&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Trade and other payables are recognized initially at fair value, generally the nominal invoice amount and subsequently measured at amortized cost. They are presented as current liabilities unless payment is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; due within &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;twelve&lt;/div&gt; months after the reporting period. Due to the short-term nature their carrying amounts are considered to be the same as their fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 125 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;R&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Revenue recognition&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Revenue comprises the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of Tenaris&amp;#x2019;s activities. The revenue recognized by the Company is measured at the transaction price of the consideration received or receivable to which the Company is entitled to, reduced by estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value to be realized and after eliminating sales within the group.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Revenue is recognized at a point in time or over time from sales when control has been transferred and there is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; unfulfilled performance obligation that could affect the acceptance of the product by the customer. The control is transferred upon delivery. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred and either the customer has accepted the product in accordance with the sales contract, the acceptance provisions have lapsed or the Company has objective evidence that all criteria for acceptance have been satisfied, including all performance obligations. These conditions are determined and analyzed on a contract by contract basis to ensure that all performance obligations are fulfilled; in particular, Tenaris verifies customer acceptance of the goods, the satisfaction of delivery terms and any other applicable condition.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal; color: black"&gt;For bill and hold transactions&lt;/div&gt; &lt;div style="display: inline; font-weight: normal"&gt;revenue is recognized only to the extent that (a) the reason for the bill and hold arrangement must be substantive (for example, the customer has requested the arrangement); (b) the products have been specifically identified and are ready for delivery; (c) the Company does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; have the ability to use the product or to direct it to another customer; (d) the usual payment terms apply.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company&amp;#x2019;s contracts with customers do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; provide any material variable consideration, other than discounts, rebates and right of return. Discounts and rebates are recognized based on the most likely value and rights of return are based on expected value considering past experience and contract conditions.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: normal"&gt;Where the contracts include multiple performance obligations, the transaction price is allocated to each performance obligation based on the stand-alone selling prices. Where these are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; directly observable, they are estimated based on the expected cost plus margin.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; judgements applied by management that significantly affect the determination of timing of satisfaction of performance obligations, nor the transaction price and amounts allocated to different performance obligations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris provides services related to goods sold, which represent a non-material portion of sales revenue and include:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Pipe Management Services. &lt;/div&gt;This comprises mainly preparation of the pipes ready to be run, delivery to the customer, storage services and rig return.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Field Services. &lt;/div&gt;Comprises&amp;nbsp;field technical support and running assistance.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;These services are rendered in connection to the sales of goods and are attached to contracts with customers for the sale of goods. A significant portion of service revenue is recognized in the same period as the goods sold. There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; distinct uncertainties in the revenues and cash flows of the goods sold and services rendered as they are included in the same contract, have the same counterparty and are subject to the same conditions.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Revenue from providing services is recognized over time in the accounting period in which the services are rendered. The following inputs and outputs methods are applied to recognize revenue considering the nature of service:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Storage services&lt;/div&gt;, the Company provides storage services in owned or &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt;-party warehouses, subject to a variable fee to be invoiced. This fee is determined based on the time that the customer maintains the material in the warehouse and the amount of the material stored. In the majority of cases, to quantify the amount to be invoiced in any given month, the monthly average fee of storage per ton is multiplied by the monthly average stock stored (in tons).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Freights, &lt;/div&gt;the Company recognized the revenue on a pro rata bases considering the units delivered and time elapsed.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Field services&lt;/div&gt;, the revenue is recognized considering outputs method, in particular surveys of service completion provided by the customer.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 126 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;one&lt;/div&gt; year. As a consequence, considering that the contracts do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; include any significant financing component, the Company does &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; adjust any of the transaction prices for the time value of money. For this reason, the Company is also applying the practical expedient &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; to disclose details on transaction prices allocated to the remaining performance obligations as of the end of the reporting period.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris only provides standard quality warranties assuring that the goods sold will function as expected or are fit for their intended purpose, with &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; incremental service to the customer. Accordingly, warranties do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; constitute a separate performance obligation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Other revenues earned by Tenaris are recognized on the following basis:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Interest income: on the effective yield basis.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Dividend income from investments in other companies: when Tenaris&amp;#x2019;s right to receive payment is established.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Construction contracts revenues is recognized in accordance with the stage of the project completion.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0"&gt;S&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Cost of sales and other selling expenses&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cost of sales and other selling expenses are recognized in the Consolidated Income Statement on the accrual basis of accounting.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Commissions, freights and other selling expenses, including shipping and handling costs, are recorded in &lt;div style="display: inline; font-style: italic;"&gt;Selling, general and administrative expenses &lt;/div&gt;in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0"&gt;T&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Earnings per share&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Earnings per share are calculated by dividing the income attributable to owners of the parent by the daily weighted average number of common shares outstanding during the year.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; dilutive potential ordinary shares.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0"&gt;U&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Financial instruments&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non derivative financial instruments comprise investments in financial debt instruments and equity, time deposits, trade and other receivables, cash and cash equivalents, borrowings and trade and other payables.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company classifies its financial instruments according to the following measurement categories:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;those to be measured subsequently at fair value (either through OCI or through profit or loss), and&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;those to be measured at amortised cost&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The classification depends on the Company&amp;#x2019;s business model for managing the financial assets and contractual terms of the cash flows.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial assets are recognized on their settlement date. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expenses in profit or loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Subsequent measurement of debt instruments depends on the Company&amp;#x2019;s business model for managing the asset and the cash flow characteristics of the asset. There are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;three&lt;/div&gt; measurement categories into which the Company classifies its debt instruments:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 127 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Amortized Cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Fair value through other comprehensive income: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets&amp;#x2019; cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Fair value through profit and loss (&amp;#x201c;FVPL&amp;#x201d;): Assets that do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; meet the criteria for amortized cost or FVOCI. Changes in fair value of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For equity instruments, these are subsequently measured at fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Accounting for derivative financial instruments and hedging activities is included within the Section III, Financial Risk Management.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0"&gt;V&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Non-current assets held for sale and discontinued operations&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits and financial assets that are carried at fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;An impairment loss is recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. A gain is recognized for any subsequent increase in fair value less costs to sell of an asset (or disposal group), but &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; in excess of any cumulative impairment loss previously recognized.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-current assets (including those that are part of a disposal group) are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; depreciated or amortized while they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue to be recognized.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the balance sheet.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A discontinued operation is a component of the entity that has been disposed of or is classified as held for sale and that represents a separate line of business or geographical area of operations, is part of a single coordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operations are presented separately in the Consolidated Income Statement. See Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory>
  <ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523790">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Current tax assets and liabilities&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current tax assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;V.A.T. credits&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;112,161&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;67,322&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Prepaid taxes&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,227&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,010&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;167,388&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;121,332&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current tax liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Income tax liabilities&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;64,994&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;182,711&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;V.A.T. liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,953&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,091&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other taxes&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,678&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49,431&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;127,625&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;250,233&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory>
  <ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523793">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Trade receivables, net&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Current accounts&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,387,494&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,778,796&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Receivables from related parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,448&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,105&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,396,942&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,803,901&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Allowance for doubtful accounts (see Note 23 (i))&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(48,782&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(66,535&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The following table sets forth details of the aging of trade receivables:&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Past due&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: center; font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Trade Receivables&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Not Due&lt;/div&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;1 - 180 days&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;gt;180 days&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 44%; font-size: 10pt"&gt;Guaranteed&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;234,427&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;205,764&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;26,899&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,764&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Not guaranteed&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,162,515&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;948,449&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;157,960&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;56,106&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Guaranteed and not guaranteed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,396,942&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,154,213&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;184,859&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;57,870&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected loss rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.09&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.04&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.24&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.57&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,294&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(529&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(455&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(310&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Nominative allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(47,488&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,922&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(45,566&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Net Value&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,153,684&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;182,482&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,994&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Past due&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Trade Receivables&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Not Due&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;1 - 180 days&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;gt;180 days&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 44%; font-size: 10pt"&gt;Guaranteed&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;286,250&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;254,743&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,884&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;623&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Not guaranteed&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,517,651&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,180,788&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;260,675&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;76,188&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Guaranteed and not guaranteed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,803,901&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,435,531&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;291,559&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;76,811&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected loss rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.07&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.04&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.17&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.43&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,396&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(564&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(510&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(322&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Nominative allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(65,139&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,436&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(63,703&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Net Value&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,434,967&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;289,613&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,786&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Trade receivables are mainly denominated in &lt;div style="display: inline; color: black"&gt;U.S. dollars.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory>
  <ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory contextRef="d_2019-01-01_2019-12-31" id="c-61">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Transactions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;(a) Sales of goods and services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 5%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 59%; font-size: 10pt; text-align: left"&gt;Sales of goods to non-consolidated parties&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,577&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,709&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32,362&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales of goods to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;69,972&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;131,548&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;94,624&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales of services to non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,620&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,641&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Sales of services to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,386&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,647&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,751&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100,555&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;168,545&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;142,374&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;(b) Purchases of goods and services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchases of goods to non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;174,588&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;245,186&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;234,361&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchases of goods to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51,765&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;106,624&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,711&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchases of services to non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,404&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,556&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,077&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Purchases of services to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,514&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46,179&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;50,794&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;290,271&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;407,545&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;314,943&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;At December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Period-end balances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;(a) Arising from sales / purchases of goods / services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 5%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 71%; font-size: 10pt; text-align: left"&gt;Receivables from non-consolidated parties&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;78,884&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;122,136&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivables from other related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,419&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Payables to non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(19,100&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(33,197&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Payables to other related parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,048&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,595&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;95,763&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;(b) Financial debt&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Finance lease liabilities from non-consolidated parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,064&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,064&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808622" unitRef="iso4217-usd">35000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808623" unitRef="iso4217-usd">27153000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808624" unitRef="iso4217-usd">7110000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808625" unitRef="iso4217-usd">2120000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808626" unitRef="iso4217-usd">2557000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808627" unitRef="iso4217-usd">38975000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808665" unitRef="iso4217-usd">73000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808666" unitRef="iso4217-usd">25580000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808667" unitRef="iso4217-usd">5889000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808668" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808669" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808670" unitRef="iso4217-usd">31542000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808702" unitRef="iso4217-usd">221000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808703" unitRef="iso4217-usd">21836000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808704" unitRef="iso4217-usd">10269000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808705" unitRef="iso4217-usd">42000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808706" unitRef="iso4217-usd">3541000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808707" unitRef="iso4217-usd">35909000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808745" unitRef="iso4217-usd">53000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808746" unitRef="iso4217-usd">21232000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808747" unitRef="iso4217-usd">8682000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808748" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808749" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808750" unitRef="iso4217-usd">29967000</ifrs-full:DisposalsAndRetirementsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808794" unitRef="iso4217-usd">5062000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808795" unitRef="iso4217-usd">1531000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808796" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808797" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808798" unitRef="iso4217-usd">6593000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808820" unitRef="iso4217-usd">4850000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808821" unitRef="iso4217-usd">413000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808822" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808823" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808824" unitRef="iso4217-usd">5263000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808856" unitRef="iso4217-usd">56000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808857" unitRef="iso4217-usd">1482000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808858" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808859" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808860" unitRef="iso4217-usd">1538000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808882" unitRef="iso4217-usd">46000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" id="c59808883" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808884" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808885" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808886" unitRef="iso4217-usd">46000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
  <ifrs-full:DividendsPaid contextRef="d_2019-11-20_2019-11-20" decimals="-6" id="c59808567" unitRef="iso4217-usd">153000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2019-05-22_2019-05-22" decimals="-6" id="c59808574" unitRef="iso4217-usd">484000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2018-05-23_2018-05-23" decimals="-6" id="c59808581" unitRef="iso4217-usd">484000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2017-05-24_2017-05-24" decimals="-6" id="c59808588" unitRef="iso4217-usd">484000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807040" unitRef="iso4217-usd">484020000</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
  <ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807041" unitRef="iso4217-usd">484020000</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
  <ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807042" unitRef="iso4217-usd">484020000</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2018-11-21_2018-11-21" decimals="INF" id="c59808570" unitRef="iso4217-usd-per-xbrli-shares">0.13</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2019-05-22_2019-05-22" decimals="INF" id="c59808572" unitRef="iso4217-usd-per-xbrli-shares">0.28</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2017-11-22_2017-11-22" decimals="INF" id="c59808577" unitRef="iso4217-usd-per-xbrli-shares">0.13</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2018-05-23_2018-05-23" decimals="INF" id="c59808579" unitRef="iso4217-usd-per-xbrli-shares">0.28</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2016-11-23_2016-11-23" decimals="INF" id="c59808584" unitRef="iso4217-usd-per-xbrli-shares">0.13</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2017-05-24_2017-05-24" decimals="INF" id="c59808586" unitRef="iso4217-usd-per-xbrli-shares">0.28</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807044" unitRef="iso4217-usd">1872000</ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities>
  <ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807045" unitRef="iso4217-usd">3498000</ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities>
  <ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807046" unitRef="iso4217-usd">24000000</ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities>
  <ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumAndUsiminasMember" decimals="-3" id="c59809019" unitRef="iso4217-usd">29000</ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities>
  <ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807027" unitRef="iso4217-usd">28974000</ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities>
  <ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807028" unitRef="iso4217-usd">25722000</ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities>
  <ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807029" unitRef="iso4217-usd">22971000</ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="d_2019-10-30_2019-10-30" decimals="INF" id="c59808565" unitRef="iso4217-usd-per-xbrli-shares">0.13</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
  <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807077" unitRef="iso4217-usd">6231000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
  <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807078" unitRef="iso4217-usd">12841000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
  <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807079" unitRef="iso4217-usd">-5834000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
  <ifrs-full:EmployeeBenefitsExpense contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808395" unitRef="iso4217-usd">1352115000</ifrs-full:EmployeeBenefitsExpense>
  <ifrs-full:EmployeeBenefitsExpense contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808396" unitRef="iso4217-usd">1325968000</ifrs-full:EmployeeBenefitsExpense>
  <ifrs-full:EmployeeBenefitsExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808397" unitRef="iso4217-usd">1220893000</ifrs-full:EmployeeBenefitsExpense>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" decimals="-3" id="c59806551" unitRef="iso4217-usd">1180537000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" decimals="-3" id="c59806552" unitRef="iso4217-usd">118054000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" decimals="-3" id="c59806553" unitRef="iso4217-usd">609733000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806554" unitRef="iso4217-usd">-919248000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806555" unitRef="iso4217-usd">-322310000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806556" unitRef="iso4217-usd">11116116000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806557" unitRef="iso4217-usd">11782882000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806558" unitRef="iso4217-usd">92610000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31" decimals="-3" id="c59806559" unitRef="iso4217-usd">11875492000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" decimals="-3" id="c59806641" unitRef="iso4217-usd">1180537000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" decimals="-3" id="c59806642" unitRef="iso4217-usd">118054000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" decimals="-3" id="c59806643" unitRef="iso4217-usd">609733000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806644" unitRef="iso4217-usd">-957246000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806645" unitRef="iso4217-usd">-336902000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806646" unitRef="iso4217-usd">11374782000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806647" unitRef="iso4217-usd">11988958000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806648" unitRef="iso4217-usd">197414000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2019-12-31" decimals="-3" id="c59806649" unitRef="iso4217-usd">12186372000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" decimals="-3" id="c59806677" unitRef="iso4217-usd">1180537000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" decimals="-3" id="c59806678" unitRef="iso4217-usd">118054000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" decimals="-3" id="c59806679" unitRef="iso4217-usd">609733000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806680" unitRef="iso4217-usd">-824423000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806681" unitRef="iso4217-usd">-320569000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806682" unitRef="iso4217-usd">10718853000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806683" unitRef="iso4217-usd">11482185000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806684" unitRef="iso4217-usd">98785000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2017-12-31" decimals="-3" id="c59806685" unitRef="iso4217-usd">11580970000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember" decimals="-3" id="c59806785" unitRef="iso4217-usd">1180537000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember" decimals="-3" id="c59806786" unitRef="iso4217-usd">118054000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember" decimals="-3" id="c59806787" unitRef="iso4217-usd">609733000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember" decimals="-3" id="c59806788" unitRef="iso4217-usd">-919248000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember" decimals="-3" id="c59806789" unitRef="iso4217-usd">-322310000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember" decimals="-3" id="c59806790" unitRef="iso4217-usd">11116116000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember" decimals="-3" id="c59806791" unitRef="iso4217-usd">11782882000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember" decimals="-3" id="c59806792" unitRef="iso4217-usd">92610000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2018-12-31_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember" decimals="-3" id="c59806793" unitRef="iso4217-usd">11875492000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2016-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" decimals="-3" id="c59806821" unitRef="iso4217-usd">1180537000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2016-12-31_ComponentsOfEquityAxis-LegalReservesMember" decimals="-3" id="c59806822" unitRef="iso4217-usd">118054000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2016-12-31_ComponentsOfEquityAxis-SharePremiumMember" decimals="-3" id="c59806823" unitRef="iso4217-usd">609733000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2016-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806824" unitRef="iso4217-usd">-965955000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2016-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806825" unitRef="iso4217-usd">-313088000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2016-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806826" unitRef="iso4217-usd">10658136000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2016-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806827" unitRef="iso4217-usd">11287417000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2016-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806828" unitRef="iso4217-usd">125655000</ifrs-full:Equity>
  <ifrs-full:Equity contextRef="i_2016-12-31" decimals="-3" id="c59806829" unitRef="iso4217-usd">11413072000</ifrs-full:Equity>
  <ifrs-full:EquityAndLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59806548" unitRef="iso4217-usd">14842991000</ifrs-full:EquityAndLiabilities>
  <ifrs-full:EquityAndLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59806550" unitRef="iso4217-usd">14251299000</ifrs-full:EquityAndLiabilities>
  <ifrs-full:EquityAttributableToOwnersOfParent contextRef="i_2019-12-31" decimals="-3" id="c59806460" unitRef="iso4217-usd">11988958000</ifrs-full:EquityAttributableToOwnersOfParent>
  <ifrs-full:EquityAttributableToOwnersOfParent contextRef="i_2018-12-31" decimals="-3" id="c59806462" unitRef="iso4217-usd">11782882000</ifrs-full:EquityAttributableToOwnersOfParent>
  <ifrs-full:EstimateOfContributionsExpectedToBePaidToPlan contextRef="d_2019-01-01_2019-12-31" decimals="-5" id="c59809987" unitRef="iso4217-usd">5100000</ifrs-full:EstimateOfContributionsExpectedToBePaidToPlan>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-LegalProceedingsContingentLiabilityMember_CounterpartiesAxis-TribunalDeContasDaUniaoMember" decimals="-5" id="c59810381" unitRef="iso4217-brl">29800000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-LegalProceedingsContingentLiabilityMember_CounterpartiesAxis-TribunalDeContasDaUniaoMember" decimals="-5" id="c59810382" unitRef="iso4217-usd">7400000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityMember_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="-5" id="c59810389" unitRef="iso4217-brl">56800000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityMember_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="-5" id="c59810390" unitRef="iso4217-usd">14100000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2014Member_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810395" unitRef="iso4217-eur">25000000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2014Member_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810396" unitRef="iso4217-usd">28000000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810397" unitRef="iso4217-eur">20700000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810398" unitRef="iso4217-usd">23200000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810399" unitRef="iso4217-eur">4300000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810400" unitRef="iso4217-usd">4800000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2015Member_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810403" unitRef="iso4217-eur">10300000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2015Member_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810404" unitRef="iso4217-usd">11600000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810405" unitRef="iso4217-eur">8100000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810406" unitRef="iso4217-usd">9100000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810407" unitRef="iso4217-eur">2200000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:EstimatedFinancialEffectOfContingentLiabilities contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="-5" id="c59810408" unitRef="iso4217-usd">2500000</ifrs-full:EstimatedFinancialEffectOfContingentLiabilities>
  <ifrs-full:ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed contextRef="d_2019-01-01_2019-12-31" decimals="-5" id="c59808949" unitRef="iso4217-usd">1300000</ifrs-full:ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed>
  <ifrs-full:ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed contextRef="d_2019-01-01_2019-12-31" decimals="-5" id="c59808948" unitRef="iso4217-usd">15100000</ifrs-full:ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed>
  <ifrs-full:FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809025" unitRef="iso4217-usd">505400000</ifrs-full:FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished>
  <ifrs-full:FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809037" unitRef="iso4217-usd">92000000</ifrs-full:FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished>
  <ifrs-full:FinanceCosts contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806244" unitRef="iso4217-usd">43381000</ifrs-full:FinanceCosts>
  <ifrs-full:FinanceCosts contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806245" unitRef="iso4217-usd">36942000</ifrs-full:FinanceCosts>
  <ifrs-full:FinanceCosts contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806246" unitRef="iso4217-usd">27072000</ifrs-full:FinanceCosts>
  <ifrs-full:FinanceIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806240" unitRef="iso4217-usd">47997000</ifrs-full:FinanceIncome>
  <ifrs-full:FinanceIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806241" unitRef="iso4217-usd">39856000</ifrs-full:FinanceIncome>
  <ifrs-full:FinanceIncome contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806242" unitRef="iso4217-usd">47605000</ifrs-full:FinanceIncome>
  <ifrs-full:FinanceIncomeCost contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" id="c59808000" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinanceIncomeCost contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808001" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinanceIncomeCost contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808002" unitRef="iso4217-usd">19000000</ifrs-full:FinanceIncomeCost>
  <ifrs-full:FinanceIncomeCost contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808003" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinanceIncomeCost contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" id="c59808048" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinanceIncomeCost contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808049" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinanceIncomeCost contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808050" unitRef="iso4217-usd">37000000</ifrs-full:FinanceIncomeCost>
  <ifrs-full:FinanceIncomeCost contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808051" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinanceIncomeCost contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" id="c59808100" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinanceIncomeCost contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808101" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinanceIncomeCost contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808102" unitRef="iso4217-usd">-23000000</ifrs-full:FinanceIncomeCost>
  <ifrs-full:FinanceIncomeCost contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808103" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinanceIncomeCost contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808512" unitRef="iso4217-usd">19283000</ifrs-full:FinanceIncomeCost>
  <ifrs-full:FinanceIncomeCost contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808513" unitRef="iso4217-usd">37300000</ifrs-full:FinanceIncomeCost>
  <ifrs-full:FinanceIncomeCost contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808514" unitRef="iso4217-usd">-23017000</ifrs-full:FinanceIncomeCost>
  <ifrs-full:FinancialAssets contextRef="i_2019-12-31" id="c59807711" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinancialAssets contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807712" unitRef="iso4217-usd">1894875000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" decimals="-3" id="c59807713" unitRef="iso4217-usd">211173000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-3" id="c59807714" unitRef="iso4217-usd">1193548000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807715" unitRef="iso4217-usd">1319699000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807716" unitRef="iso4217-usd">29441000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807717" unitRef="iso4217-usd">55581000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2018-12-31" id="c59807888" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinancialAssets contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807889" unitRef="iso4217-usd">2445413000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" decimals="-3" id="c59807890" unitRef="iso4217-usd">328635000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-3" id="c59807891" unitRef="iso4217-usd">194927000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807892" unitRef="iso4217-usd">442193000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807893" unitRef="iso4217-usd">28384000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807894" unitRef="iso4217-usd">52985000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialLiabilities contextRef="i_2019-12-31" id="c59807747" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinancialLiabilities contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807748" unitRef="iso4217-usd">1608206000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807749" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinancialLiabilities contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-3" id="c59807750" unitRef="iso4217-usd">1814000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807751" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinancialLiabilities contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807752" unitRef="iso4217-usd">1814000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807753" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinancialLiabilities contextRef="i_2018-12-31" id="c59807917" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinancialLiabilities contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807918" unitRef="iso4217-usd">1232680000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807919" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinancialLiabilities contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-3" id="c59807920" unitRef="iso4217-usd">11978000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807921" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinancialLiabilities contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807922" unitRef="iso4217-usd">11978000</ifrs-full:FinancialLiabilities>
  <ifrs-full:FinancialLiabilities contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807923" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:FinishedGoods contextRef="i_2019-12-31" decimals="-3" id="c59809156" unitRef="iso4217-usd">968329000</ifrs-full:FinishedGoods>
  <ifrs-full:FinishedGoods contextRef="i_2018-12-31" decimals="-3" id="c59809157" unitRef="iso4217-usd">1025999000</ifrs-full:FinishedGoods>
  <ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness contextRef="d_2018-01-01_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810321" unitRef="iso4217-usd">-676000</ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness>
  <ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness contextRef="d_2019-01-01_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810323" unitRef="iso4217-usd">3507000</ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness>
  <ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness contextRef="d_2018-01-01_2018-12-31_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810326" unitRef="iso4217-usd">-676000</ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness>
  <ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness contextRef="d_2019-01-01_2019-12-31_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810328" unitRef="iso4217-usd">3507000</ifrs-full:GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness>
  <ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810024" unitRef="iso4217-usd">-7010000</ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset>
  <ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810025" unitRef="iso4217-usd">3946000</ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset>
  <ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810048" unitRef="iso4217-usd">-12769000</ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset>
  <ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810049" unitRef="iso4217-usd">7984000</ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset>
  <ifrs-full:GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation contextRef="d_2017-01-20_2017-01-20" decimals="-5" id="c59810533" unitRef="iso4217-usd">89700000</ifrs-full:GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation>
  <ifrs-full:GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810548" unitRef="iso4217-usd">89694000</ifrs-full:GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation>
  <ifrs-full:GeneralAndAdministrativeExpense contextRef="d_2019-01-01_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-5" id="c59810923" unitRef="iso4217-usd">9700000</ifrs-full:GeneralAndAdministrativeExpense>
  <ifrs-full:GeneralAndAdministrativeExpense contextRef="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-AcquisitionOfIPSCOMember" decimals="-5" id="c59810924" unitRef="iso4217-usd">9400000</ifrs-full:GeneralAndAdministrativeExpense>
  <ifrs-full:GeneralAndAdministrativeExpense contextRef="d_2020-01-02_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-5" id="c59810925" unitRef="iso4217-usd">300000</ifrs-full:GeneralAndAdministrativeExpense>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-5" id="c59808764" unitRef="iso4217-usd">1168400000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-5" id="c59808765" unitRef="iso4217-usd">116200000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_GeographicalAreasAxis-Europe1Member" decimals="-5" id="c59808766" unitRef="iso4217-usd">1900000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-5" id="c59808767" unitRef="iso4217-usd">33700000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808897" unitRef="iso4217-usd">225000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember_SegmentsAxis-TubesMember" id="c59808898" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember_SegmentsAxis-TubesMember" id="c59808899" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember_SegmentsAxis-AllOtherSegmentsMember" id="c59808900" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember" decimals="-6" id="c59808901" unitRef="iso4217-usd">225000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember_SegmentsAxis-TubesMember" id="c59808902" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808903" unitRef="iso4217-usd">346000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808904" unitRef="iso4217-usd">19000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember_SegmentsAxis-AllOtherSegmentsMember" id="c59808905" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember" decimals="-6" id="c59808906" unitRef="iso4217-usd">365000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember_SegmentsAxis-TubesMember" id="c59808907" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808908" unitRef="iso4217-usd">265000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808909" unitRef="iso4217-usd">93000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember_SegmentsAxis-AllOtherSegmentsMember" id="c59808910" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember" decimals="-6" id="c59808911" unitRef="iso4217-usd">358000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember_SegmentsAxis-TubesMember" id="c59808912" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808913" unitRef="iso4217-usd">309000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember_SegmentsAxis-TubesMember" id="c59808914" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember_SegmentsAxis-AllOtherSegmentsMember" id="c59808915" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember" decimals="-6" id="c59808916" unitRef="iso4217-usd">309000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember_SegmentsAxis-TubesMember" id="c59808917" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember_SegmentsAxis-TubesMember" id="c59808918" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember_SegmentsAxis-TubesMember" id="c59808919" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember_SegmentsAxis-AllOtherSegmentsMember" id="c59808920" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember" id="c59808921" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember_SegmentsAxis-TubesMember" id="c59808922" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember_SegmentsAxis-TubesMember" id="c59808923" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember_SegmentsAxis-TubesMember" id="c59808924" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember_SegmentsAxis-AllOtherSegmentsMember" decimals="-6" id="c59808925" unitRef="iso4217-usd">4000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember" decimals="-6" id="c59808926" unitRef="iso4217-usd">4000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember_SegmentsAxis-TubesMember" id="c59808927" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember_SegmentsAxis-TubesMember" id="c59808928" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808929" unitRef="iso4217-usd">59000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember_SegmentsAxis-AllOtherSegmentsMember" id="c59808930" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember" decimals="-6" id="c59808931" unitRef="iso4217-usd">59000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808932" unitRef="iso4217-usd">225000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808933" unitRef="iso4217-usd">920000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_SegmentsAxis-TubesMember" decimals="-6" id="c59808934" unitRef="iso4217-usd">171000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_SegmentsAxis-AllOtherSegmentsMember" decimals="-6" id="c59808935" unitRef="iso4217-usd">4000000</ifrs-full:Goodwill>
  <ifrs-full:Goodwill contextRef="i_2019-12-31" decimals="-6" id="c59808936" unitRef="iso4217-usd">1320000000</ifrs-full:Goodwill>
  <ifrs-full:GoodwillRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-5" id="c59810449" unitRef="iso4217-usd">32900000</ifrs-full:GoodwillRecognisedAsOfAcquisitionDate>
  <ifrs-full:GoodwillRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-5" id="c59810919" unitRef="iso4217-usd">357000000</ifrs-full:GoodwillRecognisedAsOfAcquisitionDate>
  <ifrs-full:GrossProfit contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806220" unitRef="iso4217-usd">2186560000</ifrs-full:GrossProfit>
  <ifrs-full:GrossProfit contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806221" unitRef="iso4217-usd">2379288000</ifrs-full:GrossProfit>
  <ifrs-full:GrossProfit contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806222" unitRef="iso4217-usd">1603447000</ifrs-full:GrossProfit>
  <ifrs-full:GrossProfit contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809110" unitRef="iso4217-usd">1740378000</ifrs-full:GrossProfit>
  <ifrs-full:GrossProfit contextRef="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809111" unitRef="iso4217-usd">2971479000</ifrs-full:GrossProfit>
  <ifrs-full:GrossProfit contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809132" unitRef="iso4217-usd">478141000</ifrs-full:GrossProfit>
  <ifrs-full:GrossProfit contextRef="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809133" unitRef="iso4217-usd">612156000</ifrs-full:GrossProfit>
  <ifrs-full:GrossProfit contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" decimals="-3" id="c59810550" unitRef="iso4217-usd">4496000</ifrs-full:GrossProfit>
  <ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810952" unitRef="iso4217-usd">710000000</ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed>
  <ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810474" unitRef="iso4217-sar">853000000</ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed>
  <ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810475" unitRef="iso4217-usd">228000000</ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed>
  <ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810944" unitRef="iso4217-usd">170000000</ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate>
  <ifrs-full:ImpairmentLoss contextRef="d_2020-03-31_2020-03-31_NonadjustingEventsAfterReportingPeriodAxis-ImpairmentOfAssetsMember" decimals="-5" id="c59810932" unitRef="iso4217-usd">622000000</ifrs-full:ImpairmentLoss>
  <ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810540" unitRef="iso4217-usd">1848000</ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent>
  <ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" decimals="-3" id="c59810551" unitRef="iso4217-usd">1848000</ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent>
  <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806264" unitRef="iso4217-usd">202452000</ifrs-full:IncomeTaxExpenseContinuingOperations>
  <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806265" unitRef="iso4217-usd">229207000</ifrs-full:IncomeTaxExpenseContinuingOperations>
  <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806266" unitRef="iso4217-usd">-17136000</ifrs-full:IncomeTaxExpenseContinuingOperations>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" id="c59809551" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" id="c59809552" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809553" unitRef="iso4217-usd">423000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809554" unitRef="iso4217-usd">423000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" id="c59809663" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" id="c59809664" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809665" unitRef="iso4217-usd">288000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809666" unitRef="iso4217-usd">288000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" id="c59809775" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" id="c59809776" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" id="c59809777" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809778" unitRef="iso4217-usd">-1261000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809779" unitRef="iso4217-usd">-1261000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809888" unitRef="iso4217-usd">23000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" id="c59809889" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" id="c59809890" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809891" unitRef="iso4217-usd">1587000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809892" unitRef="iso4217-usd">1610000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809947" unitRef="iso4217-usd">-838000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59809948" unitRef="iso4217-usd">1898000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806326" unitRef="iso4217-usd">707000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806327" unitRef="iso4217-usd">-34000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806328" unitRef="iso4217-usd">-23000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806343" unitRef="iso4217-usd">-1545000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806344" unitRef="iso4217-usd">1932000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss>
  <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806345" unitRef="iso4217-usd">-1338000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss>
  <ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808549" unitRef="iso4217-usd">53296000</ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808550" unitRef="iso4217-usd">77552000</ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808551" unitRef="iso4217-usd">-922000</ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome>
  <ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810502" unitRef="iso4217-usd">395869000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
  <ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810503" unitRef="iso4217-usd">170713000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
  <ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810504" unitRef="iso4217-usd">176853000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807081" unitRef="iso4217-usd">1133789000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807082" unitRef="iso4217-usd">109468000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807083" unitRef="iso4217-usd">-74324000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807068" unitRef="iso4217-usd">1133789000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807069" unitRef="iso4217-usd">109468000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807070" unitRef="iso4217-usd">-74324000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges>
  <ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810554" unitRef="iso4217-usd">-18614000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations>
  <ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfDiscountRatesMember_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-5" id="c59809962" unitRef="iso4217-usd">-7000000</ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption>
  <ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-5" id="c59809965" unitRef="iso4217-usd">-4500000</ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption>
  <ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfDiscountRatesMember_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-5" id="c59809982" unitRef="iso4217-usd">-19800000</ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption>
  <ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-5" id="c59809985" unitRef="iso4217-usd">-1600000</ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption>
  <ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfDiscountRatesMember_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-5" id="c59809961" unitRef="iso4217-usd">7400000</ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption>
  <ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-5" id="c59809964" unitRef="iso4217-usd">4500000</ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption>
  <ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfDiscountRatesMember_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-5" id="c59809981" unitRef="iso4217-usd">16100000</ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption>
  <ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-5" id="c59809984" unitRef="iso4217-usd">1800000</ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption>
  <ifrs-full:IncreaseDecreaseInFairValueMeasurementAssets contextRef="d_2019-01-01_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807926" unitRef="iso4217-usd">2933000</ifrs-full:IncreaseDecreaseInFairValueMeasurementAssets>
  <ifrs-full:IncreaseDecreaseInFairValueMeasurementAssets contextRef="d_2018-01-01_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807927" unitRef="iso4217-usd">26768000</ifrs-full:IncreaseDecreaseInFairValueMeasurementAssets>
  <ifrs-full:IncreaseDecreaseInWorkingCapital contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806978" unitRef="iso4217-usd">-523109000</ifrs-full:IncreaseDecreaseInWorkingCapital>
  <ifrs-full:IncreaseDecreaseInWorkingCapital contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806979" unitRef="iso4217-usd">737952000</ifrs-full:IncreaseDecreaseInWorkingCapital>
  <ifrs-full:IncreaseDecreaseInWorkingCapital contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806980" unitRef="iso4217-usd">853184000</ifrs-full:IncreaseDecreaseInWorkingCapital>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810026" unitRef="iso4217-usd">15660000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" id="c59810027" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" decimals="-3" id="c59809533" unitRef="iso4217-usd">5621000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" id="c59809534" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809535" unitRef="iso4217-usd">11209000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809536" unitRef="iso4217-usd">16830000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809757" unitRef="iso4217-usd">-1160000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" decimals="-3" id="c59809758" unitRef="iso4217-usd">-1413000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" decimals="-3" id="c59809759" unitRef="iso4217-usd">-1172000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809760" unitRef="iso4217-usd">-2238000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809761" unitRef="iso4217-usd">-5983000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809945" unitRef="iso4217-usd">10847000</ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31" id="c59809946" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810018" unitRef="iso4217-usd">-1567000</ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810019" unitRef="iso4217-usd">-3849000</ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810042" unitRef="iso4217-usd">4542000</ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810043" unitRef="iso4217-usd">-8182000</ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810096" unitRef="iso4217-usd">4137000</ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810097" unitRef="iso4217-usd">-7514000</ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806623" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806624" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806625" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806626" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806627" unitRef="iso4217-usd">1000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806628" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806629" unitRef="iso4217-usd">1000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806630" unitRef="iso4217-usd">117984000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806631" unitRef="iso4217-usd">117985000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806767" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806768" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806769" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806770" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806771" unitRef="iso4217-usd">-2000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806772" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806773" unitRef="iso4217-usd">-2000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806774" unitRef="iso4217-usd">-22000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806775" unitRef="iso4217-usd">-24000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806893" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806894" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806895" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806896" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806897" unitRef="iso4217-usd">-4743000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806898" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806899" unitRef="iso4217-usd">-4743000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806900" unitRef="iso4217-usd">4694000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806901" unitRef="iso4217-usd">-49000</ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" decimals="-3" id="c59809515" unitRef="iso4217-usd">-347000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" id="c59809516" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809517" unitRef="iso4217-usd">-4000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809518" unitRef="iso4217-usd">-351000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" decimals="-3" id="c59809645" unitRef="iso4217-usd">-876000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" id="c59809646" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809647" unitRef="iso4217-usd">92000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809648" unitRef="iso4217-usd">-784000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809739" unitRef="iso4217-usd">362000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" decimals="-3" id="c59809740" unitRef="iso4217-usd">306000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" decimals="-3" id="c59809741" unitRef="iso4217-usd">497000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809742" unitRef="iso4217-usd">286000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809743" unitRef="iso4217-usd">1451000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809870" unitRef="iso4217-usd">2532000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" decimals="-3" id="c59809871" unitRef="iso4217-usd">1447000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" decimals="-3" id="c59809872" unitRef="iso4217-usd">1014000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809873" unitRef="iso4217-usd">-38000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809874" unitRef="iso4217-usd">4955000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809943" unitRef="iso4217-usd">1100000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59809944" unitRef="iso4217-usd">4171000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808774" unitRef="iso4217-usd">-1917000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808775" unitRef="iso4217-usd">-70000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808776" unitRef="iso4217-usd">-968000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808777" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808778" unitRef="iso4217-usd">-2955000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808810" unitRef="iso4217-usd">-1734000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" id="c59808811" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808812" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808813" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808814" unitRef="iso4217-usd">-1734000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808841" unitRef="iso4217-usd">-6153000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808842" unitRef="iso4217-usd">-183000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808843" unitRef="iso4217-usd">-4137000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808844" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808845" unitRef="iso4217-usd">-10473000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808872" unitRef="iso4217-usd">-5551000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" id="c59808873" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808874" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808875" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808876" unitRef="iso4217-usd">-5551000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810187" unitRef="iso4217-usd">-28000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810188" unitRef="iso4217-usd">-570000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810189" unitRef="iso4217-usd">-598000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810208" unitRef="iso4217-usd">-103000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810209" unitRef="iso4217-usd">-2205000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810210" unitRef="iso4217-usd">-2308000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810133" unitRef="iso4217-usd">-1571000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810134" unitRef="iso4217-usd">-5261000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810151" unitRef="iso4217-usd">-9000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" decimals="-3" id="c59810152" unitRef="iso4217-usd">-88000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810153" unitRef="iso4217-usd">-794000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810172" unitRef="iso4217-usd">-329000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" decimals="-3" id="c59810173" unitRef="iso4217-usd">-359000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810174" unitRef="iso4217-usd">-3575000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember" id="c59810125" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember" decimals="-3" id="c59810126" unitRef="iso4217-usd">-110000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808604" unitRef="iso4217-usd">-1611000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808605" unitRef="iso4217-usd">-38961000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808606" unitRef="iso4217-usd">-1615000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808607" unitRef="iso4217-usd">-864000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808608" unitRef="iso4217-usd">-256000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808609" unitRef="iso4217-usd">-43307000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808647" unitRef="iso4217-usd">-420000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808648" unitRef="iso4217-usd">-24973000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808649" unitRef="iso4217-usd">-1485000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808650" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808651" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808652" unitRef="iso4217-usd">-26878000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808690" unitRef="iso4217-usd">-5628000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808691" unitRef="iso4217-usd">-117977000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808692" unitRef="iso4217-usd">-5458000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808693" unitRef="iso4217-usd">-2269000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808694" unitRef="iso4217-usd">-424000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808695" unitRef="iso4217-usd">-131756000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808727" unitRef="iso4217-usd">-1383000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808728" unitRef="iso4217-usd">-72141000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808729" unitRef="iso4217-usd">-4939000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808730" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808731" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808732" unitRef="iso4217-usd">-78463000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810030" unitRef="iso4217-usd">2976000</ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810031" unitRef="iso4217-usd">473000</ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810106" unitRef="iso4217-usd">270000</ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810107" unitRef="iso4217-usd">364000</ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808789" unitRef="iso4217-usd">-4665000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" id="c59808790" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808791" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808792" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808793" unitRef="iso4217-usd">-4665000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808851" unitRef="iso4217-usd">-5493000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" id="c59808852" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" id="c59808853" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59808854" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808855" unitRef="iso4217-usd">-5493000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-SalesRisksMember" id="c59810196" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810197" unitRef="iso4217-usd">-5641000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810198" unitRef="iso4217-usd">-5641000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-SalesRisksMember" id="c59810214" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810215" unitRef="iso4217-usd">2406000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810216" unitRef="iso4217-usd">2406000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810137" unitRef="iso4217-usd">5641000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810138" unitRef="iso4217-usd">-2406000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808628" unitRef="iso4217-usd">8723000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808629" unitRef="iso4217-usd">296272000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808630" unitRef="iso4217-usd">28349000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808631" unitRef="iso4217-usd">-317128000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808632" unitRef="iso4217-usd">-11984000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808633" unitRef="iso4217-usd">4232000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808659" unitRef="iso4217-usd">-362000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808660" unitRef="iso4217-usd">-38000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" id="c59808661" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808662" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808663" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808664" unitRef="iso4217-usd">-400000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808708" unitRef="iso4217-usd">25643000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808709" unitRef="iso4217-usd">306116000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808710" unitRef="iso4217-usd">21200000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808711" unitRef="iso4217-usd">-331553000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808712" unitRef="iso4217-usd">3993000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808713" unitRef="iso4217-usd">25399000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" id="c59808739" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808740" unitRef="iso4217-usd">173000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808741" unitRef="iso4217-usd">-671000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808742" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808743" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808744" unitRef="iso4217-usd">-498000</ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-TrademarksMember" decimals="-3" id="c59807244" unitRef="iso4217-usd">86700000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-TrademarksMember" decimals="-3" id="c59807397" unitRef="iso4217-usd">86700000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-TrademarksMember" decimals="-3" id="c59807398" unitRef="iso4217-usd">86700000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808769" unitRef="iso4217-usd">580622000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808770" unitRef="iso4217-usd">464571000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808771" unitRef="iso4217-usd">2085936000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808772" unitRef="iso4217-usd">2058859000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808773" unitRef="iso4217-usd">5189988000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808799" unitRef="iso4217-usd">604870000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808800" unitRef="iso4217-usd">463742000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808801" unitRef="iso4217-usd">2117837000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808802" unitRef="iso4217-usd">2140051000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808803" unitRef="iso4217-usd">5326500000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808805" unitRef="iso4217-usd">513984000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808806" unitRef="iso4217-usd">373466000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808807" unitRef="iso4217-usd">797592000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808808" unitRef="iso4217-usd">2038981000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808809" unitRef="iso4217-usd">3724023000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808825" unitRef="iso4217-usd">536337000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808826" unitRef="iso4217-usd">373772000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808827" unitRef="iso4217-usd">797592000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808828" unitRef="iso4217-usd">2057240000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808829" unitRef="iso4217-usd">3764941000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808830" unitRef="iso4217-usd">68533000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808831" unitRef="iso4217-usd">89970000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808832" unitRef="iso4217-usd">1320245000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808833" unitRef="iso4217-usd">82811000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2019-12-31" decimals="-3" id="c59808834" unitRef="iso4217-usd">1561559000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808836" unitRef="iso4217-usd">560692000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808837" unitRef="iso4217-usd">465963000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808838" unitRef="iso4217-usd">2090073000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808839" unitRef="iso4217-usd">2058859000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808840" unitRef="iso4217-usd">5175587000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808867" unitRef="iso4217-usd">478946000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808868" unitRef="iso4217-usd">372746000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808869" unitRef="iso4217-usd">797592000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808870" unitRef="iso4217-usd">1865444000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808871" unitRef="iso4217-usd">3514728000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember" decimals="-3" id="c59808892" unitRef="iso4217-usd">66638000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember" decimals="-3" id="c59808893" unitRef="iso4217-usd">91105000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember" decimals="-3" id="c59808894" unitRef="iso4217-usd">1288344000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59808895" unitRef="iso4217-usd">19878000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:IntangibleAssetsAndGoodwill contextRef="i_2018-12-31" decimals="-3" id="c59808896" unitRef="iso4217-usd">1465965000</ifrs-full:IntangibleAssetsAndGoodwill>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810022" unitRef="iso4217-usd">5526000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810023" unitRef="iso4217-usd">5070000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810046" unitRef="iso4217-usd">5754000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810047" unitRef="iso4217-usd">5691000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810509" unitRef="iso4217-usd">4616000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810510" unitRef="iso4217-usd">2914000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810511" unitRef="iso4217-usd">20534000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810515" unitRef="iso4217-usd">30655000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
  <ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810516" unitRef="iso4217-usd">31548000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
  <ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810517" unitRef="iso4217-usd">17917000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
  <ifrs-full:InterestPayable contextRef="i_2019-12-31_MaturityAxis-NotLaterThanOneYearMember" decimals="-3" id="c59809345" unitRef="iso4217-usd">11370000</ifrs-full:InterestPayable>
  <ifrs-full:InterestPayable contextRef="i_2019-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember" decimals="-3" id="c59809346" unitRef="iso4217-usd">1045000</ifrs-full:InterestPayable>
  <ifrs-full:InterestPayable contextRef="i_2019-12-31_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember" decimals="-3" id="c59809347" unitRef="iso4217-usd">117000</ifrs-full:InterestPayable>
  <ifrs-full:InterestPayable contextRef="i_2019-12-31_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember" id="c59809348" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:InterestPayable contextRef="i_2019-12-31_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember" id="c59809349" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:InterestPayable contextRef="i_2019-12-31_MaturityAxis-LaterThanFiveYearsMember" id="c59809350" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:InterestPayable contextRef="i_2019-12-31" decimals="-3" id="c59809351" unitRef="iso4217-usd">12532000</ifrs-full:InterestPayable>
  <ifrs-full:InterestPayable contextRef="i_2018-12-31_MaturityAxis-NotLaterThanOneYearMember" decimals="-3" id="c59809381" unitRef="iso4217-usd">8182000</ifrs-full:InterestPayable>
  <ifrs-full:InterestPayable contextRef="i_2018-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember" decimals="-3" id="c59809382" unitRef="iso4217-usd">1175000</ifrs-full:InterestPayable>
  <ifrs-full:InterestPayable contextRef="i_2018-12-31_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember" decimals="-3" id="c59809383" unitRef="iso4217-usd">1166000</ifrs-full:InterestPayable>
  <ifrs-full:InterestPayable contextRef="i_2018-12-31_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember" decimals="-3" id="c59809384" unitRef="iso4217-usd">169000</ifrs-full:InterestPayable>
  <ifrs-full:InterestPayable contextRef="i_2018-12-31_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember" id="c59809385" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:InterestPayable contextRef="i_2018-12-31_MaturityAxis-LaterThanFiveYearsMember" id="c59809386" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:InterestPayable contextRef="i_2018-12-31" decimals="-3" id="c59809387" unitRef="iso4217-usd">10692000</ifrs-full:InterestPayable>
  <ifrs-full:InterestReceivable contextRef="i_2019-12-31_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-TavsaAndComsiguaMember" decimals="-5" id="c59810861" unitRef="iso4217-usd">118000000</ifrs-full:InterestReceivable>
  <ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810512" unitRef="iso4217-usd">30890000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
  <ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810513" unitRef="iso4217-usd">40613000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
  <ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810514" unitRef="iso4217-usd">50001000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
  <ifrs-full:InterestRevenueExpense contextRef="d_2019-01-01_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-5" id="c59808474" unitRef="iso4217-usd">7600000</ifrs-full:InterestRevenueExpense>
  <ifrs-full:InterestRevenueExpense contextRef="d_2018-01-01_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-5" id="c59808475" unitRef="iso4217-usd">3600000</ifrs-full:InterestRevenueExpense>
  <ifrs-full:InterestRevenueExpense contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806966" unitRef="iso4217-usd">4381000</ifrs-full:InterestRevenueExpense>
  <ifrs-full:InterestRevenueExpense contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806967" unitRef="iso4217-usd">-6151000</ifrs-full:InterestRevenueExpense>
  <ifrs-full:InterestRevenueExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806968" unitRef="iso4217-usd">-11550000</ifrs-full:InterestRevenueExpense>
  <ifrs-full:Inventories contextRef="i_2019-12-31" decimals="-3" id="c59809170" unitRef="iso4217-usd">2265880000</ifrs-full:Inventories>
  <ifrs-full:Inventories contextRef="i_2018-12-31" decimals="-3" id="c59809171" unitRef="iso4217-usd">2524341000</ifrs-full:Inventories>
  <ifrs-full:Inventories contextRef="i_2019-01-01" decimals="-3" id="c59808284" unitRef="iso4217-usd">2524341000</ifrs-full:Inventories>
  <ifrs-full:Inventories contextRef="i_2018-01-01" decimals="-3" id="c59808285" unitRef="iso4217-usd">2368304000</ifrs-full:Inventories>
  <ifrs-full:Inventories contextRef="i_2017-01-01" decimals="-3" id="c59808286" unitRef="iso4217-usd">1563889000</ifrs-full:Inventories>
  <ifrs-full:InvestmentsInJointVentures contextRef="i_2019-02-05_JointVenturesAxis-WeldedPipePlantInWestSiberiaMember" decimals="-5" id="c59810437" unitRef="iso4217-usd">280000000</ifrs-full:InvestmentsInJointVentures>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809026" unitRef="iso4217-usd">751100000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809038" unitRef="iso4217-usd">74600000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2018-12-31" decimals="-3" id="c59809058" unitRef="iso4217-usd">805568000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2017-12-31" decimals="-3" id="c59809059" unitRef="iso4217-usd">640294000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2019-12-31" decimals="-3" id="c59809072" unitRef="iso4217-usd">879965000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2019-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809077" unitRef="iso4217-usd">751105000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2018-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809078" unitRef="iso4217-usd">725548000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2019-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809082" unitRef="iso4217-usd">74593000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2018-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809083" unitRef="iso4217-usd">72988000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-OtherMember" decimals="-3" id="c59809087" unitRef="iso4217-usd">54267000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-OtherMember" decimals="-3" id="c59809088" unitRef="iso4217-usd">7032000</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="d_2019-01-01_2019-12-31" decimals="-5" id="c59810587" unitRef="iso4217-usd">4800000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="d_2018-01-01_2018-12-31" decimals="-5" id="c59810588" unitRef="iso4217-usd">5600000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c59810589" unitRef="iso4217-usd">4700000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="d_2019-01-01_2019-12-31" decimals="-5" id="c59810581" unitRef="iso4217-usd">33700000</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="d_2018-01-01_2018-12-31" decimals="-5" id="c59810582" unitRef="iso4217-usd">33700000</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c59810583" unitRef="iso4217-usd">45800000</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:LeaseLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59807733" unitRef="iso4217-usd">230167000</ifrs-full:LeaseLiabilities>
  <ifrs-full:LeaseLiabilities contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807734" unitRef="iso4217-usd">230167000</ifrs-full:LeaseLiabilities>
  <ifrs-full:LeaseLiabilities contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807735" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:LeaseLiabilities contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807736" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:LeaseLiabilities contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807737" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:LeaseLiabilities contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807738" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:LeaseLiabilities contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807739" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:LeaseLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59809009" unitRef="iso4217-usd">234149000</ifrs-full:LeaseLiabilities>
  <ifrs-full:Liabilities contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809104" unitRef="iso4217-usd">5220660000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809105" unitRef="iso4217-usd">5063286000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809126" unitRef="iso4217-usd">2672325000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809127" unitRef="iso4217-usd">2794069000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities contextRef="i_2019-12-31" decimals="-3" id="c59806543" unitRef="iso4217-usd">2656619000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities contextRef="i_2018-12-31" decimals="-3" id="c59806545" unitRef="iso4217-usd">2375807000</ifrs-full:Liabilities>
  <ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale contextRef="i_2017-01-19_ContinuingAndDiscontinuedOperationsAxis-DisposalGroupsClassifiedAsHeldForSaleMember" decimals="-3" id="c59810563" unitRef="iso4217-usd">18850000</ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" decimals="-3" id="c59807331" unitRef="iso4217-usd">45300000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_GeographicalAreasAxis-Canada1Member" decimals="-3" id="c59807335" unitRef="iso4217-usd">9800000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2019-12-31_GeographicalAreasAxis-US" decimals="-3" id="c59807336" unitRef="iso4217-usd">13400000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2019-12-31" decimals="-3" id="c59807351" unitRef="iso4217-usd">99000000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2018-12-31" decimals="-3" id="c59807352" unitRef="iso4217-usd">91200000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810016" unitRef="iso4217-usd">97318000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2017-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810017" unitRef="iso4217-usd">101889000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810032" unitRef="iso4217-usd">125573000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810040" unitRef="iso4217-usd">146885000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2017-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810041" unitRef="iso4217-usd">165485000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810052" unitRef="iso4217-usd">160412000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810094" unitRef="iso4217-usd">-132438000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2017-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810095" unitRef="iso4217-usd">-145692000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810108" unitRef="iso4217-usd">-145160000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <ifrs-full:LoansAndReceivables contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" decimals="-3" id="c59809050" unitRef="iso4217-usd">58100000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LongtermBorrowings contextRef="i_2018-12-31" decimals="-3" id="c59809455" unitRef="iso4217-usd">29187000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LongtermBorrowings contextRef="i_2019-12-31" decimals="-3" id="c59809469" unitRef="iso4217-usd">40880000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LongtermBorrowings contextRef="i_2019-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809408" unitRef="iso4217-usd">18370000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LongtermBorrowings contextRef="i_2018-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809409" unitRef="iso4217-usd">18762000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LongtermBorrowings contextRef="i_2019-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809411" unitRef="iso4217-usd">16106000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LongtermBorrowings contextRef="i_2018-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FixedInterestRateMember" id="c59809412" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:LongtermBorrowings contextRef="i_2019-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809414" unitRef="iso4217-usd">5108000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LongtermBorrowings contextRef="i_2018-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59809415" unitRef="iso4217-usd">9023000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LongtermBorrowings contextRef="i_2019-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59809417" unitRef="iso4217-usd">1296000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LongtermBorrowings contextRef="i_2018-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="-3" id="c59809418" unitRef="iso4217-usd">1402000</ifrs-full:LongtermBorrowings>
  <ifrs-full:LossesOnDisposalsOfPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31" id="c59808456" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:LossesOnDisposalsOfPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31" id="c59808457" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:LossesOnDisposalsOfPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808458" unitRef="iso4217-usd">118000</ifrs-full:LossesOnDisposalsOfPropertyPlantAndEquipment>
  <ifrs-full:MiscellaneousOtherOperatingIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808443" unitRef="iso4217-usd">8025000</ifrs-full:MiscellaneousOtherOperatingIncome>
  <ifrs-full:MiscellaneousOtherOperatingIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808444" unitRef="iso4217-usd">6546000</ifrs-full:MiscellaneousOtherOperatingIncome>
  <ifrs-full:MiscellaneousOtherOperatingIncome contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808445" unitRef="iso4217-usd">1796000</ifrs-full:MiscellaneousOtherOperatingIncome>
  <ifrs-full:NoncontrollingInterests contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809106" unitRef="iso4217-usd">1103208000</ifrs-full:NoncontrollingInterests>
  <ifrs-full:NoncontrollingInterests contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809107" unitRef="iso4217-usd">1091321000</ifrs-full:NoncontrollingInterests>
  <ifrs-full:NoncontrollingInterests contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809128" unitRef="iso4217-usd">377667000</ifrs-full:NoncontrollingInterests>
  <ifrs-full:NoncontrollingInterests contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809129" unitRef="iso4217-usd">369333000</ifrs-full:NoncontrollingInterests>
  <ifrs-full:NoncontrollingInterests contextRef="i_2019-12-31" decimals="-3" id="c59806465" unitRef="iso4217-usd">197414000</ifrs-full:NoncontrollingInterests>
  <ifrs-full:NoncontrollingInterests contextRef="i_2018-12-31" decimals="-3" id="c59806467" unitRef="iso4217-usd">92610000</ifrs-full:NoncontrollingInterests>
  <ifrs-full:NoncurrentAssets contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809094" unitRef="iso4217-usd">8757320000</ifrs-full:NoncurrentAssets>
  <ifrs-full:NoncurrentAssets contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809095" unitRef="iso4217-usd">8121824000</ifrs-full:NoncurrentAssets>
  <ifrs-full:NoncurrentAssets contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809116" unitRef="iso4217-usd">4335662000</ifrs-full:NoncurrentAssets>
  <ifrs-full:NoncurrentAssets contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809117" unitRef="iso4217-usd">4696896000</ifrs-full:NoncurrentAssets>
  <ifrs-full:NoncurrentAssets contextRef="i_2017-01-19_ContinuingAndDiscontinuedOperationsAxis-DisposalGroupsClassifiedAsHeldForSaleMember" decimals="-3" id="c59810558" unitRef="iso4217-usd">87332000</ifrs-full:NoncurrentAssets>
  <ifrs-full:NoncurrentAssets contextRef="i_2019-12-31" decimals="-3" id="c59806413" unitRef="iso4217-usd">9172384000</ifrs-full:NoncurrentAssets>
  <ifrs-full:NoncurrentAssets contextRef="i_2018-12-31" decimals="-3" id="c59806415" unitRef="iso4217-usd">8787107000</ifrs-full:NoncurrentAssets>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners contextRef="i_2017-01-19_ContinuingAndDiscontinuedOperationsAxis-DisposalGroupsClassifiedAsHeldForSaleMember" decimals="-3" id="c59810560" unitRef="iso4217-usd">156664000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners>
  <ifrs-full:NoncurrentDerivativeFinancialAssets contextRef="i_2018-12-31" decimals="-3" id="c59810226" unitRef="iso4217-usd">52000</ifrs-full:NoncurrentDerivativeFinancialAssets>
  <ifrs-full:NoncurrentDerivativeFinancialAssets contextRef="i_2019-12-31" id="c59809147" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentFinancialAssetsAvailableforsale contextRef="i_2017-12-31" decimals="-5" id="c59807947" unitRef="iso4217-usd">21600000</ifrs-full:NoncurrentFinancialAssetsAvailableforsale>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31" decimals="-3" id="c59807662" unitRef="iso4217-usd">24934000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" id="c59807663" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" decimals="-3" id="c59807664" unitRef="iso4217-usd">18012000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-3" id="c59807665" unitRef="iso4217-usd">6922000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807666" unitRef="iso4217-usd">18012000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807667" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807668" unitRef="iso4217-usd">6922000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" decimals="-3" id="c59807669" unitRef="iso4217-usd">18012000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" id="c59807670" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" decimals="-3" id="c59807671" unitRef="iso4217-usd">18012000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" id="c59807672" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807673" unitRef="iso4217-usd">18012000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807674" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807675" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member" decimals="-3" id="c59807676" unitRef="iso4217-usd">6922000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member" id="c59807677" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member" id="c59807678" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member" decimals="-3" id="c59807679" unitRef="iso4217-usd">6922000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807680" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807681" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807682" unitRef="iso4217-usd">6922000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31" decimals="-3" id="c59807839" unitRef="iso4217-usd">118155000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" id="c59807840" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" decimals="-3" id="c59807841" unitRef="iso4217-usd">113830000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" decimals="-3" id="c59807842" unitRef="iso4217-usd">4326000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807843" unitRef="iso4217-usd">113830000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807844" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807845" unitRef="iso4217-usd">4326000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" decimals="-3" id="c59807846" unitRef="iso4217-usd">113829000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" id="c59807847" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" decimals="-3" id="c59807848" unitRef="iso4217-usd">113830000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember" id="c59807849" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-3" id="c59807850" unitRef="iso4217-usd">113830000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807851" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807852" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member" decimals="-3" id="c59807853" unitRef="iso4217-usd">4326000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member" id="c59807854" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member" id="c59807855" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member" decimals="-3" id="c59807856" unitRef="iso4217-usd">4326000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807857" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807858" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807859" unitRef="iso4217-usd">4326000</ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:NoncurrentLeaseLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59806481" unitRef="iso4217-usd">192318000</ifrs-full:NoncurrentLeaseLiabilities>
  <ifrs-full:NoncurrentLeaseLiabilities contextRef="i_2018-12-31" id="c59806483" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:NoncurrentLiabilities contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809100" unitRef="iso4217-usd">3452535000</ifrs-full:NoncurrentLiabilities>
  <ifrs-full:NoncurrentLiabilities contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809101" unitRef="iso4217-usd">3236756000</ifrs-full:NoncurrentLiabilities>
  <ifrs-full:NoncurrentLiabilities contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809122" unitRef="iso4217-usd">1955395000</ifrs-full:NoncurrentLiabilities>
  <ifrs-full:NoncurrentLiabilities contextRef="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809123" unitRef="iso4217-usd">1933207000</ifrs-full:NoncurrentLiabilities>
  <ifrs-full:NoncurrentLiabilities contextRef="i_2017-01-19_ContinuingAndDiscontinuedOperationsAxis-DisposalGroupsClassifiedAsHeldForSaleMember" decimals="-3" id="c59810561" unitRef="iso4217-usd">5294000</ifrs-full:NoncurrentLiabilities>
  <ifrs-full:NoncurrentLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59806497" unitRef="iso4217-usd">876162000</ifrs-full:NoncurrentLiabilities>
  <ifrs-full:NoncurrentLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59806499" unitRef="iso4217-usd">657444000</ifrs-full:NoncurrentLiabilities>
  <ifrs-full:NoncurrentPrepayments contextRef="i_2019-12-31" decimals="-3" id="c59809143" unitRef="iso4217-usd">12378000</ifrs-full:NoncurrentPrepayments>
  <ifrs-full:NoncurrentPrepayments contextRef="i_2018-12-31" decimals="-3" id="c59809144" unitRef="iso4217-usd">12446000</ifrs-full:NoncurrentPrepayments>
  <ifrs-full:NoncurrentProvisions contextRef="i_2019-12-31" decimals="-3" id="c59806496" unitRef="iso4217-usd">54599000</ifrs-full:NoncurrentProvisions>
  <ifrs-full:NoncurrentProvisions contextRef="i_2018-12-31" decimals="-3" id="c59806498" unitRef="iso4217-usd">36089000</ifrs-full:NoncurrentProvisions>
  <ifrs-full:NoncurrentReceivables contextRef="i_2019-12-31_CounterpartiesAxis-VE" decimals="-5" id="c59810864" unitRef="iso4217-usd">49000000</ifrs-full:NoncurrentReceivables>
  <ifrs-full:NoncurrentReceivables contextRef="i_2019-12-31" decimals="-3" id="c59806412" unitRef="iso4217-usd">157103000</ifrs-full:NoncurrentReceivables>
  <ifrs-full:NoncurrentReceivables contextRef="i_2018-12-31" decimals="-3" id="c59806414" unitRef="iso4217-usd">151905000</ifrs-full:NoncurrentReceivables>
  <ifrs-full:NoncurrentReceivablesDueFromRelatedParties contextRef="i_2019-12-31" decimals="-3" id="c59809141" unitRef="iso4217-usd">59999000</ifrs-full:NoncurrentReceivablesDueFromRelatedParties>
  <ifrs-full:NoncurrentReceivablesDueFromRelatedParties contextRef="i_2018-12-31" decimals="-3" id="c59809142" unitRef="iso4217-usd">58128000</ifrs-full:NoncurrentReceivablesDueFromRelatedParties>
  <ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax contextRef="i_2019-12-31" decimals="-3" id="c59809139" unitRef="iso4217-usd">20065000</ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax>
  <ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax contextRef="i_2018-12-31" decimals="-3" id="c59809140" unitRef="iso4217-usd">16025000</ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-AR" decimals="INF" id="c59808398" unitRef="xbrli-pure">5405</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-AR" decimals="INF" id="c59808399" unitRef="xbrli-pure">5427</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-AR" decimals="INF" id="c59808400" unitRef="xbrli-pure">5221</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-MX" decimals="INF" id="c59808401" unitRef="xbrli-pure">5370</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-MX" decimals="INF" id="c59808402" unitRef="xbrli-pure">5595</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-MX" decimals="INF" id="c59808403" unitRef="xbrli-pure">5139</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-US" decimals="INF" id="c59808404" unitRef="xbrli-pure">2255</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-US" decimals="INF" id="c59808405" unitRef="xbrli-pure">2382</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-US" decimals="INF" id="c59808406" unitRef="xbrli-pure">1953</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-IT" decimals="INF" id="c59808407" unitRef="xbrli-pure">2144</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-IT" decimals="INF" id="c59808408" unitRef="xbrli-pure">2155</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-IT" decimals="INF" id="c59808409" unitRef="xbrli-pure">2088</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-RO" decimals="INF" id="c59808410" unitRef="xbrli-pure">1815</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-RO" decimals="INF" id="c59808411" unitRef="xbrli-pure">1852</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-RO" decimals="INF" id="c59808412" unitRef="xbrli-pure">1870</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-BR" decimals="INF" id="c59808413" unitRef="xbrli-pure">1360</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-BR" decimals="INF" id="c59808414" unitRef="xbrli-pure">1287</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-BR" decimals="INF" id="c59808415" unitRef="xbrli-pure">1382</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-CO" decimals="INF" id="c59808416" unitRef="xbrli-pure">1040</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-CO" decimals="INF" id="c59808417" unitRef="xbrli-pure">1082</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-CO" decimals="INF" id="c59808418" unitRef="xbrli-pure">1003</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-CA" decimals="INF" id="c59808419" unitRef="xbrli-pure">772</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-CA" decimals="INF" id="c59808420" unitRef="xbrli-pure">1030</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-CA" decimals="INF" id="c59808421" unitRef="xbrli-pure">919</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-ID" decimals="INF" id="c59808422" unitRef="xbrli-pure">616</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-ID" decimals="INF" id="c59808423" unitRef="xbrli-pure">554</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-ID" decimals="INF" id="c59808424" unitRef="xbrli-pure">506</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-JP" decimals="INF" id="c59808425" unitRef="xbrli-pure">400</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-JP" decimals="INF" id="c59808426" unitRef="xbrli-pure">399</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-JP" decimals="INF" id="c59808427" unitRef="xbrli-pure">410</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31_GeographicalAreasAxis-OtherGeographicalAreasMember" decimals="INF" id="c59808428" unitRef="xbrli-pure">2023</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31_GeographicalAreasAxis-OtherGeographicalAreasMember" decimals="INF" id="c59808429" unitRef="xbrli-pure">1204</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31_GeographicalAreasAxis-OtherGeographicalAreasMember" decimals="INF" id="c59808430" unitRef="xbrli-pure">1114</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2019-12-31" decimals="INF" id="c59808431" unitRef="xbrli-pure">23200</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2018-12-31" decimals="INF" id="c59808432" unitRef="xbrli-pure">22967</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfEmployees contextRef="i_2017-12-31" decimals="INF" id="c59808433" unitRef="xbrli-pure">21605</ifrs-full:NumberOfEmployees>
  <ifrs-full:NumberOfSharesAuthorised contextRef="i_2019-12-31" decimals="INF" id="c59806658" unitRef="xbrli-shares">2500000000</ifrs-full:NumberOfSharesAuthorised>
  <ifrs-full:NumberOfSharesAuthorised contextRef="i_2018-12-31" decimals="INF" id="c59806802" unitRef="xbrli-shares">2500000000</ifrs-full:NumberOfSharesAuthorised>
  <ifrs-full:NumberOfSharesAuthorised contextRef="i_2017-12-31" decimals="INF" id="c59806928" unitRef="xbrli-shares">2500000000</ifrs-full:NumberOfSharesAuthorised>
  <ifrs-full:NumberOfSharesIssued contextRef="i_2019-12-31" decimals="INF" id="c59806676" unitRef="xbrli-shares">1180536830</ifrs-full:NumberOfSharesIssued>
  <ifrs-full:NumberOfSharesIssued contextRef="i_2018-12-31" decimals="INF" id="c59806820" unitRef="xbrli-shares">1180536830</ifrs-full:NumberOfSharesIssued>
  <ifrs-full:NumberOfSharesIssued contextRef="i_2017-12-31" decimals="INF" id="c59806946" unitRef="xbrli-shares">1180536830</ifrs-full:NumberOfSharesIssued>
  <ifrs-full:NumberOfSharesIssued contextRef="i_2019-12-31_CategoriesOfRelatedPartiesAxis-SanFaustinSaMember" decimals="INF" id="c59810565" unitRef="xbrli-shares">713605187</ifrs-full:NumberOfSharesIssued>
  <ifrs-full:NumberOfSharesOutstanding contextRef="i_2019-12-31" decimals="INF" id="c59807402" unitRef="xbrli-shares">1180536830</ifrs-full:NumberOfSharesOutstanding>
  <ifrs-full:NumberOfSharesOutstanding contextRef="i_2018-12-31" decimals="INF" id="c59807403" unitRef="xbrli-shares">1180536830</ifrs-full:NumberOfSharesOutstanding>
  <ifrs-full:NumberOfSharesOutstanding contextRef="i_2017-12-31" decimals="INF" id="c59807404" unitRef="xbrli-shares">1180536830</ifrs-full:NumberOfSharesOutstanding>
  <ifrs-full:OtherAdjustmentsForNoncashItems contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806982" unitRef="iso4217-usd">11146000</ifrs-full:OtherAdjustmentsForNoncashItems>
  <ifrs-full:OtherAdjustmentsForNoncashItems contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806983" unitRef="iso4217-usd">-51758000</ifrs-full:OtherAdjustmentsForNoncashItems>
  <ifrs-full:OtherAdjustmentsForNoncashItems contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806984" unitRef="iso4217-usd">91648000</ifrs-full:OtherAdjustmentsForNoncashItems>
  <ifrs-full:OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities contextRef="d_2019-01-01_2019-12-31_JointVenturesAxis-WeldedPipePlantInWestSiberiaMember" decimals="-5" id="c59810439" unitRef="iso4217-usd">19600000</ifrs-full:OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806352" unitRef="iso4217-usd">-52536000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806353" unitRef="iso4217-usd">-99691000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806354" unitRef="iso4217-usd">139578000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806605" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806606" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806607" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806608" unitRef="iso4217-usd">-37998000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806609" unitRef="iso4217-usd">-14593000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806610" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806611" unitRef="iso4217-usd">-52591000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806612" unitRef="iso4217-usd">55000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806749" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806750" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806751" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806752" unitRef="iso4217-usd">-94825000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806753" unitRef="iso4217-usd">-4525000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806754" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806755" unitRef="iso4217-usd">-99350000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806756" unitRef="iso4217-usd">-341000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806875" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806876" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806877" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806878" unitRef="iso4217-usd">141532000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806879" unitRef="iso4217-usd">-2738000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806880" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806881" unitRef="iso4217-usd">138794000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806882" unitRef="iso4217-usd">784000</ifrs-full:OtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806323" unitRef="iso4217-usd">3039000</ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges>
  <ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806324" unitRef="iso4217-usd">-6701000</ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges>
  <ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806325" unitRef="iso4217-usd">4502000</ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges>
  <ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806320" unitRef="iso4217-usd">-27294000</ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806321" unitRef="iso4217-usd">-96916000</ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806322" unitRef="iso4217-usd">151762000</ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806340" unitRef="iso4217-usd">-9272000</ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806341" unitRef="iso4217-usd">7963000</ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806342" unitRef="iso4217-usd">-8635000</ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806569" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806570" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806571" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806572" unitRef="iso4217-usd">-27217000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" id="c59806573" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806574" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806575" unitRef="iso4217-usd">-27217000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806576" unitRef="iso4217-usd">-77000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806577" unitRef="iso4217-usd">-27294000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806713" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806714" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806715" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806716" unitRef="iso4217-usd">-96673000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" id="c59806717" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806718" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806719" unitRef="iso4217-usd">-96673000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806720" unitRef="iso4217-usd">-243000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806721" unitRef="iso4217-usd">-96916000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806839" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806840" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806841" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806842" unitRef="iso4217-usd">151080000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" id="c59806843" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806844" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806845" unitRef="iso4217-usd">151080000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806846" unitRef="iso4217-usd">682000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806847" unitRef="iso4217-usd">151762000</ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806587" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806588" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806589" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806590" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806591" unitRef="iso4217-usd">1605000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806592" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806593" unitRef="iso4217-usd">1605000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806594" unitRef="iso4217-usd">727000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806595" unitRef="iso4217-usd">2332000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806731" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806732" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806733" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806734" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806735" unitRef="iso4217-usd">-6673000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806736" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806737" unitRef="iso4217-usd">-6673000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806738" unitRef="iso4217-usd">6000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806739" unitRef="iso4217-usd">-6667000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806857" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806858" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806859" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806860" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806861" unitRef="iso4217-usd">4549000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806862" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806863" unitRef="iso4217-usd">4549000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806864" unitRef="iso4217-usd">-24000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806865" unitRef="iso4217-usd">4525000</ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806578" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806579" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806580" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806581" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806582" unitRef="iso4217-usd">-7132000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806583" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806584" unitRef="iso4217-usd">-7132000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806585" unitRef="iso4217-usd">-595000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806586" unitRef="iso4217-usd">-7727000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806722" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806723" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806724" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806725" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806726" unitRef="iso4217-usd">6135000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806727" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806728" unitRef="iso4217-usd">6135000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806729" unitRef="iso4217-usd">-104000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806730" unitRef="iso4217-usd">6031000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806848" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806849" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806850" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806851" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806852" unitRef="iso4217-usd">-7423000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806853" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806854" unitRef="iso4217-usd">-7423000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806855" unitRef="iso4217-usd">126000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806856" unitRef="iso4217-usd">-7297000</ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
  <ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806336" unitRef="iso4217-usd">-34931000</ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax>
  <ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806337" unitRef="iso4217-usd">-101867000</ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax>
  <ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806338" unitRef="iso4217-usd">147251000</ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax>
  <ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806349" unitRef="iso4217-usd">-17605000</ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax>
  <ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806350" unitRef="iso4217-usd">2176000</ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax>
  <ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806351" unitRef="iso4217-usd">-7673000</ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax>
  <ifrs-full:OtherCurrentLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59810120" unitRef="iso4217-usd">176264000</ifrs-full:OtherCurrentLiabilities>
  <ifrs-full:OtherCurrentLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59810121" unitRef="iso4217-usd">165693000</ifrs-full:OtherCurrentLiabilities>
  <ifrs-full:OtherExpenseByFunction contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806232" unitRef="iso4217-usd">11199000</ifrs-full:OtherExpenseByFunction>
  <ifrs-full:OtherExpenseByFunction contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806233" unitRef="iso4217-usd">12558000</ifrs-full:OtherExpenseByFunction>
  <ifrs-full:OtherExpenseByFunction contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806234" unitRef="iso4217-usd">9359000</ifrs-full:OtherExpenseByFunction>
  <ifrs-full:OtherFinanceIncomeCost contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806248" unitRef="iso4217-usd">14667000</ifrs-full:OtherFinanceIncomeCost>
  <ifrs-full:OtherFinanceIncomeCost contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806249" unitRef="iso4217-usd">34386000</ifrs-full:OtherFinanceIncomeCost>
  <ifrs-full:OtherFinanceIncomeCost contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806250" unitRef="iso4217-usd">-43550000</ifrs-full:OtherFinanceIncomeCost>
  <ifrs-full:OtherIncome contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806228" unitRef="iso4217-usd">23004000</ifrs-full:OtherIncome>
  <ifrs-full:OtherIncome contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806229" unitRef="iso4217-usd">15059000</ifrs-full:OtherIncome>
  <ifrs-full:OtherIncome contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806230" unitRef="iso4217-usd">10516000</ifrs-full:OtherIncome>
  <ifrs-full:OtherLongtermBenefits contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808386" unitRef="iso4217-usd">22134000</ifrs-full:OtherLongtermBenefits>
  <ifrs-full:OtherLongtermBenefits contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808387" unitRef="iso4217-usd">21353000</ifrs-full:OtherLongtermBenefits>
  <ifrs-full:OtherLongtermBenefits contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808388" unitRef="iso4217-usd">15441000</ifrs-full:OtherLongtermBenefits>
  <ifrs-full:OtherNoncurrentLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59810008" unitRef="iso4217-usd">251383000</ifrs-full:OtherNoncurrentLiabilities>
  <ifrs-full:OtherNoncurrentLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59810009" unitRef="iso4217-usd">213129000</ifrs-full:OtherNoncurrentLiabilities>
  <ifrs-full:OtherNoncurrentReceivables contextRef="i_2019-12-31" decimals="-3" id="c59809151" unitRef="iso4217-usd">6222000</ifrs-full:OtherNoncurrentReceivables>
  <ifrs-full:OtherNoncurrentReceivables contextRef="i_2018-12-31" decimals="-3" id="c59809152" unitRef="iso4217-usd">5263000</ifrs-full:OtherNoncurrentReceivables>
  <ifrs-full:OtherProvisions contextRef="i_2019-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59807504" unitRef="iso4217-usd">48800000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2018-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59807505" unitRef="iso4217-usd">66500000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2018-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810184" unitRef="iso4217-usd">6814000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2018-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810185" unitRef="iso4217-usd">17469000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2018-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810186" unitRef="iso4217-usd">24283000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2019-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810202" unitRef="iso4217-usd">5867000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2019-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810203" unitRef="iso4217-usd">11150000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2019-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810204" unitRef="iso4217-usd">17017000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2017-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810205" unitRef="iso4217-usd">11396000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2017-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810206" unitRef="iso4217-usd">20934000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2017-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810207" unitRef="iso4217-usd">32330000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2018-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810131" unitRef="iso4217-usd">36089000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2017-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810132" unitRef="iso4217-usd">36438000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2019-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810141" unitRef="iso4217-usd">54599000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2018-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember" id="c59810123" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherProvisions contextRef="i_2017-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember" decimals="-3" id="c59810124" unitRef="iso4217-usd">641000</ifrs-full:OtherProvisions>
  <ifrs-full:OtherProvisions contextRef="i_2019-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember" id="c59810129" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31" decimals="-3" id="c59807690" unitRef="iso4217-usd">261678000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807691" unitRef="iso4217-usd">93239000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" decimals="-3" id="c59807692" unitRef="iso4217-usd">48659000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807693" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807694" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807695" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807696" unitRef="iso4217-usd">48659000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesMember" decimals="-3" id="c59807697" unitRef="iso4217-usd">141898000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember" decimals="-3" id="c59807698" unitRef="iso4217-usd">93239000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember" decimals="-3" id="c59807699" unitRef="iso4217-usd">48659000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember" id="c59807700" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807701" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807702" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807703" unitRef="iso4217-usd">48659000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember" decimals="-3" id="c59807704" unitRef="iso4217-usd">119780000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember" id="c59807705" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember" id="c59807706" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember" id="c59807707" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807708" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807709" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807710" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31" decimals="-3" id="c59807867" unitRef="iso4217-usd">307790000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807868" unitRef="iso4217-usd">139474000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" decimals="-3" id="c59807869" unitRef="iso4217-usd">48711000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807870" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807871" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807872" unitRef="iso4217-usd">52000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807873" unitRef="iso4217-usd">48659000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesMember" decimals="-3" id="c59807874" unitRef="iso4217-usd">188185000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember" decimals="-3" id="c59807875" unitRef="iso4217-usd">139474000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember" decimals="-3" id="c59807876" unitRef="iso4217-usd">48711000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember" id="c59807877" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807878" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-3" id="c59807879" unitRef="iso4217-usd">52000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807880" unitRef="iso4217-usd">48659000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember" decimals="-3" id="c59807881" unitRef="iso4217-usd">119605000</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember" id="c59807882" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember" id="c59807883" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember" id="c59807884" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807885" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807886" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:OtherReceivables contextRef="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807887" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ParValuePerShare contextRef="i_2019-12-31" decimals="INF" id="c59806667" unitRef="iso4217-usd-per-xbrli-shares">1</ifrs-full:ParValuePerShare>
  <ifrs-full:ParValuePerShare contextRef="i_2018-12-31" decimals="INF" id="c59806811" unitRef="iso4217-usd-per-xbrli-shares">1</ifrs-full:ParValuePerShare>
  <ifrs-full:ParValuePerShare contextRef="i_2017-12-31" decimals="INF" id="c59806937" unitRef="iso4217-usd-per-xbrli-shares">1</ifrs-full:ParValuePerShare>
  <ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810028" unitRef="iso4217-usd">9328000</ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810029" unitRef="iso4217-usd">9719000</ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810050" unitRef="iso4217-usd">10259000</ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810051" unitRef="iso4217-usd">9453000</ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810104" unitRef="iso4217-usd">10259000</ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810105" unitRef="iso4217-usd">9453000</ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807052" unitRef="iso4217-usd">41530000</ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities>
  <ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities contextRef="d_2018-01-01_2018-12-31" id="c59807053" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities contextRef="d_2017-01-01_2017-12-31" id="c59807054" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-LU" decimals="2" id="c59807950" unitRef="xbrli-pure">0</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US" decimals="2" id="c59807951" unitRef="xbrli-pure">0.31</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-Argentina1Member" decimals="2" id="c59807952" unitRef="xbrli-pure">0.12</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="d_2019-01-01_2019-12-31_LegalEntityAxis-TenarisMember_TypesOfCustomersAxis-GovernmentCustomersMember" decimals="2" id="c59807954" unitRef="xbrli-pure">0.21</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="d_2018-01-01_2018-12-31_LegalEntityAxis-TenarisMember_TypesOfCustomersAxis-GovernmentCustomersMember" decimals="2" id="c59807955" unitRef="xbrli-pure">0.15</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfEntitysRevenue contextRef="d_2017-01-01_2017-12-31_LegalEntityAxis-TenarisMember_TypesOfCustomersAxis-GovernmentCustomersMember" decimals="2" id="c59807956" unitRef="xbrli-pure">0.17</ifrs-full:PercentageOfEntitysRevenue>
  <ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfDiscountRatesMember_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="2" id="c59809960" unitRef="xbrli-pure">0.01</ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption>
  <ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="2" id="c59809963" unitRef="xbrli-pure">0.01</ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption>
  <ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfDiscountRatesMember_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="2" id="c59809980" unitRef="xbrli-pure">0.01</ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption>
  <ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption contextRef="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="2" id="c59809983" unitRef="xbrli-pure">0.01</ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption>
  <ifrs-full:PercentageOfVotingEquityInterestsAcquired contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="4" id="c59810441" unitRef="xbrli-pure">0.4779</ifrs-full:PercentageOfVotingEquityInterestsAcquired>
  <ifrs-full:PercentageOfVotingEquityInterestsAcquired contextRef="i_2017-09-30_BusinessCombinationsAxis-GarrettMember" decimals="4" id="c59810453" unitRef="xbrli-pure">1</ifrs-full:PercentageOfVotingEquityInterestsAcquired>
  <ifrs-full:PercentageOfVotingEquityInterestsAcquired contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="0" id="c59810870" unitRef="xbrli-pure">1</ifrs-full:PercentageOfVotingEquityInterestsAcquired>
  <ifrs-full:PlanAssetsAtFairValue contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810036" unitRef="iso4217-usd">145160000</ifrs-full:PlanAssetsAtFairValue>
  <ifrs-full:PlanAssetsAtFairValue contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810037" unitRef="iso4217-usd">132438000</ifrs-full:PlanAssetsAtFairValue>
  <ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808383" unitRef="iso4217-usd">18207000</ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans>
  <ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808384" unitRef="iso4217-usd">15390000</ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans>
  <ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808385" unitRef="iso4217-usd">15066000</ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans>
  <ifrs-full:PostemploymentBenefitExpenseDefinedContributionPlans contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808380" unitRef="iso4217-usd">12663000</ifrs-full:PostemploymentBenefitExpenseDefinedContributionPlans>
  <ifrs-full:PostemploymentBenefitExpenseDefinedContributionPlans contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808381" unitRef="iso4217-usd">13217000</ifrs-full:PostemploymentBenefitExpenseDefinedContributionPlans>
  <ifrs-full:PostemploymentBenefitExpenseDefinedContributionPlans contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808382" unitRef="iso4217-usd">12401000</ifrs-full:PostemploymentBenefitExpenseDefinedContributionPlans>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807056" unitRef="iso4217-usd">1332716000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807057" unitRef="iso4217-usd">1019302000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807058" unitRef="iso4217-usd">1196781000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations contextRef="d_2016-12-15_2016-12-15" decimals="-5" id="c59810532" unitRef="iso4217-usd">328000000</ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations>
  <ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" id="c59806999" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" id="c59807000" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807001" unitRef="iso4217-usd">327631000</ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations>
  <ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807023" unitRef="iso4217-usd">2091000</ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807024" unitRef="iso4217-usd">6010000</ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807025" unitRef="iso4217-usd">5443000</ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:ProductionSupplies contextRef="i_2019-12-31" decimals="-3" id="c59809162" unitRef="iso4217-usd">486411000</ifrs-full:ProductionSupplies>
  <ifrs-full:ProductionSupplies contextRef="i_2018-12-31" decimals="-3" id="c59809163" unitRef="iso4217-usd">504286000</ifrs-full:ProductionSupplies>
  <ifrs-full:ProfitLoss contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806277" unitRef="iso4217-usd">731258000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806278" unitRef="iso4217-usd">873900000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806279" unitRef="iso4217-usd">536389000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806560" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806561" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806562" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806563" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" id="c59806564" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806565" unitRef="iso4217-usd">742686000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806566" unitRef="iso4217-usd">742686000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806567" unitRef="iso4217-usd">-11428000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806704" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806705" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806706" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806707" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" id="c59806708" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806709" unitRef="iso4217-usd">876063000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806710" unitRef="iso4217-usd">876063000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806711" unitRef="iso4217-usd">-2163000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806830" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806831" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806832" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806833" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" id="c59806834" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLoss contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806835" unitRef="iso4217-usd">544737000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806836" unitRef="iso4217-usd">544737000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLoss contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806837" unitRef="iso4217-usd">-8348000</ifrs-full:ProfitLoss>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806286" unitRef="iso4217-usd">-11428000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806287" unitRef="iso4217-usd">-2163000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806288" unitRef="iso4217-usd">-8348000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806282" unitRef="iso4217-usd">742686000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806283" unitRef="iso4217-usd">876063000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806284" unitRef="iso4217-usd">544737000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809112" unitRef="iso4217-usd">564269000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809113" unitRef="iso4217-usd">1506647000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809134" unitRef="iso4217-usd">52779000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809135" unitRef="iso4217-usd">194381000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2019-01-01_2019-12-31_SegmentConsolidationItemsAxis-EliminationOfIntersegmentAmountsMember" decimals="-5" id="c59807933" unitRef="iso4217-usd">36000000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2018-01-01_2018-12-31_SegmentConsolidationItemsAxis-EliminationOfIntersegmentAmountsMember" decimals="-5" id="c59807934" unitRef="iso4217-usd">52000000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2017-01-01_2017-12-31_SegmentConsolidationItemsAxis-EliminationOfIntersegmentAmountsMember" decimals="-5" id="c59807935" unitRef="iso4217-usd">53000000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" id="c59808012" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808013" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808014" unitRef="iso4217-usd">934000000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808015" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" id="c59808060" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808061" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808062" unitRef="iso4217-usd">1103000000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808063" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" id="c59808112" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808113" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808114" unitRef="iso4217-usd">428000000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808115" unitRef="iso4217-usd">2000000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806260" unitRef="iso4217-usd">933710000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806261" unitRef="iso4217-usd">1103107000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossBeforeTax contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806262" unitRef="iso4217-usd">427711000</ifrs-full:ProfitLossBeforeTax>
  <ifrs-full:ProfitLossFromContinuingOperations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806268" unitRef="iso4217-usd">731258000</ifrs-full:ProfitLossFromContinuingOperations>
  <ifrs-full:ProfitLossFromContinuingOperations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806269" unitRef="iso4217-usd">873900000</ifrs-full:ProfitLossFromContinuingOperations>
  <ifrs-full:ProfitLossFromContinuingOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806270" unitRef="iso4217-usd">444847000</ifrs-full:ProfitLossFromContinuingOperations>
  <ifrs-full:ProfitLossFromDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" id="c59806273" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossFromDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" id="c59806274" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossFromDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806275" unitRef="iso4217-usd">91542000</ifrs-full:ProfitLossFromDiscontinuedOperations>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59807996" unitRef="iso4217-usd">755000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59807997" unitRef="iso4217-usd">77000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59807998" unitRef="iso4217-usd">832000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59807999" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808044" unitRef="iso4217-usd">777000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808045" unitRef="iso4217-usd">95000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808046" unitRef="iso4217-usd">872000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808047" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808096" unitRef="iso4217-usd">292000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808097" unitRef="iso4217-usd">43000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808098" unitRef="iso4217-usd">335000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808099" unitRef="iso4217-usd">2000000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806236" unitRef="iso4217-usd">832391000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806237" unitRef="iso4217-usd">871813000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:ProfitLossFromOperatingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806238" unitRef="iso4217-usd">334588000</ifrs-full:ProfitLossFromOperatingActivities>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808149" unitRef="iso4217-usd">3771570000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808150" unitRef="iso4217-usd">1129260000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808151" unitRef="iso4217-usd">816721000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808152" unitRef="iso4217-usd">254858000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808153" unitRef="iso4217-usd">117608000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808154" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31" decimals="-3" id="c59808155" unitRef="iso4217-usd">6090017000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808156" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808198" unitRef="iso4217-usd">3859060000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808199" unitRef="iso4217-usd">1133113000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808200" unitRef="iso4217-usd">848178000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808201" unitRef="iso4217-usd">94040000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808202" unitRef="iso4217-usd">129517000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808203" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31" decimals="-3" id="c59808204" unitRef="iso4217-usd">6063908000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808205" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808247" unitRef="iso4217-usd">3914229000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808248" unitRef="iso4217-usd">1190145000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808249" unitRef="iso4217-usd">878788000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808250" unitRef="iso4217-usd">102481000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808251" unitRef="iso4217-usd">143500000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808252" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31" decimals="-3" id="c59808253" unitRef="iso4217-usd">6229143000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808254" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808598" unitRef="iso4217-usd">732578000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808599" unitRef="iso4217-usd">12121569000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808600" unitRef="iso4217-usd">377260000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808601" unitRef="iso4217-usd">127378000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808602" unitRef="iso4217-usd">63197000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808603" unitRef="iso4217-usd">13421982000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808634" unitRef="iso4217-usd">799139000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808635" unitRef="iso4217-usd">12468813000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808636" unitRef="iso4217-usd">399724000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808637" unitRef="iso4217-usd">108308000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808638" unitRef="iso4217-usd">60602000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808639" unitRef="iso4217-usd">13836586000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808641" unitRef="iso4217-usd">110914000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808642" unitRef="iso4217-usd">6936900000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808643" unitRef="iso4217-usd">310260000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808644" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808645" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808646" unitRef="iso4217-usd">7358074000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808671" unitRef="iso4217-usd">121468000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808672" unitRef="iso4217-usd">7302135000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808673" unitRef="iso4217-usd">322966000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808674" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808675" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808676" unitRef="iso4217-usd">7746569000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808677" unitRef="iso4217-usd">677671000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808678" unitRef="iso4217-usd">5166678000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808679" unitRef="iso4217-usd">76758000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808680" unitRef="iso4217-usd">108308000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808681" unitRef="iso4217-usd">60602000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808684" unitRef="iso4217-usd">712061000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808685" unitRef="iso4217-usd">11954585000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808686" unitRef="iso4217-usd">370542000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808687" unitRef="iso4217-usd">167079000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808688" unitRef="iso4217-usd">42413000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-3" id="c59808689" unitRef="iso4217-usd">13246680000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808721" unitRef="iso4217-usd">101197000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808722" unitRef="iso4217-usd">6612871000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808723" unitRef="iso4217-usd">303469000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c59808724" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" id="c59808725" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-3" id="c59808726" unitRef="iso4217-usd">7017537000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808757" unitRef="iso4217-usd">621664000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808758" unitRef="iso4217-usd">5184669000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808759" unitRef="iso4217-usd">67000000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-3" id="c59808760" unitRef="iso4217-usd">127378000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember" decimals="-3" id="c59808761" unitRef="iso4217-usd">63197000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810943" unitRef="iso4217-usd">506000000</ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate>
  <ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810456" unitRef="iso4217-sar">671000000</ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate>
  <ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810457" unitRef="iso4217-usd">179000000</ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="INF" id="c59807163" unitRef="xbrli-pure">0.1146</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="INF" id="c59807168" unitRef="xbrli-pure">0.0307</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2012-01-16_2012-01-16_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-TerniumSAMember" decimals="INF" id="c59807170" unitRef="xbrli-pure">0.138</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" decimals="INF" id="c59809040" unitRef="xbrli-pure">0.22</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember_SignificantInvestmentsInSubsidiariesAxis-TerniumSAMember" decimals="INF" id="c59809041" unitRef="xbrli-pure">0.48</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-TecpetrolInternationalSAMember_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" decimals="INF" id="c59809042" unitRef="xbrli-pure">0.3</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TerniumSAMember" decimals="4" id="c59810376" unitRef="xbrli-pure">0.1146</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-SanFaustinSaMember" decimals="4" id="c59810566" unitRef="xbrli-pure">0.6045</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-KeyManagementPersonnelOfEntityOrParentMember" decimals="4" id="c59810568" unitRef="xbrli-pure">0.0008</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="4" id="c59809075" unitRef="xbrli-pure">0.1146</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="4" id="c59809076" unitRef="xbrli-pure">0.1146</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="4" id="c59809080" unitRef="xbrli-pure">0.0307</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="4" id="c59809081" unitRef="xbrli-pure">0.0307</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInJointVenture contextRef="d_2019-01-01_2019-12-31_JointVenturesAxis-TechgenSAMember_LegalEntityAxis-TerniumSAMember" decimals="INF" id="c59807195" unitRef="xbrli-pure">0.48</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
  <ifrs-full:ProportionOfOwnershipInterestInJointVenture contextRef="d_2019-01-01_2019-12-31_JointVenturesAxis-TechgenSAMember_LegalEntityAxis-TecpetrolInternationalSAMember" decimals="INF" id="c59807196" unitRef="xbrli-pure">0.3</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
  <ifrs-full:ProportionOfOwnershipInterestInJointVenture contextRef="d_2019-01-01_2019-12-31_JointVenturesAxis-TechgenSAMember_LegalEntityAxis-TenarisMember" decimals="INF" id="c59807197" unitRef="xbrli-pure">0.22</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
  <ifrs-full:ProportionOfOwnershipInterestInJointVenture contextRef="d_2019-02-05_2019-02-05_JointVenturesAxis-WeldedPipePlantInWestSiberiaMember" decimals="2" id="c59810435" unitRef="xbrli-pure">0.49</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
  <ifrs-full:ProportionOfOwnershipInterestInJointVenture contextRef="d_2019-02-05_2019-02-05_JointVenturesAxis-WeldedPipePlantInWestSiberiaMember_LegalEntityAxis-PAOPSeverstalMember" decimals="2" id="c59810436" unitRef="xbrli-pure">0.51</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-HydrilCompanyAndSubsidiariesMember" decimals="3" id="c59810698" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TechnicalDrillingProductionServicesNigeriaLtdMember" decimals="3" id="c59810699" unitRef="xbrli-pure">0.8</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TenarisSupplyChainSAMember" decimals="3" id="c59810700" unitRef="xbrli-pure">0.975</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TubularTechnicalServicesAndPipeCoatersMember" decimals="3" id="c59810701" unitRef="xbrli-pure">0.4</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-AmajaTubularServicesLimitedMember" decimals="3" id="c59810702" unitRef="xbrli-pure">0.49</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TubularServicesAngolaLdaMember" decimals="3" id="c59810703" unitRef="xbrli-pure">0.49</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_CounterpartiesAxis-JfeMember_SignificantInvestmentsInSubsidiariesAxis-NkktubesMember" decimals="2" id="c59810942" unitRef="xbrli-pure">0.49</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-AlgomaTubesIncMember" decimals="2" id="c59810710" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-AlgomaTubesIncMember" decimals="2" id="c59810711" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-AlgomaTubesIncMember" decimals="2" id="c59810712" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="2" id="c59810715" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="2" id="c59810716" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="2" id="c59810717" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="2" id="c59810720" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="2" id="c59810721" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember" decimals="2" id="c59810722" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-HydrilCompanyAndSubsidiariesMember" decimals="2" id="c59810725" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-HydrilCompanyAndSubsidiariesMember" decimals="2" id="c59810726" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-HydrilCompanyAndSubsidiariesMember" decimals="2" id="c59810727" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-KZ_SignificantInvestmentsInSubsidiariesAxis-KazakhstanPipeThreadersLimitedMember" decimals="2" id="c59810730" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-KZ_SignificantInvestmentsInSubsidiariesAxis-KazakhstanPipeThreadersLimitedMember" decimals="2" id="c59810731" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-KZ_SignificantInvestmentsInSubsidiariesAxis-KazakhstanPipeThreadersLimitedMember" decimals="2" id="c59810732" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-MaverickTubeCorporationAndSubsidiariesMember" decimals="2" id="c59810735" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-MaverickTubeCorporationAndSubsidiariesMember" decimals="2" id="c59810736" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-MaverickTubeCorporationAndSubsidiariesMember" decimals="2" id="c59810737" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-JP_SignificantInvestmentsInSubsidiariesAxis-NkktubesMember" decimals="2" id="c59810740" unitRef="xbrli-pure">0.51</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-JP_SignificantInvestmentsInSubsidiariesAxis-NkktubesMember" decimals="2" id="c59810741" unitRef="xbrli-pure">0.51</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-JP_SignificantInvestmentsInSubsidiariesAxis-NkktubesMember" decimals="2" id="c59810742" unitRef="xbrli-pure">0.51</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-ID_SignificantInvestmentsInSubsidiariesAxis-PtSeamlessPipeIndonesiaJayaMember" decimals="2" id="c59810745" unitRef="xbrli-pure">0.89</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-ID_SignificantInvestmentsInSubsidiariesAxis-PtSeamlessPipeIndonesiaJayaMember" decimals="2" id="c59810746" unitRef="xbrli-pure">0.89</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-ID_SignificantInvestmentsInSubsidiariesAxis-PtSeamlessPipeIndonesiaJayaMember" decimals="2" id="c59810747" unitRef="xbrli-pure">0.89</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-PrudentialSteelLtdMember" decimals="2" id="c59810750" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-PrudentialSteelLtdMember" decimals="2" id="c59810751" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-PrudentialSteelLtdMember" decimals="2" id="c59810752" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-RO_SignificantInvestmentsInSubsidiariesAxis-ScSilcotubSaMember" decimals="2" id="c59810755" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-RO_SignificantInvestmentsInSubsidiariesAxis-ScSilcotubSaMember" decimals="2" id="c59810756" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-RO_SignificantInvestmentsInSubsidiariesAxis-ScSilcotubSaMember" decimals="2" id="c59810757" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-SA_SignificantInvestmentsInSubsidiariesAxis-SaudiSteelPipeCompanyMember" decimals="2" id="c59810760" unitRef="xbrli-pure">0.48</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SiatSociedadAnonimaMember" decimals="2" id="c59810765" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SiatSociedadAnonimaMember" decimals="2" id="c59810766" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SiatSociedadAnonimaMember" decimals="2" id="c59810767" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SidercaSaicAndSubsidiariesMember" decimals="2" id="c59810770" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SidercaSaicAndSubsidiariesMember" decimals="2" id="c59810771" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SidercaSaicAndSubsidiariesMember" decimals="2" id="c59810772" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-PT_SignificantInvestmentsInSubsidiariesAxis-TaltatradingEMarketingSociedadeUnipessoalLdaMember" decimals="2" id="c59810775" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-PT_SignificantInvestmentsInSubsidiariesAxis-TaltatradingEMarketingSociedadeUnipessoalLdaMember" decimals="2" id="c59810776" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-PT_SignificantInvestmentsInSubsidiariesAxis-TaltatradingEMarketingSociedadeUnipessoalLdaMember" decimals="2" id="c59810777" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisBayCityIncMember" decimals="2" id="c59810780" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisBayCityIncMember" decimals="2" id="c59810781" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisBayCityIncMember" decimals="2" id="c59810782" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-NL_SignificantInvestmentsInSubsidiariesAxis-TenarisConnectionsBvMember" decimals="2" id="c59810785" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-NL_SignificantInvestmentsInSubsidiariesAxis-TenarisConnectionsBvMember" decimals="2" id="c59810786" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-NL_SignificantInvestmentsInSubsidiariesAxis-TenarisConnectionsBvMember" decimals="2" id="c59810787" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisFinancialServicesSaMember" decimals="2" id="c59810790" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisFinancialServicesSaMember" decimals="2" id="c59810791" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisFinancialServicesSaMember" decimals="2" id="c59810792" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesCanadaIncMember" decimals="2" id="c59810795" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesCanadaIncMember" decimals="2" id="c59810796" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesCanadaIncMember" decimals="2" id="c59810797" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUsaCorporationMember" decimals="2" id="c59810800" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUsaCorporationMember" decimals="2" id="c59810801" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUsaCorporationMember" decimals="2" id="c59810802" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-GB_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUkLtdMember" decimals="2" id="c59810805" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-GB_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUkLtdMember" decimals="2" id="c59810806" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-GB_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUkLtdMember" decimals="2" id="c59810807" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesSaAndSubsidiariesMember" decimals="2" id="c59810810" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesSaAndSubsidiariesMember" decimals="2" id="c59810811" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesSaAndSubsidiariesMember" decimals="2" id="c59810812" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-NL_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsNLBVMember" decimals="2" id="c59810815" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSrlMember" decimals="2" id="c59810820" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSrlMember" decimals="2" id="c59810821" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSrlMember" decimals="2" id="c59810822" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-CH_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" decimals="2" id="c59810825" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-CH_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" decimals="2" id="c59810826" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-CH_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" decimals="2" id="c59810827" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-Colombia1Member_SignificantInvestmentsInSubsidiariesAxis-TenarisTubocaribeLtdaMember" decimals="2" id="c59810830" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-Colombia1Member_SignificantInvestmentsInSubsidiariesAxis-TenarisTubocaribeLtdaMember" decimals="2" id="c59810831" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-Colombia1Member_SignificantInvestmentsInSubsidiariesAxis-TenarisTubocaribeLtdaMember" decimals="2" id="c59810832" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-MX_SignificantInvestmentsInSubsidiariesAxis-TubosDeAceroDeMexicoSaMember" decimals="2" id="c59810835" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-MX_SignificantInvestmentsInSubsidiariesAxis-TubosDeAceroDeMexicoSaMember" decimals="2" id="c59810836" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-MX_SignificantInvestmentsInSubsidiariesAxis-TubosDeAceroDeMexicoSaMember" decimals="2" id="c59810837" unitRef="xbrli-pure">1</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfVotingPowerHeldInAssociate contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="INF" id="c59807167" unitRef="xbrli-pure">0.052</ifrs-full:ProportionOfVotingPowerHeldInAssociate>
  <ifrs-full:ProportionOfVotingPowerHeldInAssociate contextRef="d_2012-01-16_2012-01-16_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-TerniumSAMember" decimals="INF" id="c59807169" unitRef="xbrli-pure">0.277</ifrs-full:ProportionOfVotingPowerHeldInAssociate>
  <ifrs-full:ProportionOfVotingPowerHeldInAssociate contextRef="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="INF" id="c59809021" unitRef="xbrli-pure">0.052</ifrs-full:ProportionOfVotingPowerHeldInAssociate>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810199" unitRef="iso4217-usd">13304000</ifrs-full:ProvisionUsedOtherProvisions>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810200" unitRef="iso4217-usd">4889000</ifrs-full:ProvisionUsedOtherProvisions>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810201" unitRef="iso4217-usd">18193000</ifrs-full:ProvisionUsedOtherProvisions>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810217" unitRef="iso4217-usd">7117000</ifrs-full:ProvisionUsedOtherProvisions>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810218" unitRef="iso4217-usd">10129000</ifrs-full:ProvisionUsedOtherProvisions>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810219" unitRef="iso4217-usd">17246000</ifrs-full:ProvisionUsedOtherProvisions>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810139" unitRef="iso4217-usd">5464000</ifrs-full:ProvisionUsedOtherProvisions>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember" decimals="-3" id="c59810140" unitRef="iso4217-usd">7079000</ifrs-full:ProvisionUsedOtherProvisions>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember" id="c59810127" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ProvisionUsedOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember" decimals="-3" id="c59810128" unitRef="iso4217-usd">531000</ifrs-full:ProvisionUsedOtherProvisions>
  <ifrs-full:PurchaseOfInterestsInAssociates contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807011" unitRef="iso4217-usd">19610000</ifrs-full:PurchaseOfInterestsInAssociates>
  <ifrs-full:PurchaseOfInterestsInAssociates contextRef="d_2018-01-01_2018-12-31" id="c59807012" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfInterestsInAssociates contextRef="d_2017-01-01_2017-12-31" id="c59807013" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807007" unitRef="iso4217-usd">2933000</ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31" id="c59807008" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807009" unitRef="iso4217-usd">3681000</ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808016" unitRef="iso4217-usd">338000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808017" unitRef="iso4217-usd">12000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808018" unitRef="iso4217-usd">350000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808019" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808064" unitRef="iso4217-usd">346000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808065" unitRef="iso4217-usd">3000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808066" unitRef="iso4217-usd">349000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808067" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808116" unitRef="iso4217-usd">550000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808117" unitRef="iso4217-usd">8000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808118" unitRef="iso4217-usd">558000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808119" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806991" unitRef="iso4217-usd">350174000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806992" unitRef="iso4217-usd">349473000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806993" unitRef="iso4217-usd">558236000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808157" unitRef="iso4217-usd">169390000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808158" unitRef="iso4217-usd">113999000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808159" unitRef="iso4217-usd">55169000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808160" unitRef="iso4217-usd">4578000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808161" unitRef="iso4217-usd">7038000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808162" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808164" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808206" unitRef="iso4217-usd">196220000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808207" unitRef="iso4217-usd">68603000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808208" unitRef="iso4217-usd">77467000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808209" unitRef="iso4217-usd">2047000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808210" unitRef="iso4217-usd">5136000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808211" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808213" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808255" unitRef="iso4217-usd">430142000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808256" unitRef="iso4217-usd">58949000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808257" unitRef="iso4217-usd">57285000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808258" unitRef="iso4217-usd">7562000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808259" unitRef="iso4217-usd">4153000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808260" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-ContinuingOperations1Member" decimals="-3" id="c59808261" unitRef="iso4217-usd">558091000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" decimals="-3" id="c59808262" unitRef="iso4217-usd">145000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
  <ifrs-full:PurchasesOfGoodsRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810618" unitRef="iso4217-usd">174588000</ifrs-full:PurchasesOfGoodsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfGoodsRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810619" unitRef="iso4217-usd">245186000</ifrs-full:PurchasesOfGoodsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810620" unitRef="iso4217-usd">234361000</ifrs-full:PurchasesOfGoodsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfGoodsRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810623" unitRef="iso4217-usd">51765000</ifrs-full:PurchasesOfGoodsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfGoodsRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810624" unitRef="iso4217-usd">106624000</ifrs-full:PurchasesOfGoodsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810625" unitRef="iso4217-usd">17711000</ifrs-full:PurchasesOfGoodsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810628" unitRef="iso4217-usd">9404000</ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810629" unitRef="iso4217-usd">9556000</ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810630" unitRef="iso4217-usd">12077000</ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810633" unitRef="iso4217-usd">54514000</ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810634" unitRef="iso4217-usd">46179000</ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions>
  <ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810635" unitRef="iso4217-usd">50794000</ifrs-full:PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions>
  <ifrs-full:RawMaterials contextRef="i_2019-12-31" decimals="-3" id="c59809160" unitRef="iso4217-usd">221954000</ifrs-full:RawMaterials>
  <ifrs-full:RawMaterials contextRef="i_2018-12-31" decimals="-3" id="c59809161" unitRef="iso4217-usd">256816000</ifrs-full:RawMaterials>
  <ifrs-full:RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019 contextRef="d_2017-01-01_2017-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59807271">P2Y</ifrs-full:RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019>
  <ifrs-full:RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019 contextRef="d_2018-01-01_2018-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59807399">P0Y</ifrs-full:RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807060" unitRef="iso4217-usd">1159053000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807061" unitRef="iso4217-usd">1432202000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807062" unitRef="iso4217-usd">1090129000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
  <ifrs-full:ResearchAndDevelopmentExpense contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807257" unitRef="iso4217-usd">61100000</ifrs-full:ResearchAndDevelopmentExpense>
  <ifrs-full:ResearchAndDevelopmentExpense contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807258" unitRef="iso4217-usd">63400000</ifrs-full:ResearchAndDevelopmentExpense>
  <ifrs-full:ResearchAndDevelopmentExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807259" unitRef="iso4217-usd">63700000</ifrs-full:ResearchAndDevelopmentExpense>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31" decimals="-3" id="c59807558" unitRef="iso4217-usd">2600000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31" decimals="-3" id="c59807559" unitRef="iso4217-usd">-900000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2017-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810320" unitRef="iso4217-usd">-240000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810322" unitRef="iso4217-usd">-916000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810324" unitRef="iso4217-usd">2591000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2017-12-31_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810325" unitRef="iso4217-usd">-240000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810327" unitRef="iso4217-usd">-916000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810329" unitRef="iso4217-usd">2591000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810252" unitRef="iso4217-usd">404000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810253" unitRef="iso4217-usd">-411000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810258" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810259" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810264" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810265" unitRef="iso4217-usd">-895000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810270" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810271" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810276" unitRef="iso4217-usd">2149000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810277" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810282" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810283" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810288" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810289" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810294" unitRef="iso4217-usd">38000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810295" unitRef="iso4217-usd">390000</ifrs-full:ReserveOfCashFlowHedgesContinuingHedges>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810300" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810301" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810306" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810307" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractOtherMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810312" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfCashFlowHedgesContinuingHedges contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractOtherMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810313" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ReserveOfExchangeDifferencesOnTranslation contextRef="i_2019-12-31" decimals="-3" id="c59807465" unitRef="iso4217-usd">600000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
  <ifrs-full:ReserveOfExchangeDifferencesOnTranslation contextRef="i_2018-12-31" decimals="-3" id="c59807469" unitRef="iso4217-usd">1900000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
  <ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset contextRef="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810098" unitRef="iso4217-usd">-5018000</ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset contextRef="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember" decimals="-3" id="c59810099" unitRef="iso4217-usd">-4936000</ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59807972" unitRef="iso4217-usd">6870000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59807973" unitRef="iso4217-usd">424000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59807974" unitRef="iso4217-usd">7294000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59807975" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808024" unitRef="iso4217-usd">7233000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808025" unitRef="iso4217-usd">426000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808026" unitRef="iso4217-usd">7659000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808027" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808072" unitRef="iso4217-usd">4966000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808073" unitRef="iso4217-usd">323000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808074" unitRef="iso4217-usd">5289000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808075" unitRef="iso4217-usd">12000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_ProductsAndServicesAxis-OilAndGasMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808271" unitRef="iso4217-usd">5757000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_ProductsAndServicesAxis-OilAndGasMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808272" unitRef="iso4217-usd">6042000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_ProductsAndServicesAxis-OilAndGasMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808273" unitRef="iso4217-usd">4034000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_ProductsAndServicesAxis-HydrocarbonProcessingAndPowerGenerationMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808274" unitRef="iso4217-usd">534000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_ProductsAndServicesAxis-HydrocarbonProcessingAndPowerGenerationMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808275" unitRef="iso4217-usd">602000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_ProductsAndServicesAxis-HydrocarbonProcessingAndPowerGenerationMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808276" unitRef="iso4217-usd">484000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_ProductsAndServicesAxis-IndustrialAndOtherMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808277" unitRef="iso4217-usd">579000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_ProductsAndServicesAxis-IndustrialAndOtherMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808278" unitRef="iso4217-usd">589000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_ProductsAndServicesAxis-IndustrialAndOtherMember_SegmentsAxis-TubesMember" decimals="-6" id="c59808279" unitRef="iso4217-usd">448000000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806212" unitRef="iso4217-usd">7294055000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806213" unitRef="iso4217-usd">7658588000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806214" unitRef="iso4217-usd">5288504000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808125" unitRef="iso4217-usd">3429911000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808126" unitRef="iso4217-usd">1391288000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808127" unitRef="iso4217-usd">738880000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808128" unitRef="iso4217-usd">1382172000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808129" unitRef="iso4217-usd">351804000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808130" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808132" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808174" unitRef="iso4217-usd">3611509000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808175" unitRef="iso4217-usd">1462044000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808176" unitRef="iso4217-usd">724733000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808177" unitRef="iso4217-usd">1559988000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808178" unitRef="iso4217-usd">300314000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808179" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" id="c59808181" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-NorthAmerica1Member" decimals="-3" id="c59808223" unitRef="iso4217-usd">2451357000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-SouthAmerica1Member" decimals="-3" id="c59808224" unitRef="iso4217-usd">1142142000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-Europe1Member" decimals="-3" id="c59808225" unitRef="iso4217-usd">545777000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember" decimals="-3" id="c59808226" unitRef="iso4217-usd">937439000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AsiaPacific1Member" decimals="-3" id="c59808227" unitRef="iso4217-usd">211789000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-UnallocatedRegionMember" id="c59808228" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember" decimals="-3" id="c59808230" unitRef="iso4217-usd">11899000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809108" unitRef="iso4217-usd">10192818000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59809109" unitRef="iso4217-usd">11454807000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809130" unitRef="iso4217-usd">3790206000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="-3" id="c59809131" unitRef="iso4217-usd">3766241000</ifrs-full:Revenue>
  <ifrs-full:RevenueFromInterest contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808482" unitRef="iso4217-usd">48061000</ifrs-full:RevenueFromInterest>
  <ifrs-full:RevenueFromInterest contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808483" unitRef="iso4217-usd">42244000</ifrs-full:RevenueFromInterest>
  <ifrs-full:RevenueFromInterest contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808484" unitRef="iso4217-usd">51525000</ifrs-full:RevenueFromInterest>
  <ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810602" unitRef="iso4217-usd">5620000</ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions>
  <ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810603" unitRef="iso4217-usd">7641000</ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions>
  <ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810604" unitRef="iso4217-usd">11637000</ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions>
  <ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810607" unitRef="iso4217-usd">4386000</ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions>
  <ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810608" unitRef="iso4217-usd">5647000</ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions>
  <ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810609" unitRef="iso4217-usd">3751000</ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810592" unitRef="iso4217-usd">20577000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810593" unitRef="iso4217-usd">23709000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember" decimals="-3" id="c59810594" unitRef="iso4217-usd">32362000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810597" unitRef="iso4217-usd">69972000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810598" unitRef="iso4217-usd">131548000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-3" id="c59810599" unitRef="iso4217-usd">94624000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueOfAcquiree contextRef="d_2019-01-21_2019-12-31_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-5" id="c59810450" unitRef="iso4217-usd">170600000</ifrs-full:RevenueOfAcquiree>
  <ifrs-full:RightofuseAssets contextRef="i_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59809004" unitRef="iso4217-usd">27807000</ifrs-full:RightofuseAssets>
  <ifrs-full:RightofuseAssets contextRef="i_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59809005" unitRef="iso4217-usd">194808000</ifrs-full:RightofuseAssets>
  <ifrs-full:RightofuseAssets contextRef="i_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59809006" unitRef="iso4217-usd">10511000</ifrs-full:RightofuseAssets>
  <ifrs-full:RightofuseAssets contextRef="i_2019-12-31" decimals="-3" id="c59809007" unitRef="iso4217-usd">233126000</ifrs-full:RightofuseAssets>
  <ifrs-full:RightofuseAssets contextRef="i_2018-12-31" id="c59806394" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:SellingGeneralAndAdministrativeExpense contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806224" unitRef="iso4217-usd">1365974000</ifrs-full:SellingGeneralAndAdministrativeExpense>
  <ifrs-full:SellingGeneralAndAdministrativeExpense contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806225" unitRef="iso4217-usd">1509976000</ifrs-full:SellingGeneralAndAdministrativeExpense>
  <ifrs-full:SellingGeneralAndAdministrativeExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806226" unitRef="iso4217-usd">1270016000</ifrs-full:SellingGeneralAndAdministrativeExpense>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806596" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806597" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806598" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806599" unitRef="iso4217-usd">-10781000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806600" unitRef="iso4217-usd">-9066000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806601" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806602" unitRef="iso4217-usd">-19847000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" id="c59806603" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806604" unitRef="iso4217-usd">-19847000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806740" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806741" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806742" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806743" unitRef="iso4217-usd">1848000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806744" unitRef="iso4217-usd">-3987000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806745" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806746" unitRef="iso4217-usd">-2139000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" id="c59806747" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806748" unitRef="iso4217-usd">-2139000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806866" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806867" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806868" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806869" unitRef="iso4217-usd">-9548000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806870" unitRef="iso4217-usd">136000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" id="c59806871" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806872" unitRef="iso4217-usd">-9412000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" id="c59806873" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806874" unitRef="iso4217-usd">-9412000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806346" unitRef="iso4217-usd">-9878000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806347" unitRef="iso4217-usd">-3855000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax>
  <ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806348" unitRef="iso4217-usd">-376000</ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" id="c59808008" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808009" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808010" unitRef="iso4217-usd">82000000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808011" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" id="c59808056" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808057" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808058" unitRef="iso4217-usd">194000000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808059" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" id="c59808108" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808109" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808110" unitRef="iso4217-usd">116000000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808111" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806256" unitRef="iso4217-usd">82036000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806257" unitRef="iso4217-usd">193994000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806258" unitRef="iso4217-usd">116140000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShorttermBorrowings contextRef="i_2019-12-31_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="-3" id="c59807471" unitRef="iso4217-usd">728000000</ifrs-full:ShorttermBorrowings>
  <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="i_2019-12-31" decimals="-3" id="c59809282" unitRef="iso4217-usd">1166697000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
  <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="i_2018-12-31" decimals="-3" id="c59809283" unitRef="iso4217-usd">160198000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
  <ifrs-full:ShorttermEmployeeBenefitsExpense contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808374" unitRef="iso4217-usd">1274474000</ifrs-full:ShorttermEmployeeBenefitsExpense>
  <ifrs-full:ShorttermEmployeeBenefitsExpense contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808375" unitRef="iso4217-usd">1250783000</ifrs-full:ShorttermEmployeeBenefitsExpense>
  <ifrs-full:ShorttermEmployeeBenefitsExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808376" unitRef="iso4217-usd">1144341000</ifrs-full:ShorttermEmployeeBenefitsExpense>
  <ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents contextRef="i_2019-12-31" decimals="-3" id="c59809284" unitRef="iso4217-usd">269288000</ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents>
  <ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents contextRef="i_2018-12-31" decimals="-3" id="c59809285" unitRef="iso4217-usd">186952000</ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents>
  <ifrs-full:SurplusDeficitInPlan contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810038" unitRef="iso4217-usd">-15252000</ifrs-full:SurplusDeficitInPlan>
  <ifrs-full:SurplusDeficitInPlan contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810039" unitRef="iso4217-usd">-14447000</ifrs-full:SurplusDeficitInPlan>
  <ifrs-full:TaxEffectFromChangeInTaxRate contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808552" unitRef="iso4217-usd">-13000</ifrs-full:TaxEffectFromChangeInTaxRate>
  <ifrs-full:TaxEffectFromChangeInTaxRate contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808553" unitRef="iso4217-usd">1824000</ifrs-full:TaxEffectFromChangeInTaxRate>
  <ifrs-full:TaxEffectFromChangeInTaxRate contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808554" unitRef="iso4217-usd">-62968000</ifrs-full:TaxEffectFromChangeInTaxRate>
  <ifrs-full:TaxEffectOfTaxLosses contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808555" unitRef="iso4217-usd">-547000</ifrs-full:TaxEffectOfTaxLosses>
  <ifrs-full:TaxEffectOfTaxLosses contextRef="d_2018-01-01_2018-12-31" id="c59808556" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TaxEffectOfTaxLosses contextRef="d_2017-01-01_2017-12-31" id="c59808557" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TaxExpenseIncomeAtApplicableTaxRate contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808546" unitRef="iso4217-usd">186752000</ifrs-full:TaxExpenseIncomeAtApplicableTaxRate>
  <ifrs-full:TaxExpenseIncomeAtApplicableTaxRate contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808547" unitRef="iso4217-usd">207422000</ifrs-full:TaxExpenseIncomeAtApplicableTaxRate>
  <ifrs-full:TaxExpenseIncomeAtApplicableTaxRate contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808548" unitRef="iso4217-usd">6456000</ifrs-full:TaxExpenseIncomeAtApplicableTaxRate>
  <ifrs-full:TaxExpenseRelatingToGainLossOnDiscontinuance contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810547" unitRef="iso4217-usd">100123000</ifrs-full:TaxExpenseRelatingToGainLossOnDiscontinuance>
  <ifrs-full:TerminationBenefitsExpense contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808377" unitRef="iso4217-usd">24637000</ifrs-full:TerminationBenefitsExpense>
  <ifrs-full:TerminationBenefitsExpense contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808378" unitRef="iso4217-usd">25225000</ifrs-full:TerminationBenefitsExpense>
  <ifrs-full:TerminationBenefitsExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808379" unitRef="iso4217-usd">34497000</ifrs-full:TerminationBenefitsExpense>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2019-12-31" decimals="-3" id="c59807726" unitRef="iso4217-usd">555887000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807727" unitRef="iso4217-usd">555887000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807728" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807729" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807730" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807731" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807732" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2018-12-31" decimals="-3" id="c59807903" unitRef="iso4217-usd">693673000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember" decimals="-3" id="c59807904" unitRef="iso4217-usd">693673000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" id="c59807905" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" id="c59807906" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" id="c59807907" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" id="c59807908" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c59807909" unitRef="iso4217-usd" xs:nil="true"/>
  <ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties contextRef="i_2019-12-31" decimals="-3" id="c59809211" unitRef="iso4217-usd">9448000</ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties>
  <ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties contextRef="i_2018-12-31" decimals="-3" id="c59809212" unitRef="iso4217-usd">25105000</ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807537" unitRef="iso4217-usd">0</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807538" unitRef="iso4217-usd">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised contextRef="i_2019-12-31" decimals="-5" id="c59809487" unitRef="iso4217-usd">121200000</ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised>
  <ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810160" unitRef="iso4217-usd">3276000</ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" decimals="-3" id="c59810161" unitRef="iso4217-usd">565000</ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810162" unitRef="iso4217-usd">31184000</ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810178" unitRef="iso4217-usd">6849000</ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" decimals="-3" id="c59810179" unitRef="iso4217-usd">291000</ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810180" unitRef="iso4217-usd">28154000</ifrs-full:UtilisationAllowanceAccountForCreditLossesOfFinancialAssets>
  <ifrs-full:WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16 contextRef="i_2019-01-01" decimals="3" id="c59808940" unitRef="xbrli-pure">0.024</ifrs-full:WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16>
  <ifrs-full:WeightedAverageShares contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806295" unitRef="xbrli-shares">1180537000</ifrs-full:WeightedAverageShares>
  <ifrs-full:WeightedAverageShares contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806296" unitRef="xbrli-shares">1180537000</ifrs-full:WeightedAverageShares>
  <ifrs-full:WeightedAverageShares contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806297" unitRef="xbrli-shares">1180537000</ifrs-full:WeightedAverageShares>
  <ifrs-full:WorkInProgress contextRef="i_2019-12-31" decimals="-3" id="c59809158" unitRef="iso4217-usd">612888000</ifrs-full:WorkInProgress>
  <ifrs-full:WorkInProgress contextRef="i_2018-12-31" decimals="-3" id="c59809159" unitRef="iso4217-usd">709497000</ifrs-full:WorkInProgress>
  <ts:AdditionalProvisionsOtherProvisionsReversals contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810193" unitRef="iso4217-usd">11880000</ts:AdditionalProvisionsOtherProvisionsReversals>
  <ts:AdditionalProvisionsOtherProvisionsReversals contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810194" unitRef="iso4217-usd">-3219000</ts:AdditionalProvisionsOtherProvisionsReversals>
  <ts:AdditionalProvisionsOtherProvisionsReversals contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810195" unitRef="iso4217-usd">8661000</ts:AdditionalProvisionsOtherProvisionsReversals>
  <ts:AdditionalProvisionsOtherProvisionsReversals contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-SalesRisksMember" decimals="-3" id="c59810211" unitRef="iso4217-usd">2638000</ts:AdditionalProvisionsOtherProvisionsReversals>
  <ts:AdditionalProvisionsOtherProvisionsReversals contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember" decimals="-3" id="c59810212" unitRef="iso4217-usd">6463000</ts:AdditionalProvisionsOtherProvisionsReversals>
  <ts:AdditionalProvisionsOtherProvisionsReversals contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember" decimals="-3" id="c59810213" unitRef="iso4217-usd">9101000</ts:AdditionalProvisionsOtherProvisionsReversals>
  <ts:AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810480" unitRef="iso4217-usd">-34368000</ts:AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets>
  <ts:AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810481" unitRef="iso4217-usd">30144000</ts:AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets>
  <ts:AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810482" unitRef="iso4217-usd">-4564000</ts:AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets>
  <ts:AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss contextRef="d_2019-01-01_2019-12-31" decimals="-6" id="c59808517" unitRef="iso4217-usd">66000000</ts:AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss>
  <ts:AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss contextRef="d_2018-01-01_2018-12-31" decimals="-6" id="c59808518" unitRef="iso4217-usd">65000000</ts:AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss>
  <ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances contextRef="i_2019-12-31" decimals="-3" id="c59809236" unitRef="iso4217-usd">1294000</ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances>
  <ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809237" unitRef="iso4217-usd">529000</ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances>
  <ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809238" unitRef="iso4217-usd">455000</ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances>
  <ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809239" unitRef="iso4217-usd">310000</ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances>
  <ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances contextRef="i_2018-12-31" decimals="-3" id="c59809265" unitRef="iso4217-usd">1396000</ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances>
  <ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809266" unitRef="iso4217-usd">564000</ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances>
  <ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809267" unitRef="iso4217-usd">510000</ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances>
  <ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809268" unitRef="iso4217-usd">322000</ts:AllowanceForDoubfulAccountsNetOfNominativeAllowances>
  <ts:AllowanceForOtherDoubtfulAccounts contextRef="i_2019-12-31" decimals="-3" id="c59809189" unitRef="iso4217-usd">4892000</ts:AllowanceForOtherDoubtfulAccounts>
  <ts:AllowanceForOtherDoubtfulAccounts contextRef="i_2018-12-31" decimals="-3" id="c59809190" unitRef="iso4217-usd">6784000</ts:AllowanceForOtherDoubtfulAccounts>
  <ts:AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage contextRef="i_2019-12-31_UnobservableInputsAxis-DiscountRateMeasurementInputMember" decimals="4" id="c59807439" unitRef="xbrli-pure">0.0095</ts:AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage>
  <ts:AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage contextRef="i_2019-12-31_UnobservableInputsAxis-GrowthRateMeasurementInputMember" decimals="4" id="c59807440" unitRef="xbrli-pure">-0.016</ts:AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage>
  <ts:AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage contextRef="i_2019-12-31_UnobservableInputsAxis-ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" decimals="4" id="c59807441" unitRef="xbrli-pure">-0.153</ts:AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage>
  <ts:AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-3">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 76%; border: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Increase in the discount rate&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;95 Bps&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease of the growth rate&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-1.6 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease of the cash flow projections&lt;/div&gt;&lt;/td&gt; &lt;td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-15.3 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock>
  <ts:AmountsReceivablePayableRelatedPartyTransactions contextRef="i_2019-12-31" decimals="-3" id="c59810668" unitRef="iso4217-usd">63136000</ts:AmountsReceivablePayableRelatedPartyTransactions>
  <ts:AmountsReceivablePayableRelatedPartyTransactions contextRef="i_2018-12-31" decimals="-3" id="c59810669" unitRef="iso4217-usd">95763000</ts:AmountsReceivablePayableRelatedPartyTransactions>
  <ts:AuditorsRemunerationForAuditrelatedFees contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810685" unitRef="iso4217-usd">50000</ts:AuditorsRemunerationForAuditrelatedFees>
  <ts:AuditorsRemunerationForAuditrelatedFees contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810686" unitRef="iso4217-usd">43000</ts:AuditorsRemunerationForAuditrelatedFees>
  <ts:AuditorsRemunerationForAuditrelatedFees contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810687" unitRef="iso4217-usd">88000</ts:AuditorsRemunerationForAuditrelatedFees>
  <ts:BasicAndDilutedEarningsLossesPerAds contextRef="d_2019-01-01_2019-12-31" decimals="INF" id="c59806313" unitRef="iso4217-usd-per-xbrli-shares">1.26</ts:BasicAndDilutedEarningsLossesPerAds>
  <ts:BasicAndDilutedEarningsLossesPerAds contextRef="d_2018-01-01_2018-12-31" decimals="INF" id="c59806314" unitRef="iso4217-usd-per-xbrli-shares">1.48</ts:BasicAndDilutedEarningsLossesPerAds>
  <ts:BasicAndDilutedEarningsLossesPerAds contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c59806315" unitRef="iso4217-usd-per-xbrli-shares">0.92</ts:BasicAndDilutedEarningsLossesPerAds>
  <ts:BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations contextRef="d_2019-01-01_2019-12-31" decimals="INF" id="c59806304" unitRef="iso4217-usd-per-xbrli-shares">1.26</ts:BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations>
  <ts:BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations contextRef="d_2018-01-01_2018-12-31" decimals="INF" id="c59806305" unitRef="iso4217-usd-per-xbrli-shares">1.48</ts:BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations>
  <ts:BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c59806306" unitRef="iso4217-usd-per-xbrli-shares">0.77</ts:BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2019-12-31_MaturityAxis-NotLaterThanOneYearMember" decimals="-3" id="c59809352" unitRef="iso4217-usd">792642000</ts:BorrowingsIncludingInterestToBeAccrued>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2019-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember" decimals="-3" id="c59809353" unitRef="iso4217-usd">18352000</ts:BorrowingsIncludingInterestToBeAccrued>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2019-12-31_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember" decimals="-3" id="c59809354" unitRef="iso4217-usd">23690000</ts:BorrowingsIncludingInterestToBeAccrued>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2019-12-31_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember" id="c59809355" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2019-12-31_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember" id="c59809356" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2019-12-31_MaturityAxis-LaterThanFiveYearsMember" id="c59809357" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2019-12-31" decimals="-3" id="c59809358" unitRef="iso4217-usd">834684000</ts:BorrowingsIncludingInterestToBeAccrued>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2018-12-31_MaturityAxis-NotLaterThanOneYearMember" decimals="-3" id="c59809388" unitRef="iso4217-usd">518002000</ts:BorrowingsIncludingInterestToBeAccrued>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2018-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember" decimals="-3" id="c59809389" unitRef="iso4217-usd">5446000</ts:BorrowingsIncludingInterestToBeAccrued>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2018-12-31_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember" decimals="-3" id="c59809390" unitRef="iso4217-usd">5937000</ts:BorrowingsIncludingInterestToBeAccrued>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2018-12-31_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember" decimals="-3" id="c59809391" unitRef="iso4217-usd">20314000</ts:BorrowingsIncludingInterestToBeAccrued>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2018-12-31_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember" id="c59809392" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2018-12-31_MaturityAxis-LaterThanFiveYearsMember" id="c59809393" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:BorrowingsIncludingInterestToBeAccrued contextRef="i_2018-12-31" decimals="-3" id="c59809394" unitRef="iso4217-usd">549699000</ts:BorrowingsIncludingInterestToBeAccrued>
  <ts:CarryingValueOfUnitsGranted contextRef="i_2019-12-31" decimals="-3" id="c59807354" unitRef="iso4217-usd">119900000</ts:CarryingValueOfUnitsGranted>
  <ts:CarryingValueOfUnitsGranted contextRef="i_2018-12-31" decimals="-3" id="c59807355" unitRef="iso4217-usd">106000000</ts:CarryingValueOfUnitsGranted>
  <ts:CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup contextRef="i_2019-12-31" decimals="-3" id="c59807089" unitRef="iso4217-usd">1554299000</ts:CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup>
  <ts:CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup contextRef="i_2018-12-31" decimals="-3" id="c59807090" unitRef="iso4217-usd">428361000</ts:CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup>
  <ts:CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup contextRef="i_2017-12-31" decimals="-3" id="c59807091" unitRef="iso4217-usd">330221000</ts:CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup>
  <ts:ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations contextRef="d_2019-01-01_2019-12-31" decimals="-6" id="c59808521" unitRef="iso4217-usd">34000000</ts:ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations>
  <ts:ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations contextRef="d_2018-01-01_2018-12-31" decimals="-6" id="c59808522" unitRef="iso4217-usd">26000000</ts:ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations>
  <ts:ClosingPricePerADS contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="INF" id="c59809024" unitRef="iso4217-usd-per-xbrli-shares">22</ts:ClosingPricePerADS>
  <ts:ClosingPricePerShare contextRef="i_2019-12-31_ClassesOfShareCapitalAxis-OrdinarySharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="INF" id="c59809033" unitRef="iso4217-brl-per-xbrli-shares">9.83</ts:ClosingPricePerShare>
  <ts:ClosingPricePerShare contextRef="i_2019-12-31_ClassesOfShareCapitalAxis-OrdinarySharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="INF" id="c59809034" unitRef="iso4217-usd-per-xbrli-shares">2.44</ts:ClosingPricePerShare>
  <ts:ClosingPricePerShare contextRef="i_2019-12-31_ClassesOfShareCapitalAxis-PreferenceSharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="INF" id="c59809035" unitRef="iso4217-brl-per-xbrli-shares">9.51</ts:ClosingPricePerShare>
  <ts:ClosingPricePerShare contextRef="i_2019-12-31_ClassesOfShareCapitalAxis-PreferenceSharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="INF" id="c59809036" unitRef="iso4217-usd-per-xbrli-shares">2.36</ts:ClosingPricePerShare>
  <ts:ComprehensiveIncomeFromContinuingOperations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806370" unitRef="iso4217-usd">690095000</ts:ComprehensiveIncomeFromContinuingOperations>
  <ts:ComprehensiveIncomeFromContinuingOperations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806371" unitRef="iso4217-usd">776713000</ts:ComprehensiveIncomeFromContinuingOperations>
  <ts:ComprehensiveIncomeFromContinuingOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806372" unitRef="iso4217-usd">591989000</ts:ComprehensiveIncomeFromContinuingOperations>
  <ts:ComprehensiveIncomeFromDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" id="c59806373" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ComprehensiveIncomeFromDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" id="c59806374" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ComprehensiveIncomeFromDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806375" unitRef="iso4217-usd">91542000</ts:ComprehensiveIncomeFromDiscontinuedOperations>
  <ts:ConcentrationRiskPercentage contextRef="d_2018-01-01_2018-12-31_TypesOfRisksAxis-CustomerConcentrationRisk1Member" decimals="INF" id="c59807478" unitRef="xbrli-pure">0</ts:ConcentrationRiskPercentage>
  <ts:ConcentrationRiskPercentage contextRef="d_2019-01-01_2019-12-31_TypesOfRisksAxis-CounterpartyRiskMember" decimals="INF" id="c59807506" unitRef="xbrli-pure">0.96</ts:ConcentrationRiskPercentage>
  <ts:ConcentrationRiskPercentage contextRef="d_2018-01-01_2018-12-31_TypesOfRisksAxis-CounterpartyRiskMember" decimals="INF" id="c59807507" unitRef="xbrli-pure">0.83</ts:ConcentrationRiskPercentage>
  <ts:ConcentrationRiskPercentage contextRef="d_2017-01-01_2017-12-31_TypesOfRisksAxis-CustomerConcentrationRisk1Member" decimals="INF" id="c59807479" unitRef="xbrli-pure">0</ts:ConcentrationRiskPercentage>
  <ts:ConcentrationRiskPercentage contextRef="d_2019-01-01_2019-12-31_TypesOfRisksAxis-CustomerConcentrationRisk1Member" decimals="INF" id="c59807480" unitRef="xbrli-pure">0</ts:ConcentrationRiskPercentage>
  <ts:ConcentrationRiskPercentage contextRef="d_2019-01-01_2019-12-31_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="2" id="c59807573" unitRef="xbrli-pure">0.93</ts:ConcentrationRiskPercentage>
  <ts:ConcentrationRiskPercentage contextRef="d_2018-01-01_2018-12-31_TypesOfInterestRatesAxis-FixedInterestRateMember" decimals="2" id="c59807575" unitRef="xbrli-pure">0.97</ts:ConcentrationRiskPercentage>
  <ts:ConcentrationRiskPercentage contextRef="d_2019-01-01_2019-12-31_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="2" id="c59807577" unitRef="xbrli-pure">0.07</ts:ConcentrationRiskPercentage>
  <ts:ConcentrationRiskPercentage contextRef="d_2018-01-01_2018-12-31_TypesOfInterestRatesAxis-FloatingInterestRateMember" decimals="2" id="c59807579" unitRef="xbrli-pure">0.03</ts:ConcentrationRiskPercentage>
  <ts:CostOfSalesAllowanceForObsolescence contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808312" unitRef="iso4217-usd">29138000</ts:CostOfSalesAllowanceForObsolescence>
  <ts:CostOfSalesAllowanceForObsolescence contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808313" unitRef="iso4217-usd">25457000</ts:CostOfSalesAllowanceForObsolescence>
  <ts:CostOfSalesAllowanceForObsolescence contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808314" unitRef="iso4217-usd">-12917000</ts:CostOfSalesAllowanceForObsolescence>
  <ts:CostOfSalesAmortizationOfIntangibleAssets contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808303" unitRef="iso4217-usd">5948000</ts:CostOfSalesAmortizationOfIntangibleAssets>
  <ts:CostOfSalesAmortizationOfIntangibleAssets contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808304" unitRef="iso4217-usd">8220000</ts:CostOfSalesAmortizationOfIntangibleAssets>
  <ts:CostOfSalesAmortizationOfIntangibleAssets contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808305" unitRef="iso4217-usd">18621000</ts:CostOfSalesAmortizationOfIntangibleAssets>
  <ts:CostOfSalesDepreciationOfPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808300" unitRef="iso4217-usd">428791000</ts:CostOfSalesDepreciationOfPropertyPlantAndEquipment>
  <ts:CostOfSalesDepreciationOfPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808301" unitRef="iso4217-usd">432497000</ts:CostOfSalesDepreciationOfPropertyPlantAndEquipment>
  <ts:CostOfSalesDepreciationOfPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808302" unitRef="iso4217-usd">383490000</ts:CostOfSalesDepreciationOfPropertyPlantAndEquipment>
  <ts:CostOfSalesDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" id="c59808327" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:CostOfSalesDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" id="c59808328" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:CostOfSalesDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808329" unitRef="iso4217-usd">7403000</ts:CostOfSalesDiscontinuedOperations>
  <ts:CostOfSalesIncludingDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808321" unitRef="iso4217-usd">4849034000</ts:CostOfSalesIncludingDiscontinuedOperations>
  <ts:CostOfSalesIncludingDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808322" unitRef="iso4217-usd">5435337000</ts:CostOfSalesIncludingDiscontinuedOperations>
  <ts:CostOfSalesIncludingDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808323" unitRef="iso4217-usd">4496875000</ts:CostOfSalesIncludingDiscontinuedOperations>
  <ts:CostOfSalesLaborCost contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808297" unitRef="iso4217-usd">870261000</ts:CostOfSalesLaborCost>
  <ts:CostOfSalesLaborCost contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808298" unitRef="iso4217-usd">855040000</ts:CostOfSalesLaborCost>
  <ts:CostOfSalesLaborCost contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808299" unitRef="iso4217-usd">778408000</ts:CostOfSalesLaborCost>
  <ts:CostOfSalesMaintenanceExpenses contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808309" unitRef="iso4217-usd">284758000</ts:CostOfSalesMaintenanceExpenses>
  <ts:CostOfSalesMaintenanceExpenses contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808310" unitRef="iso4217-usd">185782000</ts:CostOfSalesMaintenanceExpenses>
  <ts:CostOfSalesMaintenanceExpenses contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808311" unitRef="iso4217-usd">183370000</ts:CostOfSalesMaintenanceExpenses>
  <ts:CostOfSalesOther contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808318" unitRef="iso4217-usd">115663000</ts:CostOfSalesOther>
  <ts:CostOfSalesOther contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808319" unitRef="iso4217-usd">119507000</ts:CostOfSalesOther>
  <ts:CostOfSalesOther contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808320" unitRef="iso4217-usd">88823000</ts:CostOfSalesOther>
  <ts:CostOfSalesRawMaterialsEnergyConsumablesAndOther contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808291" unitRef="iso4217-usd">2709629000</ts:CostOfSalesRawMaterialsEnergyConsumablesAndOther>
  <ts:CostOfSalesRawMaterialsEnergyConsumablesAndOther contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808292" unitRef="iso4217-usd">3400396000</ts:CostOfSalesRawMaterialsEnergyConsumablesAndOther>
  <ts:CostOfSalesRawMaterialsEnergyConsumablesAndOther contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808293" unitRef="iso4217-usd">2794503000</ts:CostOfSalesRawMaterialsEnergyConsumablesAndOther>
  <ts:CostOfSalesServicesAndFees contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808294" unitRef="iso4217-usd">222415000</ts:CostOfSalesServicesAndFees>
  <ts:CostOfSalesServicesAndFees contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808295" unitRef="iso4217-usd">275130000</ts:CostOfSalesServicesAndFees>
  <ts:CostOfSalesServicesAndFees contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808296" unitRef="iso4217-usd">244035000</ts:CostOfSalesServicesAndFees>
  <ts:CostOfSalesTaxes contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808315" unitRef="iso4217-usd">100738000</ts:CostOfSalesTaxes>
  <ts:CostOfSalesTaxes contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808316" unitRef="iso4217-usd">133308000</ts:CostOfSalesTaxes>
  <ts:CostOfSalesTaxes contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808317" unitRef="iso4217-usd">18542000</ts:CostOfSalesTaxes>
  <ts:CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets contextRef="d_2019-01-01_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807928" unitRef="iso4217-usd">-337000</ts:CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets>
  <ts:CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets contextRef="d_2018-01-01_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" decimals="-3" id="c59807929" unitRef="iso4217-usd">-192000</ts:CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets>
  <ts:CurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2019-12-31_BorrowingsByNameAxis-BankBorrowingsMember" decimals="-3" id="c59809318" unitRef="iso4217-usd">781258000</ts:CurrentBorrowingsBeforeCostsOfIssueOfDebt>
  <ts:CurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-BankBorrowingsMember" decimals="-3" id="c59809319" unitRef="iso4217-usd">508143000</ts:CurrentBorrowingsBeforeCostsOfIssueOfDebt>
  <ts:CurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2019-12-31_BorrowingsByNameAxis-BankOverdrafts1Member" decimals="-3" id="c59809320" unitRef="iso4217-usd">24000</ts:CurrentBorrowingsBeforeCostsOfIssueOfDebt>
  <ts:CurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-BankOverdrafts1Member" decimals="-3" id="c59809321" unitRef="iso4217-usd">1644000</ts:CurrentBorrowingsBeforeCostsOfIssueOfDebt>
  <ts:CurrentCostsOfIssueOfDebt contextRef="i_2019-12-31" decimals="-3" id="c59809324" unitRef="iso4217-usd">10000</ts:CurrentCostsOfIssueOfDebt>
  <ts:CurrentCostsOfIssueOfDebt contextRef="i_2018-12-31" decimals="-3" id="c59809325" unitRef="iso4217-usd">11000</ts:CurrentCostsOfIssueOfDebt>
  <ts:CurrentEmployeeRelatedLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59810116" unitRef="iso4217-usd">153009000</ts:CurrentEmployeeRelatedLiabilities>
  <ts:CurrentEmployeeRelatedLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59810117" unitRef="iso4217-usd">148069000</ts:CurrentEmployeeRelatedLiabilities>
  <ts:CurrentIncomeTaxLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59809200" unitRef="iso4217-usd">64994000</ts:CurrentIncomeTaxLiabilities>
  <ts:CurrentIncomeTaxLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59809201" unitRef="iso4217-usd">182711000</ts:CurrentIncomeTaxLiabilities>
  <ts:CurrentOtherTaxLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59809204" unitRef="iso4217-usd">52678000</ts:CurrentOtherTaxLiabilities>
  <ts:CurrentOtherTaxLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59809205" unitRef="iso4217-usd">49431000</ts:CurrentOtherTaxLiabilities>
  <ts:CurrentPrepaidTaxes contextRef="i_2019-12-31" decimals="-3" id="c59809196" unitRef="iso4217-usd">55227000</ts:CurrentPrepaidTaxes>
  <ts:CurrentPrepaidTaxes contextRef="i_2018-12-31" decimals="-3" id="c59809197" unitRef="iso4217-usd">54010000</ts:CurrentPrepaidTaxes>
  <ts:CurrentTradeReceivablesAllowanceForDoubtfulAccounts contextRef="i_2019-12-31" decimals="-3" id="c59809215" unitRef="iso4217-usd">48782000</ts:CurrentTradeReceivablesAllowanceForDoubtfulAccounts>
  <ts:CurrentTradeReceivablesAllowanceForDoubtfulAccounts contextRef="i_2018-12-31" decimals="-3" id="c59809216" unitRef="iso4217-usd">66535000</ts:CurrentTradeReceivablesAllowanceForDoubtfulAccounts>
  <ts:CurrentTradeReceivablesCurrentAccounts contextRef="i_2019-12-31" decimals="-3" id="c59809209" unitRef="iso4217-usd">1387494000</ts:CurrentTradeReceivablesCurrentAccounts>
  <ts:CurrentTradeReceivablesCurrentAccounts contextRef="i_2018-12-31" decimals="-3" id="c59809210" unitRef="iso4217-usd">1778796000</ts:CurrentTradeReceivablesCurrentAccounts>
  <ts:CurrentTradeReceivablesExpectedLossRate contextRef="i_2019-12-31" decimals="4" id="c59809232" unitRef="xbrli-pure">0.0009</ts:CurrentTradeReceivablesExpectedLossRate>
  <ts:CurrentTradeReceivablesExpectedLossRate contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="4" id="c59809233" unitRef="xbrli-pure">0.0004</ts:CurrentTradeReceivablesExpectedLossRate>
  <ts:CurrentTradeReceivablesExpectedLossRate contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="4" id="c59809234" unitRef="xbrli-pure">0.0024</ts:CurrentTradeReceivablesExpectedLossRate>
  <ts:CurrentTradeReceivablesExpectedLossRate contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="4" id="c59809235" unitRef="xbrli-pure">0.0057</ts:CurrentTradeReceivablesExpectedLossRate>
  <ts:CurrentTradeReceivablesExpectedLossRate contextRef="i_2018-12-31" decimals="4" id="c59809261" unitRef="xbrli-pure">0.0007</ts:CurrentTradeReceivablesExpectedLossRate>
  <ts:CurrentTradeReceivablesExpectedLossRate contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="4" id="c59809262" unitRef="xbrli-pure">0.0004</ts:CurrentTradeReceivablesExpectedLossRate>
  <ts:CurrentTradeReceivablesExpectedLossRate contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="4" id="c59809263" unitRef="xbrli-pure">0.0017</ts:CurrentTradeReceivablesExpectedLossRate>
  <ts:CurrentTradeReceivablesExpectedLossRate contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="4" id="c59809264" unitRef="xbrli-pure">0.0043</ts:CurrentTradeReceivablesExpectedLossRate>
  <ts:CurrentTradeReceivablesGross contextRef="i_2019-12-31" decimals="-3" id="c59809213" unitRef="iso4217-usd">1396942000</ts:CurrentTradeReceivablesGross>
  <ts:CurrentTradeReceivablesGross contextRef="i_2018-12-31" decimals="-3" id="c59809214" unitRef="iso4217-usd">1803901000</ts:CurrentTradeReceivablesGross>
  <ts:CurrentTradeReceivablesGross contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809229" unitRef="iso4217-usd">1154213000</ts:CurrentTradeReceivablesGross>
  <ts:CurrentTradeReceivablesGross contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809230" unitRef="iso4217-usd">184859000</ts:CurrentTradeReceivablesGross>
  <ts:CurrentTradeReceivablesGross contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809231" unitRef="iso4217-usd">57870000</ts:CurrentTradeReceivablesGross>
  <ts:CurrentTradeReceivablesGross contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809258" unitRef="iso4217-usd">1435531000</ts:CurrentTradeReceivablesGross>
  <ts:CurrentTradeReceivablesGross contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809259" unitRef="iso4217-usd">291559000</ts:CurrentTradeReceivablesGross>
  <ts:CurrentTradeReceivablesGross contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809260" unitRef="iso4217-usd">76811000</ts:CurrentTradeReceivablesGross>
  <ts:CurrentTradeReceivablesGuaranteed contextRef="i_2019-12-31" decimals="-3" id="c59809220" unitRef="iso4217-usd">234427000</ts:CurrentTradeReceivablesGuaranteed>
  <ts:CurrentTradeReceivablesGuaranteed contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809221" unitRef="iso4217-usd">205764000</ts:CurrentTradeReceivablesGuaranteed>
  <ts:CurrentTradeReceivablesGuaranteed contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809222" unitRef="iso4217-usd">26899000</ts:CurrentTradeReceivablesGuaranteed>
  <ts:CurrentTradeReceivablesGuaranteed contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809223" unitRef="iso4217-usd">1764000</ts:CurrentTradeReceivablesGuaranteed>
  <ts:CurrentTradeReceivablesGuaranteed contextRef="i_2018-12-31" decimals="-3" id="c59809249" unitRef="iso4217-usd">286250000</ts:CurrentTradeReceivablesGuaranteed>
  <ts:CurrentTradeReceivablesGuaranteed contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809250" unitRef="iso4217-usd">254743000</ts:CurrentTradeReceivablesGuaranteed>
  <ts:CurrentTradeReceivablesGuaranteed contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809251" unitRef="iso4217-usd">30884000</ts:CurrentTradeReceivablesGuaranteed>
  <ts:CurrentTradeReceivablesGuaranteed contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809252" unitRef="iso4217-usd">623000</ts:CurrentTradeReceivablesGuaranteed>
  <ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts contextRef="i_2019-12-31" decimals="-3" id="c59809240" unitRef="iso4217-usd">47488000</ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts>
  <ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" id="c59809241" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809242" unitRef="iso4217-usd">1922000</ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts>
  <ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809243" unitRef="iso4217-usd">45566000</ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts>
  <ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts contextRef="i_2018-12-31" decimals="-3" id="c59809269" unitRef="iso4217-usd">65139000</ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts>
  <ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" id="c59809270" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809271" unitRef="iso4217-usd">1436000</ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts>
  <ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809272" unitRef="iso4217-usd">63703000</ts:CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts>
  <ts:CurrentTradeReceivablesNotGuaranteed contextRef="i_2019-12-31" decimals="-3" id="c59809224" unitRef="iso4217-usd">1162515000</ts:CurrentTradeReceivablesNotGuaranteed>
  <ts:CurrentTradeReceivablesNotGuaranteed contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809225" unitRef="iso4217-usd">948449000</ts:CurrentTradeReceivablesNotGuaranteed>
  <ts:CurrentTradeReceivablesNotGuaranteed contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809226" unitRef="iso4217-usd">157960000</ts:CurrentTradeReceivablesNotGuaranteed>
  <ts:CurrentTradeReceivablesNotGuaranteed contextRef="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809227" unitRef="iso4217-usd">56106000</ts:CurrentTradeReceivablesNotGuaranteed>
  <ts:CurrentTradeReceivablesNotGuaranteed contextRef="i_2018-12-31" decimals="-3" id="c59809253" unitRef="iso4217-usd">1517651000</ts:CurrentTradeReceivablesNotGuaranteed>
  <ts:CurrentTradeReceivablesNotGuaranteed contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember" decimals="-3" id="c59809254" unitRef="iso4217-usd">1180788000</ts:CurrentTradeReceivablesNotGuaranteed>
  <ts:CurrentTradeReceivablesNotGuaranteed contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember" decimals="-3" id="c59809255" unitRef="iso4217-usd">260675000</ts:CurrentTradeReceivablesNotGuaranteed>
  <ts:CurrentTradeReceivablesNotGuaranteed contextRef="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember" decimals="-3" id="c59809256" unitRef="iso4217-usd">76188000</ts:CurrentTradeReceivablesNotGuaranteed>
  <ts:DebtInstrumentsPercentContributedToFairValueOfPlanAssets contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="3" id="c59810112" unitRef="xbrli-pure">0.47</ts:DebtInstrumentsPercentContributedToFairValueOfPlanAssets>
  <ts:DebtInstrumentsPercentContributedToFairValueOfPlanAssets contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="3" id="c59810113" unitRef="xbrli-pure">0.428</ts:DebtInstrumentsPercentContributedToFairValueOfPlanAssets>
  <ts:DebtServiceCoverageRatioCoveredPercent contextRef="i_2019-12-31_BorrowingsByNameAxis-SeveralBanksToRefinanceObligationsMember" decimals="INF" id="c59809056" unitRef="xbrli-pure">0.22</ts:DebtServiceCoverageRatioCoveredPercent>
  <ts:DebtToEquityRatio contextRef="i_2019-12-31" decimals="INF" id="c59807442" unitRef="xbrli-pure">0.06</ts:DebtToEquityRatio>
  <ts:DebtToEquityRatio contextRef="i_2018-12-31" decimals="INF" id="c59807443" unitRef="xbrli-pure">0.04</ts:DebtToEquityRatio>
  <ts:DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember" decimals="-3" id="c59809852" unitRef="iso4217-usd">952000</ts:DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards>
  <ts:DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember" id="c59809853" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember" id="c59809854" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember" decimals="-3" id="c59809855" unitRef="iso4217-usd">-164000</ts:DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards>
  <ts:DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember" decimals="-3" id="c59809856" unitRef="iso4217-usd">788000</ts:DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards>
  <ts:DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries contextRef="i_2019-12-31_GeographicalAreasAxis-US" decimals="-5" id="c59809479" unitRef="iso4217-usd">338000000</ts:DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries>
  <ts:DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember" id="c59809627" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember" id="c59809628" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" decimals="-3" id="c59809629" unitRef="iso4217-usd">35000</ts:DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards>
  <ts:DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember" decimals="-3" id="c59809630" unitRef="iso4217-usd">35000</ts:DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards>
  <ts:DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2019-01-01_2019-12-31" id="c59809941" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59809942" unitRef="iso4217-usd">823000</ts:DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards>
  <ts:DeferredTaxTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-43">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Deferred tax assets&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(225,680&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(181,606&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Deferred tax liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;336,982&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;379,039&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;111,302&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;197,433&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;197,433&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;304,438&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of adoption of new standards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;823&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,100&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,171&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,847&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to Other Comprehensive Income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(838&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,898&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement credit&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(97,240&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(113,897&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;111,302&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;197,433&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DeferredTaxTextBlock>
  <ts:DelistingOfSharesFromStockExchangeExplanatory contextRef="d_2019-01-01_2019-12-31" id="s1523859">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 2.75pt"&gt;&lt;/td&gt; &lt;td style="width: 36pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;34&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Delisting of Tenaris&amp;#x2019;s shares from the Buenos Aires stock exchange&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; July 29, 2019, &lt;/div&gt;the General Shareholders Meeting approved the delisting of the Company&amp;#x2019;s shares from the Buenos Aires stock exchange, Bolsas y Mercados Argentinos S.A. (&amp;#x201c;BYMA&amp;#x201d;), through a voluntarily withdrawal from listing of the Argentine National Securities Commission (Comisi&amp;oacute;n Nacional de Valores, or &amp;#x201c;CNV&amp;#x201d;) pursuant to Article &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32,&lt;/div&gt; clause c), Section VIII, Chapter II of Title III of the rules (Normas) of the CNV, which permits the Company to delist from BYMA without making a delisting public tender offer. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; September 19, 2019, &lt;/div&gt;the CNV authorized the delisting of the Company&amp;#x2019;s shares in Argentina, and such delisting became effective as of the close of business on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; October 10, 2019.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Although shareholders holding shares through Caja de Valores S.A. (&amp;#x201c;CVSA&amp;#x201d;) on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 11, 2019 &lt;/div&gt;who were absent from the General Shareholders Meeting were entitled to appraisal rights provided pursuant to article &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22&lt;/div&gt; of the Company&amp;#x2019;s articles of association, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; shareholder eligible to do so exercised such right.&lt;/div&gt;&lt;/div&gt;</ts:DelistingOfSharesFromStockExchangeExplanatory>
  <ts:DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808306" unitRef="iso4217-usd">28727000</ts:DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales>
  <ts:DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales contextRef="d_2018-01-01_2018-12-31" id="c59808307" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales contextRef="d_2017-01-01_2017-12-31" id="c59808308" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59810246" unitRef="iso4217-usd">18115000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59810247" unitRef="iso4217-usd">-2753000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810250" unitRef="iso4217-usd">18999000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810251" unitRef="iso4217-usd">888000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810256" unitRef="iso4217-usd">-576000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810257" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810262" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810263" unitRef="iso4217-usd">-6542000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810268" unitRef="iso4217-usd">588000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810269" unitRef="iso4217-usd">203000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810274" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember_TypesOfHedgesAxis-CashFlowHedgesMember" id="c59810275" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810280" unitRef="iso4217-usd">-234000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810281" unitRef="iso4217-usd">-131000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810286" unitRef="iso4217-usd">-190000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810287" unitRef="iso4217-usd">271000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810292" unitRef="iso4217-usd">103000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810293" unitRef="iso4217-usd">522000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810298" unitRef="iso4217-usd">-200000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810299" unitRef="iso4217-usd">2089000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810304" unitRef="iso4217-usd">-345000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810305" unitRef="iso4217-usd">-23000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractOtherMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810310" unitRef="iso4217-usd">-30000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractOtherMember_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810311" unitRef="iso4217-usd">-30000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2019-12-31_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810316" unitRef="iso4217-usd">18115000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DerivativeFinancialAssetsLiabilities contextRef="i_2018-12-31_TypesOfHedgesAxis-CashFlowHedgesMember" decimals="-3" id="c59810317" unitRef="iso4217-usd">-2753000</ts:DerivativeFinancialAssetsLiabilities>
  <ts:DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock contextRef="d_2019-01-01_2019-12-31" id="c59807102">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;A&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Basis of presentation&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial Reporting Standards (&amp;#x201c;IFRS&amp;#x201d;), as issued by the International Accounting Standards Board (&amp;#x201c;IASB&amp;#x201d;) and in accordance with IFRS as adopted by the European Union, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities (including derivative instruments) and plan assets at fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of U.S. dollars (&amp;#x201c;$&amp;#x201d;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Whenever necessary, certain comparative amounts have been reclassified to conform to changes in presentation in the current year.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Following the sale of the steel electric conduit business in North America, known as Republic Conduit, in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 2017, &lt;/div&gt;the results of the mentioned business are presented as discontinued operations in accordance with IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,&lt;/div&gt; "Non-current Assets Held for Sale and Discontinued Operations". Consequently, all comparative amounts related to discontinued operations within each line item of the Consolidated Income Statement are reclassified into discontinued operations. The Consolidated Statement of Cash Flows includes the cash flows for continuing and discontinued operations. Cash flows from discontinued operations and earnings per share are disclosed separately in Note &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,&lt;/div&gt; as well as additional information detailing net assets of disposal group classified as held for sale and discontinued operations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make certain accounting estimates and assumptions that might affect among others, the reported amounts of assets, liabilities, contingent assets and liabilities, revenues and expenses. Actual results &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;differ from these estimates. The main areas involving significant estimates or judgements are: Impairment of goodwill and long-lived assets (note II.G); Income Taxes (note II.N); Loss contingencies (note II.P); Defined benefit obligations (note II.O), Business Combinations (notes II.B, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;III.27&lt;/div&gt;); Useful lives of property, plant and equipment and other long-lived assets (notes II.E, II.F, II.G).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top; text-align: justify"&gt; &lt;td style="width: 35pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5pt"&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Accounting pronouncements applicable as from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019 &lt;/div&gt;and relevant for Tenaris&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,&lt;/div&gt; &amp;#x201c;Leases&amp;#x201d;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris has adopted IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16&lt;/div&gt; &amp;#x201c;Leases&amp;#x201d; from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019. &lt;/div&gt;In accordance with the transition provisions in IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,&lt;/div&gt; Tenaris has adopted the new rules using the modified retrospective approach, meaning that reclassifications of the adoption was recognized in the opening balance sheet as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019 &lt;/div&gt;and that comparatives were &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; restated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Upon adoption of IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,&lt;/div&gt; Tenaris recognized lease liabilities in relation to leases which had previously been classified as &amp;#x201c;operating leases&amp;#x201d; under the principles of IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17&lt;/div&gt; &amp;#x201c;Leases&amp;#x201d;. These liabilities were measured at the present value of the remaining lease payments, discounted using the lessee&amp;#x2019;s incremental borrowing rate as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019. &lt;/div&gt;The associated right-of-use assets were measured at the amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments relating to that lease recognized in the balance sheet as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2018. &lt;/div&gt;The difference between the amount of the lease liability recognized in the statement of financial position at the date of initial application and the operating lease commitments under IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17&lt;/div&gt; is related to leases with a duration lower than &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; months, low value leases and/or leases with clauses related to variable payments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the lease term on a straight-line basis.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Lease liabilities include the net present value of i) fixed payments, less any lease incentives receivable, ii) variable lease payments that are based on an index or a rate, iii) amounts expected to be payable by the lessee under residual value guarantees, iv) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and v) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee&amp;#x2019;s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Right-of-use assets are measured at cost comprising the amount of the initial measurement of lease liability, any lease payments made at or before the commencement date less any lease incentives received and any initial direct costs incurred by the lessee.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 28.05pt; font-size: 10pt; text-align: justify; text-indent: -28.05pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expenses in profit or loss. Short-term leases are leases with a lease term of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; months or less. Low-value comprise mainly IT equipment and small items of office furniture.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; terminated).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;IFRIC &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,&lt;/div&gt; "Uncertainty over Income Tax Treatments"&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tenaris has adopted IFRIC &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23&lt;/div&gt; &amp;#x201c;Uncertainty over Income Tax Treatments&amp;#x201d; from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 1, 2019. &lt;/div&gt;This interpretation clarifies how the recognition and measurement requirements of IAS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12&lt;/div&gt; &amp;#x201c;Income taxes&amp;#x201d; are applied where there is uncertainty over income tax treatments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other accounting pronouncements that became effective during &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; have &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; material effect on the Company&amp;#x2019;s financial condition or results of operations.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ts:DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock>
  <ts:DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock contextRef="d_2019-01-01_2019-12-31" id="c59807128">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;N&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Current and Deferred income tax&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The income tax expense or credit for the period is the tax payable on the current period&amp;#x2019;s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. Tax is recognized in the Consolidated Income Statement, except for tax items recognized in other comprehensive income or directly in equity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the reporting date in the countries where the Company&amp;#x2019;s subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions when appropriate.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred income tax is recognized applying the liability method on temporary differences arising between the tax basis of assets and liabilities and their carrying amounts in the financial statements. The principal temporary differences arise from the effect of currency translation on depreciable fixed assets and inventories, depreciation on property, plant and equipment, valuation of inventories, provisions for pension plans and fair value adjustments of assets acquired in business combinations. Deferred tax assets are also recognized for net operating loss carry-forwards. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the time period when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted at the reporting date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets are recognized to the extent that it is probable that future taxable income will be available against which the temporary differences can be utilized. At the end of each reporting period, Tenaris reassesses unrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax asset to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax liabilities and assets are &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; recognized for temporary differences between the carrying amount and tax basis of investments in foreign operations where the company is able to control the timing of the reversal of the temporary differences and it is probable that the differences will &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; reverse in the foreseeable future.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets and liabilities are re-measured if tax rates change. These amounts are charged or credited to the Consolidated Income Statement or to the item &lt;div style="display: inline; font-style: italic;"&gt;Other comprehensive income for the year &lt;/div&gt;in the Consolidated Statement of Comprehensive Income, depending on the account to which the original amount was charged or credited.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ts:DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock>
  <ts:DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-34">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Cash at banks&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118,314&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81,211&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Liquidity funds&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,166,697&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,198&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Short &amp;#x2013; term investments&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;269,288&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;186,952&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,554,299&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,361&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Other investments - current&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fixed Income (time-deposit, zero coupon bonds, commercial papers)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;65,874&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,410&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bonds and other fixed Income&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,502&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;187,324&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;210,376&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;487,734&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Other investments - Non-current&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bonds and other fixed Income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,829&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,934&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118,155&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock>
  <ts:DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-33">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Past due&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: center; font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Trade Receivables&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Not Due&lt;/div&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;1 - 180 days&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;gt;180 days&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 44%; font-size: 10pt"&gt;Guaranteed&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;234,427&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;205,764&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;26,899&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,764&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Not guaranteed&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,162,515&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;948,449&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;157,960&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;56,106&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Guaranteed and not guaranteed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,396,942&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,154,213&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;184,859&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;57,870&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected loss rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.09&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.04&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.24&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.57&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,294&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(529&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(455&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(310&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Nominative allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(47,488&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,922&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(45,566&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Net Value&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,153,684&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;182,482&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,994&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Past due&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Trade Receivables&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Not Due&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;1 - 180 days&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;gt;180 days&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 44%; font-size: 10pt"&gt;Guaranteed&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;286,250&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;254,743&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,884&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;623&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Not guaranteed&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,517,651&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,180,788&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;260,675&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;76,188&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Guaranteed and not guaranteed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,803,901&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,435,531&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;291,559&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;76,811&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected loss rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.07&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.04&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.17&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.43&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,396&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(564&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(510&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(322&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Nominative allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(65,139&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,436&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(63,703&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Net Value&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,434,967&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;289,613&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,786&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock>
  <ts:DisclosureOfActuarialAssumptionsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-46">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="5" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Year ended December 31,&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Discount rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1%&lt;/div&gt; - &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2%&lt;/div&gt; - &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Rate of compensation increase&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0%&lt;/div&gt; - &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0%&lt;/div&gt; - &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Year ended December 31,&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Discount rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3 % - 4 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4 % - 5 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Rate of compensation increase&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0 % - 3 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0 % - 3 %&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfActuarialAssumptionsTextBlock>
  <ts:DisclosureOfAuditorsRemunerationTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-62">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Audit fees&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,846&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,841&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,995&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Audit-related fees&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;50&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;43&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax fees&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;All other fees&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,904&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,891&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfAuditorsRemunerationTextBlock>
  <ts:DisclosureOfBorrowingsEvolutionTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-40">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Non current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Current&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,187&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,820&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(229&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;669&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Proceeds and repayments, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,582&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;203,931&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interests accrued less payments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;304&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,950&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,733&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,733&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to Business Combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27,933&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;53,789&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Overdrafts variation&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,620&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,880&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfBorrowingsEvolutionTextBlock>
  <ts:DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock contextRef="d_2019-01-01_2019-12-31" id="s1523797">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cash and cash equivalents and other investments&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Cash at banks&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118,314&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81,211&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Liquidity funds&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,166,697&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,198&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Short &amp;#x2013; term investments&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;269,288&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;186,952&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,554,299&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,361&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Other investments - current&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fixed Income (time-deposit, zero coupon bonds, commercial papers)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;65,874&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,410&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bonds and other fixed Income&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,502&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;187,324&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;210,376&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;487,734&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Other investments - Non-current&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bonds and other fixed Income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,829&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,934&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118,155&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ts:DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock>
  <ts:DisclosureOfCurrentAllowancesAndProvisionsTextBlock contextRef="d_2019-01-01_2019-12-31" id="s1523830">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 38.75pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Current allowances and provisions&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: normal"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(i)&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Deducted from assets&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for doubtful&lt;br /&gt; accounts - Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for other doubtful&lt;br /&gt; accounts - Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for &lt;br /&gt; inventory obsolescence&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 49%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(66,535&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,784&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(209,796&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;794&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,788&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,761&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional / reversals allowances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,256&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,239&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(29,138&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,276&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;565&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,184&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(48,782&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,892&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(217,717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for doubtful&lt;br /&gt; accounts - Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for other doubtful&lt;br /&gt; accounts - Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for &lt;br /&gt; inventory obsolescence&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 49%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(78,385&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,255&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(216,068&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of adoption of new standards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,423&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;329&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;359&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,575&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional allowances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,751&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,179&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(25,457&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,849&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;291&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,154&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(66,535&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,784&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(209,796&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 152 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(ii)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic;"&gt;Liabilities&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Sales risks&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other claims and&lt;br /&gt; contingencies&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,814&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,469&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,283&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(28&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(570&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(598&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;505&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,000&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,505&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional/ reversals provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,880&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,219&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,661&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,641&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,641&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(13,304&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,889&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(18,193&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,867&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,150&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Sales risks&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other claims and&lt;br /&gt; contingencies&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,396&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,934&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32,330&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(103&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,205&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,308&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,638&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,463&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,101&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,406&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,406&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,117&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,129&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,246&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,469&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,283&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ts:DisclosureOfCurrentAllowancesAndProvisionsTextBlock>
  <ts:DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-41">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fixed assets (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Intangible and Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;710,995&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,048&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46,532&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;782,575&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(347&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(351&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,621&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,209&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;423&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;423&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement charge / (credit)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(64,930&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,652&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59,902&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,680&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;651,339&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,396&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118,062&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;788,797&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fixed assets (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Intangible and Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;744,926&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;34,934&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,585&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;835,445&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of adoption of new standards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(876&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;92&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(784&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;288&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;288&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement charge&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(33,055&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,886&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,468&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(52,409&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;710,995&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,048&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46,532&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;782,575&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Provisions and&lt;br /&gt; allowances&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Tax losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16,116&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,585&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(396,257&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,184&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(585,142&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;362&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;306&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;497&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;286&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,160&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,413&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,172&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,238&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,983&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,261&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,261&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement charge / (credit)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,739&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,712&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,100&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(92,209&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,560&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(19,653&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(93,404&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(382,832&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(181,606&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(677,495&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Provisions and&lt;br /&gt; allowances&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Tax losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(26,475&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(89,555&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(354,944&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(60,033&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(531,007&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of adoption of new standards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;952&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(164&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;788&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,532&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,447&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,014&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(38&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,955&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Charged directly to other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,587&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,610&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income statement charge / (credit)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,852&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,523&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(42,327&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27,536&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(61,488&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16,116&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,585&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(396,257&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(86,184&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(585,142&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-39">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Interest rates&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 37%; font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 36%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,370&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,762&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;SAR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,106&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,108&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,023&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,296&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,402&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total non-current borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,880&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,187&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Interest rates&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 37%; font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 36%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,092&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,847&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;274,799&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;138,303&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;198&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;EUR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,772&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,178&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;MXN&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;424,964&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;301,047&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;ARS&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49,125&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;SAR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;35,666&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;SAR&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,797&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Variable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Fixed&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;33&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total current borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,820&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock>
  <ts:DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-57">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="2" style="text-align: left; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="2" style="text-align: left; font-size: 10pt"&gt;(i)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;Changes in working capital&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 3%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 56%; font-size: 10pt"&gt;Inventories&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;311,459&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(176,443&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(804,415&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivables and prepayments and Current tax assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(34,368&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,144&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,564&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(517,579&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(259,375&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(18,295&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(22,984&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,226&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Customer advances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,844&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,976&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,039&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(180,857&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(57,066&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;193,905&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;523,109&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(737,952&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(853,184&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(ii)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Income tax accruals less payments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax accrued&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,452&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229,207&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,136&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Taxes paid&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(395,869&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(170,713&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(176,853&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(193,417&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;58,494&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(193,989&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(iii)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest accruals less payments, net&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest accrued&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,616&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,914&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(20,534&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest received&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,890&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,613&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;50,001&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest paid&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(30,655&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(31,548&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,917&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,381&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,151&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,550&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(iv)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash at banks, liquidity funds and short - term investments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,554,299&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,361&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;330,221&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bank overdrafts&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(24&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,644&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(131&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,554,275&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;426,717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;330,090&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock>
  <ts:DisclosureOfDetailedInformationAboutCostOfSalesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-11">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Inventories at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,524,341&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,368,304&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,563,889&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase in inventory due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,966&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Plus: Charges of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Raw materials, energy, consumables and other&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,709,629&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,400,396&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,794,503&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Services and fees&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;222,415&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;275,130&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;244,035&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Labor cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;870,261&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;855,040&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;778,408&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Depreciation of property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,791&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;432,497&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;383,490&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Amortization of intangible assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,948&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,220&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,621&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Depreciation of right-of-use assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,727&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Maintenance expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;284,758&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;185,782&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;183,370&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Allowance for obsolescence&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,138&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,457&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(12,917&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;100,738&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;133,308&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,542&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;115,663&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;119,507&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;88,823&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,849,034&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,435,337&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,496,875&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Less: Inventories at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,265,880&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,524,341&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,368,304&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,403&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,107,495&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,279,300&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,685,057&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutCostOfSalesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-51">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for doubtful&lt;br /&gt; accounts - Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for other doubtful&lt;br /&gt; accounts - Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for &lt;br /&gt; inventory obsolescence&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 49%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(66,535&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,784&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(209,796&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;794&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,788&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,761&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional / reversals allowances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,256&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,239&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(29,138&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,276&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;565&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,184&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(48,782&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,892&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(217,717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for doubtful&lt;br /&gt; accounts - Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for other doubtful&lt;br /&gt; accounts - Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Allowance for &lt;br /&gt; inventory obsolescence&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 49%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(78,385&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,255&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(216,068&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of adoption of new standards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,423&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;329&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;359&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,575&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional allowances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,751&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,179&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(25,457&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,849&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;291&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,154&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(66,535&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,784&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(209,796&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock>
  <ts:DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-52">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Sales risks&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other claims and&lt;br /&gt; contingencies&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,814&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,469&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,283&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(28&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(570&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(598&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;505&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,000&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,505&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional/ reversals provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,880&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,219&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,661&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,641&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,641&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(13,304&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,889&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(18,193&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,867&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,150&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Sales risks&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Other claims and&lt;br /&gt; contingencies&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,396&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,934&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;32,330&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(103&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,205&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,308&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,638&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,463&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,101&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,406&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,406&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,117&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,129&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,246&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,469&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,283&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-30">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current tax assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;V.A.T. credits&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;112,161&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;67,322&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Prepaid taxes&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,227&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,010&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;167,388&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;121,332&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock>
  <ts:DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-32">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Current accounts&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,387,494&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,778,796&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Receivables from related parties&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,448&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,105&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,396,942&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,803,901&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Allowance for doubtful accounts (see Note 23 (i))&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(48,782&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(66,535&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-53">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Derivatives hedging borrowings and investments&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,000&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,604&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other Derivatives&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;929&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,621&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Contracts with positive fair values (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,929&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,225&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Derivatives hedging borrowings and investments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,667&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other Derivatives&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(311&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Contracts with negative fair values&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,115&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,753&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock>
  <ts:DisclosureOfDetailedInformationAboutFinancialIncomeCost contextRef="d_2019-01-01_2019-12-31" id="c-16">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-left: 10pt; width: 55%; font-size: 10pt; text-align: justify"&gt;Interest Income&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,061&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42,244&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;51,525&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;Net result on changes in FV of financial assets at FVPL&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(64&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,388&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,920&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Finance income (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47,997&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;39,856&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;47,605&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Finance cost&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(43,381&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(36,942&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27,072&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-left: 10pt; font-size: 10pt; text-align: justify"&gt;Net foreign exchange transactions results (**)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27,868&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,845&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(48,955&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-left: 10pt; font-size: 10pt; text-align: justify"&gt;Foreign exchange derivatives contracts results (***)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(11,616&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,576&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(8,996&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,585&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,035&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,392&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Other financial results&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,667&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;34,386&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(43,559&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify"&gt;Net financial results&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,283&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;37,300&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(23,026&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,283&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;37,300&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(23,017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutFinancialIncomeCost>
  <ts:DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-6">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Measurement Categories&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;At Fair Value&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;December 31, 2019&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Carrying &lt;br /&gt;amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized Cost&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;FVOCI&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;FVPL&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,554,299&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;387,602&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,166,697&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,166,697&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Other investments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;210,376&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;65,874&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,502&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;134,990&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,512&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Fixed income (time-deposit, zero coupon bonds, commercial papers)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;65,874&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;65,874&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Certificates of deposits&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Commercial papers&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,993&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,993&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other notes&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,244&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,244&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Bonds and other fixed income&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,502&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144,502&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;134,990&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,512&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;U.S. government securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,211&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,211&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,211&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non - U.S. government securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,125&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,512&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Corporates securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;105,654&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;105,654&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;105,654&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,929&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,929&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,929&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Other Investments Non-current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,934&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bonds and other fixed income&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other investments&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,348,160&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Receivables C and NC (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;261,678&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93,239&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;141,898&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;93,239&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Other receivables (non-financial)&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;119,780&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,894,875&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;211,173&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,193,548&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,319,699&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;29,441&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;55,581&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Borrowings C and NC&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;555,887&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;555,887&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Finance Lease Liabilities C and NC&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;230,167&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;230,167&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,608,206&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Measurement Categories&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;At Fair Value&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;December 31, 2018&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Carrying amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized Cost&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;FVOCI&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;FVPL&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;428,361&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;268,163&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,198&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;160,198&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Other investments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;487,734&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,410&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;166,094&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,230&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;168,165&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Fixed income (time-deposit, zero coupon bonds, commercial papers)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;300,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Certificates of deposits&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;198,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;198,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Commercial papers&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,932&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,932&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other notes&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;91,566&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;91,566&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Bonds and other fixed income&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;187,324&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;166,094&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,230&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;168,165&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;U.S. government securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,077&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,077&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,077&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non - U.S. government securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,912&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Corporates securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;142,176&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;140,105&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,071&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;142,176&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Structured notes&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,159&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Other Investments Non-current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118,155&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bonds and other fixed income&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;113,830&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other investments&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,326&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,737,366&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Receivables C and NC (*)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;307,790&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;139,474&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,711&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;188,185&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;139,474&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,711&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Other receivables (non-financial)&lt;/td&gt; &lt;td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;119,605&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,445,413&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;328,635&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194,927&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;442,193&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,384&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,985&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Borrowings C and NC&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;693,673&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;693,673&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,232,680&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,978&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock>
  <ts:DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-17">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Current tax&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;299,692&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;343,104&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;184,016&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Deferred tax&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(97,240&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(113,897&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(100,432&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,452&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229,207&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;83,584&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(100,720&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,452&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229,207&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock>
  <ts:DisclosureOfDetailedInformationAboutInventoriesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-28">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Finished goods&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;968,329&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,025,999&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Goods in process&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;612,888&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;709,497&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Raw materials&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;221,954&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;256,816&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Supplies&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;486,411&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;504,286&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Goods in transit&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194,015&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;237,539&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,483,597&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,734,137&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Allowance for obsolescence (see Note 23 (i))&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(217,717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(209,796&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,265,880&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,524,341&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutInventoriesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-24">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;At the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;805,568&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;640,294&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(10,781&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,848&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Equity in earnings of non-consolidated companies&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;82,036&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;193,994&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,635&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dividends and distributions received (*)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(28,037&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(26,581&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,610&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Decrease / increase in equity reserves and others&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(9,066&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,987&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;At the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;879,965&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;805,568&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutLaborCostsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-13">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Wages, salaries and social security costs&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,274,474&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,250,783&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,144,341&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Severance indemnities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,637&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;25,225&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;34,497&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Defined contribution plans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,663&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13,217&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,401&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Pension benefits - defined benefit plans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,207&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,390&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,066&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Employee retention and long term incentive program&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22,134&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,353&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,441&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,352,115&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,325,968&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,221,746&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(853&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,352,115&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,325,968&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,220,893&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutLaborCostsTextBlock>
  <ts:DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-49">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(641&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;110&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;531&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-50">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,089&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,438&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,571&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,261&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,904&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,397&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,641&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,406&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,464&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,079&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,599&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,089&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-27">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Employee advances and loans&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,008&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,740&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax credits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,065&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,025&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivables from related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59,999&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;58,128&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Legal deposits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,378&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,446&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Advances to suppliers and other advances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,772&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,592&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivable Venezuelan subsidiaries&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,222&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,263&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;157,103&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;151,905&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-15">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Other operating income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Net income from other sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,651&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,604&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,395&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net rents&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,089&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,909&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,325&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,025&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,546&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,796&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Recovery on allowance for doubtful receivables&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,239&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,004&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,059&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,516&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Other operating expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions to welfare projects and non-profits organizations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,199&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,379&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,158&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Loss on fixed assets and material supplies disposed / scrapped&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;118&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Allowance for doubtful receivables&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,179&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;84&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,199&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,558&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,360&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,199&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,558&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,359&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-25">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;% ownership at December 31,&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Value at December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Company&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Country of incorporation&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 20%; font-size: 10pt; text-align: left"&gt;a) Ternium (*)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 25%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Luxembourg&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.46&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11.46&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;751,105&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;725,548&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;b) Usiminas (**)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Brazil&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.07&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.07&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;74,593&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;72,988&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-left: 10pt; font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,267&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,032&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;879,965&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;805,568&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-29">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Prepaid expenses and other receivables&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,579&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,599&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Government entities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,867&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,182&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Employee advances and loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,189&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,521&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Advances to suppliers and other advances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,180&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,467&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Government tax refunds on exports&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;670&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,896&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivables from related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,837&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,322&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Miscellaneous&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,145&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,682&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;109,467&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;162,669&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Allowance for other doubtful accounts (see Note 23 (i))&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,892&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,784&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;104,575&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;155,885&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock>
  <ts:DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-26">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Ternium&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Non-current assets&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,757,320&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,121,824&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current assets&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,178,213&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,426,038&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,935,533&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,547,862&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,452,535&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,236,756&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,768,125&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,826,530&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,220,660&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,063,286&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Non-controlling interests&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,103,208&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,091,321&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,192,818&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,454,807&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,740,378&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,971,479&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net income for the year attributable to owners of the parent&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;564,269&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,506,647&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total comprehensive income for the year, net of tax, attributable to owners of the parent&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;445,473&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,176,964&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Usiminas&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Non-current assets&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,335,662&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,696,896&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current assets&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,198,449&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,148,322&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,534,111&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,845,218&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,955,395&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,933,207&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;716,930&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;860,862&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,672,325&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,794,069&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Non-controlling interests&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;377,667&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;369,333&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,790,206&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,766,241&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;478,141&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;612,156&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net income for the year attributable to owners of the parent&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,779&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194,381&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock>
  <ts:DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-12">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: justify"&gt;Services and fees&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;153,773&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;128,090&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;132,301&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Labor cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;481,854&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;470,928&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;443,338&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Depreciation of property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,524&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,968&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,979&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Amortization of intangible assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;41,967&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;206,672&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;188,550&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Depreciation of right-of-use assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15,564&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Commissions, freight and other selling expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;441,442&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;491,555&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;339,759&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Provisions for contingencies&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;28,565&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,498&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,664&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Allowances for doubtful accounts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(16,256&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,751&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,421&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;110,876&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;71,110&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;56,826&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89,665&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;99,404&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;81,061&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,365,974&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,509,976&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,272,057&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;From discontinued operations&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,041&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,365,974&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,509,976&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,270,016&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-37">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: white"&gt; &lt;td style="white-space: nowrap; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;In million of USD&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: white"&gt; &lt;td style="white-space: nowrap; width: 26%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Disbursement date&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Borrower&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; width: 15%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Type&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Original &amp;amp; Outstanding&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Final maturity&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="white-space: nowrap"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2019&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Tamsa&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Bank loans&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;621&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="white-space: nowrap"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2019&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Siderca&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Bank loans&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;60&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="white-space: nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="white-space: nowrap; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock>
  <ts:DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-31">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current tax liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Income tax liabilities&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;64,994&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;182,711&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;V.A.T. liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,953&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,091&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other taxes&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52,678&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49,431&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;127,625&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;250,233&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock>
  <ts:DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-2">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-; min-width: 700px;"&gt; &lt;tr&gt; &lt;td style="vertical-align: top; width: 4%; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; width: 56%; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Land&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom; width: 40%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;No Depreciation&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Buildings and improvements &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30-50 years&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Plant and production equipment &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10-40 years&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;Vehicles, furniture and fixtures, and other equipment&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4-10 years&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock>
  <ts:DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-36">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;1 year or &lt;br /&gt; less&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;1 - 2 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2 &amp;#x2013; 3 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;3 - 4 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;4 - 5 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Over 5 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 30%; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other borrowings&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,307&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,573&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;781,272&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,307&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,573&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;822,152&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest to be accrued (*)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;11,370&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,045&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;117&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,532&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;792,642&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;18,352&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,690&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;834,684&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;1 year or &lt;br /&gt; less&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;1 - 2 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2 &amp;#x2013; 3 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;3 - 4 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;4 - 5 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Over 5 &lt;br /&gt; years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2018&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 30%; font-size: 10pt; text-align: left"&gt;Financial lease&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;44&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;44&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,776&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,271&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,771&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,145&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;538,963&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Total borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;509,820&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,271&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,771&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,145&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;539,007&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest to be accrued (*)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,182&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,175&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,166&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;169&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,692&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;518,002&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,446&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,937&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,314&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;549,699&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock>
  <ts:DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-38">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Total borrowings&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.18&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3.98&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock>
  <ts:DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-55">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Equity Reserve &lt;br /&gt; Dec-17&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Movements &lt;br /&gt; 2018&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Equity Reserve &lt;br /&gt; Dec-18&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Movements &lt;br /&gt; 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Equity Reserve&lt;br /&gt; Dec-19&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Foreign Exchange&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(240&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(676&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,507&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,591&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Total Cash flow Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(240&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(676&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(916&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,507&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,591&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock>
  <ts:DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-18">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; width: 55%; font-size: 10pt; text-align: left"&gt;Income before income tax&lt;/td&gt; &lt;td style="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;933,710&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,103,107&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;427,711&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax calculated at the tax rate in each country&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;186,752&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;207,422&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,456&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of currency translation on tax base&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;53,296&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;77,552&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(922&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Changes in the tax rates&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(13&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,824&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(62,968&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Utilization of previously unrecognized tax losses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(547&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Tax revaluation, withholding tax and others&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(37,036&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(57,591&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;40,298&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"&gt;Tax charge&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,452&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229,207&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(17,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock>
  <ts:DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-58">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;Income from discontinued operations&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,848&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&amp;nbsp;After tax gain on the sale of Conduit&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89,694&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&amp;nbsp;Net Income for discontinued operations&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;91,542&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock>
  <ts:DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock contextRef="d_2019-01-01_2019-12-31" id="s1523861">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 38.75pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Update as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April 29, 2020&lt;/div&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;The COVID-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt; pandemic and the oil &amp;amp; gas crisis and their impact on Tenaris&amp;#x2019;s operations and financial condition&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;A novel strain of coronavirus (SARS-CoV-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;) surfaced in China in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 2019 &lt;/div&gt;and subsequently spread to the rest of the world in early &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020.&lt;/div&gt; In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 2020, &lt;/div&gt;the World Health Organization declared COVID-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,&lt;/div&gt; the disease caused by the SARS-CoV-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt; virus, a global pandemic. In response to the COVID-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt; outbreak, countries have taken different measures in relation to prevention and containment. For example, several countries introduced bans on business activities or locked down cities or countries, including countries where Tenaris has operations (such as Argentina, China, Colombia, Italy, Mexico and the United States). The rapid expansion of the virus and the measures taken to contain it have triggered a severe fall in global economic activity and a serious crisis in the energy sector.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;While the extent of the effects of COVID-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt; on the global economy and oil demand were still unclear, in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 2020, &lt;/div&gt;the members of OPEC+ (OPEC plus other major oil producers including Russia) did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; agree to extend their agreement to cut oil production and Saudi Arabia precipitated a wave of additional supply on the market triggering a collapse in oil prices below &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$30&lt;/div&gt; per barrel. This exacerbated what soon became clear was an unprecedented situation of oversupply, caused primarily by the sudden and dramatic fall in oil consumption consequent to the measures taken to contain the spread of the virus around the world. Although OPEC+ subsequently reached an equally unprecedented agreement to cut production by as much as &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9.7&lt;/div&gt; million barrels per day, a situation of acute oversupply remains, causing oil prices to hit record lows. By the end of trading on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April 20, 2020, &lt;/div&gt;the West Texas Intermediate (WTI) forward price for delivery in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May, &lt;/div&gt;which had to be closed out the following day, fell to a negative value for the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;first&lt;/div&gt; time in history, as oil storage facilities were completely committed, and producers were forced to pay buyers to take their barrels. It is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; known how long it will take for oil and gas demand to recover or achieve a more balanced position between supply and demand. As a result, prices are expected to remain at low levels for an extended period. In these circumstances, most of our customers have announced, or are making, significant cuts to their investment plans and are likely to announce further cuts. Similarly, several of our suppliers are closing, either temporarily or permanently, some of their facilities, which &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;result in unavailability or increased prices for our raw materials and other inputs.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;-&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic;"&gt;Status of our operations&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;We are adjusting our operations on a country-by-country basis to comply with applicable rules and requirements and adapt to this new, rapidly evolving scenario. As of the date of these Consolidated Financial Statements, this is the status of our facilities:&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;In China, we are again fully operational, after several weeks of interruption and an extraordinary combined effort of our people and of our community. &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;In Italy, production was greatly reduced; although our Dalmine facility was used exclusively for the manufacturing of oxygen tanks to aid local hospitals and health centers for a limited period of time, currently the facility is gradually resuming normal operations. In Argentina, Colombia, Mexico and Saudi Arabia, Tenaris decreased its activity following the imposition of mandatory lockdowns, and our plants in these countries are currently operating at reduced levels. Although the lockdowns or restrictions to operate in these countries are expected to end or be relaxed in the next few weeks, these could be extended and/or made more stringent if so decided by the appropriate authorities as the circumstances could require.&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;In the United States, our facilities in Koppel and Ambridge (PA), Brookfield (OH), Blytheville (AR), Wilder (KY), and Odessa and Baytown (TX), have been or will be temporarily closed until market conditions improve. In addition, Tenaris is in the process of performing employee reductions and adjusting production levels at its other facilities in line with market demand. &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;In order to safeguard the health and safety of its employees, customers and suppliers, Tenaris has taken preventive measures, including remote working for the majority of white collar employees, restricting onsite access to essential operational personnel, keeping personnel levels at a minimum, implementing a special operations protocol to ensure social distancing and providing medical assistance and supplies to onsite employees. As of the date of these Consolidated Financial Statements, remote work and other work arrangements have &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; materially adversely affected Tenaris&amp;#x2019;s ability to conduct operations. In addition, these alternative working arrangements have &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; adversely affected our financial reporting systems, internal control over financial reporting or disclosure controls and procedures.&lt;/div&gt; &lt;hr align="left" style="width: 33% font-size: width: 33%" /&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; This note was added subsequent to the approval of these Consolidated Financial Statements by the Company&amp;#x2019;s Board of Directors on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 19, 2020.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 283.5pt; font-size: 10pt; text-align: right; text-indent: 4.5pt"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 166 --&gt;   &lt;div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;-&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Risks associated with the COVID-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt; pandemic and the oil &amp;amp; gas crisis&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;Given the uncertainty around the extent and timing of the future spread of the SARS-CoV-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt; virus and the unprecedented extent of the oversupply on the oil market and the uncertainty about the timing and extent of any recovery in demand, it is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; possible at this time to predict the full magnitude of the adverse effects that these &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;two&lt;/div&gt; circumstances will have on our industry generally, nor to reasonably estimate the impact on Tenaris&amp;#x2019;s results of operations, cash flows or financial condition.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;The COVID-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt; pandemic and the ongoing oil &amp;amp; gas crisis poses the following main risks and challenges to Tenaris:&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;Global oil or gas demand &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;fail to recover or even decrease further in the future, driving down prices even more or keeping them at very low levels, which would exert downward pressure on sales and margins of oil and gas companies, leading to further reductions and even generalized suspension of drilling activities (in the U.S. or elsewhere) and, as a result, materially adversely affecting our sales and financial position.&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;Tenaris or its employees, contractors, suppliers, customers and other business partners &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be prevented from conducting certain business activities for a prolonged or indefinite period of time. In addition, employees in some or all of our facilities, or those of our contracts, suppliers, customers or other business partners, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;refuse to work due to health concerns while the COVID-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt; outbreak is ongoing, If that happens, the continuity of our future operations &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;be severely affected.&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;A continuing spread of COVID-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;affect the availability and price of raw materials, energy and other inputs used by Tenaris in its operations. Any such disruption or increased prices could adversely affect Tenaris&amp;#x2019;s profitability.&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;-&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic;"&gt;Mitigating actions&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;In order to mitigate the impact of expected lower sales, Tenaris is working on a worldwide rightsizing program and cost containment plan aimed at preserving its financial resources and overall liquidity position and maintaining the continuity of its operations. The actions include:&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;Adjusting the level of our operations and workforce around the world, including through the temporary closure of certain U.S. facilities or production lines, as indicated above;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;Introducing efficiency and productivity improvements throughout Tenaris&amp;#x2019;s industrial system;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;Downsizing our fixed cost structure, including through pay reductions for senior management and board members, aggregating estimated total annual savings of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$220&lt;/div&gt; million by year-end; &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;Reducing capital expenditures and R&amp;amp;D expenses for approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$150&lt;/div&gt; million when compared to &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; levels; &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 13.5pt"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;Reducing working capital, especially inventories, in accordance with the expected levels of activity; and&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-family: Times New Roman, Times, Serif"&gt;Increasing our focus on managing customer credit conditions. &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;As part of these liquidity preservation initiatives, the board of directors resolved to propose, for approval by the Annual Shareholders Meeting to be held on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 2, 2020, &lt;/div&gt;that &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; further dividends be distributed in respect of fiscal year &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; on top of the interim dividend of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$153&lt;/div&gt; million already paid in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 2019.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;As of the date of these Consolidated Financial Statements, our capital and financial resources, and overall liquidity position, have &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; been materially affected by this new scenario. Tenaris has in place non-committed credit facilities and management believes it has adequate access to the credit markets. In addition, Tenaris has a net cash position of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$271&lt;/div&gt; million as of the end of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 2020 &lt;/div&gt;and a manageable debt amortization schedule. Considering our financial position and the funds provided by operating activities, management believes that we have sufficient resources to satisfy our current working capital needs, service our debt and address short-term changes in business conditions.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 167 --&gt;   &lt;div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Acquisition of IPSCO Tubulars, Inc.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;(i)&lt;/td&gt; &lt;td&gt;Closing Statement&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 16, 2020, &lt;/div&gt;Tenaris delivered, for TMK&amp;#x2019;s review, a closing statement prepared in accordance with the acquisition agreement, including Tenaris&amp;#x2019;s calculation of the closing price based on actual amounts of cash, indebtedness, working capital and certain other items as of the closing date.&amp;nbsp;In case of disagreement, the parties are expected to engage in good-faith negotiations to solve any discrepancies. If the parties cannot resolve the disputed amounts, the discrepancies must be submitted to and resolved by an independent accounting firm.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;(ii)&lt;/td&gt; &lt;td style="text-align: justify"&gt;Purchase Price Allocation&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;As at &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 31, 2020, &lt;/div&gt;the preliminary purchase price allocation was carried out with the assistance of a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;third&lt;/div&gt;-party expert.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;The application of the purchase method requires certain estimates and assumptions, including estimates and assumptions concerning the determination of the fair values of the acquired intangible assets and property, plant and equipment as well as the liabilities assumed at the date of the acquisition. The fair values determined at the acquisition date are based mainly on discounted cash flows and other valuation techniques.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;The preliminary allocation of the fair values determined for the assets and liabilities arising from the acquisition is as follows:&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-weight: bold"&gt;Fair value of acquired assets and liabilities:&lt;/td&gt; &lt;td style="font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-weight: bold; text-align: center"&gt;$ million&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 77%; text-align: left"&gt;Property, Plant and Equipment&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 20%; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;506&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left"&gt;Intangible assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;170&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left"&gt;Working capital&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;144&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left"&gt;Cash and Cash Equivalents&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left"&gt;Other assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;46&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td&gt;Borrowings&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(53&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td&gt;Provisions&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(27&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left"&gt;Other liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(77&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left; padding-bottom: 1pt"&gt;Deferred tax liabilities&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Net assets acquired&lt;/td&gt; &lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;710&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;Tenaris acquired total assets and liabilities shown above, for approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$1,067&lt;/div&gt; million. As a result of the acquisition, the Company recognized goodwill for approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$357&lt;/div&gt; million. The goodwill is &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; expected to be deductible for tax purposes.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;The goodwill generated by the acquisition is mainly attributable to the synergy created following the integration between Tenaris and IPSCO, which is expected to enhance Tenaris&amp;#x2019;s position as well as its local manufacturing presence in the U.S. market, and also expand its product range and services capabilities. The goodwill has been allocated to the Tubes segment. After the conclusion of the preliminary purchase price allocation determination and as a consequence of the unprecedented decline in oil prices and other changes in circumstances, the management has decided to impair the goodwill mentioned above.&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Following IFRS &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,&lt;/div&gt; the Company will continue reviewing the allocation and make any necessary adjustments (mainly over property, plant and equipment and intangible assets) during the &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;twelve&lt;/div&gt; months following the acquisition date.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;Acquisition-related costs of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$9.7&lt;/div&gt; million were included in general and administrative expenses (&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$9.4&lt;/div&gt; million and $ &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;0.3&lt;/div&gt; million in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2020&lt;/div&gt; respectively).&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;(iii)&lt;/td&gt; &lt;td&gt;Temporary suspension of operations at certain facilities&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Given the abrupt and steep decline in market demand, the facilities in Koppel and Ambridge (PA), Brookfield (OH), Blytheville (AR), Wilder (KY), and Odessa and Baytown (TX), were temporarily closed until market conditions improve.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt;  &lt;div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.75pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Impairment of Assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;As a result of the severe deterioration of business conditions and in light of the presence of impairment indicators for its U.S. operations, Tenaris recorded impairment charges as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 31, 2020, &lt;/div&gt;in the carrying values of goodwill and other asset values at the cash-generating units OCTG USA (Maverick), IPSCO, Rods USA and Coiled Tubing, for an aggregate amount of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$622&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;These Consolidated Financial Statements do &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; reflect these impairment charges.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Closure of facilities at JFE&amp;#x2019;s Keihin steel complex&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;Our seamless pipe manufacturing facility in Asia, operated by NKKTubes, is located in Kawasaki, Japan, in the Keihin steel complex owned by JFE. Steel bars and other essential inputs and services for NKKTubes are supplied under a long-term agreement by JFE, which retains a &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49%&lt;/div&gt; interest in NKKTubes. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 27, 2020, &lt;/div&gt;JFE informed Tenaris of its decision to permanently cease, as from JFE&amp;#x2019;s fiscal year ending &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 2024, &lt;/div&gt;the operations of certain of its steel manufacturing facilities and other facilities located at the Keihin complex. The closure of JFE&amp;#x2019;s Keihin facilities &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;result in the unavailability of steel bars and other essential inputs or services used in NKKTubes&amp;#x2019; manufacturing process, thereby affecting its operations. Tenaris and JFE have agreed to engage in discussions to seek mutually acceptable solutions.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Annual Dividend Proposal&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April 29, 2020, &lt;/div&gt;the Company&amp;#x2019;s board of directors resolved to propose, for approval by the annual shareholders meeting to be held on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 2, 2020, &lt;/div&gt;that &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; further dividends be distributed in respect of fiscal year &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2019&lt;/div&gt; beyond the interim dividend of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$153&lt;/div&gt; million already paid in &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; November 2019. &lt;/div&gt;For a discussion of the rationale behind the dividend proposal, see &lt;div style="display: inline; font-style: italic;"&gt;&amp;#x201c;The COVID-&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19&lt;/div&gt; pandemic and the oil &amp;amp; gas crisis and their impact on Tenaris&amp;#x2019;s operations and financial condition&amp;#x201d;&lt;/div&gt; included in this note.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;/div&gt;&lt;/div&gt;</ts:DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock>
  <ts:DisclosureOfInformationAboutNumberOfEmployeesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-14">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center; border-top: Black 1pt solid"&gt;Country&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt"&gt;Argentina&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,405&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,427&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,221&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Mexico&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,370&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,595&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,139&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,255&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,382&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,953&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Italy&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,144&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,155&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,088&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Romania&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,815&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,852&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,870&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Brazil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,360&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,287&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,382&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Colombia&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,040&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,082&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,003&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Canada&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;772&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,030&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;919&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Indonesia&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;616&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;554&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;506&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Japan&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;400&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;399&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;410&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,023&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,204&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,114&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,200&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22,967&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;21,605&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfInformationAboutNumberOfEmployeesTextBlock>
  <ts:DisclosureOfNationalizationOfSubsidiariesTextBlock contextRef="d_2019-01-01_2019-12-31" id="s1523858">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 2.75pt"&gt;&lt;/td&gt; &lt;td style="width: 36pt"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;33&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Nationalization of Venezuelan Subsidiaries&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; May 2009, &lt;/div&gt;within the framework of Decree Law &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6058,&lt;/div&gt; Venezuela&amp;#x2019;s President announced the nationalization of, among other companies, the Company's majority-owned subsidiaries TAVSA - Tubos de Acero de Venezuela S.A. (&amp;#x201c;Tavsa&amp;#x201d;) and, Matesi Materiales Sider&amp;uacute;rgicos S.A (&amp;#x201c;Matesi&amp;#x201d;), and Complejo Sider&amp;uacute;rgico de Guayana, C.A (&amp;#x201c;Comsigua&amp;#x201d;), in which the Company has a non-controlling interest (collectively, the &amp;#x201c;Venezuelan Companies&amp;#x201d;). Tenaris and its wholly-owned subsidiary, Talta - Trading e Marketing Sociedad Unipessoal Lda (&amp;#x201c;Talta&amp;#x201d;), initiated arbitration proceedings against Venezuela before the ICSID in Washington D.C. in connection with these nationalizations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 163 --&gt;   &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Matesi&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; January 29, 2016, &lt;/div&gt;the tribunal released its award on the arbitration proceeding concerning the nationalization of Matesi. The award upheld Tenaris&amp;#x2019;s and Talta&amp;#x2019;s claim that Venezuela had expropriated their investments in Matesi in violation of Venezuelan law as well as the bilateral investment treaties entered into by Venezuela with the Belgium-Luxembourg Economic Union and Portugal. The award granted compensation in the amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$87.3&lt;/div&gt; million for the breaches and ordered Venezuela to pay an additional amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$85.5&lt;/div&gt; million in pre-award interest, aggregating to a total award of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$172.8&lt;/div&gt; million, payable in full and net of any applicable Venezuelan tax, duty or charge. The tribunal granted Venezuela a grace period of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;six&lt;/div&gt; months from the date of the award to make payment in full of the amount due without incurring post-award interest, and resolved that if &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no,&lt;/div&gt; or &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;no&lt;/div&gt; full, payment is made by then, post-award interest will apply at the rate of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9%&lt;/div&gt; per annum compounded at &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;six&lt;/div&gt;-monthly rests from the date of the award until payment in full. As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;post-award interest amounted to approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$71&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 14, 2016, &lt;/div&gt;Venezuela requested the rectification of the award pursuant to article &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49&lt;/div&gt;(&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2&lt;/div&gt;) of the ICSID Convention and ICSID Arbitration Rule &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;49.&lt;/div&gt; The tribunal denied Venezuela&amp;#x2019;s request on &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 24, 2016, &lt;/div&gt;ordering Venezuela to reimburse Tenaris and Talta for their costs incurred in connection with the rectification proceedings. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; September 21, 2016, &lt;/div&gt;Venezuela submitted a request for annulment of the award as well as the stay of enforcement of the award in accordance with the ICSID Convention and Arbitration Rules. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; March 24, 2017, &lt;/div&gt;an ad hoc committee constituted to decide on Venezuela&amp;acute;s requests rendered its decision to lift the stay of enforcement of the award. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; August 8, 2018, &lt;/div&gt;the ad hoc committee rejected Venezuela&amp;#x2019;s application to annul the award.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 8, 2018, &lt;/div&gt;Tenaris and Talta filed an action in federal court in the District of Columbia to recognize and enforce the award. Tenaris and Talta have effected service on Venezuela in accordance with US law, and Venezuela has failed to file an answer in the proceeding.&amp;nbsp;Tenaris and Talta have moved for default judgment.&amp;nbsp;Venezuela did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; oppose the entry of default judgment. Accordingly, it is expected that the award will be converted into a judgment. The judgment, however, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; be enforced in the U.S. to the extent prohibited by the Venezuelan sanctions regulations issued by the U.S. Treasury Department&amp;#x2019;s Office of Foreign Assets Control.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Tavsa and Comsigua&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 12, 2016, &lt;/div&gt;the tribunal issued its award upholding Tenaris&amp;#x2019;s and Talta&amp;#x2019;s claim that Venezuela had expropriated their investments in Tavsa and Comsigua in violation of the bilateral investment treaties entered into by Venezuela with the Belgium-Luxembourg Economic Union and Portugal. The award granted compensation in the amount of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$137&lt;/div&gt; million and ordered Venezuela to reimburse Tenaris and Talta &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$3.3&lt;/div&gt; million in legal fees and ICSID administrative costs. In addition, Venezuela was ordered to pay interest from &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April 30, 2008 &lt;/div&gt;until the day of effective payment at a rate equivalent to LIBOR + &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4%&lt;/div&gt; per annum, which as of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019 &lt;/div&gt;amounted to approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$118&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; April 11, 2017, &lt;/div&gt;Venezuela submitted a request for annulment of the award as well as the stay of enforcement of the award in accordance with the ICSID Convention and Arbitration Rules. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; February 23, 2018, &lt;/div&gt;an ad hoc committee constituted to decide on Venezuela&amp;#x2019;s requests rendered its decision to lift the stay of enforcement of the award. On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 28, 2018, &lt;/div&gt;the ad hoc committee rejected Venezuela&amp;#x2019;s application to annul the award.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; June 8, 2018, &lt;/div&gt;Tenaris and Talta filed an action in federal court in the District of Columbia to recognize and enforce the award. Tenaris and Talta have effected service on Venezuela in accordance with US law, and Venezuela has failed to file an answer in the proceeding.&amp;nbsp;Tenaris and Talta have moved for default judgment.&amp;nbsp;Venezuela did &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; oppose the entry of default judgment. Accordingly, it is expected that the award will be converted into a judgment. The judgment, however, &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;not&lt;/div&gt; be enforced in the U.S. to the extent prohibited by the Venezuelan sanctions regulations issued by the U.S. Treasury Department&amp;#x2019;s Office of Foreign Assets Control.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font: inherit;"&gt; December 31, 2019, &lt;/div&gt;Tenaris or its subsidiaries have net receivables related to its interest in the Venezuelan Companies for a total amount of approximately &lt;div style="display: inline; font-style: italic; font: inherit;"&gt;$49&lt;/div&gt; million. See Note III.B.&lt;/div&gt;&lt;/div&gt;</ts:DisclosureOfNationalizationOfSubsidiariesTextBlock>
  <ts:DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock contextRef="d_2019-01-01_2019-12-31" id="s1523827">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 22.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;22&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Non-current allowances and provisions&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 38.75pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(i)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic;"&gt;Deducted from non-current receivables&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(641&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;110&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;531&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 38.75pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(ii)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic;"&gt;Liabilities&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Values at the beginning of the year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,089&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,438&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,571&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,261&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additional provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,904&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,397&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,641&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(2,406&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Used&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(5,464&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(7,079&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Values at the end of the year&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;54,599&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,089&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ts:DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock>
  <ts:DisclosureOfNoncurrentReceivablesTextBlock contextRef="d_2019-01-01_2019-12-31" id="s1523784">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;13&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Receivables &amp;#x2013; non current&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Employee advances and loans&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,008&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,740&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax credits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;20,065&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;16,025&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivables from related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;59,999&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;58,128&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Legal deposits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,378&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;12,446&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Advances to suppliers and other advances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,772&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,592&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Derivative financial instruments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivable Venezuelan subsidiaries&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;48,659&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,222&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,263&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;157,103&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;151,905&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ts:DisclosureOfNoncurrentReceivablesTextBlock>
  <ts:DisclosureOfReceivablesAndPrepaymentsTextBlock contextRef="d_2019-01-01_2019-12-31" id="s1523788">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.5in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;15&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Receivables and prepayments, net&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Prepaid expenses and other receivables&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,579&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,599&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Government entities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;1,867&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,182&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Employee advances and loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,189&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,521&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Advances to suppliers and other advances&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;17,180&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;23,467&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Government tax refunds on exports&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;670&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,896&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Receivables from related parties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;19,837&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;63,322&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Miscellaneous&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,145&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,682&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;109,467&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;162,669&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Allowance for other doubtful accounts (see Note 23 (i))&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,892&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,784&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;104,575&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;155,885&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ts:DisclosureOfReceivablesAndPrepaymentsTextBlock>
  <ts:DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-42">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year ended December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Deferred tax assets to be recovered after 12 months&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(538,274&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(452,330&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred tax liabilities to be settled after 12 months&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;766,852&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;739,670&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock>
  <ts:DisclosureOfSaleOfDiscontinuedOperationsTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-59">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 83%; font-size: 10pt; text-align: left"&gt;Cash received&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;331,295&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transaction and other costs&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3,663&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Carrying amount of net assets sold&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(137,814&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Gain on sale before income tax&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;189,817&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense on gain&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(100,123&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Gain on sale after income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;89,694&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:DisclosureOfSaleOfDiscontinuedOperationsTextBlock>
  <ts:DividendsDeclaredByNonconsolidatedCompanies contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809066" unitRef="iso4217-usd">28037000</ts:DividendsDeclaredByNonconsolidatedCompanies>
  <ts:DividendsDeclaredByNonconsolidatedCompanies contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59809067" unitRef="iso4217-usd">26581000</ts:DividendsDeclaredByNonconsolidatedCompanies>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806632" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806633" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806634" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806635" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember" id="c59806636" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806637" unitRef="iso4217-usd">484020000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806638" unitRef="iso4217-usd">484020000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806639" unitRef="iso4217-usd">1807000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806640" unitRef="iso4217-usd">485827000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806776" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806777" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806778" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806779" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember" id="c59806780" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806781" unitRef="iso4217-usd">484020000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806782" unitRef="iso4217-usd">484020000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806783" unitRef="iso4217-usd">3661000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806784" unitRef="iso4217-usd">487681000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806902" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806903" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806904" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806905" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" id="c59806906" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806907" unitRef="iso4217-usd">484020000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806908" unitRef="iso4217-usd">484020000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806909" unitRef="iso4217-usd">24000000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidIncludingNoncontrollingInterest contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806910" unitRef="iso4217-usd">508020000</ts:DividendsPaidIncludingNoncontrollingInterest>
  <ts:DividendsPaidPerADS contextRef="d_2018-11-21_2018-11-21" decimals="INF" id="c59808571" unitRef="iso4217-usd-per-xbrli-shares">0.26</ts:DividendsPaidPerADS>
  <ts:DividendsPaidPerADS contextRef="d_2019-05-22_2019-05-22" decimals="INF" id="c59808573" unitRef="iso4217-usd-per-xbrli-shares">0.56</ts:DividendsPaidPerADS>
  <ts:DividendsPaidPerADS contextRef="d_2017-11-22_2017-11-22" decimals="INF" id="c59808578" unitRef="iso4217-usd-per-xbrli-shares">0.26</ts:DividendsPaidPerADS>
  <ts:DividendsPaidPerADS contextRef="d_2018-05-23_2018-05-23" decimals="INF" id="c59808580" unitRef="iso4217-usd-per-xbrli-shares">0.56</ts:DividendsPaidPerADS>
  <ts:DividendsPaidPerADS contextRef="d_2016-11-23_2016-11-23" decimals="INF" id="c59808585" unitRef="iso4217-usd-per-xbrli-shares">0.26</ts:DividendsPaidPerADS>
  <ts:DividendsPaidPerADS contextRef="d_2017-05-24_2017-05-24" decimals="INF" id="c59808587" unitRef="iso4217-usd-per-xbrli-shares">0.56</ts:DividendsPaidPerADS>
  <ts:DividendsPayableAmountPerADS contextRef="i_2019-10-30" decimals="INF" id="c59808566" unitRef="iso4217-usd-per-xbrli-shares">0.26</ts:DividendsPayableAmountPerADS>
  <ts:DividendsPayableAmountPerADSIncludingInterimDividend contextRef="i_2019-05-06" decimals="INF" id="c59808569" unitRef="iso4217-usd-per-xbrli-shares">0.82</ts:DividendsPayableAmountPerADSIncludingInterimDividend>
  <ts:DividendsPayableAmountPerADSIncludingInterimDividend contextRef="i_2018-05-02" decimals="INF" id="c59808576" unitRef="iso4217-usd-per-xbrli-shares">0.82</ts:DividendsPayableAmountPerADSIncludingInterimDividend>
  <ts:DividendsPayableAmountPerADSIncludingInterimDividend contextRef="i_2017-05-03" decimals="INF" id="c59808583" unitRef="iso4217-usd-per-xbrli-shares">0.82</ts:DividendsPayableAmountPerADSIncludingInterimDividend>
  <ts:DividendsPayableAmountPerShareIncludingInterimDividend contextRef="i_2019-05-06" decimals="INF" id="c59808568" unitRef="iso4217-usd-per-xbrli-shares">0.41</ts:DividendsPayableAmountPerShareIncludingInterimDividend>
  <ts:DividendsPayableAmountPerShareIncludingInterimDividend contextRef="i_2018-05-02" decimals="INF" id="c59808575" unitRef="iso4217-usd-per-xbrli-shares">0.41</ts:DividendsPayableAmountPerShareIncludingInterimDividend>
  <ts:DividendsPayableAmountPerShareIncludingInterimDividend contextRef="i_2017-05-03" decimals="INF" id="c59808582" unitRef="iso4217-usd-per-xbrli-shares">0.41</ts:DividendsPayableAmountPerShareIncludingInterimDividend>
  <ts:EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809466" unitRef="iso4217-usd">53789000</ts:EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ts:EffectOfBusinessCombinationsOnLongtermBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809465" unitRef="iso4217-usd">27933000</ts:EffectOfBusinessCombinationsOnLongtermBorrowings>
  <ts:EffectOfChangesInAccountingPolicy contextRef="i_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c59806686" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:EffectOfChangesInAccountingPolicy contextRef="i_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" id="c59806687" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:EffectOfChangesInAccountingPolicy contextRef="i_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" id="c59806688" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:EffectOfChangesInAccountingPolicy contextRef="i_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" id="c59806689" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:EffectOfChangesInAccountingPolicy contextRef="i_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806690" unitRef="iso4217-usd">2786000</ts:EffectOfChangesInAccountingPolicy>
  <ts:EffectOfChangesInAccountingPolicy contextRef="i_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806691" unitRef="iso4217-usd">5220000</ts:EffectOfChangesInAccountingPolicy>
  <ts:EffectOfChangesInAccountingPolicy contextRef="i_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806692" unitRef="iso4217-usd">8006000</ts:EffectOfChangesInAccountingPolicy>
  <ts:EffectOfChangesInAccountingPolicy contextRef="i_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806693" unitRef="iso4217-usd">12000</ts:EffectOfChangesInAccountingPolicy>
  <ts:EffectOfChangesInAccountingPolicy contextRef="i_2017-12-31" decimals="-3" id="c59806694" unitRef="iso4217-usd">8018000</ts:EffectOfChangesInAccountingPolicy>
  <ts:EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809462" unitRef="iso4217-usd">2950000</ts:EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ts:EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809461" unitRef="iso4217-usd">304000</ts:EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings>
  <ts:EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809460" unitRef="iso4217-usd">203931000</ts:EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ts:EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809459" unitRef="iso4217-usd">-4582000</ts:EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings>
  <ts:EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809468" unitRef="iso4217-usd">-1620000</ts:EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ts:EffectOfOverdraftsVariationOnLongtermBorrowings contextRef="d_2019-01-01_2019-12-31" id="c59809467" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809464" unitRef="iso4217-usd">11733000</ts:EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ts:EffectOfReclassificationsOnLongtermBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809463" unitRef="iso4217-usd">-11733000</ts:EffectOfReclassificationsOnLongtermBorrowings>
  <ts:EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809458" unitRef="iso4217-usd">669000</ts:EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
  <ts:EffectOfTranslationDifferencesOnLongtermBorrowings contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809457" unitRef="iso4217-usd">-229000</ts:EffectOfTranslationDifferencesOnLongtermBorrowings>
  <ts:EmployeeBenefitsCompanyRedemptionPeriod contextRef="d_2017-01-01_2017-12-31" id="c59807344">P10Y</ts:EmployeeBenefitsCompanyRedemptionPeriod>
  <ts:EmployeeBenefitsCompanyRedemptionPeriod contextRef="d_2019-01-01_2019-12-31" id="c59807347">P7Y</ts:EmployeeBenefitsCompanyRedemptionPeriod>
  <ts:EmployeeBenefitsEarlyRedemptionPeriod contextRef="d_2017-01-01_2017-12-31" id="c59807345">P7Y</ts:EmployeeBenefitsEarlyRedemptionPeriod>
  <ts:EmployeeBenefitsExpenseDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" id="c59808392" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:EmployeeBenefitsExpenseDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" id="c59808393" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:EmployeeBenefitsExpenseDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808394" unitRef="iso4217-usd">853000</ts:EmployeeBenefitsExpenseDiscontinuedOperations>
  <ts:EmployeeBenefitsExpenseIncludingDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808389" unitRef="iso4217-usd">1352115000</ts:EmployeeBenefitsExpenseIncludingDiscontinuedOperations>
  <ts:EmployeeBenefitsExpenseIncludingDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808390" unitRef="iso4217-usd">1325968000</ts:EmployeeBenefitsExpenseIncludingDiscontinuedOperations>
  <ts:EmployeeBenefitsExpenseIncludingDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808391" unitRef="iso4217-usd">1221746000</ts:EmployeeBenefitsExpenseIncludingDiscontinuedOperations>
  <ts:EmployeeBenefitsUnitVestingPeriod contextRef="d_2019-01-01_2019-12-31" id="c59807343">P4Y</ts:EmployeeBenefitsUnitVestingPeriod>
  <ts:EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810470" unitRef="iso4217-sar">59000000</ts:EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate>
  <ts:EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810471" unitRef="iso4217-usd">16000000</ts:EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate>
  <ts:EquityAdjustedBalance contextRef="i_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" decimals="-3" id="c59806695" unitRef="iso4217-usd">1180537000</ts:EquityAdjustedBalance>
  <ts:EquityAdjustedBalance contextRef="i_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember" decimals="-3" id="c59806696" unitRef="iso4217-usd">118054000</ts:EquityAdjustedBalance>
  <ts:EquityAdjustedBalance contextRef="i_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember" decimals="-3" id="c59806697" unitRef="iso4217-usd">609733000</ts:EquityAdjustedBalance>
  <ts:EquityAdjustedBalance contextRef="i_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember" decimals="-3" id="c59806698" unitRef="iso4217-usd">-824423000</ts:EquityAdjustedBalance>
  <ts:EquityAdjustedBalance contextRef="i_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember" decimals="-3" id="c59806699" unitRef="iso4217-usd">-317783000</ts:EquityAdjustedBalance>
  <ts:EquityAdjustedBalance contextRef="i_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-3" id="c59806700" unitRef="iso4217-usd">10724073000</ts:EquityAdjustedBalance>
  <ts:EquityAdjustedBalance contextRef="i_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-3" id="c59806701" unitRef="iso4217-usd">11490191000</ts:EquityAdjustedBalance>
  <ts:EquityAdjustedBalance contextRef="i_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-3" id="c59806702" unitRef="iso4217-usd">98797000</ts:EquityAdjustedBalance>
  <ts:EquityAdjustedBalance contextRef="i_2017-12-31" decimals="-3" id="c59806703" unitRef="iso4217-usd">11588988000</ts:EquityAdjustedBalance>
  <ts:EquityInstrumentsPercentContributedToFairValueOfPlanAssets contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="3" id="c59810110" unitRef="xbrli-pure">0.49</ts:EquityInstrumentsPercentContributedToFairValueOfPlanAssets>
  <ts:EquityInstrumentsPercentContributedToFairValueOfPlanAssets contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="3" id="c59810111" unitRef="xbrli-pure">0.535</ts:EquityInstrumentsPercentContributedToFairValueOfPlanAssets>
  <ts:EstimatedAnnualSavingsFromTheReductionOfFixedCosts contextRef="d_2020-02-19_2020-02-19_NonadjustingEventsAfterReportingPeriodAxis-GlobalPandemicMember" decimals="-5" id="c59815102" unitRef="iso4217-usd">220000000</ts:EstimatedAnnualSavingsFromTheReductionOfFixedCosts>
  <ts:FinanceIncomeCostContinuingOperations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808506" unitRef="iso4217-usd">19283000</ts:FinanceIncomeCostContinuingOperations>
  <ts:FinanceIncomeCostContinuingOperations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808507" unitRef="iso4217-usd">37300000</ts:FinanceIncomeCostContinuingOperations>
  <ts:FinanceIncomeCostContinuingOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808508" unitRef="iso4217-usd">-23026000</ts:FinanceIncomeCostContinuingOperations>
  <ts:FinanceIncomeCostDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" id="c59808509" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:FinanceIncomeCostDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" id="c59808510" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:FinanceIncomeCostDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808511" unitRef="iso4217-usd">9000</ts:FinanceIncomeCostDiscontinuedOperations>
  <ts:FinanceLeaseLiabilitiesFromNonconsolidatedParties contextRef="i_2019-12-31" decimals="-3" id="c59810674" unitRef="iso4217-usd">-2064000</ts:FinanceLeaseLiabilitiesFromNonconsolidatedParties>
  <ts:FinanceLeaseLiabilitiesFromNonconsolidatedParties contextRef="i_2018-12-31" id="c59810675" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:FinancialDebtRelatedParties contextRef="i_2019-12-31" decimals="-3" id="c59810679" unitRef="iso4217-usd">-2064000</ts:FinancialDebtRelatedParties>
  <ts:FinancialDebtRelatedParties contextRef="i_2018-12-31" id="c59810680" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue contextRef="i_2019-12-31" decimals="INF" id="c59807553" unitRef="xbrli-pure">1</ts:FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue>
  <ts:FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue contextRef="i_2018-12-31" decimals="INF" id="c59807555" unitRef="xbrli-pure">0.993</ts:FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue>
  <ts:FineImposedPercentageOfAllegedlyUndueCredits contextRef="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityMember_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="4" id="c59810388" unitRef="xbrli-pure">0.75</ts:FineImposedPercentageOfAllegedlyUndueCredits>
  <ts:FinitelivedIntangibleAssetResidualUsefulLife contextRef="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59807274">P8Y</ts:FinitelivedIntangibleAssetResidualUsefulLife>
  <ts:FinitelivedIntangibleAssetResidualUsefulLife contextRef="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59807276">P1Y</ts:FinitelivedIntangibleAssetResidualUsefulLife>
  <ts:FinitelivedIntangibleAssetResidualValue contextRef="i_2019-12-31_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59807273" unitRef="iso4217-usd">72900000</ts:FinitelivedIntangibleAssetResidualValue>
  <ts:FinitelivedIntangibleAssetResidualValue contextRef="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59807275" unitRef="iso4217-usd">9900000</ts:FinitelivedIntangibleAssetResidualValue>
  <ts:FinitelivedIntangibleAssetUsefulLife contextRef="d_2018-01-01_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember_RangeAxis-TopOfRangeMember" id="c59807235">P3Y</ts:FinitelivedIntangibleAssetUsefulLife>
  <ts:FinitelivedIntangibleAssetUsefulLife contextRef="d_2018-01-01_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsTrademarksAndProprietaryTechnologyMember_RangeAxis-TopOfRangeMember" id="c59807243">P10Y</ts:FinitelivedIntangibleAssetUsefulLife>
  <ts:FinitelivedIntangibleAssetUsefulLife contextRef="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59807267">P14Y</ts:FinitelivedIntangibleAssetUsefulLife>
  <ts:FinitelivedIntangibleAssetUsefulLife contextRef="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59807268">P10Y</ts:FinitelivedIntangibleAssetUsefulLife>
  <ts:FinitelivedIntangibleAssetUsefulLife contextRef="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" id="c59807269">P9Y</ts:FinitelivedIntangibleAssetUsefulLife>
  <ts:ForeignExchangeDerivativesContractsResults contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808497" unitRef="iso4217-usd">-11616000</ts:ForeignExchangeDerivativesContractsResults>
  <ts:ForeignExchangeDerivativesContractsResults contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808498" unitRef="iso4217-usd">6576000</ts:ForeignExchangeDerivativesContractsResults>
  <ts:ForeignExchangeDerivativesContractsResults contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808499" unitRef="iso4217-usd">-8996000</ts:ForeignExchangeDerivativesContractsResults>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2019-12-31_TypesOfRisksAxis-OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807451" unitRef="iso4217-usd">1000000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2018-12-31_TypesOfRisksAxis-OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807452" unitRef="iso4217-usd">1900000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2019-12-31_TypesOfRisksAxis-OnePercentChangeEuroUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807459" unitRef="iso4217-usd">1000000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2018-12-31_TypesOfRisksAxis-OnePercentChangeEuroUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807460" unitRef="iso4217-usd">1300000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2019-12-31_TypesOfRisksAxis-OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807463" unitRef="iso4217-usd">4600000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfRisksAxis-OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807464" unitRef="iso4217-usd">4900000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2018-12-31_TypesOfRisksAxis-OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807467" unitRef="iso4217-usd">3600000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfRisksAxis-OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807468" unitRef="iso4217-usd">2300000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2019-12-31_TypesOfRisksAxis-ArgentinePesoUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807566" unitRef="iso4217-usd">-95811000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2018-12-31_TypesOfRisksAxis-ArgentinePesoUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807567" unitRef="iso4217-usd">-186867000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2019-12-31_TypesOfRisksAxis-EuroUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807568" unitRef="iso4217-usd">-103518000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2018-12-31_TypesOfRisksAxis-EuroUsDollarForeignExchangeRiskMember" decimals="-3" id="c59807569" unitRef="iso4217-usd">-175419000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2019-12-31_TypesOfRisksAxis-SaudiArabianRiyalUsDollarExchangeRiskMember" decimals="-3" id="c59807570" unitRef="iso4217-usd">-107582000</ts:ForeignExchangeRiskCurrencyExposure>
  <ts:ForeignExchangeRiskCurrencyExposure contextRef="i_2018-12-31_TypesOfRisksAxis-SaudiArabianRiyalUsDollarExchangeRiskMember" id="c59807571" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807473" unitRef="iso4217-usd">-7700000</ts:GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher>
  <ts:GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807475" unitRef="iso4217-usd">-8200000</ts:GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher>
  <ts:GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810546" unitRef="iso4217-usd">189817000</ts:GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation>
  <ts:GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810543" unitRef="iso4217-usd">331295000</ts:GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations>
  <ts:ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies contextRef="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59807203" unitRef="iso4217-usd">0</ts:ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies>
  <ts:ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59807394" unitRef="iso4217-usd">0</ts:ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies>
  <ts:ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies contextRef="d_2017-01-01_2017-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember" decimals="-3" id="c59807395" unitRef="iso4217-usd">0</ts:ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies>
  <ts:IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809062" unitRef="iso4217-usd">82036000</ts:IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies>
  <ts:IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59809063" unitRef="iso4217-usd">193994000</ts:IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies>
  <ts:IncomeTaxesAccrued contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808534" unitRef="iso4217-usd">202452000</ts:IncomeTaxesAccrued>
  <ts:IncomeTaxesAccrued contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808535" unitRef="iso4217-usd">229207000</ts:IncomeTaxesAccrued>
  <ts:IncomeTaxesAccrued contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808536" unitRef="iso4217-usd">83584000</ts:IncomeTaxesAccrued>
  <ts:IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810499" unitRef="iso4217-usd">202452000</ts:IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations>
  <ts:IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810500" unitRef="iso4217-usd">229207000</ts:IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations>
  <ts:IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810501" unitRef="iso4217-usd">-17136000</ts:IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations>
  <ts:IncreaseDecreaseAdditionalAllowancesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810175" unitRef="iso4217-usd">1751000</ts:IncreaseDecreaseAdditionalAllowancesOtherProvisions>
  <ts:IncreaseDecreaseAdditionalAllowancesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" decimals="-3" id="c59810176" unitRef="iso4217-usd">1179000</ts:IncreaseDecreaseAdditionalAllowancesOtherProvisions>
  <ts:IncreaseDecreaseAdditionalAllowancesOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810177" unitRef="iso4217-usd">25457000</ts:IncreaseDecreaseAdditionalAllowancesOtherProvisions>
  <ts:IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810169" unitRef="iso4217-usd">-6423000</ts:IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions>
  <ts:IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" id="c59810170" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions contextRef="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" id="c59810171" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:IncreaseDecreaseThroughReversalsAndAdditionalAllowances contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember" decimals="-3" id="c59810157" unitRef="iso4217-usd">-16256000</ts:IncreaseDecreaseThroughReversalsAndAdditionalAllowances>
  <ts:IncreaseDecreaseThroughReversalsAndAdditionalAllowances contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" decimals="-3" id="c59810158" unitRef="iso4217-usd">-1239000</ts:IncreaseDecreaseThroughReversalsAndAdditionalAllowances>
  <ts:IncreaseDecreaseThroughReversalsAndAdditionalAllowances contextRef="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember" decimals="-3" id="c59810159" unitRef="iso4217-usd">29138000</ts:IncreaseDecreaseThroughReversalsAndAdditionalAllowances>
  <ts:IncreaseInInventoryDueToBusinessCombinations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808287" unitRef="iso4217-usd">52966000</ts:IncreaseInInventoryDueToBusinessCombinations>
  <ts:IncreaseInInventoryDueToBusinessCombinations contextRef="d_2018-01-01_2018-12-31" id="c59808288" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:IncreaseInInventoryDueToBusinessCombinations contextRef="d_2017-01-01_2017-12-31" id="c59808289" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:InterestInAssociateSharesOwned contextRef="i_2019-12-31_ClassesOfShareCapitalAxis-OrdinarySharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="INF" id="c59807179" unitRef="xbrli-shares">36500000</ts:InterestInAssociateSharesOwned>
  <ts:InterestInAssociateSharesOwned contextRef="i_2019-12-31_ClassesOfShareCapitalAxis-PreferenceSharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember" decimals="INF" id="c59807180" unitRef="xbrli-shares">1300000</ts:InterestInAssociateSharesOwned>
  <ts:InventoriesAllowanceForObsolescence contextRef="i_2019-12-31" decimals="-3" id="c59809168" unitRef="iso4217-usd">217717000</ts:InventoriesAllowanceForObsolescence>
  <ts:InventoriesAllowanceForObsolescence contextRef="i_2018-12-31" decimals="-3" id="c59809169" unitRef="iso4217-usd">209796000</ts:InventoriesAllowanceForObsolescence>
  <ts:InventoriesGross contextRef="i_2019-12-31" decimals="-3" id="c59809166" unitRef="iso4217-usd">2483597000</ts:InventoriesGross>
  <ts:InventoriesGross contextRef="i_2018-12-31" decimals="-3" id="c59809167" unitRef="iso4217-usd">2734137000</ts:InventoriesGross>
  <ts:InventoriesIncludingDiscontinuedOperations contextRef="i_2019-12-31" decimals="-3" id="c59808324" unitRef="iso4217-usd">2265880000</ts:InventoriesIncludingDiscontinuedOperations>
  <ts:InventoriesIncludingDiscontinuedOperations contextRef="i_2018-12-31" decimals="-3" id="c59808325" unitRef="iso4217-usd">2524341000</ts:InventoriesIncludingDiscontinuedOperations>
  <ts:InventoriesIncludingDiscontinuedOperations contextRef="i_2017-12-31" decimals="-3" id="c59808326" unitRef="iso4217-usd">2368304000</ts:InventoriesIncludingDiscontinuedOperations>
  <ts:InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809068" unitRef="iso4217-usd">19610000</ts:InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions>
  <ts:InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions contextRef="d_2018-01-01_2018-12-31" id="c59809069" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809064" unitRef="iso4217-usd">20635000</ts:InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations>
  <ts:InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations contextRef="d_2018-01-01_2018-12-31" id="c59809065" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:InvestmentsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810460" unitRef="iso4217-sar">77000000</ts:InvestmentsRecognisedAsOfAcquisitionDate>
  <ts:InvestmentsRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810461" unitRef="iso4217-usd">21000000</ts:InvestmentsRecognisedAsOfAcquisitionDate>
  <ts:LeaseLiabilitiesAdditions contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809012" unitRef="iso4217-usd">36957000</ts:LeaseLiabilitiesAdditions>
  <ts:LeaseLiabilitiesCancellations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809013" unitRef="iso4217-usd">4688000</ts:LeaseLiabilitiesCancellations>
  <ts:LeaseLiabilitiesIncreaseDueToBusinessCombinations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809010" unitRef="iso4217-usd">2267000</ts:LeaseLiabilitiesIncreaseDueToBusinessCombinations>
  <ts:LeaseLiabilitiesInterestAccrued contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809015" unitRef="iso4217-usd">2766000</ts:LeaseLiabilitiesInterestAccrued>
  <ts:LeaseLiabilitiesRepayments contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809014" unitRef="iso4217-usd">43974000</ts:LeaseLiabilitiesRepayments>
  <ts:LeaseLiabilitiesTranslationDifferences contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809011" unitRef="iso4217-usd">2690000</ts:LeaseLiabilitiesTranslationDifferences>
  <ts:LeaseLiabilityEvolutionTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-23">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;(all amounts in thousands of U.S. dollars)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 87%; font-size: 10pt; text-align: left"&gt;Opening net book amount&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;234,149&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,267&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,690&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,957&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Cancellations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,688&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Repayments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(43,974&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest accrued&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,766&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;230,167&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:LeaseLiabilityEvolutionTextBlock>
  <ts:LettersOfCreditCovered contextRef="i_2019-12-31_BorrowingsByNameAxis-SeveralBanksToRefinanceObligationsMember" decimals="-3" id="c59809057" unitRef="iso4217-usd">9800000</ts:LettersOfCreditCovered>
  <ts:LiquidFinancialAssetsPercentage contextRef="i_2019-12-31" decimals="INF" id="c59807509" unitRef="xbrli-pure">0.12</ts:LiquidFinancialAssetsPercentage>
  <ts:LiquidFinancialAssetsPercentage contextRef="i_2018-12-31" decimals="INF" id="c59807511" unitRef="xbrli-pure">0.07</ts:LiquidFinancialAssetsPercentage>
  <ts:LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency contextRef="i_2019-12-31_CurrencyAxis-US" decimals="INF" id="c59807517" unitRef="xbrli-pure">0.95</ts:LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency>
  <ts:LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency contextRef="i_2018-12-31_CurrencyAxis-US" decimals="INF" id="c59807518" unitRef="xbrli-pure">0.95</ts:LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" id="c59808004" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808005" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808006" unitRef="iso4217-usd">852000000</ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808007" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" id="c59808052" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808053" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808054" unitRef="iso4217-usd">909000000</ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808055" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" id="c59808104" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808105" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808106" unitRef="iso4217-usd">312000000</ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808107" unitRef="iso4217-usd">2000000</ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806252" unitRef="iso4217-usd">851674000</ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806253" unitRef="iso4217-usd">909113000</ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax>
  <ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806254" unitRef="iso4217-usd">311571000</ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59807980" unitRef="iso4217-usd">-105000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59807981" unitRef="iso4217-usd">3000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59807982" unitRef="iso4217-usd">-102000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59807983" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808032" unitRef="iso4217-usd">112000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808033" unitRef="iso4217-usd">7000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808034" unitRef="iso4217-usd">119000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808035" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808080" unitRef="iso4217-usd">164000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808081" unitRef="iso4217-usd">1000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808082" unitRef="iso4217-usd">165000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInCostOfSales contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808083" unitRef="iso4217-usd">-1000000</ts:ManagementViewDifferencesInCostOfSales>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59807984" unitRef="iso4217-usd">-1000000</ts:ManagementViewDifferencesInDepreciationAndAmortization>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59807985" unitRef="iso4217-usd">0</ts:ManagementViewDifferencesInDepreciationAndAmortization>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59807986" unitRef="iso4217-usd">-1000000</ts:ManagementViewDifferencesInDepreciationAndAmortization>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59807987" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808036" unitRef="iso4217-usd">-34000000</ts:ManagementViewDifferencesInDepreciationAndAmortization>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808037" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808038" unitRef="iso4217-usd">-34000000</ts:ManagementViewDifferencesInDepreciationAndAmortization>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808039" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808084" unitRef="iso4217-usd">-3000000</ts:ManagementViewDifferencesInDepreciationAndAmortization>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808085" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808086" unitRef="iso4217-usd">-3000000</ts:ManagementViewDifferencesInDepreciationAndAmortization>
  <ts:ManagementViewDifferencesInDepreciationAndAmortization contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808087" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59807992" unitRef="iso4217-usd">6000000</ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet>
  <ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59807993" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59807994" unitRef="iso4217-usd">6000000</ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet>
  <ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59807995" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808092" unitRef="iso4217-usd">2000000</ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet>
  <ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" id="c59808093" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808094" unitRef="iso4217-usd">2000000</ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet>
  <ts:ManagementViewDifferencesInOtherOperatingIncomeExpensesNet contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808095" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59807988" unitRef="iso4217-usd">-1000000</ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59807989" unitRef="iso4217-usd">1000000</ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59807990" unitRef="iso4217-usd">0</ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59807991" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808040" unitRef="iso4217-usd">-2000000</ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808041" unitRef="iso4217-usd">6000000</ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808042" unitRef="iso4217-usd">4000000</ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808043" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808088" unitRef="iso4217-usd">14000000</ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808089" unitRef="iso4217-usd">-6000000</ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808090" unitRef="iso4217-usd">8000000</ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses>
  <ts:ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808091" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewOperatingIncome contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59807976" unitRef="iso4217-usd">857000000</ts:ManagementViewOperatingIncome>
  <ts:ManagementViewOperatingIncome contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59807977" unitRef="iso4217-usd">73000000</ts:ManagementViewOperatingIncome>
  <ts:ManagementViewOperatingIncome contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59807978" unitRef="iso4217-usd">929000000</ts:ManagementViewOperatingIncome>
  <ts:ManagementViewOperatingIncome contextRef="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59807979" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewOperatingIncome contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808028" unitRef="iso4217-usd">702000000</ts:ManagementViewOperatingIncome>
  <ts:ManagementViewOperatingIncome contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808029" unitRef="iso4217-usd">81000000</ts:ManagementViewOperatingIncome>
  <ts:ManagementViewOperatingIncome contextRef="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808030" unitRef="iso4217-usd">783000000</ts:ManagementViewOperatingIncome>
  <ts:ManagementViewOperatingIncome contextRef="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" id="c59808031" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:ManagementViewOperatingIncome contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember" decimals="-3" id="c59808076" unitRef="iso4217-usd">115000000</ts:ManagementViewOperatingIncome>
  <ts:ManagementViewOperatingIncome contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember" decimals="-3" id="c59808077" unitRef="iso4217-usd">48000000</ts:ManagementViewOperatingIncome>
  <ts:ManagementViewOperatingIncome contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808078" unitRef="iso4217-usd">163000000</ts:ManagementViewOperatingIncome>
  <ts:ManagementViewOperatingIncome contextRef="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember" decimals="-3" id="c59808079" unitRef="iso4217-usd">3000000</ts:ManagementViewOperatingIncome>
  <ts:ManufacturingCapacitySteelPipes contextRef="i_2019-02-05_JointVenturesAxis-WeldedPipePlantInWestSiberiaMember" decimals="INF" id="c59810438" unitRef="utr-t">300000</ts:ManufacturingCapacitySteelPipes>
  <ts:ManufacturingCapacitySteelPipes contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="INF" id="c59810444" unitRef="utr-t">360000</ts:ManufacturingCapacitySteelPipes>
  <ts:MasterDistributionAgreementTerm contextRef="d_2020-01-02_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" id="c59810874">P6Y</ts:MasterDistributionAgreementTerm>
  <ts:MasterDistributionAgreementTermAvailableExtension contextRef="d_2020-01-02_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" id="c59810876">P1Y</ts:MasterDistributionAgreementTermAvailableExtension>
  <ts:MaximumNumberOfTonsOfPelletsSuppliedAnnually contextRef="i_2019-12-31_CounterpartiesAxis-ValeInternationalSAMember" decimals="-4" id="c59810424" unitRef="utr-t">770000</ts:MaximumNumberOfTonsOfPelletsSuppliedAnnually>
  <ts:NationalizationOfSubsidiariesBasisSpreadOnVariableRate contextRef="i_2016-12-12_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-TavsaAndComsiguaMember" decimals="2" id="c59810860" unitRef="xbrli-pure">0.04</ts:NationalizationOfSubsidiariesBasisSpreadOnVariableRate>
  <ts:NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest contextRef="d_2016-01-29_2016-01-29_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-MatesiMaterialesSiderrgicosSaMember" decimals="-5" id="c59810846" unitRef="iso4217-usd">172800000</ts:NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest>
  <ts:NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest contextRef="d_2016-12-12_2016-12-12_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-TavsaAndComsiguaMember" decimals="-5" id="c59810858" unitRef="iso4217-usd">137000000</ts:NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest>
  <ts:NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest contextRef="d_2016-01-29_2016-01-29_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-MatesiMaterialesSiderrgicosSaMember" decimals="-5" id="c59810844" unitRef="iso4217-usd">87300000</ts:NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest>
  <ts:NationalizationOfSubsidiariesCompensationAwardPostawardInterest contextRef="d_2019-01-01_2019-12-31_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-MatesiMaterialesSiderrgicosSaMember" decimals="-5" id="c59810852" unitRef="iso4217-usd">71000000</ts:NationalizationOfSubsidiariesCompensationAwardPostawardInterest>
  <ts:NationalizationOfSubsidiariesPostawardInterestRate contextRef="i_2016-01-29_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-MatesiMaterialesSiderrgicosSaMember" decimals="2" id="c59810850" unitRef="xbrli-pure">0.09</ts:NationalizationOfSubsidiariesPostawardInterestRate>
  <ts:NationalizationOfSubsidiariesPreawardInterest contextRef="d_2016-01-29_2016-01-29_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-MatesiMaterialesSiderrgicosSaMember" decimals="-5" id="c59810845" unitRef="iso4217-usd">85500000</ts:NationalizationOfSubsidiariesPreawardInterest>
  <ts:NationalizationOfSubsidiariesReimbursementOfLegalFees contextRef="d_2016-12-12_2016-12-12_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-TavsaAndComsiguaMember" decimals="-5" id="c59810859" unitRef="iso4217-usd">3300000</ts:NationalizationOfSubsidiariesReimbursementOfLegalFees>
  <ts:NetAssetsSoldInDisposalCarryingAmount contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810545" unitRef="iso4217-usd">137814000</ts:NetAssetsSoldInDisposalCarryingAmount>
  <ts:NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod contextRef="i_2019-12-31_GeographicalAreasAxis-IT" decimals="-3" id="c59807334" unitRef="iso4217-usd">17300000</ts:NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod>
  <ts:NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808485" unitRef="iso4217-usd">-64000</ts:NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL>
  <ts:NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808486" unitRef="iso4217-usd">-2388000</ts:NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL>
  <ts:NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808487" unitRef="iso4217-usd">-3920000</ts:NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL>
  <ts:NetForeignExchangeTransactionResults contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808494" unitRef="iso4217-usd">27868000</ts:NetForeignExchangeTransactionResults>
  <ts:NetForeignExchangeTransactionResults contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808495" unitRef="iso4217-usd">28845000</ts:NetForeignExchangeTransactionResults>
  <ts:NetForeignExchangeTransactionResults contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808496" unitRef="iso4217-usd">-48955000</ts:NetForeignExchangeTransactionResults>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-NotLaterThanOneYearMember" decimals="-3" id="c59809360" unitRef="iso4217-usd">44000</ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember" id="c59809361" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember" id="c59809362" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember" id="c59809363" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember" id="c59809364" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanFiveYearsMember" id="c59809365" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember" decimals="-3" id="c59809366" unitRef="iso4217-usd">44000</ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2019-12-31_BorrowingsByNameAxis-BankBorrowingsMember" decimals="-3" id="c59809311" unitRef="iso4217-usd">40896000</ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2018-12-31_BorrowingsByNameAxis-BankBorrowingsMember" decimals="-3" id="c59809312" unitRef="iso4217-usd">29214000</ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt>
  <ts:NoncurrentBorrowingsBeforeCostsOfIssueOfDebt contextRef="i_2019-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember" id="c59809322" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:NoncurrentCostsOfIssueOfDebt contextRef="i_2019-12-31" decimals="-3" id="c59809313" unitRef="iso4217-usd">16000</ts:NoncurrentCostsOfIssueOfDebt>
  <ts:NoncurrentCostsOfIssueOfDebt contextRef="i_2018-12-31" decimals="-3" id="c59809314" unitRef="iso4217-usd">27000</ts:NoncurrentCostsOfIssueOfDebt>
  <ts:NoncurrentPostemploymentBenefits contextRef="i_2019-12-31" decimals="-3" id="c59810002" unitRef="iso4217-usd">144993000</ts:NoncurrentPostemploymentBenefits>
  <ts:NoncurrentPostemploymentBenefits contextRef="i_2018-12-31" decimals="-3" id="c59810003" unitRef="iso4217-usd">115087000</ts:NoncurrentPostemploymentBenefits>
  <ts:NoncurrentPostemploymentBenefits contextRef="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810010" unitRef="iso4217-usd">125573000</ts:NoncurrentPostemploymentBenefits>
  <ts:NoncurrentPostemploymentBenefits contextRef="i_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember" decimals="-3" id="c59810011" unitRef="iso4217-usd">97318000</ts:NoncurrentPostemploymentBenefits>
  <ts:NoncurrentPostemploymentBenefits contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810012" unitRef="iso4217-usd">19420000</ts:NoncurrentPostemploymentBenefits>
  <ts:NoncurrentPostemploymentBenefits contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="-3" id="c59810013" unitRef="iso4217-usd">17769000</ts:NoncurrentPostemploymentBenefits>
  <ts:NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances contextRef="i_2019-12-31" decimals="-3" id="c59809145" unitRef="iso4217-usd">3772000</ts:NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances>
  <ts:NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances contextRef="i_2018-12-31" decimals="-3" id="c59809146" unitRef="iso4217-usd">7592000</ts:NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances>
  <ts:NoncurrentReceivablesEmployeeAdvancesAndLoans contextRef="i_2019-12-31" decimals="-3" id="c59809137" unitRef="iso4217-usd">6008000</ts:NoncurrentReceivablesEmployeeAdvancesAndLoans>
  <ts:NoncurrentReceivablesEmployeeAdvancesAndLoans contextRef="i_2018-12-31" decimals="-3" id="c59809138" unitRef="iso4217-usd">3740000</ts:NoncurrentReceivablesEmployeeAdvancesAndLoans>
  <ts:NumberOfMajorBusinessSegments contextRef="d_2019-01-01_2019-12-31" decimals="INF" id="c59807205" unitRef="xbrli-pure">1</ts:NumberOfMajorBusinessSegments>
  <ts:NumberOfReportableOperatingSegments contextRef="d_2019-01-01_2019-12-31" decimals="INF" id="c59807396" unitRef="xbrli-pure">1</ts:NumberOfReportableOperatingSegments>
  <ts:NumberOfSharesSubscribedTo contextRef="i_2016-04-30_ClassesOfShareCapitalAxis-PreferenceSharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="INF" id="c59807171" unitRef="xbrli-shares">1300000</ts:NumberOfSharesSubscribedTo>
  <ts:NumberOfSharesSubscribedTo contextRef="i_2016-05-31_ClassesOfShareCapitalAxis-OrdinarySharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="INF" id="c59807175" unitRef="xbrli-shares">11500000</ts:NumberOfSharesSubscribedTo>
  <ts:NumberOfVotesPerShare contextRef="d_2019-01-01_2019-12-31" decimals="INF" id="c59807316" unitRef="xbrli-pure">1</ts:NumberOfVotesPerShare>
  <ts:NumberOfVotesPerShare contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c59807407" unitRef="xbrli-pure">1</ts:NumberOfVotesPerShare>
  <ts:NumberOfVotesPerShare contextRef="d_2018-01-01_2018-12-31" decimals="INF" id="c59807408" unitRef="xbrli-pure">1</ts:NumberOfVotesPerShare>
  <ts:OtherAssetsPercentContributedToFairValueOfPlanAssets contextRef="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="3" id="c59810114" unitRef="xbrli-pure">0.04</ts:OtherAssetsPercentContributedToFairValueOfPlanAssets>
  <ts:OtherAssetsPercentContributedToFairValueOfPlanAssets contextRef="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember" decimals="3" id="c59810115" unitRef="xbrli-pure">0.037</ts:OtherAssetsPercentContributedToFairValueOfPlanAssets>
  <ts:OtherAssetsRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810947" unitRef="iso4217-usd">46000000</ts:OtherAssetsRecognisedAsOfAcquisitionDate>
  <ts:OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806333" unitRef="iso4217-usd">812000</ts:OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies>
  <ts:OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806334" unitRef="iso4217-usd">-132000</ts:OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies>
  <ts:OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806335" unitRef="iso4217-usd">512000</ts:OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies>
  <ts:OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59806330" unitRef="iso4217-usd">10781000</ts:OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies>
  <ts:OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59806331" unitRef="iso4217-usd">-1848000</ts:OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies>
  <ts:OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59806332" unitRef="iso4217-usd">9548000</ts:OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies>
  <ts:OtherCurrentMiscellaneousLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59810118" unitRef="iso4217-usd">23255000</ts:OtherCurrentMiscellaneousLiabilities>
  <ts:OtherCurrentMiscellaneousLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59810119" unitRef="iso4217-usd">17624000</ts:OtherCurrentMiscellaneousLiabilities>
  <ts:OtherExpenseIncludingDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808462" unitRef="iso4217-usd">11199000</ts:OtherExpenseIncludingDiscontinuedOperations>
  <ts:OtherExpenseIncludingDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808463" unitRef="iso4217-usd">12558000</ts:OtherExpenseIncludingDiscontinuedOperations>
  <ts:OtherExpenseIncludingDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808464" unitRef="iso4217-usd">9360000</ts:OtherExpenseIncludingDiscontinuedOperations>
  <ts:OtherFinancialIncomeCost contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808503" unitRef="iso4217-usd">14667000</ts:OtherFinancialIncomeCost>
  <ts:OtherFinancialIncomeCost contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808504" unitRef="iso4217-usd">34386000</ts:OtherFinancialIncomeCost>
  <ts:OtherFinancialIncomeCost contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808505" unitRef="iso4217-usd">-43559000</ts:OtherFinancialIncomeCost>
  <ts:OtherForeignExchangeResults contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808500" unitRef="iso4217-usd">-1585000</ts:OtherForeignExchangeResults>
  <ts:OtherForeignExchangeResults contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808501" unitRef="iso4217-usd">-1035000</ts:OtherForeignExchangeResults>
  <ts:OtherForeignExchangeResults contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808502" unitRef="iso4217-usd">14392000</ts:OtherForeignExchangeResults>
  <ts:OtherLiabilitiesRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810950" unitRef="iso4217-usd">77000000</ts:OtherLiabilitiesRecognisedAsOfAcquisitionDate>
  <ts:OtherNoncurrentBenefits contextRef="i_2019-12-31" decimals="-3" id="c59810004" unitRef="iso4217-usd">85473000</ts:OtherNoncurrentBenefits>
  <ts:OtherNoncurrentBenefits contextRef="i_2018-12-31" decimals="-3" id="c59810005" unitRef="iso4217-usd">78492000</ts:OtherNoncurrentBenefits>
  <ts:OtherNoncurrentMiscellaneousLiabilities contextRef="i_2019-12-31" decimals="-3" id="c59810006" unitRef="iso4217-usd">20917000</ts:OtherNoncurrentMiscellaneousLiabilities>
  <ts:OtherNoncurrentMiscellaneousLiabilities contextRef="i_2018-12-31" decimals="-3" id="c59810007" unitRef="iso4217-usd">19550000</ts:OtherNoncurrentMiscellaneousLiabilities>
  <ts:OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808453" unitRef="iso4217-usd">11199000</ts:OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations>
  <ts:OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808454" unitRef="iso4217-usd">11379000</ts:OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations>
  <ts:OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808455" unitRef="iso4217-usd">9158000</ts:OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations>
  <ts:OtherOperatingExpenseDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" id="c59808465" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:OtherOperatingExpenseDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" id="c59808466" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:OtherOperatingExpenseDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808467" unitRef="iso4217-usd">1000</ts:OtherOperatingExpenseDiscontinuedOperations>
  <ts:OtherOperatingExpensesAllowanceForDoubtfulReceivables contextRef="d_2019-01-01_2019-12-31" id="c59808459" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:OtherOperatingExpensesAllowanceForDoubtfulReceivables contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808460" unitRef="iso4217-usd">1179000</ts:OtherOperatingExpensesAllowanceForDoubtfulReceivables>
  <ts:OtherOperatingExpensesAllowanceForDoubtfulReceivables contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808461" unitRef="iso4217-usd">84000</ts:OtherOperatingExpensesAllowanceForDoubtfulReceivables>
  <ts:OtherOperatingIncomeNetIncomeFromOtherSales contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808437" unitRef="iso4217-usd">8651000</ts:OtherOperatingIncomeNetIncomeFromOtherSales>
  <ts:OtherOperatingIncomeNetIncomeFromOtherSales contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808438" unitRef="iso4217-usd">3604000</ts:OtherOperatingIncomeNetIncomeFromOtherSales>
  <ts:OtherOperatingIncomeNetIncomeFromOtherSales contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808439" unitRef="iso4217-usd">4395000</ts:OtherOperatingIncomeNetIncomeFromOtherSales>
  <ts:OtherOperatingIncomeNetRents contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808440" unitRef="iso4217-usd">5089000</ts:OtherOperatingIncomeNetRents>
  <ts:OtherOperatingIncomeNetRents contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808441" unitRef="iso4217-usd">4909000</ts:OtherOperatingIncomeNetRents>
  <ts:OtherOperatingIncomeNetRents contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808442" unitRef="iso4217-usd">4325000</ts:OtherOperatingIncomeNetRents>
  <ts:OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808446" unitRef="iso4217-usd">1239000</ts:OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts>
  <ts:OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts contextRef="d_2018-01-01_2018-12-31" id="c59808447" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts contextRef="d_2017-01-01_2017-12-31" id="c59808448" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:OtherReceivablesRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810466" unitRef="iso4217-sar">11000000</ts:OtherReceivablesRecognisedAsOfAcquisitionDate>
  <ts:OtherReceivablesRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810467" unitRef="iso4217-usd">3000000</ts:OtherReceivablesRecognisedAsOfAcquisitionDate>
  <ts:OverfundedPlan contextRef="i_2019-12-31" decimals="-5" id="c59809968" unitRef="iso4217-usd">4200000</ts:OverfundedPlan>
  <ts:OverfundedPlan contextRef="i_2018-12-31" decimals="-5" id="c59809969" unitRef="iso4217-usd">3300000</ts:OverfundedPlan>
  <ts:PaymentsForSettlement contextRef="d_2018-10-09_2018-10-09_CounterpartyNameAxis-ChubbMember_LegalEntityAxis-ConfabMember" decimals="-5" id="c59810356" unitRef="iso4217-usd">3500000</ts:PaymentsForSettlement>
  <ts:PercentOfAnnualIronOreNeedsSupplied contextRef="i_2019-12-31_CounterpartiesAxis-ValeInternationalSAMember" decimals="4" id="c59810423" unitRef="xbrli-pure">0.7</ts:PercentOfAnnualIronOreNeedsSupplied>
  <ts:PercentOfCompanyVotingCapital contextRef="i_2018-04-10_LegalEntityAxis-UsiminasMember_TypesOfContractsAxis-TheNewSHAMember" decimals="INF" id="c59807183" unitRef="xbrli-pure">0.686</ts:PercentOfCompanyVotingCapital>
  <ts:PercentOfCompanyVotingCapital contextRef="i_2018-04-10_LegalEntityAxis-TTGroupMember_TypesOfContractsAxis-TheNewSHAMember" decimals="INF" id="c59807184" unitRef="xbrli-pure">0.471</ts:PercentOfCompanyVotingCapital>
  <ts:PercentOfCompanyVotingCapital contextRef="i_2018-04-10_LegalEntityAxis-TerniumEntititesMember_TypesOfContractsAxis-TheNewSHAMember" decimals="INF" id="c59807185" unitRef="xbrli-pure">0.395</ts:PercentOfCompanyVotingCapital>
  <ts:PercentOfCompanyVotingCapital contextRef="i_2018-04-10_LegalEntityAxis-ConfabMember_TypesOfContractsAxis-TheNewSHAMember" decimals="INF" id="c59807186" unitRef="xbrli-pure">0.076</ts:PercentOfCompanyVotingCapital>
  <ts:PercentOfCompanyVotingCapital contextRef="i_2018-04-10_LegalEntityAxis-NSSMCMember_TypesOfContractsAxis-TheNewSHAMember" decimals="INF" id="c59807187" unitRef="xbrli-pure">0.459</ts:PercentOfCompanyVotingCapital>
  <ts:PercentOfCompanyVotingCapital contextRef="i_2018-04-10_LegalEntityAxis-PrevidenciaUsiminasMember_TypesOfContractsAxis-TheNewSHAMember" decimals="INF" id="c59807188" unitRef="xbrli-pure">0.07</ts:PercentOfCompanyVotingCapital>
  <ts:PerformanceGuaranteesIssued contextRef="i_2019-12-31" decimals="-5" id="c59810429" unitRef="iso4217-usd">2500000000</ts:PerformanceGuaranteesIssued>
  <ts:ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties contextRef="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" decimals="-3" id="c59809049" unitRef="iso4217-usd">40500000</ts:ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties>
  <ts:ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59807048" unitRef="iso4217-usd">1000</ts:ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ts:ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59807049" unitRef="iso4217-usd">-24000</ts:ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ts:ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59807050" unitRef="iso4217-usd">-49000</ts:ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl>
  <ts:PropertyPlantAndEquipmentCapitalizedInterest contextRef="i_2019-12-31" decimals="-5" id="c59808592" unitRef="iso4217-usd">35400000</ts:PropertyPlantAndEquipmentCapitalizedInterest>
  <ts:PropertyPlantAndEquipmentCapitalizedInterest contextRef="i_2018-12-31" decimals="-5" id="c59808593" unitRef="iso4217-usd">37400000</ts:PropertyPlantAndEquipmentCapitalizedInterest>
  <ts:ProportionOfCorporateGuaranteeCoveringObligations contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" decimals="INF" id="c59809054" unitRef="xbrli-pure">0.22</ts:ProportionOfCorporateGuaranteeCoveringObligations>
  <ts:ProvisionForExposureToPurchaseAndOtherServiceAgreements contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" decimals="-3" id="c59809045" unitRef="iso4217-usd">900000</ts:ProvisionForExposureToPurchaseAndOtherServiceAgreements>
  <ts:ProvisionForExposureToThePurchaseOfCleanEnergyCertificates contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" decimals="-3" id="c59809047" unitRef="iso4217-usd">18200000</ts:ProvisionForExposureToThePurchaseOfCleanEnergyCertificates>
  <ts:ProvisionForExposureToTransportationCapacityAgreements contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" decimals="-3" id="c59809044" unitRef="iso4217-usd">51900000</ts:ProvisionForExposureToTransportationCapacityAgreements>
  <ts:ProvisionsRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810949" unitRef="iso4217-usd">27000000</ts:ProvisionsRecognisedAsOfAcquisitionDate>
  <ts:PurchaseCommitments contextRef="i_2019-12-31_CounterpartiesAxis-TransportadoraDeGasDelNorteSaMember" decimals="-5" id="c59810410" unitRef="iso4217-usd">27400000</ts:PurchaseCommitments>
  <ts:PurchaseCommitments contextRef="i_2019-12-31_CounterpartiesAxis-PraxairSAMember" decimals="-5" id="c59810412" unitRef="iso4217-usd">53700000</ts:PurchaseCommitments>
  <ts:PurchaseCommitments contextRef="i_2019-12-31_CounterpartiesAxis-GraftechMember" decimals="-5" id="c59810413" unitRef="iso4217-usd">26800000</ts:PurchaseCommitments>
  <ts:PurchaseCommitments contextRef="i_2019-12-31_CounterpartiesAxis-ValeInternationalSAMember" decimals="-5" id="c59810425" unitRef="iso4217-usd">33600000</ts:PurchaseCommitments>
  <ts:PurchaseCommitments contextRef="i_2019-12-31_CounterpartiesAxis-CanadianNationalRailwayMember" decimals="-5" id="c59810426" unitRef="iso4217-usd">18900000</ts:PurchaseCommitments>
  <ts:PurchaseCommitments contextRef="i_2019-12-31_CounterpartiesAxis-AirLiquideMexicoSDeRLDeCVMember" decimals="-5" id="c59810427" unitRef="iso4217-usd">21200000</ts:PurchaseCommitments>
  <ts:PurchaseCommitments contextRef="i_2019-12-31_CounterpartiesAxis-NucorSteelMemphisIncMember" decimals="-5" id="c59810428" unitRef="iso4217-usd">107100000</ts:PurchaseCommitments>
  <ts:PurchasesOfGoodsAndServicesRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810638" unitRef="iso4217-usd">290271000</ts:PurchasesOfGoodsAndServicesRelatedPartyTransactions>
  <ts:PurchasesOfGoodsAndServicesRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810639" unitRef="iso4217-usd">407545000</ts:PurchasesOfGoodsAndServicesRelatedPartyTransactions>
  <ts:PurchasesOfGoodsAndServicesRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810640" unitRef="iso4217-usd">314943000</ts:PurchasesOfGoodsAndServicesRelatedPartyTransactions>
  <ts:ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances contextRef="i_2019-12-31" decimals="-3" id="c59809179" unitRef="iso4217-usd">17180000</ts:ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances>
  <ts:ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances contextRef="i_2018-12-31" decimals="-3" id="c59809180" unitRef="iso4217-usd">23467000</ts:ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances>
  <ts:ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans contextRef="i_2019-12-31" decimals="-3" id="c59809177" unitRef="iso4217-usd">8189000</ts:ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans>
  <ts:ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans contextRef="i_2018-12-31" decimals="-3" id="c59809178" unitRef="iso4217-usd">6521000</ts:ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans>
  <ts:ReceivablesAndPrepaymentsGovernmentEntities contextRef="i_2019-12-31" decimals="-3" id="c59809175" unitRef="iso4217-usd">1867000</ts:ReceivablesAndPrepaymentsGovernmentEntities>
  <ts:ReceivablesAndPrepaymentsGovernmentEntities contextRef="i_2018-12-31" decimals="-3" id="c59809176" unitRef="iso4217-usd">2182000</ts:ReceivablesAndPrepaymentsGovernmentEntities>
  <ts:ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports contextRef="i_2019-12-31" decimals="-3" id="c59809181" unitRef="iso4217-usd">670000</ts:ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports>
  <ts:ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports contextRef="i_2018-12-31" decimals="-3" id="c59809182" unitRef="iso4217-usd">4896000</ts:ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports>
  <ts:ReceivablesAndPrepaymentsGross contextRef="i_2019-12-31" decimals="-3" id="c59809187" unitRef="iso4217-usd">109467000</ts:ReceivablesAndPrepaymentsGross>
  <ts:ReceivablesAndPrepaymentsGross contextRef="i_2018-12-31" decimals="-3" id="c59809188" unitRef="iso4217-usd">162669000</ts:ReceivablesAndPrepaymentsGross>
  <ts:ReceivablesAndPrepaymentsMiscellaneous contextRef="i_2019-12-31" decimals="-3" id="c59809185" unitRef="iso4217-usd">31145000</ts:ReceivablesAndPrepaymentsMiscellaneous>
  <ts:ReceivablesAndPrepaymentsMiscellaneous contextRef="i_2018-12-31" decimals="-3" id="c59809186" unitRef="iso4217-usd">30682000</ts:ReceivablesAndPrepaymentsMiscellaneous>
  <ts:ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables contextRef="i_2019-12-31" decimals="-3" id="c59809173" unitRef="iso4217-usd">30579000</ts:ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables>
  <ts:ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables contextRef="i_2018-12-31" decimals="-3" id="c59809174" unitRef="iso4217-usd">31599000</ts:ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables>
  <ts:ReceivablesAndPrepaymentsReceivablesFromRelatedParties contextRef="i_2019-12-31" decimals="-3" id="c59809183" unitRef="iso4217-usd">19837000</ts:ReceivablesAndPrepaymentsReceivablesFromRelatedParties>
  <ts:ReceivablesAndPrepaymentsReceivablesFromRelatedParties contextRef="i_2018-12-31" decimals="-3" id="c59809184" unitRef="iso4217-usd">63322000</ts:ReceivablesAndPrepaymentsReceivablesFromRelatedParties>
  <ts:ReceivablesFromInterestInVenezuelanCompanies contextRef="i_2019-12-31" decimals="-3" id="c59809149" unitRef="iso4217-usd">48659000</ts:ReceivablesFromInterestInVenezuelanCompanies>
  <ts:ReceivablesFromInterestInVenezuelanCompanies contextRef="i_2018-12-31" decimals="-3" id="c59809150" unitRef="iso4217-usd">48659000</ts:ReceivablesFromInterestInVenezuelanCompanies>
  <ts:RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage contextRef="i_2019-12-31" decimals="3" id="c59809486" unitRef="xbrli-pure">0.973</ts:RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage>
  <ts:RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage contextRef="i_2019-12-31" decimals="3" id="c59809485" unitRef="xbrli-pure">0.025</ts:RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage>
  <ts:RecognizedTaxLossesExpiringWithinOneYearPercentage contextRef="i_2019-12-31" decimals="3" id="c59809484" unitRef="xbrli-pure">0.002</ts:RecognizedTaxLossesExpiringWithinOneYearPercentage>
  <ts:ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses contextRef="d_2020-02-19_2020-02-19_NonadjustingEventsAfterReportingPeriodAxis-GlobalPandemicMember" decimals="-5" id="c59815103" unitRef="iso4217-usd">150000000</ts:ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses>
  <ts:RemainingLeasePaymentsToBeMadePercentage contextRef="i_2019-12-31_MaturityAxis-NotLaterThanOneYearMember" decimals="3" id="c59808945" unitRef="xbrli-pure">0.16</ts:RemainingLeasePaymentsToBeMadePercentage>
  <ts:RemainingLeasePaymentsToBeMadePercentage contextRef="i_2019-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanFiveYearsMember" decimals="3" id="c59808946" unitRef="xbrli-pure">0.44</ts:RemainingLeasePaymentsToBeMadePercentage>
  <ts:RemainingLeasePaymentsToBeMadePercentage contextRef="i_2019-12-31_MaturityAxis-LaterThanFiveYearsMember" decimals="3" id="c59808947" unitRef="xbrli-pure">0.4</ts:RemainingLeasePaymentsToBeMadePercentage>
  <ts:RevenueRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59810612" unitRef="iso4217-usd">100555000</ts:RevenueRelatedPartyTransactions>
  <ts:RevenueRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59810613" unitRef="iso4217-usd">168545000</ts:RevenueRelatedPartyTransactions>
  <ts:RevenueRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810614" unitRef="iso4217-usd">142374000</ts:RevenueRelatedPartyTransactions>
  <ts:RightofuseAssetsAccumulatedDepreciation contextRef="i_2018-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" id="c59808980" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:RightofuseAssetsAccumulatedDepreciation contextRef="i_2018-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" id="c59808981" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:RightofuseAssetsAccumulatedDepreciation contextRef="i_2018-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" id="c59808982" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:RightofuseAssetsAccumulatedDepreciation contextRef="i_2018-12-31" id="c59808983" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:RightofuseAssetsAccumulatedDepreciation contextRef="i_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59809000" unitRef="iso4217-usd">8330000</ts:RightofuseAssetsAccumulatedDepreciation>
  <ts:RightofuseAssetsAccumulatedDepreciation contextRef="i_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59809001" unitRef="iso4217-usd">30581000</ts:RightofuseAssetsAccumulatedDepreciation>
  <ts:RightofuseAssetsAccumulatedDepreciation contextRef="i_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59809002" unitRef="iso4217-usd">3683000</ts:RightofuseAssetsAccumulatedDepreciation>
  <ts:RightofuseAssetsAccumulatedDepreciation contextRef="i_2019-12-31" decimals="-3" id="c59809003" unitRef="iso4217-usd">42594000</ts:RightofuseAssetsAccumulatedDepreciation>
  <ts:RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808996" unitRef="iso4217-usd">181000</ts:RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions>
  <ts:RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808997" unitRef="iso4217-usd">1229000</ts:RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions>
  <ts:RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808998" unitRef="iso4217-usd">295000</ts:RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions>
  <ts:RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808999" unitRef="iso4217-usd">1705000</ts:RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions>
  <ts:RightofuseAssetsAccumulatedDepreciationTransfersReclassifications contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" id="c59808992" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:RightofuseAssetsAccumulatedDepreciationTransfersReclassifications contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808993" unitRef="iso4217-usd">-62000</ts:RightofuseAssetsAccumulatedDepreciationTransfersReclassifications>
  <ts:RightofuseAssetsAccumulatedDepreciationTransfersReclassifications contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808994" unitRef="iso4217-usd">62000</ts:RightofuseAssetsAccumulatedDepreciationTransfersReclassifications>
  <ts:RightofuseAssetsAccumulatedDepreciationTransfersReclassifications contextRef="d_2019-01-01_2019-12-31" id="c59808995" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:RightofuseAssetsAccumulatedDepreciationTranslationDifferences contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808984" unitRef="iso4217-usd">-3000</ts:RightofuseAssetsAccumulatedDepreciationTranslationDifferences>
  <ts:RightofuseAssetsAccumulatedDepreciationTranslationDifferences contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808985" unitRef="iso4217-usd">3000</ts:RightofuseAssetsAccumulatedDepreciationTranslationDifferences>
  <ts:RightofuseAssetsAccumulatedDepreciationTranslationDifferences contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808986" unitRef="iso4217-usd">8000</ts:RightofuseAssetsAccumulatedDepreciationTranslationDifferences>
  <ts:RightofuseAssetsAccumulatedDepreciationTranslationDifferences contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808987" unitRef="iso4217-usd">8000</ts:RightofuseAssetsAccumulatedDepreciationTranslationDifferences>
  <ts:RightofuseAssetsCost contextRef="i_2018-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808951" unitRef="iso4217-usd">27713000</ts:RightofuseAssetsCost>
  <ts:RightofuseAssetsCost contextRef="i_2018-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808952" unitRef="iso4217-usd">202352000</ts:RightofuseAssetsCost>
  <ts:RightofuseAssetsCost contextRef="i_2018-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808953" unitRef="iso4217-usd">8335000</ts:RightofuseAssetsCost>
  <ts:RightofuseAssetsCost contextRef="i_2018-12-31" decimals="-3" id="c59808954" unitRef="iso4217-usd">238400000</ts:RightofuseAssetsCost>
  <ts:RightofuseAssetsCost contextRef="i_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808975" unitRef="iso4217-usd">36137000</ts:RightofuseAssetsCost>
  <ts:RightofuseAssetsCost contextRef="i_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808976" unitRef="iso4217-usd">225389000</ts:RightofuseAssetsCost>
  <ts:RightofuseAssetsCost contextRef="i_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808977" unitRef="iso4217-usd">14194000</ts:RightofuseAssetsCost>
  <ts:RightofuseAssetsCost contextRef="i_2019-12-31" decimals="-3" id="c59808978" unitRef="iso4217-usd">275720000</ts:RightofuseAssetsCost>
  <ts:RightofuseAssetsCostAdditions contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808963" unitRef="iso4217-usd">9292000</ts:RightofuseAssetsCostAdditions>
  <ts:RightofuseAssetsCostAdditions contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808964" unitRef="iso4217-usd">24985000</ts:RightofuseAssetsCostAdditions>
  <ts:RightofuseAssetsCostAdditions contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808965" unitRef="iso4217-usd">7165000</ts:RightofuseAssetsCostAdditions>
  <ts:RightofuseAssetsCostAdditions contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808966" unitRef="iso4217-usd">41442000</ts:RightofuseAssetsCostAdditions>
  <ts:RightofuseAssetsCostCurrencyTranslationAdjustments contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808959" unitRef="iso4217-usd">-88000</ts:RightofuseAssetsCostCurrencyTranslationAdjustments>
  <ts:RightofuseAssetsCostCurrencyTranslationAdjustments contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808960" unitRef="iso4217-usd">6000</ts:RightofuseAssetsCostCurrencyTranslationAdjustments>
  <ts:RightofuseAssetsCostCurrencyTranslationAdjustments contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808961" unitRef="iso4217-usd">8000</ts:RightofuseAssetsCostCurrencyTranslationAdjustments>
  <ts:RightofuseAssetsCostCurrencyTranslationAdjustments contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808962" unitRef="iso4217-usd">-74000</ts:RightofuseAssetsCostCurrencyTranslationAdjustments>
  <ts:RightofuseAssetsCostDisposals contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808967" unitRef="iso4217-usd">1009000</ts:RightofuseAssetsCostDisposals>
  <ts:RightofuseAssetsCostDisposals contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808968" unitRef="iso4217-usd">4488000</ts:RightofuseAssetsCostDisposals>
  <ts:RightofuseAssetsCostDisposals contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808969" unitRef="iso4217-usd">818000</ts:RightofuseAssetsCostDisposals>
  <ts:RightofuseAssetsCostDisposals contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808970" unitRef="iso4217-usd">6315000</ts:RightofuseAssetsCostDisposals>
  <ts:RightofuseAssetsCostIncreaseDueToBusinessCombinations contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" decimals="-3" id="c59808955" unitRef="iso4217-usd">229000</ts:RightofuseAssetsCostIncreaseDueToBusinessCombinations>
  <ts:RightofuseAssetsCostIncreaseDueToBusinessCombinations contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808956" unitRef="iso4217-usd">2038000</ts:RightofuseAssetsCostIncreaseDueToBusinessCombinations>
  <ts:RightofuseAssetsCostIncreaseDueToBusinessCombinations contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" id="c59808957" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:RightofuseAssetsCostIncreaseDueToBusinessCombinations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808958" unitRef="iso4217-usd">2267000</ts:RightofuseAssetsCostIncreaseDueToBusinessCombinations>
  <ts:RightofuseAssetsCostTransfers contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember" id="c59808971" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:RightofuseAssetsCostTransfers contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember" decimals="-3" id="c59808972" unitRef="iso4217-usd">496000</ts:RightofuseAssetsCostTransfers>
  <ts:RightofuseAssetsCostTransfers contextRef="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember" decimals="-3" id="c59808973" unitRef="iso4217-usd">-496000</ts:RightofuseAssetsCostTransfers>
  <ts:RightofuseAssetsCostTransfers contextRef="d_2019-01-01_2019-12-31" id="c59808974" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:RightofuseAssetsEvolutionTextBlock contextRef="d_2019-01-01_2019-12-31" id="c-22">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Year ended December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Land and Civil&lt;br /&gt; Buildings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Industrial &lt;br /&gt; Buildings, Plant &lt;br /&gt; and Production&lt;br /&gt; Equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Vehicles, furniture&lt;br /&gt; and fixtures&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: justify"&gt;Opening net book amount&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27,713&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;202,352&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,335&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;238,400&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Increase due to business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;229&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,038&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;2,267&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Currency translation adjustment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(74&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Additions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;9,292&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;24,985&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,165&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;41,442&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,009&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(4,488&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(818&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(6,315&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt"&gt;Transfers&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;496&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(496&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;36,137&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;225,389&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;14,194&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;275,720&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Accumulated at the beginning of the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Translation differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Depreciation charge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,514&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;31,869&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,908&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;44,291&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers / Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(62&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;62&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Disposals / Consumptions&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(181&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,229&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(295&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;(1,705&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Accumulated at the end of the year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;8,330&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;30,581&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;3,683&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;42,594&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;At December 31, 2019&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;27,807&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;194,808&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;10,511&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;233,126&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:RightofuseAssetsEvolutionTextBlock>
  <ts:SegmentRevenuesByMarketExplanatory contextRef="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember" id="c-10">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;Revenues Tubes&amp;nbsp;&amp;nbsp;(in million US dollar)&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Oil and Gas&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;5,757&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,042&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,034&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Hydrocarbon Processing and Power Generation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;534&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;602&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;484&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;Industrial and Other&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;579&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;589&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;448&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;6,870&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;7,233&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font: inherit;"&gt;4,966&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ts:SegmentRevenuesByMarketExplanatory>
  <ts:SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808355" unitRef="iso4217-usd">-16256000</ts:SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts>
  <ts:SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808356" unitRef="iso4217-usd">1751000</ts:SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts>
  <ts:SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808357" unitRef="iso4217-usd">-5421000</ts:SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts>
  <ts:SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets contextRef="d_2018-01-01_2018-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember" decimals="-3" id="c59807272" unitRef="iso4217-usd">109000000</ts:SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets>
  <ts:SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808343" unitRef="iso4217-usd">41967000</ts:SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets>
  <ts:SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808344" unitRef="iso4217-usd">206672000</ts:SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets>
  <ts:SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808345" unitRef="iso4217-usd">188550000</ts:SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets>
  <ts:SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808349" unitRef="iso4217-usd">441442000</ts:SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses>
  <ts:SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808350" unitRef="iso4217-usd">491555000</ts:SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses>
  <ts:SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808351" unitRef="iso4217-usd">339759000</ts:SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses>
  <ts:SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808340" unitRef="iso4217-usd">18524000</ts:SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment>
  <ts:SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808341" unitRef="iso4217-usd">16968000</ts:SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment>
  <ts:SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808342" unitRef="iso4217-usd">17979000</ts:SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment>
  <ts:SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808346" unitRef="iso4217-usd">15564000</ts:SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets>
  <ts:SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets contextRef="d_2018-01-01_2018-12-31" id="c59808347" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets contextRef="d_2017-01-01_2017-12-31" id="c59808348" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:SellingGeneralAndAdministrativeExpensesDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" id="c59808367" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:SellingGeneralAndAdministrativeExpensesDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" id="c59808368" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:SellingGeneralAndAdministrativeExpensesDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808369" unitRef="iso4217-usd">2041000</ts:SellingGeneralAndAdministrativeExpensesDiscontinuedOperations>
  <ts:SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808364" unitRef="iso4217-usd">1365974000</ts:SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations>
  <ts:SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808365" unitRef="iso4217-usd">1509976000</ts:SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations>
  <ts:SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808366" unitRef="iso4217-usd">1272057000</ts:SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations>
  <ts:SellingGeneralAndAdministrativeExpensesLaborCost contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808337" unitRef="iso4217-usd">481854000</ts:SellingGeneralAndAdministrativeExpensesLaborCost>
  <ts:SellingGeneralAndAdministrativeExpensesLaborCost contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808338" unitRef="iso4217-usd">470928000</ts:SellingGeneralAndAdministrativeExpensesLaborCost>
  <ts:SellingGeneralAndAdministrativeExpensesLaborCost contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808339" unitRef="iso4217-usd">443338000</ts:SellingGeneralAndAdministrativeExpensesLaborCost>
  <ts:SellingGeneralAndAdministrativeExpensesOther contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808361" unitRef="iso4217-usd">89665000</ts:SellingGeneralAndAdministrativeExpensesOther>
  <ts:SellingGeneralAndAdministrativeExpensesOther contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808362" unitRef="iso4217-usd">99404000</ts:SellingGeneralAndAdministrativeExpensesOther>
  <ts:SellingGeneralAndAdministrativeExpensesOther contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808363" unitRef="iso4217-usd">81061000</ts:SellingGeneralAndAdministrativeExpensesOther>
  <ts:SellingGeneralAndAdministrativeExpensesProvisionsForContingencies contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808352" unitRef="iso4217-usd">28565000</ts:SellingGeneralAndAdministrativeExpensesProvisionsForContingencies>
  <ts:SellingGeneralAndAdministrativeExpensesProvisionsForContingencies contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808353" unitRef="iso4217-usd">23498000</ts:SellingGeneralAndAdministrativeExpensesProvisionsForContingencies>
  <ts:SellingGeneralAndAdministrativeExpensesProvisionsForContingencies contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808354" unitRef="iso4217-usd">17664000</ts:SellingGeneralAndAdministrativeExpensesProvisionsForContingencies>
  <ts:SellingGeneralAndAdministrativeExpensesServicesAndFees contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808334" unitRef="iso4217-usd">153773000</ts:SellingGeneralAndAdministrativeExpensesServicesAndFees>
  <ts:SellingGeneralAndAdministrativeExpensesServicesAndFees contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808335" unitRef="iso4217-usd">128090000</ts:SellingGeneralAndAdministrativeExpensesServicesAndFees>
  <ts:SellingGeneralAndAdministrativeExpensesServicesAndFees contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808336" unitRef="iso4217-usd">132301000</ts:SellingGeneralAndAdministrativeExpensesServicesAndFees>
  <ts:SellingGeneralAndAdministrativeExpensesTaxes contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808358" unitRef="iso4217-usd">110876000</ts:SellingGeneralAndAdministrativeExpensesTaxes>
  <ts:SellingGeneralAndAdministrativeExpensesTaxes contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808359" unitRef="iso4217-usd">71110000</ts:SellingGeneralAndAdministrativeExpensesTaxes>
  <ts:SellingGeneralAndAdministrativeExpensesTaxes contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808360" unitRef="iso4217-usd">56826000</ts:SellingGeneralAndAdministrativeExpensesTaxes>
  <ts:SettlementAmountOrderedToPay contextRef="i_2018-10-10_CounterpartyNameAxis-ChubbMember_LegalEntityAxis-ConfabMember" decimals="-5" id="c59810357" unitRef="iso4217-brl">89800000</ts:SettlementAmountOrderedToPay>
  <ts:SettlementAmountOrderedToPay contextRef="i_2018-10-10_CounterpartyNameAxis-ChubbMember_LegalEntityAxis-ConfabMember" decimals="-5" id="c59810358" unitRef="iso4217-usd">21600000</ts:SettlementAmountOrderedToPay>
  <ts:SettlementAmountOrderedToPayDamages contextRef="i_2019-12-31_CounterpartyNameAxis-VeracelCeluloseSaMember_LegalEntityAxis-ConfabMember" decimals="-5" id="c59810363" unitRef="iso4217-brl">54000000</ts:SettlementAmountOrderedToPayDamages>
  <ts:SettlementAmountOrderedToPayDamages contextRef="i_2019-12-31_CounterpartyNameAxis-VeracelCeluloseSaMember_LegalEntityAxis-ConfabMember" decimals="-5" id="c59810364" unitRef="iso4217-usd">13400000</ts:SettlementAmountOrderedToPayDamages>
  <ts:SettlementAmountOrderedToPayInsuranceDeductible contextRef="i_2019-12-31_CounterpartyNameAxis-VeracelCeluloseSaMember_LegalEntityAxis-ConfabMember" decimals="-5" id="c59810360" unitRef="iso4217-brl">62900000</ts:SettlementAmountOrderedToPayInsuranceDeductible>
  <ts:SettlementAmountOrderedToPayInsuranceDeductible contextRef="i_2019-12-31_CounterpartyNameAxis-VeracelCeluloseSaMember_LegalEntityAxis-ConfabMember" decimals="-5" id="c59810361" unitRef="iso4217-usd">15600000</ts:SettlementAmountOrderedToPayInsuranceDeductible>
  <ts:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59809070" unitRef="iso4217-usd">-9066000</ts:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax>
  <ts:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59809071" unitRef="iso4217-usd">-3987000</ts:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax>
  <ts:SharesBoundToSHA contextRef="i_2018-04-10_LegalEntityAxis-UsiminasMember_TypesOfContractsAxis-TheNewSHAMember" decimals="INF" id="c59807182" unitRef="xbrli-shares">483600000</ts:SharesBoundToSHA>
  <ts:SharesSubscribedToPricePerShare contextRef="i_2016-04-30_ClassesOfShareCapitalAxis-PreferenceSharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="INF" id="c59807172" unitRef="iso4217-brl-per-xbrli-shares">1.28</ts:SharesSubscribedToPricePerShare>
  <ts:SharesSubscribedToPricePerShare contextRef="i_2016-05-31_ClassesOfShareCapitalAxis-OrdinarySharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="INF" id="c59807176" unitRef="iso4217-brl-per-xbrli-shares">5</ts:SharesSubscribedToPricePerShare>
  <ts:SharesSubscribedToValue contextRef="i_2016-04-30_ClassesOfShareCapitalAxis-PreferenceSharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="-5" id="c59807173" unitRef="iso4217-brl">1600000</ts:SharesSubscribedToValue>
  <ts:SharesSubscribedToValue contextRef="i_2016-04-30_ClassesOfShareCapitalAxis-PreferenceSharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="-3" id="c59807174" unitRef="iso4217-usd">500000</ts:SharesSubscribedToValue>
  <ts:SharesSubscribedToValue contextRef="i_2016-05-31_ClassesOfShareCapitalAxis-OrdinarySharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="-5" id="c59807177" unitRef="iso4217-brl">57500000</ts:SharesSubscribedToValue>
  <ts:SharesSubscribedToValue contextRef="i_2016-05-31_ClassesOfShareCapitalAxis-OrdinarySharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="-3" id="c59807178" unitRef="iso4217-usd">16600000</ts:SharesSubscribedToValue>
  <ts:TagalongTenderOfferToNoncontrollingInterests contextRef="d_2013-09-01_2013-09-01_CounterpartiesAxis-CompanhiaSiderrgicaNacionalMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="INF" id="c59810337" unitRef="iso4217-brl-per-xbrli-shares">28.80</ts:TagalongTenderOfferToNoncontrollingInterests>
  <ts:TagalongTenderOfferToNoncontrollingInterestsContingentLiability contextRef="i_2013-09-01_ClassesOfContingentLiabilitiesAxis-LegalProceedingsContingentLiabilityMember_CounterpartiesAxis-CompanhiaSiderrgicaNacionalMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="4" id="c59810340" unitRef="xbrli-pure">0.179</ts:TagalongTenderOfferToNoncontrollingInterestsContingentLiability>
  <ts:TagalongTenderOfferToNoncontrollingInterestsPercentage contextRef="i_2013-09-01_CounterpartiesAxis-CompanhiaSiderrgicaNacionalMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="4" id="c59810336" unitRef="xbrli-pure">0.8</ts:TagalongTenderOfferToNoncontrollingInterestsPercentage>
  <ts:TagalongTenderOfferToNoncontrollingInterestsShares contextRef="d_2013-09-01_2013-09-01_CounterpartiesAxis-CompanhiaSiderrgicaNacionalMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember" decimals="INF" id="c59810338" unitRef="xbrli-shares">182609851</ts:TagalongTenderOfferToNoncontrollingInterestsShares>
  <ts:TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss contextRef="d_2019-01-01_2019-12-31" decimals="-3" id="c59808558" unitRef="iso4217-usd">-37036000</ts:TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss>
  <ts:TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss contextRef="d_2018-01-01_2018-12-31" decimals="-3" id="c59808559" unitRef="iso4217-usd">-57591000</ts:TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss>
  <ts:TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808560" unitRef="iso4217-usd">40298000</ts:TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss>
  <ts:TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations contextRef="d_2019-01-01_2019-12-31" id="c59808537" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations contextRef="d_2018-01-01_2018-12-31" id="c59808538" unitRef="iso4217-usd" xs:nil="true"/>
  <ts:TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59808539" unitRef="iso4217-usd">100720000</ts:TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations>
  <ts:TermOfSupplyContract contextRef="d_2019-01-01_2019-12-31_CounterpartiesAxis-TransportadoraDeGasDelNorteSaMember" id="c59810409">P9Y</ts:TermOfSupplyContract>
  <ts:TermOfSupplyContract contextRef="d_2019-01-01_2019-12-31_CounterpartiesAxis-PraxairSAMember" id="c59810411">P14Y</ts:TermOfSupplyContract>
  <ts:TermOfSupplyContract contextRef="d_2016-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" id="c59810418">P25Y</ts:TermOfSupplyContract>
  <ts:TotalAssetsAndLiabilitiesAcquired contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-5" id="c59810448" unitRef="iso4217-usd">109000000</ts:TotalAssetsAndLiabilitiesAcquired>
  <ts:TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts contextRef="i_2019-12-31" decimals="-3" id="c59809153" unitRef="iso4217-usd">157103000</ts:TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts>
  <ts:TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts contextRef="i_2018-12-31" decimals="-3" id="c59809154" unitRef="iso4217-usd">151905000</ts:TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts>
  <ts:TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c59810544" unitRef="iso4217-usd">3663000</ts:TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations>
  <ts:TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay contextRef="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember" decimals="INF" id="c59809043" unitRef="xbrli-pure">150000</ts:TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay>
  <ts:UnitsIssuedRelatedPartyTransactions contextRef="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-KeyManagementPersonnelOfEntityOrParentMember" decimals="INF" id="c59810584" unitRef="xbrli-shares">468000</ts:UnitsIssuedRelatedPartyTransactions>
  <ts:UnitsIssuedRelatedPartyTransactions contextRef="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-KeyManagementPersonnelOfEntityOrParentMember" decimals="INF" id="c59810585" unitRef="xbrli-shares">558000</ts:UnitsIssuedRelatedPartyTransactions>
  <ts:UnitsIssuedRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-KeyManagementPersonnelOfEntityOrParentMember" decimals="INF" id="c59810586" unitRef="xbrli-shares">484000</ts:UnitsIssuedRelatedPartyTransactions>
  <ts:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears contextRef="i_2019-12-31" decimals="3" id="c59809493" unitRef="xbrli-pure">0.202</ts:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears>
  <ts:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear contextRef="i_2019-12-31" decimals="3" id="c59809492" unitRef="xbrli-pure">0.028</ts:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear>
  <ts:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears contextRef="i_2019-12-31" decimals="3" id="c59809494" unitRef="xbrli-pure">0.77</ts:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears>
  <ts:UsefulLivesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsAndImprovementsMember_RangeAxis-BottomOfRangeMember" id="c59829208">P30Y</ts:UsefulLivesPropertyPlantAndEquipment>
  <ts:UsefulLivesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsAndImprovementsMember_RangeAxis-TopOfRangeMember" id="c59829210">P50Y</ts:UsefulLivesPropertyPlantAndEquipment>
  <ts:UsefulLivesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-PlantAndProductionEquipmentMember_RangeAxis-BottomOfRangeMember" id="c59829211">P10Y</ts:UsefulLivesPropertyPlantAndEquipment>
  <ts:UsefulLivesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-PlantAndProductionEquipmentMember_RangeAxis-TopOfRangeMember" id="c59829213">P40Y</ts:UsefulLivesPropertyPlantAndEquipment>
  <ts:UsefulLivesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesAndOtherEquipmentMember_RangeAxis-BottomOfRangeMember" id="c59829214">P4Y</ts:UsefulLivesPropertyPlantAndEquipment>
  <ts:UsefulLivesPropertyPlantAndEquipment contextRef="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesAndOtherEquipmentMember_RangeAxis-TopOfRangeMember" id="c59829216">P10Y</ts:UsefulLivesPropertyPlantAndEquipment>
  <ts:WorkingCapitalRecognisedAsOfAcquisitionDate contextRef="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember" decimals="-6" id="c59810945" unitRef="iso4217-usd">144000000</ts:WorkingCapitalRecognisedAsOfAcquisitionDate>
  <ts:WorkingCapitalRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810462" unitRef="iso4217-sar">167000000</ts:WorkingCapitalRecognisedAsOfAcquisitionDate>
  <ts:WorkingCapitalRecognisedAsOfAcquisitionDate contextRef="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember" decimals="-6" id="c59810463" unitRef="iso4217-usd">45000000</ts:WorkingCapitalRecognisedAsOfAcquisitionDate>
  <link:footnoteLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:href="#c59809551" xlink:label="c59809551" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809551" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809609" xlink:label="c59809609" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809609" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809681" xlink:label="c59809681" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809681" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809627" xlink:label="c59809627" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809627" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809569" xlink:label="c59809569" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809569" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809515" xlink:label="c59809515" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809515" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809645" xlink:label="c59809645" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809645" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809587" xlink:label="c59809587" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809587" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809533" xlink:label="c59809533" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809533" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809497" xlink:label="c59809497" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809497" xlink:to="f-125-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809663" xlink:label="c59809663" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809663" xlink:to="f-125-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-125-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Includes the effect of currency translation on tax base. See Note 7.</link:footnote>
    <link:loc xlink:href="#c59806305" xlink:label="c59806305" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806305" xlink:to="f1523730-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806304" xlink:label="c59806304" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806304" xlink:to="f1523730-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806315" xlink:label="c59806315" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806315" xlink:to="f1523730-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806306" xlink:label="c59806306" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806306" xlink:to="f1523730-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806314" xlink:label="c59806314" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806314" xlink:to="f1523730-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806313" xlink:label="c59806313" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806313" xlink:to="f1523730-1" xlink:type="arc"/>
    <link:footnote xlink:label="f1523730-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Each ADS equals two shares.</link:footnote>
    <link:loc xlink:href="#c59807868" xlink:label="c59807868" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807868" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807869" xlink:label="c59807869" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807869" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807867" xlink:label="c59807867" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807867" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807691" xlink:label="c59807691" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807691" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807692" xlink:label="c59807692" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807692" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807690" xlink:label="c59807690" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807690" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807873" xlink:label="c59807873" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807873" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807695" xlink:label="c59807695" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807695" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807871" xlink:label="c59807871" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807871" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807696" xlink:label="c59807696" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807696" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807872" xlink:label="c59807872" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807872" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807693" xlink:label="c59807693" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807693" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807694" xlink:label="c59807694" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807694" xlink:to="f-46-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807870" xlink:label="c59807870" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807870" xlink:to="f-46-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-46-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Includes balances related to interest in our Venezuelan companies. See Note 33.</link:footnote>
    <link:loc xlink:href="#c59806330" xlink:label="c59806330" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806330" xlink:to="f1523731-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806332" xlink:label="c59806332" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806332" xlink:to="f1523731-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806331" xlink:label="c59806331" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806331" xlink:to="f1523731-1" xlink:type="arc"/>
    <link:footnote xlink:label="f1523731-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Since 2018 Tenaris recognizes its share over the effects on the adoption of IAS 29, "Financial Reporting in Hyperinflationary Economies" by Ternium in other comprehensive income as a currency translation adjustment.</link:footnote>
    <link:loc xlink:href="#c59806839" xlink:label="c59806839" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806839" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806717" xlink:label="c59806717" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806717" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806637" xlink:label="c59806637" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806637" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806758" xlink:label="c59806758" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806758" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806879" xlink:label="c59806879" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806879" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806636" xlink:label="c59806636" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806636" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806713" xlink:label="c59806713" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806713" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806834" xlink:label="c59806834" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806834" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806565" xlink:label="c59806565" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806565" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806686" xlink:label="c59806686" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806686" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806884" xlink:label="c59806884" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806884" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806564" xlink:label="c59806564" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806564" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806641" xlink:label="c59806641" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806641" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806762" xlink:label="c59806762" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806762" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806600" xlink:label="c59806600" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806600" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806560" xlink:label="c59806560" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806560" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806681" xlink:label="c59806681" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806681" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806628" xlink:label="c59806628" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806628" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806628" xlink:to="f1523733-4" xlink:type="arc"/>
    <link:loc xlink:href="#c59806749" xlink:label="c59806749" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806749" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806627" xlink:label="c59806627" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806627" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806627" xlink:to="f1523733-4" xlink:type="arc"/>
    <link:loc xlink:href="#c59806704" xlink:label="c59806704" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806704" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806825" xlink:label="c59806825" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806825" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806902" xlink:label="c59806902" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806902" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806629" xlink:label="c59806629" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806629" xlink:to="f1523733-4" xlink:type="arc"/>
    <link:loc xlink:href="#c59806624" xlink:label="c59806624" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806624" xlink:to="f1523733-4" xlink:type="arc"/>
    <link:loc xlink:href="#c59806789" xlink:label="c59806789" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806789" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806866" xlink:label="c59806866" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806866" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806623" xlink:label="c59806623" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806623" xlink:to="f1523733-4" xlink:type="arc"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806623" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806744" xlink:label="c59806744" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806744" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806821" xlink:label="c59806821" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806821" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806626" xlink:label="c59806626" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806626" xlink:to="f1523733-4" xlink:type="arc"/>
    <link:loc xlink:href="#c59806625" xlink:label="c59806625" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806625" xlink:to="f1523733-4" xlink:type="arc"/>
    <link:loc xlink:href="#c59806708" xlink:label="c59806708" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806708" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806906" xlink:label="c59806906" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806906" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806592" xlink:label="c59806592" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806592" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806591" xlink:label="c59806591" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806591" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806631" xlink:label="c59806631" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806631" xlink:to="f1523733-4" xlink:type="arc"/>
    <link:loc xlink:href="#c59806630" xlink:label="c59806630" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806630" xlink:to="f1523733-4" xlink:type="arc"/>
    <link:loc xlink:href="#c59806556" xlink:label="c59806556" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806556" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806677" xlink:label="c59806677" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806677" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806875" xlink:label="c59806875" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806875" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806555" xlink:label="c59806555" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806555" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806632" xlink:label="c59806632" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806632" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806753" xlink:label="c59806753" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806753" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806830" xlink:label="c59806830" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806830" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806596" xlink:label="c59806596" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806596" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806551" xlink:label="c59806551" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806551" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806870" xlink:label="c59806870" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806870" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806619" xlink:label="c59806619" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806619" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806618" xlink:label="c59806618" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806618" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806857" xlink:label="c59806857" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806857" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806614" xlink:label="c59806614" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806614" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806735" xlink:label="c59806735" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806735" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806587" xlink:label="c59806587" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806587" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806785" xlink:label="c59806785" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806785" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806740" xlink:label="c59806740" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806740" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806861" xlink:label="c59806861" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806861" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806583" xlink:label="c59806583" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806583" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806582" xlink:label="c59806582" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806582" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806780" xlink:label="c59806780" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806780" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806848" xlink:label="c59806848" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806848" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806605" xlink:label="c59806605" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806605" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806726" xlink:label="c59806726" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806726" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806569" xlink:label="c59806569" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806569" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806646" xlink:label="c59806646" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806646" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806767" xlink:label="c59806767" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806767" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806888" xlink:label="c59806888" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806888" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806601" xlink:label="c59806601" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806601" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806645" xlink:label="c59806645" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806645" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806722" xlink:label="c59806722" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806722" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806843" xlink:label="c59806843" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806843" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806609" xlink:label="c59806609" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806609" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806690" xlink:label="c59806690" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806690" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806578" xlink:label="c59806578" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806578" xlink:to="f1523733-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806699" xlink:label="c59806699" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806699" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806776" xlink:label="c59806776" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806776" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806897" xlink:label="c59806897" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806897" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806610" xlink:label="c59806610" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806610" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806731" xlink:label="c59806731" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806731" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806852" xlink:label="c59806852" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806852" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:loc xlink:href="#c59806574" xlink:label="c59806574" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806574" xlink:to="f1523733-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806695" xlink:label="c59806695" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806695" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806893" xlink:label="c59806893" xlink:type="locator"/>
    <link:footnoteArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806893" xlink:to="f1523733-5" xlink:type="arc"/>
    <link:loc xlink:href="#c59806573" xlink:label="c59806573" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806573" xlink:to="f1523733-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806771" xlink:label="c59806771" xlink:type="locator"/>
    <link:footnoteArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806771" xlink:to="f1523733-6" xlink:type="arc"/>
    <link:footnote xlink:label="f1523733-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2019 there were 1,180,536,830 shares issued. All issued shares are fully paid.</link:footnote>
    <link:footnote xlink:label="f1523733-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Other reserves include mainly the result of transactions with non-controlling interests that do not result in a loss of control, the remeasurement of post-employment benefit obligations, the changes in value of cash flow hedges and the changes in financial instruments measured at fair value through other comprehensive income.</link:footnote>
    <link:footnote xlink:label="f1523733-3" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">The restrictions to the distribution of profits and payment of dividends according to Luxembourg Law are disclosed in Note 25.</link:footnote>
    <link:footnote xlink:label="f1523733-4" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Related to Saudi Steel Pipe Company ("SSP") acquisition. See note 27.</link:footnote>
    <link:footnote xlink:label="f1523733-5" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2018 and 2017 there were 1,180,536,830 shares issued. All issued shares are fully paid.</link:footnote>
    <link:footnote xlink:label="f1523733-6" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Other reserves include mainly the result of transactions with non-controlling interests that do not result in a loss of control, the remeasurement of post-employment benefit obligations and the changes in value of cash flow hedges and in available for sale financial instruments.</link:footnote>
    <link:loc xlink:href="#c59808219" xlink:label="c59808219" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808219" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808252" xlink:label="c59808252" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808252" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808154" xlink:label="c59808154" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808154" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808187" xlink:label="c59808187" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808187" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808162" xlink:label="c59808162" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808162" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808195" xlink:label="c59808195" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808195" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808130" xlink:label="c59808130" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808130" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808260" xlink:label="c59808260" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808260" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808170" xlink:label="c59808170" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808170" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808228" xlink:label="c59808228" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808228" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808203" xlink:label="c59808203" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808203" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808236" xlink:label="c59808236" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808236" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808138" xlink:label="c59808138" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808138" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808146" xlink:label="c59808146" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808146" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808179" xlink:label="c59808179" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808179" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808268" xlink:label="c59808268" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808268" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808211" xlink:label="c59808211" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808211" xlink:to="f-53-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808244" xlink:label="c59808244" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808244" xlink:to="f-53-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-53-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">For 2019 and 2018 includes Investments in non-consolidated companies, for 2017 includes Investments in non-consolidated companies and Other equity investments for $21.6 million. See Note 12 and 33.</link:footnote>
    <link:loc xlink:href="#c59809066" xlink:label="c59809066" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809066" xlink:to="f-90-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809067" xlink:label="c59809067" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809067" xlink:to="f-90-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-90-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Related to Ternium and Usiminas. During 2019, $29.0 million were collected.</link:footnote>
    <link:loc xlink:href="#c59809385" xlink:label="c59809385" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809385" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809386" xlink:label="c59809386" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809386" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809350" xlink:label="c59809350" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809350" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809383" xlink:label="c59809383" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809383" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809351" xlink:label="c59809351" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809351" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809384" xlink:label="c59809384" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809384" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809381" xlink:label="c59809381" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809381" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809382" xlink:label="c59809382" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809382" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809349" xlink:label="c59809349" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809349" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809347" xlink:label="c59809347" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809347" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809348" xlink:label="c59809348" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809348" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809345" xlink:label="c59809345" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809345" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809346" xlink:label="c59809346" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809346" xlink:to="f-114-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809387" xlink:label="c59809387" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809387" xlink:to="f-114-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-114-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Includes the effect of hedge accounting.</link:footnote>
    <link:loc xlink:href="#c59810024" xlink:label="c59810024" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810024" xlink:to="f-134-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810025" xlink:label="c59810025" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810025" xlink:to="f-134-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810048" xlink:label="c59810048" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810048" xlink:to="f-134-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59810038" xlink:label="c59810038" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810038" xlink:to="f-134-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59810049" xlink:label="c59810049" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810049" xlink:to="f-134-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59810039" xlink:label="c59810039" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810039" xlink:to="f-134-2" xlink:type="arc"/>
    <link:footnote xlink:label="f-134-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">For 2019 a loss of $1.3 million is attributable to demographic assumptions and a loss of $5.7 million to financial assumptions. For 2018 a gain of $0.2 million is attributable to demographic assumptions and a gain of $3.7 million to financial assumptions.</link:footnote>
    <link:footnote xlink:label="f-134-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">In 2019 and 2018, $4.2 million and $3.3 million corresponding to a plan with a surplus balance were reclassified within other non-current assets, respectively.</link:footnote>
    <link:footnote xlink:label="f-134-3" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">For 2019 a loss of $0.4 million is attributable to demographic assumptions and a loss of $12.4 million to financial assumptions. For 2018 a loss of $0.4 million is attributable to demographic assumptions and a gain of $8.4 million to financial assumptions. respectively.</link:footnote>
    <link:loc xlink:href="#c59810238" xlink:label="c59810238" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810238" xlink:to="f-151-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810239" xlink:label="c59810239" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810239" xlink:to="f-151-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-151-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">In 2018 includes $52 thousand of non-current derivatives.</link:footnote>
    <link:loc xlink:href="#c59810780" xlink:label="c59810780" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810780" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810730" xlink:label="c59810730" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810730" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810731" xlink:label="c59810731" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810731" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810775" xlink:label="c59810775" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810775" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810732" xlink:label="c59810732" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810732" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810776" xlink:label="c59810776" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810776" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810777" xlink:label="c59810777" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810777" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810810" xlink:label="c59810810" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810810" xlink:to="f-177-1" xlink:type="arc"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810810" xlink:to="f-177-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59810811" xlink:label="c59810811" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810811" xlink:to="f-177-1" xlink:type="arc"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810811" xlink:to="f-177-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59810735" xlink:label="c59810735" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810735" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810812" xlink:label="c59810812" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810812" xlink:to="f-177-1" xlink:type="arc"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810812" xlink:to="f-177-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59810736" xlink:label="c59810736" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810736" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810737" xlink:label="c59810737" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810737" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810815" xlink:label="c59810815" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810815" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810760" xlink:label="c59810760" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810760" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810720" xlink:label="c59810720" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810720" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810721" xlink:label="c59810721" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810721" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810765" xlink:label="c59810765" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810765" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810722" xlink:label="c59810722" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810722" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810766" xlink:label="c59810766" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810766" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810767" xlink:label="c59810767" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810767" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810800" xlink:label="c59810800" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810800" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810801" xlink:label="c59810801" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810801" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810725" xlink:label="c59810725" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810725" xlink:to="f-177-1" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810725" xlink:to="f-177-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59810802" xlink:label="c59810802" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810802" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810726" xlink:label="c59810726" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810726" xlink:to="f-177-1" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810726" xlink:to="f-177-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59810727" xlink:label="c59810727" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810727" xlink:to="f-177-1" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810727" xlink:to="f-177-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59810805" xlink:label="c59810805" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810805" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810806" xlink:label="c59810806" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810806" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810807" xlink:label="c59810807" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810807" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810792" xlink:label="c59810792" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810792" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810750" xlink:label="c59810750" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810750" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810751" xlink:label="c59810751" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810751" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810795" xlink:label="c59810795" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810795" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810752" xlink:label="c59810752" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810752" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810796" xlink:label="c59810796" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810796" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810797" xlink:label="c59810797" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810797" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810830" xlink:label="c59810830" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810830" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810710" xlink:label="c59810710" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810710" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810831" xlink:label="c59810831" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810831" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810711" xlink:label="c59810711" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810711" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810755" xlink:label="c59810755" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810755" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810832" xlink:label="c59810832" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810832" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810712" xlink:label="c59810712" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810712" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810756" xlink:label="c59810756" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810756" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810757" xlink:label="c59810757" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810757" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810835" xlink:label="c59810835" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810835" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810715" xlink:label="c59810715" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810715" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810836" xlink:label="c59810836" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810836" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810716" xlink:label="c59810716" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810716" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810837" xlink:label="c59810837" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810837" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810717" xlink:label="c59810717" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810717" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810790" xlink:label="c59810790" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810790" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810791" xlink:label="c59810791" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810791" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810781" xlink:label="c59810781" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810781" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810782" xlink:label="c59810782" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810782" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810740" xlink:label="c59810740" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810740" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810741" xlink:label="c59810741" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810741" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810785" xlink:label="c59810785" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810785" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810742" xlink:label="c59810742" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810742" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810786" xlink:label="c59810786" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810786" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810787" xlink:label="c59810787" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810787" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810820" xlink:label="c59810820" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810820" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810821" xlink:label="c59810821" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810821" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810745" xlink:label="c59810745" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810745" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810822" xlink:label="c59810822" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810822" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810746" xlink:label="c59810746" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810746" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810747" xlink:label="c59810747" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810747" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810825" xlink:label="c59810825" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810825" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810826" xlink:label="c59810826" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810826" xlink:to="f-177-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59810827" xlink:label="c59810827" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59810827" xlink:to="f-177-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-177-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">All percentages rounded.</link:footnote>
    <link:footnote xlink:label="f-177-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Tenaris Investments S.a.r.l. holds 100% of Hydril's subsidiaries shares except for Technical Drilling &amp; Production Services Nigeria. Ltd where it holds 80%.</link:footnote>
    <link:footnote xlink:label="f-177-3" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Tenaris holds 97,5% of Tenaris Supply Chain S.A. and 40% of Tubular Technical Services Ltd. and Pipe Coaters Nigeria Ltd., 49% of Amaja Tubular Services Limited, 49% Tubular Services Angola Lda.</link:footnote>
    <link:loc xlink:href="#c59809077" xlink:label="c59809077" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809077" xlink:to="f-92-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809078" xlink:label="c59809078" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809078" xlink:to="f-92-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809075" xlink:label="c59809075" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809075" xlink:to="f-92-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809076" xlink:label="c59809076" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809076" xlink:to="f-92-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59809082" xlink:label="c59809082" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809082" xlink:to="f-92-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59809083" xlink:label="c59809083" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809083" xlink:to="f-92-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59809080" xlink:label="c59809080" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809080" xlink:to="f-92-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59809081" xlink:label="c59809081" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59809081" xlink:to="f-92-2" xlink:type="arc"/>
    <link:footnote xlink:label="f-92-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Including treasury shares.</link:footnote>
    <link:footnote xlink:label="f-92-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">At December 31, 2019 and 2018 the voting rights were 5.2%.</link:footnote>
    <link:loc xlink:href="#c59807574" xlink:label="c59807574" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807574" xlink:to="f-44-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807575" xlink:label="c59807575" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807575" xlink:to="f-44-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59807573" xlink:label="c59807573" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59807573" xlink:to="f-44-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-44-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Out of the $768 million fixed rate borrowings, $728 million are short-term.</link:footnote>
    <link:loc xlink:href="#c59808494" xlink:label="c59808494" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808494" xlink:to="f-68-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59808495" xlink:label="c59808495" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808495" xlink:to="f-68-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59806240" xlink:label="c59806240" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806240" xlink:to="f-68-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59806242" xlink:label="c59806242" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806242" xlink:to="f-68-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808498" xlink:label="c59808498" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808498" xlink:to="f-68-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59806241" xlink:label="c59806241" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59806241" xlink:to="f-68-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808499" xlink:label="c59808499" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808499" xlink:to="f-68-3" xlink:type="arc"/>
    <link:loc xlink:href="#c59808496" xlink:label="c59808496" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808496" xlink:to="f-68-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59808497" xlink:label="c59808497" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808497" xlink:to="f-68-3" xlink:type="arc"/>
    <link:footnote xlink:label="f-68-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">In 2019 and 2018 includes $7.6 and $3.6 million of interest related to instruments carried at FVPL, respectively.</link:footnote>
    <link:footnote xlink:label="f-68-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">In 2019 mainly includes the result from the Argentine peso depreciation against the U.S. dollar on Peso denominated financial, trade, social and fiscal payables and receivables at Argentine subsidiaries with functional currency U.S. dollar.  In 2018 mainly includes the result from the Argentine peso depreciation against the U.S. dollar on Peso denominated financial, trade, social and fiscal payables and receivables at Argentine subsidiaries with functional currency U.S. dollar, together with the positive impact from Euro depreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. Dollar, largely offset by an increase in currency translation adjustment reserve from our Italian subsidiary.  In 2017 mainly includes the negative impact from Euro appreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. Dollar, largely offset by an increase in currency translation adjustment reserve from our Italian subsidiary.</link:footnote>
    <link:footnote xlink:label="f-68-3" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">In 2019 includes mainly losses on derivatives covering net payables in Argentine peso and in Euros and net receivables in Canadian dollar.  In 2018 includes mainly gain on derivatives covering net receivables in Canadian dollar.  In 2017 includes mainly losses on derivatives covering net receivables in Brazilian real and Canadian dollar and net payables in Argentine peso, partially offset by gains on derivatives covering net payables in Euro.</link:footnote>
    <link:loc xlink:href="#c59808614" xlink:label="c59808614" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808614" xlink:to="f-77-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808615" xlink:label="c59808615" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808615" xlink:to="f-77-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808612" xlink:label="c59808612" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808612" xlink:to="f-77-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808613" xlink:label="c59808613" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808613" xlink:to="f-77-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808610" xlink:label="c59808610" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808610" xlink:to="f-77-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808611" xlink:label="c59808611" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808611" xlink:to="f-77-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-77-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Related to SSP acquisition. See Note 27.</link:footnote>
    <link:loc xlink:href="#c59808816" xlink:label="c59808816" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808816" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808837" xlink:label="c59808837" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808837" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808779" xlink:label="c59808779" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808779" xlink:to="f-80-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59808878" xlink:label="c59808878" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808878" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808857" xlink:label="c59808857" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808857" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808780" xlink:label="c59808780" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808780" xlink:to="f-80-1" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808780" xlink:to="f-80-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59808781" xlink:label="c59808781" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808781" xlink:to="f-80-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59808821" xlink:label="c59808821" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808821" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808800" xlink:label="c59808800" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808800" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808842" xlink:label="c59808842" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808842" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808883" xlink:label="c59808883" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808883" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808785" xlink:label="c59808785" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808785" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808782" xlink:label="c59808782" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808782" xlink:to="f-80-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59808783" xlink:label="c59808783" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808783" xlink:to="f-80-2" xlink:type="arc"/>
    <link:loc xlink:href="#c59808806" xlink:label="c59808806" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808806" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808847" xlink:label="c59808847" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808847" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808826" xlink:label="c59808826" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808826" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808868" xlink:label="c59808868" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808868" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808770" xlink:label="c59808770" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808770" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808790" xlink:label="c59808790" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808790" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808811" xlink:label="c59808811" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808811" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808775" xlink:label="c59808775" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808775" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808852" xlink:label="c59808852" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808852" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808831" xlink:label="c59808831" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808831" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808795" xlink:label="c59808795" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808795" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808873" xlink:label="c59808873" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808873" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c59808893" xlink:label="c59808893" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c59808893" xlink:to="f-80-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-80-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Includes Proprietary Technology.</link:footnote>
    <link:footnote xlink:label="f-80-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Related to SSP acquisition.</link:footnote>
  </link:footnoteLink>
  <xbrli:unit id="xbrli-shares">
    <xbrli:measure>xbrli:shares</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="xbrli-pure">
    <xbrli:measure>xbrli:pure</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="iso4217-brl-per-xbrli-shares">
    <xbrli:divide>
      <xbrli:unitNumerator>
        <xbrli:measure>iso4217:BRL</xbrli:measure>
      </xbrli:unitNumerator>
      <xbrli:unitDenominator>
        <xbrli:measure>xbrli:shares</xbrli:measure>
      </xbrli:unitDenominator>
    </xbrli:divide>
  </xbrli:unit>
  <xbrli:unit id="iso4217-usd">
    <xbrli:measure>iso4217:USD</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="iso4217-sar">
    <xbrli:measure>iso4217:SAR</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="iso4217-usd-per-xbrli-shares">
    <xbrli:divide>
      <xbrli:unitNumerator>
        <xbrli:measure>iso4217:USD</xbrli:measure>
      </xbrli:unitNumerator>
      <xbrli:unitDenominator>
        <xbrli:measure>xbrli:shares</xbrli:measure>
      </xbrli:unitDenominator>
    </xbrli:divide>
  </xbrli:unit>
  <xbrli:unit id="iso4217-eur">
    <xbrli:measure>iso4217:EUR</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="utr-t">
    <xbrli:measure>utr:t</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="iso4217-brl">
    <xbrli:measure>iso4217:BRL</xbrli:measure>
  </xbrli:unit>
  <xbrli:context id="d_2012-01-16_2012-01-16_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2012-01-16</xbrli:startDate>
      <xbrli:endDate>2012-01-16</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2013-09-01_2013-09-01_CounterpartiesAxis-CompanhiaSiderrgicaNacionalMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:CompanhiaSiderrgicaNacionalMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2013-09-01</xbrli:startDate>
      <xbrli:endDate>2013-09-01</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2016-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TechgenSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2016-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2016-01-29_2016-01-29_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-MatesiMaterialesSiderrgicosSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">country:VE</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:MatesiMaterialesSiderrgicosSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2016-01-29</xbrli:startDate>
      <xbrli:endDate>2016-01-29</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2016-11-23_2016-11-23">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2016-11-23</xbrli:startDate>
      <xbrli:endDate>2016-11-23</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2016-12-12_2016-12-12_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-TavsaAndComsiguaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">country:VE</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TavsaAndComsiguaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2016-12-12</xbrli:startDate>
      <xbrli:endDate>2016-12-12</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2016-12-15_2016-12-15">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2016-12-15</xbrli:startDate>
      <xbrli:endDate>2016-12-15</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:AssociatesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-KeyManagementPersonnelOfEntityOrParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:KeyManagementPersonnelOfEntityOrParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:OtherRelatedPartiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:CurrencyTranslationAdjustmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:EquityAttributableToOwnersOfParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:LegalReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:NoncontrollingInterestsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:OtherReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-ContinuingOperations1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ts:ContinuingOperations1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DiscontinuedOperationsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DiscontinuedOperationsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:ReportableSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AR">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SiatSociedadAnonimaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:SiatSociedadAnonimaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SidercaSaicAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:SidercaSaicAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-AsiaPacific1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:AsiaPacific1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-AlgomaTubesIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:AlgomaTubesIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-PrudentialSteelLtdMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:PrudentialSteelLtdMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesCanadaIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesCanadaIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-CH_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CH</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-Colombia1Member_SignificantInvestmentsInSubsidiariesAxis-TenarisTubocaribeLtdaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Colombia1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisTubocaribeLtdaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-Europe1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Europe1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-GB_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUkLtdMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:GB</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesUkLtdMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-ID_SignificantInvestmentsInSubsidiariesAxis-PtSeamlessPipeIndonesiaJayaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:ID</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:PtSeamlessPipeIndonesiaJayaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:DalmineSPAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-JP_SignificantInvestmentsInSubsidiariesAxis-NkktubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:JP</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:NkktubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-KZ_SignificantInvestmentsInSubsidiariesAxis-KazakhstanPipeThreadersLimitedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:KZ</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:KazakhstanPipeThreadersLimitedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSrlMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:LU</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisInvestmentsSrlMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-MX_SignificantInvestmentsInSubsidiariesAxis-TubosDeAceroDeMexicoSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:MX</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TubosDeAceroDeMexicoSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:MiddleEastAndAfricaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-NL_SignificantInvestmentsInSubsidiariesAxis-TenarisConnectionsBvMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:NL</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisConnectionsBvMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-NorthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:NorthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-PT_SignificantInvestmentsInSubsidiariesAxis-TaltatradingEMarketingSociedadeUnipessoalLdaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:PT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TaltatradingEMarketingSociedadeUnipessoalLdaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-RO_SignificantInvestmentsInSubsidiariesAxis-ScSilcotubSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:RO</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ScSilcotubSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-SouthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:SouthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-HydrilCompanyAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:HydrilCompanyAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-MaverickTubeCorporationAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:MaverickTubeCorporationAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisBayCityIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisBayCityIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUsaCorporationMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesUsaCorporationMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisFinancialServicesSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:UY</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisFinancialServicesSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:UY</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_GeographicalAreasAxis-UnallocatedRegionMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:UnallocatedRegionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_LegalEntityAxis-TenarisMember_TypesOfCustomersAxis-GovernmentCustomersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:TenarisMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfCustomersAxis">ifrs-full:GovernmentCustomersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ProductsAndServicesAxis-HydrocarbonProcessingAndPowerGenerationMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ProductsAndServicesAxis">ts:HydrocarbonProcessingAndPowerGenerationMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ProductsAndServicesAxis-IndustrialAndOtherMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ProductsAndServicesAxis">ts:IndustrialAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_ProductsAndServicesAxis-OilAndGasMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ProductsAndServicesAxis">ts:OilAndGasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_SegmentConsolidationItemsAxis-EliminationOfIntersegmentAmountsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentConsolidationItemsAxis">ifrs-full:EliminationOfIntersegmentAmountsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_SegmentsAxis-ReportableSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:ReportableSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-01_2017-12-31_TypesOfRisksAxis-CustomerConcentrationRisk1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:CustomerConcentrationRisk1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-01-20_2017-01-20">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-01-20</xbrli:startDate>
      <xbrli:endDate>2017-01-20</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-05-24_2017-05-24">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-05-24</xbrli:startDate>
      <xbrli:endDate>2017-05-24</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2017-11-22_2017-11-22">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2017-11-22</xbrli:startDate>
      <xbrli:endDate>2017-11-22</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:AssociatesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-KeyManagementPersonnelOfEntityOrParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:KeyManagementPersonnelOfEntityOrParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:OtherRelatedPartiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsProvisionsAndAllowancesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsTaxLossMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsTrademarksAndProprietaryTechnologyMember_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsTrademarksAndProprietaryTechnologyMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTabLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesFixedAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForDoubtfulAccountsTradeReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForInventoryObsolescenceMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForOtherDoubtfulAccountsOtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ifrs-full:MiscellaneousOtherProvisionsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:NoncurrentAllowanceForReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionForNoncurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionsForCurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ClassesOfProvisionsAxis-SalesRisksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:SalesRisksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:CurrencyTranslationAdjustmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:EquityAttributableToOwnersOfParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:LegalReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:NoncontrollingInterestsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:OtherReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DiscontinuedOperationsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DiscontinuedOperationsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:ReportableSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FairValueOfFundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SiatSociedadAnonimaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:SiatSociedadAnonimaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SidercaSaicAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:SidercaSaicAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-AsiaPacific1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:AsiaPacific1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-AlgomaTubesIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:AlgomaTubesIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-PrudentialSteelLtdMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:PrudentialSteelLtdMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesCanadaIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesCanadaIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-CH_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CH</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-Colombia1Member_SignificantInvestmentsInSubsidiariesAxis-TenarisTubocaribeLtdaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Colombia1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisTubocaribeLtdaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-Europe1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Europe1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-GB_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUkLtdMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:GB</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesUkLtdMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-ID_SignificantInvestmentsInSubsidiariesAxis-PtSeamlessPipeIndonesiaJayaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:ID</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:PtSeamlessPipeIndonesiaJayaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:DalmineSPAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-JP_SignificantInvestmentsInSubsidiariesAxis-NkktubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:JP</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:NkktubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-KZ_SignificantInvestmentsInSubsidiariesAxis-KazakhstanPipeThreadersLimitedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:KZ</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:KazakhstanPipeThreadersLimitedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInAssociatesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:LU</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSrlMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:LU</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisInvestmentsSrlMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-MX_SignificantInvestmentsInSubsidiariesAxis-TubosDeAceroDeMexicoSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:MX</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TubosDeAceroDeMexicoSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:MiddleEastAndAfricaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-NL_SignificantInvestmentsInSubsidiariesAxis-TenarisConnectionsBvMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:NL</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisConnectionsBvMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-NorthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:NorthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-PT_SignificantInvestmentsInSubsidiariesAxis-TaltatradingEMarketingSociedadeUnipessoalLdaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:PT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TaltatradingEMarketingSociedadeUnipessoalLdaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-RO_SignificantInvestmentsInSubsidiariesAxis-ScSilcotubSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:RO</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ScSilcotubSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-SouthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:SouthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-HydrilCompanyAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:HydrilCompanyAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-MaverickTubeCorporationAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:MaverickTubeCorporationAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisBayCityIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisBayCityIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUsaCorporationMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesUsaCorporationMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisFinancialServicesSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:UY</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisFinancialServicesSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:UY</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_GeographicalAreasAxis-UnallocatedRegionMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:UnallocatedRegionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeDerivativesContractsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_LegalEntityAxis-TenarisMember_TypesOfCustomersAxis-GovernmentCustomersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:TenarisMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfCustomersAxis">ifrs-full:GovernmentCustomersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ProductsAndServicesAxis-HydrocarbonProcessingAndPowerGenerationMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ProductsAndServicesAxis">ts:HydrocarbonProcessingAndPowerGenerationMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ProductsAndServicesAxis-IndustrialAndOtherMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ProductsAndServicesAxis">ts:IndustrialAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_ProductsAndServicesAxis-OilAndGasMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ProductsAndServicesAxis">ts:OilAndGasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_SegmentConsolidationItemsAxis-EliminationOfIntersegmentAmountsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentConsolidationItemsAxis">ifrs-full:EliminationOfIntersegmentAmountsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_SegmentsAxis-ReportableSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:ReportableSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_TypesOfRisksAxis-CounterpartyRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:CounterpartyRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-01-01_2018-12-31_TypesOfRisksAxis-CustomerConcentrationRisk1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:CustomerConcentrationRisk1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-01-01</xbrli:startDate>
      <xbrli:endDate>2018-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-05-23_2018-05-23">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-05-23</xbrli:startDate>
      <xbrli:endDate>2018-05-23</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-10-09_2018-10-09_CounterpartyNameAxis-ChubbMember_LegalEntityAxis-ConfabMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">ts:ChubbMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:ConfabMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-10-09</xbrli:startDate>
      <xbrli:endDate>2018-10-09</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2018-11-21_2018-11-21">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-11-21</xbrli:startDate>
      <xbrli:endDate>2018-11-21</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-AcquisitionOfIPSCOMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:AcquisitionOfIPSCOMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:HydrillAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:SaudiSteelPipeCompanyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:SaudiSteelPipeCompanyMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:AssociatesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-KeyManagementPersonnelOfEntityOrParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:KeyManagementPersonnelOfEntityOrParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:OtherRelatedPartiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-SanFaustinSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ts:SanFaustinSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CategoriesOfRelatedPartiesAxis-TecpetrolInternationalSAMember_SignificantInvestmentsInAssociatesAxis-TechgenSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ts:TecpetrolInternationalSAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TechgenSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsProvisionsAndAllowancesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsTaxLossMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTabLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesFixedAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsAndImprovementsMember_RangeAxis-BottomOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:BuildingsAndImprovementsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsAndImprovementsMember_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:BuildingsAndImprovementsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-PlantAndProductionEquipmentMember_RangeAxis-BottomOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:PlantAndProductionEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-PlantAndProductionEquipmentMember_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:PlantAndProductionEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesAndOtherEquipmentMember_RangeAxis-BottomOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesAndOtherEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesAndOtherEquipmentMember_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesAndOtherEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForDoubtfulAccountsTradeReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForInventoryObsolescenceMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForOtherDoubtfulAccountsOtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ifrs-full:MiscellaneousOtherProvisionsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:NoncurrentAllowanceForReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionForNoncurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionsForCurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ClassesOfProvisionsAxis-SalesRisksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:SalesRisksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:CurrencyTranslationAdjustmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:EquityAttributableToOwnersOfParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:LegalReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:NoncontrollingInterestsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:OtherReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DiscontinuedOperationsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember_SegmentsAxis-ReportableSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DiscontinuedOperationsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:ReportableSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CounterpartiesAxis-JfeMember_SignificantInvestmentsInSubsidiariesAxis-NkktubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:JfeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:NkktubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CounterpartiesAxis-PraxairSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:PraxairSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CounterpartiesAxis-TransportadoraDeGasDelNorteSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:TransportadoraDeGasDelNorteSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-MatesiMaterialesSiderrgicosSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">country:VE</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:MatesiMaterialesSiderrgicosSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FairValueOfFundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SiatSociedadAnonimaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:SiatSociedadAnonimaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-AR_SignificantInvestmentsInSubsidiariesAxis-SidercaSaicAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:SidercaSaicAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-Argentina1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Argentina1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-AsiaPacific1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:AsiaPacific1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-AlgomaTubesIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:AlgomaTubesIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-PrudentialSteelLtdMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:PrudentialSteelLtdMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-CA_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesCanadaIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesCanadaIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-CH_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CH</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-Colombia1Member_SignificantInvestmentsInSubsidiariesAxis-TenarisTubocaribeLtdaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Colombia1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisTubocaribeLtdaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-Europe1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Europe1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-GB_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUkLtdMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:GB</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesUkLtdMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-ID_SignificantInvestmentsInSubsidiariesAxis-PtSeamlessPipeIndonesiaJayaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:ID</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:PtSeamlessPipeIndonesiaJayaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:DalmineSPAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-JP_SignificantInvestmentsInSubsidiariesAxis-NkktubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:JP</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:NkktubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-KZ_SignificantInvestmentsInSubsidiariesAxis-KazakhstanPipeThreadersLimitedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:KZ</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:KazakhstanPipeThreadersLimitedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-LU">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:LU</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInAssociatesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:LU</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsSrlMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:LU</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisInvestmentsSrlMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-MX_SignificantInvestmentsInSubsidiariesAxis-TubosDeAceroDeMexicoSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:MX</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TubosDeAceroDeMexicoSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:MiddleEastAndAfricaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-NL_SignificantInvestmentsInSubsidiariesAxis-TenarisConnectionsBvMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:NL</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisConnectionsBvMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-NL_SignificantInvestmentsInSubsidiariesAxis-TenarisInvestmentsNLBVMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:NL</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisInvestmentsNLBVMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-NorthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:NorthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-PT_SignificantInvestmentsInSubsidiariesAxis-TaltatradingEMarketingSociedadeUnipessoalLdaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:PT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TaltatradingEMarketingSociedadeUnipessoalLdaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-RO_SignificantInvestmentsInSubsidiariesAxis-ScSilcotubSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:RO</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ScSilcotubSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-SA_SignificantInvestmentsInSubsidiariesAxis-SaudiSteelPipeCompanyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:SA</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:SaudiSteelPipeCompanyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-SouthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:SouthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-HydrilCompanyAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:HydrilCompanyAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-MaverickTubeCorporationAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:MaverickTubeCorporationAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisBayCityIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisBayCityIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-US_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesUsaCorporationMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesUsaCorporationMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisFinancialServicesSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:UY</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisFinancialServicesSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-UY_SignificantInvestmentsInSubsidiariesAxis-TenarisGlobalServicesSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:UY</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisGlobalServicesSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_GeographicalAreasAxis-UnallocatedRegionMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:UnallocatedRegionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeDerivativesContractsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_JointVenturesAxis-TechgenSAMember_LegalEntityAxis-TecpetrolInternationalSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:JointVenturesAxis">ts:TechgenSAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:TecpetrolInternationalSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_JointVenturesAxis-TechgenSAMember_LegalEntityAxis-TenarisMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:JointVenturesAxis">ts:TechgenSAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:TenarisMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_JointVenturesAxis-TechgenSAMember_LegalEntityAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:JointVenturesAxis">ts:TechgenSAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_JointVenturesAxis-WeldedPipePlantInWestSiberiaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:JointVenturesAxis">ts:WeldedPipePlantInWestSiberiaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_LegalEntityAxis-TenarisMember_TypesOfCustomersAxis-GovernmentCustomersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:TenarisMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfCustomersAxis">ifrs-full:GovernmentCustomersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ProductsAndServicesAxis-HydrocarbonProcessingAndPowerGenerationMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ProductsAndServicesAxis">ts:HydrocarbonProcessingAndPowerGenerationMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ProductsAndServicesAxis-IndustrialAndOtherMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ProductsAndServicesAxis">ts:IndustrialAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_ProductsAndServicesAxis-OilAndGasMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ProductsAndServicesAxis">ts:OilAndGasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SegmentConsolidationItemsAxis-EliminationOfIntersegmentAmountsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentConsolidationItemsAxis">ifrs-full:EliminationOfIntersegmentAmountsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SegmentsAxis-ReportableSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:ReportableSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TechgenSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember_SignificantInvestmentsInSubsidiariesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TechgenSAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumAndUsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumAndUsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-AmajaTubularServicesLimitedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:AmajaTubularServicesLimitedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-HydrilCompanyAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:HydrilCompanyAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TechnicalDrillingProductionServicesNigeriaLtdMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TechnicalDrillingProductionServicesNigeriaLtdMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TenarisSupplyChainSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TenarisSupplyChainSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TubularServicesAngolaLdaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TubularServicesAngolaLdaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_SignificantInvestmentsInSubsidiariesAxis-TubularTechnicalServicesAndPipeCoatersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TubularTechnicalServicesAndPipeCoatersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_TypesOfRisksAxis-CounterpartyRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:CounterpartyRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2019-12-31_TypesOfRisksAxis-CustomerConcentrationRisk1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:CustomerConcentrationRisk1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-01_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:AcquisitionOfIPSCOMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:NonadjustingEventsAfterReportingPeriodAxis">ifrs-full:MajorBusinessCombinationMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2020-01-02</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-01-21_2019-12-31_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:SaudiSteelPipeCompanyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-21</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-02-05_2019-02-05_JointVenturesAxis-WeldedPipePlantInWestSiberiaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:JointVenturesAxis">ts:WeldedPipePlantInWestSiberiaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-02-05</xbrli:startDate>
      <xbrli:endDate>2019-02-05</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-02-05_2019-02-05_JointVenturesAxis-WeldedPipePlantInWestSiberiaMember_LegalEntityAxis-PAOPSeverstalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:JointVenturesAxis">ts:WeldedPipePlantInWestSiberiaMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:PAOPSeverstalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-02-05</xbrli:startDate>
      <xbrli:endDate>2019-02-05</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-05-22_2019-05-22">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-05-22</xbrli:startDate>
      <xbrli:endDate>2019-05-22</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-10-30_2019-10-30">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-10-30</xbrli:startDate>
      <xbrli:endDate>2019-10-30</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2019-11-20_2019-11-20">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-11-20</xbrli:startDate>
      <xbrli:endDate>2019-11-20</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2020-01-02_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:AcquisitionOfIPSCOMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:NonadjustingEventsAfterReportingPeriodAxis">ifrs-full:MajorBusinessCombinationMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-01-02</xbrli:startDate>
      <xbrli:endDate>2020-01-02</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2020-02-19_2020-02-19_NonadjustingEventsAfterReportingPeriodAxis-GlobalPandemicMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:NonadjustingEventsAfterReportingPeriodAxis">ts:GlobalPandemicMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-02-19</xbrli:startDate>
      <xbrli:endDate>2020-02-19</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="d_2020-03-31_2020-03-31_NonadjustingEventsAfterReportingPeriodAxis-ImpairmentOfAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:NonadjustingEventsAfterReportingPeriodAxis">ts:ImpairmentOfAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-31</xbrli:startDate>
      <xbrli:endDate>2020-03-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2013-09-01_ClassesOfContingentLiabilitiesAxis-LegalProceedingsContingentLiabilityMember_CounterpartiesAxis-CompanhiaSiderrgicaNacionalMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfContingentLiabilitiesAxis">ifrs-full:LegalProceedingsContingentLiabilityMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:CompanhiaSiderrgicaNacionalMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2013-09-01</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2013-09-01_CounterpartiesAxis-CompanhiaSiderrgicaNacionalMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:CompanhiaSiderrgicaNacionalMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2013-09-01</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-01-29_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-MatesiMaterialesSiderrgicosSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">country:VE</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:MatesiMaterialesSiderrgicosSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-01-29</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-04-30_ClassesOfShareCapitalAxis-PreferenceSharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:PreferenceSharesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-04-30</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-05-31_ClassesOfShareCapitalAxis-OrdinarySharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-12_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-TavsaAndComsiguaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">country:VE</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TavsaAndComsiguaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-12</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-31">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:CurrencyTranslationAdjustmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:EquityAttributableToOwnersOfParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-31_ComponentsOfEquityAxis-IssuedCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-31_ComponentsOfEquityAxis-LegalReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:LegalReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:NoncontrollingInterestsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-31_ComponentsOfEquityAxis-OtherReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:OtherReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-31_ComponentsOfEquityAxis-RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2016-12-31_ComponentsOfEquityAxis-SharePremiumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2016-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-01-01">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-01-01</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-01-19_ContinuingAndDiscontinuedOperationsAxis-DisposalGroupsClassifiedAsHeldForSaleMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DisposalGroupsClassifiedAsHeldForSaleMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-01-19</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-05-03">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-05-03</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-09-30_BusinessCombinationsAxis-GarrettMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:GarrettMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-09-30</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsProvisionsAndAllowancesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsTaxLossMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-TrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:TrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTabLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesFixedAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForDoubtfulAccountsTradeReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForInventoryObsolescenceMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForOtherDoubtfulAccountsOtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ifrs-full:MiscellaneousOtherProvisionsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:NoncurrentAllowanceForReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionForNoncurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionsForCurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ClassesOfProvisionsAxis-SalesRisksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:SalesRisksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:CurrencyTranslationAdjustmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:EquityAttributableToOwnersOfParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ComponentsOfEquityAxis-LegalReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:LegalReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:NoncontrollingInterestsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ComponentsOfEquityAxis-OtherReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:OtherReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ComponentsOfEquityAxis-SharePremiumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DiscontinuedOperationsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FairValueOfFundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-AR">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-AsiaPacific1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:AsiaPacific1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-BR">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-CA">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-CO">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CO</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-Europe1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Europe1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-ID">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:ID</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-IT">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-JP">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:JP</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-MX">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:MX</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:MiddleEastAndAfricaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-NorthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:NorthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-OtherGeographicalAreasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:OtherGeographicalAreasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-RO">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:RO</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-SouthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:SouthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-US">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_GeographicalAreasAxis-UnallocatedRegionMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:UnallocatedRegionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeDerivativesContractsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2017-12-31_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-01-01">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-01-01</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-04-10_LegalEntityAxis-ConfabMember_TypesOfContractsAxis-TheNewSHAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:ConfabMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfContractsAxis">ts:TheNewSHAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-04-10</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-04-10_LegalEntityAxis-NSSMCMember_TypesOfContractsAxis-TheNewSHAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:NSSMCMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfContractsAxis">ts:TheNewSHAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-04-10</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-04-10_LegalEntityAxis-PrevidenciaUsiminasMember_TypesOfContractsAxis-TheNewSHAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:PrevidenciaUsiminasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfContractsAxis">ts:TheNewSHAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-04-10</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-04-10_LegalEntityAxis-TTGroupMember_TypesOfContractsAxis-TheNewSHAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:TTGroupMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfContractsAxis">ts:TheNewSHAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-04-10</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-04-10_LegalEntityAxis-TerniumEntititesMember_TypesOfContractsAxis-TheNewSHAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:TerniumEntititesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfContractsAxis">ts:TheNewSHAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-04-10</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-04-10_LegalEntityAxis-UsiminasMember_TypesOfContractsAxis-TheNewSHAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:UsiminasMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfContractsAxis">ts:TheNewSHAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-04-10</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-05-02">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-05-02</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-10-10_CounterpartyNameAxis-ChubbMember_LegalEntityAxis-ConfabMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">ts:ChubbMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:ConfabMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-10-10</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-BankBorrowingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:BankBorrowingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-BankOverdrafts1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:BankOverdrafts1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:FinanceLeaseLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:FinanceLeaseLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:FinanceLeaseLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:FinanceLeaseLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:FinanceLeaseLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:FinanceLeaseLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember_MaturityAxis-NotLaterThanOneYearMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:FinanceLeaseLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-NotLaterThanOneYearMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-DerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-StructuredNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:StructuredNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-DerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-StructuredNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:StructuredNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-DerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-StructuredNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:StructuredNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:AssociatesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:OtherRelatedPartiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:CurrentTradeReceivablesNotDueMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:CurrentTradeReceivablesPastDueGreaterThan180DaysMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:CurrentTradeReceivablesPastDueLessThan180DaysMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsProvisionsAndAllowancesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsTaxLossMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-DerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-StructuredNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:StructuredNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-StructuredNotesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:StructuredNotesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-StructuredNotesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:StructuredNotesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-StructuredNotesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:StructuredNotesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialInstrumentsAxis-FinancialGuaranteeContractsMember_PastDueStatusAxis-PastDueMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialInstrumentsAxis">ifrs-full:FinancialGuaranteeContractsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:PastDueStatusAxis">ts:PastDueMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialInstrumentsAxis-GuaranteesUnderCreditInsuranceMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialInstrumentsAxis">ts:GuaranteesUnderCreditInsuranceMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialInstrumentsAxis-LetterOfCreditAndOtherBankGuaranteesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialInstrumentsAxis">ts:LetterOfCreditAndOtherBankGuaranteesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfFinancialInstrumentsAxis-OtherGuaranteesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialInstrumentsAxis">ts:OtherGuaranteesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-TrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:TrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTabLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesFixedAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForDoubtfulAccountsTradeReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForInventoryObsolescenceMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForOtherDoubtfulAccountsOtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ifrs-full:MiscellaneousOtherProvisionsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:NoncurrentAllowanceForReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionForNoncurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionsForCurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ClassesOfProvisionsAxis-SalesRisksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:SalesRisksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:CurrencyTranslationAdjustmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:CurrencyTranslationAdjustmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis">ifrs-full:PreviouslyStatedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:EquityAttributableToOwnersOfParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:EquityAttributableToOwnersOfParentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis">ifrs-full:PreviouslyStatedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-IssuedCapitalMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis">ifrs-full:PreviouslyStatedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:LegalReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-LegalReservesMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:LegalReservesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis">ifrs-full:PreviouslyStatedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:NoncontrollingInterestsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:NoncontrollingInterestsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis">ifrs-full:PreviouslyStatedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:OtherReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-OtherReservesMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:OtherReservesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis">ifrs-full:PreviouslyStatedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-RetainedEarningsMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis">ifrs-full:PreviouslyStatedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ComponentsOfEquityAxis-SharePremiumMember_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis">ifrs-full:PreviouslyStatedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DiscontinuedOperationsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-ARS_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:ARS</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:EUR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:EUR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-MXN_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:MXN</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-OtherCurrencyMember_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">ts:OtherCurrencyMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-OtherCurrencyMember_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">ts:OtherCurrencyMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:SAR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:SAR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-US">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">country:US</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:USD</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:USD</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FairValueOfFundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-DerivativesHedgingBorrowingsAndInvestmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis">ts:DerivativesHedgingBorrowingsAndInvestmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-OtherDerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis">ts:OtherDerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-AR">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-AsiaPacific1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:AsiaPacific1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-BR">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-CA">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-CO">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CO</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-Europe1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Europe1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-ID">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:ID</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-IT">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-JP">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:JP</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInAssociatesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:LU</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-MX">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:MX</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:MiddleEastAndAfricaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-NorthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:NorthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-OtherGeographicalAreasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:OtherGeographicalAreasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-RO">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:RO</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-SouthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:SouthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-US">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_GeographicalAreasAxis-UnallocatedRegionMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:UnallocatedRegionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractOtherMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeDerivativesContractsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfRisksAxis-OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeDerivativesContractsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_MaturityAxis-LaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_MaturityAxis-LaterThanOneYearMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_MaturityAxis-NotLaterThanOneYearMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_PastDueStatusAxis-PastDueMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:PastDueStatusAxis">ts:PastDueMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_RangeAxis-WeightedAverageMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:WeightedAverageMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_RetrospectiveApplicationAndRetrospectiveRestatementAxis-PreviouslyStatedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis">ifrs-full:PreviouslyStatedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-OtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:OtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_TypesOfRisksAxis-ArgentinePesoUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:ArgentinePesoUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_TypesOfRisksAxis-EuroUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:EuroUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_TypesOfRisksAxis-OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_TypesOfRisksAxis-OnePercentChangeEuroUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:OnePercentChangeEuroUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_TypesOfRisksAxis-OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2018-12-31_TypesOfRisksAxis-SaudiArabianRiyalUsDollarExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:SaudiArabianRiyalUsDollarExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-01-01">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-01-01</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-01-21_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:SaudiSteelPipeCompanyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-01-21</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-02-05_JointVenturesAxis-WeldedPipePlantInWestSiberiaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:JointVenturesAxis">ts:WeldedPipePlantInWestSiberiaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-02-05</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-02-13_BorrowingsByNameAxis-SeveralBanksToRefinanceObligationsMember_LegalEntityAxis-TechgenSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:SeveralBanksToRefinanceObligationsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:TechgenSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-02-13</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-05-06">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-05-06</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-10-30">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-10-30</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfDiscountRatesMember_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ActuarialAssumptionsAxis">ifrs-full:ActuarialAssumptionOfDiscountRatesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfDiscountRatesMember_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ActuarialAssumptionsAxis">ifrs-full:ActuarialAssumptionOfDiscountRatesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ActuarialAssumptionsAxis">ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ActuarialAssumptionsAxis-ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ActuarialAssumptionsAxis">ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-BankBorrowingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:BankBorrowingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-BankOverdrafts1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:BankOverdrafts1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-FinanceLeaseLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:FinanceLeaseLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-OtherBorrowingsMember_MaturityAxis-NotLaterThanOneYearMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:OtherBorrowingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-SeveralBanksToRefinanceObligationsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:SeveralBanksToRefinanceObligationsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-SignificantBorrowingsAsOfClosingDateMember_SignificantInvestmentsInSubsidiariesAxis-SidercaSaicAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:SignificantBorrowingsAsOfClosingDateMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:SidercaSaicAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BorrowingsByNameAxis-SignificantBorrowingsAsOfClosingDateMember_SignificantInvestmentsInSubsidiariesAxis-TamsaHydrilAndOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BorrowingsByNameAxis">ts:SignificantBorrowingsAsOfClosingDateMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TamsaHydrilAndOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:HydrillAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:CoiledTubingMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:HydrillAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:HydrillAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:HydrilMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:HydrillAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OCTGUSAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:HydrillAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OtherCguMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:HydrillAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:SidercaHydrilAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:HydrillAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:TamsaHydrilAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-HydrillAcquisitionMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:HydrillAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:CoiledTubingMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:CoiledTubingMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:HydrilMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:HydrilMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OCTGUSAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OCTGUSAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OtherCguMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OtherCguMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:SidercaHydrilAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:SidercaHydrilAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:TamsaHydrilAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:TamsaHydrilAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_SegmentsAxis-AllOtherSegmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ifrs-full:AllOtherSegmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-MaverickAcquisitionMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:MaverickAcquisitionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_BusinessCombinationsAxis-SaudiSteelPipeCompanyMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:SaudiSteelPipeCompanyMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-DerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtAmortisedCostCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-DerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-DerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-OtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-OtherInvestments1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-OtherNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfFinancialAssetsAxis-FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfFinancialAssetsAxis">ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfRelatedPartiesAxis-AssociatesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:AssociatesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ifrs-full:OtherRelatedPartiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CategoriesOfRelatedPartiesAxis-SanFaustinSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CategoriesOfRelatedPartiesAxis">ts:SanFaustinSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesNotDueMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:CurrentTradeReceivablesNotDueMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueGreaterThan180DaysMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:CurrentTradeReceivablesPastDueGreaterThan180DaysMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-CurrentTradeReceivablesPastDueLessThan180DaysMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:CurrentTradeReceivablesPastDueLessThan180DaysMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsProvisionsAndAllowancesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsProvisionsAndAllowancesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-DeferredTaxAssetsTaxLossMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:DeferredTaxAssetsTaxLossMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-DerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-DerivativesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ifrs-full:DerivativesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-OtherReceivablesNonfinancialMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:OtherReceivablesNonfinancialMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfAssetsAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfAssetsAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-LegalProceedingsContingentLiabilityMember_CounterpartiesAxis-TribunalDeContasDaUniaoMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfContingentLiabilitiesAxis">ifrs-full:LegalProceedingsContingentLiabilityMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:TribunalDeContasDaUniaoMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityMember_GeographicalAreasAxis-BR_SignificantInvestmentsInSubsidiariesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfContingentLiabilitiesAxis">ifrs-full:TaxContingentLiabilityMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfContingentLiabilitiesAxis">ts:TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:DalmineSPAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2014Member_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfContingentLiabilitiesAxis">ts:TaxContingentLiabilityRelatedToFiscalYear2014Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:DalmineSPAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfContingentLiabilitiesAxis">ts:TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:DalmineSPAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfContingentLiabilitiesAxis">ts:TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:DalmineSPAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2015Member_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfContingentLiabilitiesAxis">ts:TaxContingentLiabilityRelatedToFiscalYear2015Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:DalmineSPAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfContingentLiabilitiesAxis-TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember_GeographicalAreasAxis-IT_SignificantInvestmentsInSubsidiariesAxis-DalmineSPAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfContingentLiabilitiesAxis">ts:TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:DalmineSPAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-BondsAndOtherFixedIncomeMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:BondsAndOtherFixedIncomeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CertificatesOfDepositsMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CertificatesOfDepositsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-CorporatesSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:CorporatesSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-NonUsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:NonUsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherInvestments1Member_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherInvestments1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-OtherNotesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:OtherNotesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialAssetsAxis-UsGovernmentSecuritiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialAssetsAxis">ts:UsGovernmentSecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialInstrumentsAxis-FinancialGuaranteeContractsMember_PastDueStatusAxis-PastDueMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialInstrumentsAxis">ifrs-full:FinancialGuaranteeContractsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:PastDueStatusAxis">ts:PastDueMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialInstrumentsAxis-GuaranteesUnderCreditInsuranceMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialInstrumentsAxis">ts:GuaranteesUnderCreditInsuranceMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialInstrumentsAxis-LetterOfCreditAndOtherBankGuaranteesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialInstrumentsAxis">ts:LetterOfCreditAndOtherBankGuaranteesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfFinancialInstrumentsAxis-OtherGuaranteesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfFinancialInstrumentsAxis">ts:OtherGuaranteesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-CustomerrelatedIntangibleAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:CustomerrelatedIntangibleAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-GoodwillMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ifrs-full:GoodwillMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-InformationSystemProjectsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:InformationSystemProjectsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-LicensesPatentsAndTrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:LicensesPatentsAndTrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfIntangibleAssetsAndGoodwillAxis-TrademarksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfIntangibleAssetsAndGoodwillAxis">ts:TrademarksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTabLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTabLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesFixedAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesFixedAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfLiabilitiesAxis-DeferredTaxLiabilitiesInventoryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DeferredTaxLiabilitiesInventoryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfLiabilitiesAxis-DerivativeLiabilitiesMember_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfLiabilitiesAxis">ts:DerivativeLiabilitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-IndustrialBuildingsPlantAndProductionEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:IndustrialBuildingsPlantAndProductionEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-LandAndCivilBuildingsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:LandAndCivilBuildingsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-SparePartsAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:SparePartsAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesFurnitureAndFixturesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ts:VehiclesFurnitureAndFixturesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfProvisionsAxis-AllowanceForDoubtfulAccountsTradeReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForDoubtfulAccountsTradeReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfProvisionsAxis-AllowanceForInventoryObsolescenceMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForInventoryObsolescenceMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfProvisionsAxis-AllowanceForOtherDoubtfulAccountsOtherReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:AllowanceForOtherDoubtfulAccountsOtherReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfProvisionsAxis-MiscellaneousOtherProvisionsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ifrs-full:MiscellaneousOtherProvisionsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfProvisionsAxis-NoncurrentAllowanceForReceivablesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:NoncurrentAllowanceForReceivablesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfProvisionsAxis-ProvisionForNoncurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionForNoncurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfProvisionsAxis-ProvisionsForCurrentLiabilitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:ProvisionsForCurrentLiabilitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfProvisionsAxis-SalesRisksMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfProvisionsAxis">ts:SalesRisksMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfShareCapitalAxis-OrdinarySharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:OrdinarySharesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ClassesOfShareCapitalAxis-PreferenceSharesMember_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfShareCapitalAxis">ifrs-full:PreferenceSharesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ComponentsOfEquityAxis-CurrencyTranslationAdjustmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:CurrencyTranslationAdjustmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:EquityAttributableToOwnersOfParentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ComponentsOfEquityAxis-IssuedCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:IssuedCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ComponentsOfEquityAxis-LegalReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ts:LegalReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:NoncontrollingInterestsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ComponentsOfEquityAxis-OtherReservesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:OtherReservesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ComponentsOfEquityAxis-RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ComponentsOfEquityAxis-SharePremiumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ComponentsOfEquityAxis">ifrs-full:SharePremiumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_ContinuingAndDiscontinuedOperationsAxis-DiscontinuedOperationsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:ContinuingAndDiscontinuedOperationsAxis">ifrs-full:DiscontinuedOperationsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartiesAxis-AirLiquideMexicoSDeRLDeCVMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:AirLiquideMexicoSDeRLDeCVMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartiesAxis-CanadianNationalRailwayMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:CanadianNationalRailwayMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartiesAxis-GraftechMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:GraftechMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartiesAxis-NucorSteelMemphisIncMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:NucorSteelMemphisIncMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartiesAxis-PraxairSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:PraxairSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartiesAxis-TransportadoraDeGasDelNorteSaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:TransportadoraDeGasDelNorteSaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartiesAxis-VE">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">country:VE</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartiesAxis-VE_SignificantInvestmentsInSubsidiariesAxis-TavsaAndComsiguaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">country:VE</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">ts:TavsaAndComsiguaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartiesAxis-ValeInternationalSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:CounterpartiesAxis">ts:ValeInternationalSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CounterpartyNameAxis-VeracelCeluloseSaMember_LegalEntityAxis-ConfabMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">ts:VeracelCeluloseSaMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="dei:LegalEntityAxis">ts:ConfabMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-ARS_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:ARS</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:EUR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-EUR_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:EUR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-MXN_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:MXN</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-OtherCurrencyMember_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">ts:OtherCurrencyMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-OtherCurrencyMember_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">ts:OtherCurrencyMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:SAR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-SAR_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:SAR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-US">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">country:US</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:USD</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_CurrencyAxis-USD_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CurrencyAxis">currency:USD</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_DefinedBenefitPlansAxis-FairValueOfFundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FairValueOfFundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_GeographicalAreasAxis-Canada1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Canada1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_DefinedBenefitPlansAxis-FundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:FundedPostemploymentBenefitsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-BottomOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_DefinedBenefitPlansAxis-UnfundedPostemploymentBenefitsMember_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:DefinedBenefitPlansAxis">ts:UnfundedPostemploymentBenefitsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-DerivativesHedgingBorrowingsAndInvestmentsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis">ts:DerivativesHedgingBorrowingsAndInvestmentsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-OtherDerivativesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis">ts:OtherDerivativesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-AR">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:AR</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-AsiaPacific1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:AsiaPacific1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-BR">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-BR_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:BR</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-CA">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CA</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-CO">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:CO</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-Europe1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:Europe1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-ID">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:ID</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-IT">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:IT</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-JP">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:JP</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-LU_SignificantInvestmentsInAssociatesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:LU</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-MX">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:MX</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-MiddleEastAndAfricaMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:MiddleEastAndAfricaMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-NorthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:NorthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-OtherGeographicalAreasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:OtherGeographicalAreasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-RO">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:RO</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-SouthAmerica1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:SouthAmerica1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-US">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">country:US</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_GeographicalAreasAxis-UnallocatedRegionMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:GeographicalAreasAxis">ts:UnallocatedRegionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractOtherMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeDerivativesContractsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_HedgingInstrumentsAxis-ForeignExchangeDerivativesContractsMember_TypesOfRisksAxis-OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:HedgingInstrumentsAxis">ts:ForeignExchangeDerivativesContractsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:CoiledTubingMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-CoiledTubingMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:CoiledTubingMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-ConfabIndustrialSaAndSubsidiariesMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:ConfabIndustrialSaAndSubsidiariesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:HydrilMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-HydrilMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:HydrilMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OCTGUSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OCTGUSAMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OCTGUSAMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OtherCguMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-OtherCguMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:OtherCguMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:SidercaHydrilAndOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-SidercaHydrilAndOtherMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:SidercaHydrilAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:TamsaHydrilAndOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-TamsaHydrilAndOtherMember_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis">ts:TamsaHydrilAndOtherMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level1OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level2OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:LevelsOfFairValueHierarchyAxis">ifrs-full:Level3OfFairValueHierarchyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_MaturityAxis-LaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_MaturityAxis-LaterThanFourYearsAndNotLaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanFiveYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_MaturityAxis-LaterThanOneYearAndNotLaterThanTwoYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_MaturityAxis-LaterThanOneYearMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanOneYearMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_MaturityAxis-LaterThanThreeYearsAndNotLaterThanFourYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_MaturityAxis-LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_MaturityAxis-NotLaterThanOneYearMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:MaturityAxis">ifrs-full:NotLaterThanOneYearMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_PastDueStatusAxis-PastDueMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:PastDueStatusAxis">ts:PastDueMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_RangeAxis-BottomOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:BottomOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_RangeAxis-TopOfRangeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:TopOfRangeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_RangeAxis-WeightedAverageMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:RangeAxis">ifrs-full:WeightedAverageMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_SegmentsAxis-TubesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SegmentsAxis">ts:TubesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-OtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:OtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TechgenSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TechgenSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-TerniumSAMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:TerniumSAMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_SignificantInvestmentsInAssociatesAxis-UsiminasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInAssociatesAxis">ts:UsiminasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfHedgesAxis-CashFlowHedgesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfHedgesAxis">ifrs-full:CashFlowHedgesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfInterestRatesAxis-FixedInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FixedInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfInterestRatesAxis-FloatingInterestRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfInterestRatesAxis">ifrs-full:FloatingInterestRateMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfRisksAxis-ArgentinePesoUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:ArgentinePesoUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfRisksAxis-CustomerConcentrationRisk1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:CustomerConcentrationRisk1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfRisksAxis-EuroUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:EuroUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfRisksAxis-OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfRisksAxis-OnePercentChangeEuroUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:OnePercentChangeEuroUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfRisksAxis-OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_TypesOfRisksAxis-SaudiArabianRiyalUsDollarExchangeRiskMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:TypesOfRisksAxis">ts:SaudiArabianRiyalUsDollarExchangeRiskMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_UnobservableInputsAxis-DiscountRateMeasurementInputMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:UnobservableInputsAxis">ifrs-full:DiscountRateMeasurementInputMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_UnobservableInputsAxis-GrowthRateMeasurementInputMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:UnobservableInputsAxis">ts:GrowthRateMeasurementInputMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2019-12-31_UnobservableInputsAxis-ProjectedChangeRateInFutureCashFlowsMeasurementInputMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:UnobservableInputsAxis">ts:ProjectedChangeRateInFutureCashFlowsMeasurementInputMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-12-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2020-01-02_BusinessCombinationsAxis-AcquisitionOfIPSCOMember_NonadjustingEventsAfterReportingPeriodAxis-MajorBusinessCombinationMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:BusinessCombinationsAxis">ts:AcquisitionOfIPSCOMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:NonadjustingEventsAfterReportingPeriodAxis">ifrs-full:MajorBusinessCombinationMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-01-02</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="i_2020-03-31_NonadjustingEventsAfterReportingPeriodAxis-NetCashPositionMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0001190723</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="ifrs-full:NonadjustingEventsAfterReportingPeriodAxis">ts:NetCashPositionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-03-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
</xbrli:xbrl>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>10
<FILENAME>ts-20191231.xsd
<DESCRIPTION>XBRL SCHEMA FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome XBRL - 02:19AM UTC 2020-04-30--><xsd:schema xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:country="http://xbrl.sec.gov/country/2020-01-31" xmlns:currency="http://xbrl.sec.gov/currency/2020-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31" xmlns:exch="http://xbrl.sec.gov/exch/2020-01-31" xmlns:ifrs-full="http://xbrl.ifrs.org/taxonomy/2019-03-27/ifrs-full" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:naics="http://xbrl.sec.gov/naics/2011-01-31" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:sic="http://xbrl.sec.gov/sic/2020-01-31" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:stpr="http://xbrl.sec.gov/stpr/2018-01-31" xmlns:ts="http://us.tenaris.com/20191231" xmlns:us-types="http://fasb.org/srt-types/2020-01-31" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" attributeFormDefault="unqualified" elementFormDefault="qualified" targetNamespace="http://us.tenaris.com/20191231">
  <xsd:import namespace="http://xbrl.sec.gov/sic/2020-01-31" schemaLocation="https://xbrl.sec.gov/sic/2020/sic-2020-01-31.xsd"/>
  <xsd:import namespace="http://xbrl.sec.gov/exch/2020-01-31" schemaLocation="https://xbrl.sec.gov/exch/2020/exch-2020-01-31.xsd"/>
  <xsd:import namespace="http://xbrl.sec.gov/naics/2011-01-31" schemaLocation="http://xbrl.sec.gov/naics/2011/naics-2011-01-31.xsd"/>
  <xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
  <xsd:import namespace="http://xbrl.ifrs.org/taxonomy/2019-03-27/ifrs-full" schemaLocation="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd"/>
  <xsd:import namespace="http://xbrl.sec.gov/country/2020-01-31" schemaLocation="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd"/>
  <xsd:import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd"/>
  <xsd:import namespace="http://xbrl.sec.gov/stpr/2018-01-31" schemaLocation="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd"/>
  <xsd:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>
  <xsd:import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd"/>
  <xsd:import namespace="http://xbrl.sec.gov/currency/2020-01-31" schemaLocation="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd"/>
  <xsd:import namespace="http://fasb.org/srt-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd"/>
  <xsd:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd"/>
  <xsd:import namespace="http://fasb.org/srt/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd"/>
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="ts-20191231_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="ts-20191231_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="ts-20191231_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="ts-20191231_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:type="simple"/>
      <link:roleType id="statement-document-and-entity-information" roleURI="http://us.tenaris.com/20191231/role/statement-document-and-entity-information">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">000 - Document - Document And Entity Information</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement--consolidated-income-statement" roleURI="http://us.tenaris.com/20191231/role/statement--consolidated-income-statement">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">001 - Statement - Consolidated Income Statement</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-consolidated-statement-of-comprehensive-income" roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-comprehensive-income">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">002 - Statement - Consolidated Statement of Comprehensive Income</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-consolidated-statement-of-financial-position" roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-financial-position">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">003 - Statement - Consolidated Statement of Financial Position</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-consolidated-statement-of-changes-in-equity" roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">004 - Statement - Consolidated Statement of Changes In Equity</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-consolidated-statement-of-changes-in-equity-parentheticals" roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity-parentheticals">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">005 - Statement - Consolidated Statement of Changes In Equity (Parentheticals)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-consolidated-statement-of-cash-flows" roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-cash-flows">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">006 - Statement - Consolidated Statement of Cash Flows</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-i-general-information" roleURI="http://us.tenaris.com/20191231/role/statement-i-general-information">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">007 - Disclosure - I. General Information</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-ii-accounting-policies" roleURI="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">008 - Disclosure - II. Accounting Policies</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-iii-financial-risk-management" roleURI="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">009 - Disclosure - III. Financial Risk Management</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-1-segment-information" roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">010 - Disclosure - Note 1 - Segment Information</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-2-cost-of-sales" roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">011 - Disclosure - Note 2 - Cost of Sales</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-3-selling-general-and-administrative-expenses" roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">012 - Disclosure - Note 3 - Selling, General and Administrative Expenses</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses" roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">013 - Disclosure - Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-5-other-operating-income-and-expenses" roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">014 - Disclosure - Note 5 - Other Operating Income and Expenses</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-6-financial-results" roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">015 - Disclosure - Note 6 - Financial Results</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-7-income-tax" roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">016 - Disclosure - Note 7 - Income Tax</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-8-dividends-distribution" roleURI="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">017 - Disclosure - Note 8 - Dividends Distribution</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-9-property-plant-and-equipment-net" roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">018 - Disclosure - Note 9 - Property, Plant and Equipment, Net</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-10-intangible-assets-net" roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">019 - Disclosure - Note 10 - Intangible Assets, Net</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-11-rightofuse-assets-net-and-lease-liabilities" roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">020 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-12-investments-in-nonconsolidated-companies" roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">021 - Disclosure - Note 12 - Investments in Non-consolidated Companies</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-13-receivables-non-current" roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">022 - Disclosure - Note 13 - Receivables - Non Current</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-14-inventories-net" roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">023 - Disclosure - Note 14 - Inventories, Net</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-15-receivables-and-prepayments-net" roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">024 - Disclosure - Note 15 - Receivables and Prepayments, Net</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-16-current-tax-assets-and-liabilities" roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">025 - Disclosure - Note 16 - Current Tax Assets and Liabilities</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-17-trade-receivables-net" roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">026 - Disclosure - Note 17 - Trade Receivables, Net</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-18-cash-and-cash-equivalents-and-other-investments" roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">027 - Disclosure - Note 18 - Cash and Cash Equivalents and Other Investments</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-19-borrowings" roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">028 - Disclosure - Note 19 - Borrowings</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-20-deferred-income-tax" roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">029 - Disclosure - Note 20 - Deferred Income Tax</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-21-other-liabilities" roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">030 - Disclosure - Note 21 - Other Liabilities</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-22-noncurrent-allowances-and-provisions" roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">031 - Disclosure - Note 22 - Non-current Allowances and Provisions</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-23-current-allowances-and-provisions" roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">032 - Disclosure - Note 23 - Current Allowances and Provisions</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-24-derivative-financial-instruments" roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">033 - Disclosure - Note 24 - Derivative Financial Instruments</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits" roleURI="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">034 - Disclosure - Note 25 - Contingencies, Commitments and Restrictions On the Distribution of Profits</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia" roleURI="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">035 - Disclosure - Note 26 - Agreement to Build a Welded Pipe Plant in West Siberia</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-27-business-combinations" roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">036 - Disclosure - Note 27 - Business Combinations</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-28-cash-flow-disclosures" roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">037 - Disclosure - Note 28 - Cash Flow Disclosures</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-29-discontinued-operations" roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">038 - Disclosure - Note 29 - Discontinued Operations</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-30-related-party-transactions" roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">039 - Disclosure - Note 30 - Related Party Transactions</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-31-fees-paid-to-the-companys-principal-accountant" roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">040 - Disclosure - Note 31 - Fees Paid to the Company's Principal Accountant</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-32-principal-subsidiaries" roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">041 - Disclosure - Note 32 - Principal Subsidiaries</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-33-nationalization-of-venezuelan-subsidiaries" roleURI="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">042 - Disclosure - Note 33 - Nationalization of Venezuelan Subsidiaries</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-34-delisting-of-tenariss-shares-from-the-buenos-aires-stock-exchange" roleURI="http://us.tenaris.com/20191231/role/statement-note-34-delisting-of-tenariss-shares-from-the-buenos-aires-stock-exchange">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">043 - Disclosure - Note 34 - Delisting of Tenaris's Shares from the Buenos Aires Stock Exchange</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-35-subsequent-events" roleURI="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">044 - Disclosure - Note 35 - Subsequent Events</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-36-update-as-of-april-29-2020" roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">045 - Disclosure - Note 36 - Update as of April 29, 2020</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-significant-accounting-policies-policies" roleURI="http://us.tenaris.com/20191231/role/statement-significant-accounting-policies-policies">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">046 - Disclosure - Significant Accounting Policies (Policies)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-ii-accounting-policies-tables" roleURI="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">047 - Disclosure - II. Accounting Policies (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-iii-financial-risk-management-tables" roleURI="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">048 - Disclosure - III. Financial Risk Management (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-1-segment-information-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">049 - Disclosure - Note 1 - Segment Information (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-2-cost-of-sales-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">050 - Disclosure - Note 2 - Cost of Sales (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-3-selling-general-and-administrative-expenses-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">051 - Disclosure - Note 3 - Selling, General and Administrative Expenses (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">052 - Disclosure - Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-5-other-operating-income-and-expenses-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">053 - Disclosure - Note 5 - Other Operating Income and Expenses (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-6-financial-results-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">054 - Disclosure - Note 6 - Financial Results (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-7-income-tax-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">055 - Disclosure - Note 7 - Income Tax (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-9-property-plant-and-equipment-net-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">056 - Disclosure - Note 9 - Property, Plant and Equipment, Net (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-10-intangible-assets-net-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">057 - Disclosure - Note 10 - Intangible Assets, Net (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">058 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-12-investments-in-nonconsolidated-companies-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">059 - Disclosure - Note 12 - Investments in Non-consolidated Companies (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-13-receivables-non-current-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">060 - Disclosure - Note 13 - Receivables - Non Current (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-14-inventories-net-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">061 - Disclosure - Note 14 - Inventories, Net (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-15-receivables-and-prepayments-net-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">062 - Disclosure - Note 15 - Receivables and Prepayments, Net (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-16-current-tax-assets-and-liabilities-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">063 - Disclosure - Note 16 - Current Tax Assets and Liabilities (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-17-trade-receivables-net-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">064 - Disclosure - Note 17 - Trade Receivables, Net (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">065 - Disclosure - Note 18 - Cash and Cash Equivalents and Other Investments (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-19-borrowings-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">066 - Disclosure - Note 19 - Borrowings (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-20-deferred-income-tax-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">067 - Disclosure - Note 20 - Deferred Income Tax (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-21-other-liabilities-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">068 - Disclosure - Note 21 - Other Liabilities (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-22-noncurrent-allowances-and-provisions-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">069 - Disclosure - Note 22 - Non-current Allowances and Provisions (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-23-current-allowances-and-provisions-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">070 - Disclosure - Note 23 - Current Allowances and Provisions (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-24-derivative-financial-instruments-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">071 - Disclosure - Note 24 - Derivative Financial Instruments (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-27-business-combinations-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">072 - Disclosure - Note 27 - Business Combinations (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-28-cash-flow-disclosures-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">073 - Disclosure - Note 28 - Cash Flow Disclosures (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-29-discontinued-operations-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">074 - Disclosure - Note 29 - Discontinued Operations (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-30-related-party-transactions-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">075 - Disclosure - Note 30 - Related Party Transactions (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">076 - Disclosure - Note 31 - Fees Paid to the Company's Principal Accountant (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-32-principal-subsidiaries-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">077 - Disclosure - Note 32 - Principal Subsidiaries (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-36-update-as-of-april-29-2020-tables" roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-tables">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">078 - Disclosure - Note 36 - Update as of April 29, 2020 (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-ii-accounting-policies-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">079 - Disclosure - II. Accounting Policies (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" roleURI="http://us.tenaris.com/20191231/role/statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">080 - Disclosure - Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" roleURI="http://us.tenaris.com/20191231/role/statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">081 - Disclosure - Accounting Policies - Changes in Key Assumptions That Would Cause the Recoverable Amount to Equal the Carrying Value (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-iii-financial-risk-management-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">082 - Disclosure - III. Financial Risk Management (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">083 - Disclosure - Financial Risk Management - Financial Assets and Liabilities Which Impact Profit and Loss (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">084 - Disclosure - Financial Risk Management - Proportions of Variable-rate and Fixed-rate Debt (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">085 - Disclosure - Financial Risk Management - Financial Instruments and Classification Within the Fair Value Hierarchy (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">086 - Disclosure - Financial Risk Management - Changes in Level 3 Assets and Liabilities (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-1-segment-information-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">087 - Disclosure - Note 1 - Segment Information (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-1-segment-information-reportable-operating-segments-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-reportable-operating-segments-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">088 - Disclosure - Note 1 - Segment Information - Reportable Operating Segments (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-1-segment-information-geographical-information-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-geographical-information-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">089 - Disclosure - Note 1 - Segment Information - Geographical Information (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-1-segment-information-tubes-segment-revenues-by-market-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tubes-segment-revenues-by-market-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">090 - Disclosure - Note 1 - Segment Information - Tubes Segment Revenues By Market (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-2-cost-of-sales-components-of-cost-of-sales-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-components-of-cost-of-sales-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">091 - Disclosure - Note 2 - Cost of Sales - Components of Cost of Sales (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">092 - Disclosure - Note 3 - Selling, General and Administrative Expenses - Components of Selling, General and Administrative Expenses (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">093 - Disclosure - Note 4 - Labor Costs - Summary of Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">094 - Disclosure - Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) - Number of Employees (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">095 - Disclosure - Note 5 - Other Operating Income and Expenses - Components of Other Operating Income and Expenses (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-6-financial-results-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">096 - Disclosure - Note 6 - Financial Results (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-6-financial-results-financial-income-cost-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-financial-income-cost-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">097 - Disclosure - Note 6 - Financial Results - Financial Income (Cost) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-7-income-tax-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">098 - Disclosure - Note 7 - Income Tax (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">099 - Disclosure - Note 7 - Income Tax - Summary of Income Tax Expense (Benefit) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">100 - Disclosure - Note 7 - Income Tax - Summary of Differences Between Income Tax and Theoretical Amount Using Tax Rate in Each Country (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-8-dividends-distribution-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">101 - Disclosure - Note 8 - Dividends Distribution (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-9-property-plant-and-equipment-net-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">102 - Disclosure - Note 9 - Property, Plant and Equipment, Net (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">103 - Disclosure - Note 9 - Property, Plant and Equipment, Net - Components of Property, Plant and Equipment, Net (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-10-intangible-assets-net-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">104 - Disclosure - Note 10 - Intangible Assets, Net (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">105 - Disclosure - Note 10 - Intangible Assets, Net - Intangible Assets and Goodwill (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">106 - Disclosure - Note 10 - Intangible Assets, Net - Goodwill Allocated by CGU (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-11-rightofuse-assets-net-and-lease-liabilities-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">107 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">108 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Right-of-use Assets (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">109 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Lease Liability (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-12-investments-in-nonconsolidated-companies-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">110 - Disclosure - Note 12 - Investments in Non-consolidated Companies (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">111 - Disclosure - Note 12 - Investments in Non-consolidated Companies - Summary of Investments in Non-consolidated Companies (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">112 - Disclosure - Note 12 - Investments in Non-consolidated Companies - Principal Non-consolidated Companies (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">113 - Disclosure - Note 12 - Investments in Non-consolidated Companies - Summary of Selected Financial Information (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-13-receivables-non-current-components-of-receivables-non-current-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-components-of-receivables-non-current-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">114 - Disclosure - Note 13 - Receivables - Non Current - Components of Receivables Non Current (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-14-inventories-net-components-of-inventories-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-components-of-inventories-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">115 - Disclosure - Note 14 - Inventories, Net - Components of Inventories (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">116 - Disclosure - Note 15 - Receivables and Prepayments, Net - Summary of Receivables and Prepayments (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">117 - Disclosure - Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Assets (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">118 - Disclosure - Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Liabilities (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">119 - Disclosure - Note 17 - Trade Receivables, Net - Summary of Current Trade Receivables (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">120 - Disclosure - Note 17 - Trade Receivables, Net - Summary of the Aging of Trade Receivables (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">121 - Disclosure - Note 18 - Cash and Cash Equivalents and Other Investments - Components of Cash and Cash Equivalents and Other Investments (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-19-borrowings-noncurrent-and-current-borrowings-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-noncurrent-and-current-borrowings-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">122 - Disclosure - Note 19 - Borrowings - Non-current and Current Borrowings (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-19-borrowings-maturity-of-borrowings-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-maturity-of-borrowings-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">123 - Disclosure - Note 19 - Borrowings - Maturity of Borrowings (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">124 - Disclosure - Note 19 - Borrowings - Significant Borrowings as of Closing Date (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">125 - Disclosure - Note 19 - Borrowings - Weighted Average Interest Rates of Borrowings (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-19-borrowings-borrowings-by-currency-and-rate-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-by-currency-and-rate-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">126 - Disclosure - Note 19 - Borrowings - Borrowings by Currency and Rate (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-19-borrowings-borrowings-evolution-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-evolution-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">127 - Disclosure - Note 19 - Borrowings - Borrowings Evolution (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-20-deferred-income-tax-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">128 - Disclosure - Note 20 - Deferred Income Tax (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">129 - Disclosure - Note 20 - Deferred Income Tax - Deferred Tax Assets and Liabilities (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">130 - Disclosure - Note 20 - Deferred Income Tax - Recovery Analysis of Deferred Tax Assets and Liabilities (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">131 - Disclosure - Note 20 - Deferred Income Tax - Net Deferred Tax Liabilities (Assets) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-21-other-liabilities-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">132 - Disclosure - Note 21 - Other Liabilities (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-21-other-liabilities-other-noncurrent-liabilities-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-noncurrent-liabilities-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">133 - Disclosure - Note 21 - Other Liabilities - Other Noncurrent Liabilities (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-21-other-liabilities-postemployment-benefits-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-postemployment-benefits-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">134 - Disclosure - Note 21 - Other Liabilities - Post-employment Benefits (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-21-other-liabilities-actuarial-assumptions-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-actuarial-assumptions-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">135 - Disclosure - Note 21 - Other Liabilities - Actuarial Assumptions (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-21-other-liabilities-plan-assets-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-plan-assets-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">136 - Disclosure - Note 21 - Other Liabilities - Plan Assets (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-21-other-liabilities-other-current-liabilities-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-current-liabilities-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">137 - Disclosure - Note 21 - Other Liabilities - Other Current Liabilities (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">138 - Disclosure - Note 22 - Non-current Allowances and Provisions - Deducted From Non-current Receivables (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-liabilities-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">139 - Disclosure - Note 22 - Non-current Allowances and Provisions - Liabilities (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-deducted-from-assets-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">140 - Disclosure - Note 23 - Current Allowances and Provisions - Deducted From Assets (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-23-current-allowances-and-provisions-liabilities-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-liabilities-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">141 - Disclosure - Note 23 - Current Allowances and Provisions - Liabilities (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-24-derivative-financial-instruments-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">142 - Disclosure - Note 24 - Derivative Financial Instruments (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-24-derivative-financial-instruments-net-fair-values-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-net-fair-values-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">143 - Disclosure - Note 24 - Derivative Financial Instruments - Net Fair Values (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">144 - Disclosure - Note 24 - Derivative Financial Instruments - Foreign Exchange Derivative Contracts and Hedge Accounting (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">145 - Disclosure - Note 24 - Derivative Financial Instruments - Hedge Reserve Evolution (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">146 - Disclosure - Note 25 - Contingencies, Commitments and Restrictions On the Distribution of Profits (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">147 - Disclosure - Note 26 - Agreement to Build a Welded Pipe Plant in West Siberia (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-27-business-combinations-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">148 - Disclosure - Note 27 - Business Combinations (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-27-business-combinations-assets-and-liabilities-assumed-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-assets-and-liabilities-assumed-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">149 - Disclosure - Note 27 - Business Combinations - Assets and Liabilities Assumed (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">150 - Disclosure - Note 28 - Cash Flow Disclosures - Cash Flow Disclosures (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-29-discontinued-operations-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">151 - Disclosure - Note 29 - Discontinued Operations (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">152 - Disclosure - Note 29 - Discontinued Operations - Components of Discontinued Operation's Net Income (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">153 - Disclosure - Note 29 - Discontinued Operations - Components Gain on Sale After Income Tax for Disposals (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-29-discontinued-operations-discontinued-operations-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-discontinued-operations-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">154 - Disclosure - Note 29 - Discontinued Operations - Discontinued Operations (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-30-related-party-transactions-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">155 - Disclosure - Note 30 - Related Party Transactions (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">156 - Disclosure - Note 30 - Related Party Transactions - Transactions Carried Out With Related Parties (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">157 - Disclosure - Note 31 - Fees Paid to the Company's Principal Accountant - Fees Accrued for Professional Services (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-32-principal-subsidiaries-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">158 - Disclosure - Note 32 - Principal Subsidiaries (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">159 - Disclosure - Note 32 - Principal Subsidiaries - Percentage of Ownership of Each Controlled Company (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-33-nationalization-of-venezuelan-subsidiaries-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">160 - Disclosure - Note 33 - Nationalization of Venezuelan Subsidiaries (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-35-subsequent-events-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">161 - Disclosure - Note 35 - Subsequent Events (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-36-update-as-of-april-29-2020-details-textual" roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-details-textual">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">162 - Disclosure - Note 36 - Update as of April 29, 2020 (Details Textual)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
      <link:roleType id="statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details">
        <link:definition xmlns="http://www.xbrl.org/2003/linkbase">163 - Disclosure - Note 36 - Update as of April 29, 2020 - Assets and Liabilities Assumed (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
  <xsd:element abstract="true" id="ts_AcquisitionOfIPSCOMember" name="AcquisitionOfIPSCOMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_AdditionalProvisionsOtherProvisionsReversals" name="AdditionalProvisionsOtherProvisionsReversals" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" name="AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss" name="AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_AirLiquideMexicoSDeRLDeCVMember" name="AirLiquideMexicoSDeRLDeCVMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_AlgomaTubesIncMember" name="AlgomaTubesIncMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" name="AllowanceForDoubfulAccountsNetOfNominativeAllowances" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" name="AllowanceForDoubtfulAccountsTradeReceivablesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_AllowanceForInventoryObsolescenceMember" name="AllowanceForInventoryObsolescenceMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_AllowanceForOtherDoubtfulAccounts" name="AllowanceForOtherDoubtfulAccounts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" name="AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_AmajaTubularServicesLimitedMember" name="AmajaTubularServicesLimitedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" name="AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" name="AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_AmountsReceivablePayableRelatedPartyTransactions" name="AmountsReceivablePayableRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_Argentina1Member" name="Argentina1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ArgentinePesoUsDollarForeignExchangeRiskMember" name="ArgentinePesoUsDollarForeignExchangeRiskMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_AsiaPacific1Member" name="AsiaPacific1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_AuditorsRemunerationForAuditrelatedFees" name="AuditorsRemunerationForAuditrelatedFees" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_BankBorrowingsMember" name="BankBorrowingsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_BankOverdrafts1Member" name="BankOverdrafts1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_BasicAndDilutedEarningsLossesPerAds" name="BasicAndDilutedEarningsLossesPerAds" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" name="BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_BondsAndOtherFixedIncomeMember" name="BondsAndOtherFixedIncomeMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_BorrowingsIncludingInterestToBeAccrued" name="BorrowingsIncludingInterestToBeAccrued" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_BuildingsAndImprovementsMember" name="BuildingsAndImprovementsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_Canada1Member" name="Canada1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_CanadianNationalRailwayMember" name="CanadianNationalRailwayMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_CarryingValueOfUnitsGranted" name="CarryingValueOfUnitsGranted" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" name="CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_CertificatesOfDepositsMember" name="CertificatesOfDepositsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations" name="ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ChubbMember" name="ChubbMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_ClosingPricePerADS" name="ClosingPricePerADS" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_ClosingPricePerShare" name="ClosingPricePerShare" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_CoiledTubingMember" name="CoiledTubingMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_Colombia1Member" name="Colombia1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_CommercialPapersMember" name="CommercialPapersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_CompanhiaSiderrgicaNacionalMember" name="CompanhiaSiderrgicaNacionalMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_ComprehensiveIncomeFromContinuingOperations" name="ComprehensiveIncomeFromContinuingOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ComprehensiveIncomeFromDiscontinuedOperations" name="ComprehensiveIncomeFromDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ConcentrationRiskPercentage" name="ConcentrationRiskPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ConfabIndustrialSaAndSubsidiariesMember" name="ConfabIndustrialSaAndSubsidiariesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ConfabMember" name="ConfabMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ContinuingAndDiscontinuedOperationsAbstract" name="ContinuingAndDiscontinuedOperationsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ContinuingOperations1Member" name="ContinuingOperations1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ContinuingOperationsAbstract" name="ContinuingOperationsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_CorporatesSecuritiesMember" name="CorporatesSecuritiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesAllowanceForObsolescence" name="CostOfSalesAllowanceForObsolescence" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesAmortizationOfIntangibleAssets" name="CostOfSalesAmortizationOfIntangibleAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" name="CostOfSalesDepreciationOfPropertyPlantAndEquipment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesDiscontinuedOperations" name="CostOfSalesDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesIncludingDiscontinuedOperations" name="CostOfSalesIncludingDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesLaborCost" name="CostOfSalesLaborCost" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesMaintenanceExpenses" name="CostOfSalesMaintenanceExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesOther" name="CostOfSalesOther" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" name="CostOfSalesRawMaterialsEnergyConsumablesAndOther" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesServicesAndFees" name="CostOfSalesServicesAndFees" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_CostOfSalesTaxes" name="CostOfSalesTaxes" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_CounterpartyRiskMember" name="CounterpartyRiskMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets" name="CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_CurrencyTranslationAdjustmentMember" name="CurrencyTranslationAdjustmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" name="CurrentBorrowingsBeforeCostsOfIssueOfDebt" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentCostsOfIssueOfDebt" name="CurrentCostsOfIssueOfDebt" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentEmployeeRelatedLiabilities" name="CurrentEmployeeRelatedLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentIncomeTaxLiabilities" name="CurrentIncomeTaxLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentOtherTaxLiabilities" name="CurrentOtherTaxLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentPrepaidTaxes" name="CurrentPrepaidTaxes" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts" name="CurrentTradeReceivablesAllowanceForDoubtfulAccounts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentTradeReceivablesCurrentAccounts" name="CurrentTradeReceivablesCurrentAccounts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentTradeReceivablesExpectedLossRate" name="CurrentTradeReceivablesExpectedLossRate" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentTradeReceivablesGross" name="CurrentTradeReceivablesGross" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentTradeReceivablesGuaranteed" name="CurrentTradeReceivablesGuaranteed" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" name="CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_CurrentTradeReceivablesNotDueMember" name="CurrentTradeReceivablesNotDueMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_CurrentTradeReceivablesNotGuaranteed" name="CurrentTradeReceivablesNotGuaranteed" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" name="CurrentTradeReceivablesPastDueGreaterThan180DaysMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" name="CurrentTradeReceivablesPastDueLessThan180DaysMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_CustomerConcentrationRisk1Member" name="CustomerConcentrationRisk1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DalmineSPAMember" name="DalmineSPAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets" name="DebtInstrumentsPercentContributedToFairValueOfPlanAssets" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_DebtServiceCoverageRatioCoveredPercent" name="DebtServiceCoverageRatioCoveredPercent" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_DebtToEquityRatio" name="DebtToEquityRatio" nillable="true" substitutionGroup="xbrli:item" type="xbrli:pureItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_DeferredTabLiabilitiesMember" name="DeferredTabLiabilitiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" name="DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DeferredTaxAssetsInventoryMember" name="DeferredTaxAssetsInventoryMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DeferredTaxAssetsMember" name="DeferredTaxAssetsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DeferredTaxAssetsOtherMember" name="DeferredTaxAssetsOtherMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DeferredTaxAssetsProvisionsAndAllowancesMember" name="DeferredTaxAssetsProvisionsAndAllowancesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries" name="DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_DeferredTaxAssetsTaxLossMember" name="DeferredTaxAssetsTaxLossMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DeferredTaxLiabilitiesFixedAssetsMember" name="DeferredTaxLiabilitiesFixedAssetsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" name="DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DeferredTaxLiabilitiesInventoryMember" name="DeferredTaxLiabilitiesInventoryMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" name="DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_DeferredTaxTextBlock" name="DeferredTaxTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DelistingOfSharesFromStockExchangeExplanatory" name="DelistingOfSharesFromStockExchangeExplanatory" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" name="DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_DerivativeFinancialAssetsLiabilities" name="DerivativeFinancialAssetsLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_DerivativeLiabilitiesMember" name="DerivativeLiabilitiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DerivativesHedgingBorrowingsAndInvestmentsMember" name="DerivativesHedgingBorrowingsAndInvestmentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" name="DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" name="DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" name="DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" name="DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfActuarialAssumptionsTextBlock" name="DisclosureOfActuarialAssumptionsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfAuditorsRemunerationTextBlock" name="DisclosureOfAuditorsRemunerationTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfBorrowingsEvolutionTextBlock" name="DisclosureOfBorrowingsEvolutionTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" name="DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" name="DisclosureOfCurrentAllowancesAndProvisionsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" name="DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" name="DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" name="DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" name="DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" name="DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" name="DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" name="DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" name="DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" name="DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" name="DisclosureOfDetailedInformationAboutFinancialIncomeCost" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" name="DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" name="DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" name="DisclosureOfDetailedInformationAboutInventoriesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" name="DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" name="DisclosureOfDetailedInformationAboutLaborCostsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" name="DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" name="DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" name="DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" name="DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" name="DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" name="DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" name="DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" name="DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" name="DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" name="DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" name="DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" name="DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" name="DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" name="DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" name="DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" name="DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" name="DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" name="DisclosureOfInformationAboutNumberOfEmployeesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" name="DisclosureOfNationalizationOfSubsidiariesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" name="DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfNoncurrentReceivablesTextBlock" name="DisclosureOfNoncurrentReceivablesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" name="DisclosureOfReceivablesAndPrepaymentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" name="DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" name="DisclosureOfSaleOfDiscontinuedOperationsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DisclosureOfSignificantAccountingPoliciesAbstract" name="DisclosureOfSignificantAccountingPoliciesAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_DiscontinuedOperationsAbstract" name="DiscontinuedOperationsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DividendsDeclaredByNonconsolidatedCompanies" name="DividendsDeclaredByNonconsolidatedCompanies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_DividendsPaidIncludingNoncontrollingInterest" name="DividendsPaidIncludingNoncontrollingInterest" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_DividendsPaidPerADS" name="DividendsPaidPerADS" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_DividendsPayableAmountPerADS" name="DividendsPayableAmountPerADS" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_DividendsPayableAmountPerADSIncludingInterimDividend" name="DividendsPayableAmountPerADSIncludingInterimDividend" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_DividendsPayableAmountPerShareIncludingInterimDividend" name="DividendsPayableAmountPerShareIncludingInterimDividend" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_DocumentAndEntityInformation" name="DocumentAndEntityInformation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" name="EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfBusinessCombinationsOnLongtermBorrowings" name="EffectOfBusinessCombinationsOnLongtermBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfChangesInAccountingPolicy" name="EffectOfChangesInAccountingPolicy" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" name="EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" name="EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" name="EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" name="EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" name="EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfOverdraftsVariationOnLongtermBorrowings" name="EffectOfOverdraftsVariationOnLongtermBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" name="EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfReclassificationsOnLongtermBorrowings" name="EffectOfReclassificationsOnLongtermBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" name="EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EffectOfTranslationDifferencesOnLongtermBorrowings" name="EffectOfTranslationDifferencesOnLongtermBorrowings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EmployeeBenefitsCompanyRedemptionPeriod" name="EmployeeBenefitsCompanyRedemptionPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_EmployeeBenefitsEarlyRedemptionPeriod" name="EmployeeBenefitsEarlyRedemptionPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_EmployeeBenefitsExpenseDiscontinuedOperations" name="EmployeeBenefitsExpenseDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" name="EmployeeBenefitsExpenseIncludingDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_EmployeeBenefitsUnitVestingPeriod" name="EmployeeBenefitsUnitVestingPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" name="EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_EquityAdjustedBalance" name="EquityAdjustedBalance" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets" name="EquityInstrumentsPercentContributedToFairValueOfPlanAssets" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts" name="EstimatedAnnualSavingsFromTheReductionOfFixedCosts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_EuroUsDollarForeignExchangeRiskMember" name="EuroUsDollarForeignExchangeRiskMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_Europe1Member" name="Europe1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_FairValueOfFundedPostemploymentBenefitsMember" name="FairValueOfFundedPostemploymentBenefitsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_FinanceIncomeCostContinuingOperations" name="FinanceIncomeCostContinuingOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_FinanceIncomeCostDiscontinuedOperations" name="FinanceIncomeCostDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" name="FinanceLeaseLiabilitiesFromNonconsolidatedParties" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_FinanceLeaseLiabilitiesMember" name="FinanceLeaseLiabilitiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_FinancialDebtRelatedParties" name="FinancialDebtRelatedParties" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue" name="FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_FineImposedPercentageOfAllegedlyUndueCredits" name="FineImposedPercentageOfAllegedlyUndueCredits" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_FinitelivedIntangibleAssetResidualUsefulLife" name="FinitelivedIntangibleAssetResidualUsefulLife" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_FinitelivedIntangibleAssetResidualValue" name="FinitelivedIntangibleAssetResidualValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_FinitelivedIntangibleAssetUsefulLife" name="FinitelivedIntangibleAssetUsefulLife" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" name="FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractOtherMember" name="ForeignExchangeContractOtherMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" name="ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" name="ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" name="ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" name="ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" name="ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" name="ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" name="ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" name="ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" name="ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" name="ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ForeignExchangeDerivativesContractsMember" name="ForeignExchangeDerivativesContractsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_ForeignExchangeDerivativesContractsResults" name="ForeignExchangeDerivativesContractsResults" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ForeignExchangeRiskCurrencyExposure" name="ForeignExchangeRiskCurrencyExposure" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_FundedPostemploymentBenefitsMember" name="FundedPostemploymentBenefitsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher" name="GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_GarrettMember" name="GarrettMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_GlobalPandemicMember" name="GlobalPandemicMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_GraftechMember" name="GraftechMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" name="GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" name="GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_GrowthRateMeasurementInputMember" name="GrowthRateMeasurementInputMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_GuaranteesUnderCreditInsuranceMember" name="GuaranteesUnderCreditInsuranceMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_HydrilCompanyAndSubsidiariesMember" name="HydrilCompanyAndSubsidiariesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_HydrilMember" name="HydrilMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_HydrillAcquisitionMember" name="HydrillAcquisitionMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_HydrocarbonProcessingAndPowerGenerationMember" name="HydrocarbonProcessingAndPowerGenerationMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies" name="ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ImpairmentOfAssetsMember" name="ImpairmentOfAssetsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies" name="IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_IncomeTaxAccrualsLessPaymentsAbstract" name="IncomeTaxAccrualsLessPaymentsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_IncomeTaxesAccrued" name="IncomeTaxesAccrued" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" name="IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions" name="IncreaseDecreaseAdditionalAllowancesOtherProvisions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions" name="IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances" name="IncreaseDecreaseThroughReversalsAndAdditionalAllowances" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_IncreaseInInventoryDueToBusinessCombinations" name="IncreaseInInventoryDueToBusinessCombinations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_IndustrialAndOtherMember" name="IndustrialAndOtherMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" name="IndustrialBuildingsPlantAndProductionEquipmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_InformationSystemProjectsMember" name="InformationSystemProjectsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_InterestAccrualsLessPaymentsNetAbstract" name="InterestAccrualsLessPaymentsNetAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_InterestInAssociateSharesOwned" name="InterestInAssociateSharesOwned" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_InventoriesAllowanceForObsolescence" name="InventoriesAllowanceForObsolescence" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_InventoriesGross" name="InventoriesGross" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_InventoriesIncludingDiscontinuedOperations" name="InventoriesIncludingDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" name="InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations" name="InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_InvestmentsRecognisedAsOfAcquisitionDate" name="InvestmentsRecognisedAsOfAcquisitionDate" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_JfeMember" name="JfeMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_KazakhstanPipeThreadersLimitedMember" name="KazakhstanPipeThreadersLimitedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_LandAndCivilBuildingsMember" name="LandAndCivilBuildingsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_LeaseLiabilitiesAdditions" name="LeaseLiabilitiesAdditions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_LeaseLiabilitiesCancellations" name="LeaseLiabilitiesCancellations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations" name="LeaseLiabilitiesIncreaseDueToBusinessCombinations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_LeaseLiabilitiesInterestAccrued" name="LeaseLiabilitiesInterestAccrued" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_LeaseLiabilitiesRepayments" name="LeaseLiabilitiesRepayments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_LeaseLiabilitiesTranslationDifferences" name="LeaseLiabilitiesTranslationDifferences" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_LeaseLiabilityEvolutionTextBlock" name="LeaseLiabilityEvolutionTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_LegalReservesMember" name="LegalReservesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_LetterOfCreditAndOtherBankGuaranteesMember" name="LetterOfCreditAndOtherBankGuaranteesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_LettersOfCreditCovered" name="LettersOfCreditCovered" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_LicensesPatentsAndTrademarksMember" name="LicensesPatentsAndTrademarksMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" name="LicensesPatentsTrademarksAndProprietaryTechnologyMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_LiquidFinancialAssetsPercentage" name="LiquidFinancialAssetsPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency" name="LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" name="LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ManagementViewDifferencesInCostOfSales" name="ManagementViewDifferencesInCostOfSales" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ManagementViewDifferencesInDepreciationAndAmortization" name="ManagementViewDifferencesInDepreciationAndAmortization" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet" name="ManagementViewDifferencesInOtherOperatingIncomeExpensesNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses" name="ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ManagementViewOperatingIncome" name="ManagementViewOperatingIncome" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ManufacturingCapacitySteelPipes" name="ManufacturingCapacitySteelPipes" nillable="true" substitutionGroup="xbrli:item" type="num:massItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_MasterDistributionAgreementTerm" name="MasterDistributionAgreementTerm" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_MasterDistributionAgreementTermAvailableExtension" name="MasterDistributionAgreementTermAvailableExtension" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_MatesiMaterialesSiderrgicosSaMember" name="MatesiMaterialesSiderrgicosSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_MaverickAcquisitionMember" name="MaverickAcquisitionMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_MaverickTubeCorporationAndSubsidiariesMember" name="MaverickTubeCorporationAndSubsidiariesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually" name="MaximumNumberOfTonsOfPelletsSuppliedAnnually" nillable="true" substitutionGroup="xbrli:item" type="num:massItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_MiddleEastAndAfricaMember" name="MiddleEastAndAfricaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_MovementInCashAndCashEquivalentsAbstract" name="MovementInCashAndCashEquivalentsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_NSSMCMember" name="NSSMCMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate" name="NationalizationOfSubsidiariesBasisSpreadOnVariableRate" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest" name="NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest" name="NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest" name="NationalizationOfSubsidiariesCompensationAwardPostawardInterest" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_NationalizationOfSubsidiariesPostawardInterestRate" name="NationalizationOfSubsidiariesPostawardInterestRate" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_NationalizationOfSubsidiariesPreawardInterest" name="NationalizationOfSubsidiariesPreawardInterest" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees" name="NationalizationOfSubsidiariesReimbursementOfLegalFees" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_NetAssetsSoldInDisposalCarryingAmount" name="NetAssetsSoldInDisposalCarryingAmount" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_NetCashPositionMember" name="NetCashPositionMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod" name="NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" name="NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_NetForeignExchangeTransactionResults" name="NetForeignExchangeTransactionResults" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_NkktubesMember" name="NkktubesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_NonUsGovernmentSecuritiesMember" name="NonUsGovernmentSecuritiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_NoncurrentAllowanceForReceivablesMember" name="NoncurrentAllowanceForReceivablesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" name="NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_NoncurrentCostsOfIssueOfDebt" name="NoncurrentCostsOfIssueOfDebt" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_NoncurrentPostemploymentBenefits" name="NoncurrentPostemploymentBenefits" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" name="NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" name="NoncurrentReceivablesEmployeeAdvancesAndLoans" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_NorthAmerica1Member" name="NorthAmerica1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_NoteToFinancialStatementDetailsTextual" name="NoteToFinancialStatementDetailsTextual" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_NotesToFinancialStatements" name="NotesToFinancialStatements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_NotesToFinancialStatementsAbstract" name="NotesToFinancialStatementsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_NucorSteelMemphisIncMember" name="NucorSteelMemphisIncMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_NumberOfMajorBusinessSegments" name="NumberOfMajorBusinessSegments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_NumberOfReportableOperatingSegments" name="NumberOfReportableOperatingSegments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_NumberOfSharesSubscribedTo" name="NumberOfSharesSubscribedTo" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_NumberOfVotesPerShare" name="NumberOfVotesPerShare" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OCTGUSAMember" name="OCTGUSAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OilAndGasMember" name="OilAndGasMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" name="OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" name="OnePercentChangeEuroUsDollarForeignExchangeRiskMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" name="OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets" name="OtherAssetsPercentContributedToFairValueOfPlanAssets" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_OtherAssetsRecognisedAsOfAcquisitionDate" name="OtherAssetsRecognisedAsOfAcquisitionDate" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_OtherBorrowingsMember" name="OtherBorrowingsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherCguMember" name="OtherCguMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" name="OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" name="OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherCurrencyMember" name="OtherCurrencyMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherCurrentMiscellaneousLiabilities" name="OtherCurrentMiscellaneousLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_OtherDerivativesMember" name="OtherDerivativesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherExpenseIncludingDiscontinuedOperations" name="OtherExpenseIncludingDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherFinancialIncomeCost" name="OtherFinancialIncomeCost" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherForeignExchangeResults" name="OtherForeignExchangeResults" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherGeographicalAreasMember" name="OtherGeographicalAreasMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherGuaranteesMember" name="OtherGuaranteesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherInvestments1Member" name="OtherInvestments1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherInvestmentsCurrentAbstract" name="OtherInvestmentsCurrentAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherInvestmentsNoncurrentAbstract" name="OtherInvestmentsNoncurrentAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" name="OtherLiabilitiesRecognisedAsOfAcquisitionDate" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_OtherMember" name="OtherMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherNoncurrentBenefits" name="OtherNoncurrentBenefits" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_OtherNoncurrentMiscellaneousLiabilities" name="OtherNoncurrentMiscellaneousLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_OtherNotesMember" name="OtherNotesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" name="OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherOperatingExpenseDiscontinuedOperations" name="OtherOperatingExpenseDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherOperatingExpensesAbstract" name="OtherOperatingExpensesAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" name="OtherOperatingExpensesAllowanceForDoubtfulReceivables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherOperatingIncomeAbstract" name="OtherOperatingIncomeAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherOperatingIncomeNetIncomeFromOtherSales" name="OtherOperatingIncomeNetIncomeFromOtherSales" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherOperatingIncomeNetRents" name="OtherOperatingIncomeNetRents" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" name="OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherReceivablesMember" name="OtherReceivablesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_OtherReceivablesNonfinancialMember" name="OtherReceivablesNonfinancialMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_OtherReceivablesRecognisedAsOfAcquisitionDate" name="OtherReceivablesRecognisedAsOfAcquisitionDate" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_OverfundedPlan" name="OverfundedPlan" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_PAOPSeverstalMember" name="PAOPSeverstalMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_PastDueMember" name="PastDueMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_PaymentsForSettlement" name="PaymentsForSettlement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_PercentOfAnnualIronOreNeedsSupplied" name="PercentOfAnnualIronOreNeedsSupplied" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_PercentOfCompanyVotingCapital" name="PercentOfCompanyVotingCapital" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_PerformanceGuaranteesIssued" name="PerformanceGuaranteesIssued" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_PlantAndProductionEquipmentMember" name="PlantAndProductionEquipmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_PraxairSAMember" name="PraxairSAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_PrevidenciaUsiminasMember" name="PrevidenciaUsiminasMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties" name="ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" name="ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" name="ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_PropertyPlantAndEquipmentCapitalizedInterest" name="PropertyPlantAndEquipmentCapitalizedInterest" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ProportionOfCorporateGuaranteeCoveringObligations" name="ProportionOfCorporateGuaranteeCoveringObligations" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements" name="ProvisionForExposureToPurchaseAndOtherServiceAgreements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates" name="ProvisionForExposureToThePurchaseOfCleanEnergyCertificates" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ProvisionForExposureToTransportationCapacityAgreements" name="ProvisionForExposureToTransportationCapacityAgreements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_ProvisionForNoncurrentLiabilitiesMember" name="ProvisionForNoncurrentLiabilitiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ProvisionsForCurrentLiabilitiesMember" name="ProvisionsForCurrentLiabilitiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_ProvisionsRecognisedAsOfAcquisitionDate" name="ProvisionsRecognisedAsOfAcquisitionDate" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_PrudentialSteelLtdMember" name="PrudentialSteelLtdMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_PtSeamlessPipeIndonesiaJayaMember" name="PtSeamlessPipeIndonesiaJayaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_PurchaseCommitments" name="PurchaseCommitments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions" name="PurchasesOfGoodsAndServicesRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" name="ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" name="ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ReceivablesAndPrepaymentsGovernmentEntities" name="ReceivablesAndPrepaymentsGovernmentEntities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" name="ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ReceivablesAndPrepaymentsGross" name="ReceivablesAndPrepaymentsGross" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ReceivablesAndPrepaymentsMiscellaneous" name="ReceivablesAndPrepaymentsMiscellaneous" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" name="ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" name="ReceivablesAndPrepaymentsReceivablesFromRelatedParties" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_ReceivablesFromInterestInVenezuelanCompanies" name="ReceivablesFromInterestInVenezuelanCompanies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage" name="RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage" name="RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage" name="RecognizedTaxLossesExpiringWithinOneYearPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses" name="ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_RemainingLeasePaymentsToBeMadePercentage" name="RemainingLeasePaymentsToBeMadePercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_RevenueRelatedPartyTransactions" name="RevenueRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsAccumulatedDepreciation" name="RightofuseAssetsAccumulatedDepreciation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions" name="RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications" name="RightofuseAssetsAccumulatedDepreciationTransfersReclassifications" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences" name="RightofuseAssetsAccumulatedDepreciationTranslationDifferences" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsCost" name="RightofuseAssetsCost" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_RightofuseAssetsCostAbstract" name="RightofuseAssetsCostAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsCostAdditions" name="RightofuseAssetsCostAdditions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsCostCurrencyTranslationAdjustments" name="RightofuseAssetsCostCurrencyTranslationAdjustments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsCostDisposals" name="RightofuseAssetsCostDisposals" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations" name="RightofuseAssetsCostIncreaseDueToBusinessCombinations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsCostTransfers" name="RightofuseAssetsCostTransfers" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_RightofuseAssetsDepreciationAbstract" name="RightofuseAssetsDepreciationAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_RightofuseAssetsEvolutionTextBlock" name="RightofuseAssetsEvolutionTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_SalesRisksMember" name="SalesRisksMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_SanFaustinSaMember" name="SanFaustinSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_SaudiArabianRiyalUsDollarExchangeRiskMember" name="SaudiArabianRiyalUsDollarExchangeRiskMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_SaudiSteelPipeCompanyMember" name="SaudiSteelPipeCompanyMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ScSilcotubSaMember" name="ScSilcotubSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_SegmentRevenuesByMarketExplanatory" name="SegmentRevenuesByMarketExplanatory" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" name="SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" name="SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" name="SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" name="SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" name="SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations" name="SellingGeneralAndAdministrativeExpensesDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" name="SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesLaborCost" name="SellingGeneralAndAdministrativeExpensesLaborCost" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesOther" name="SellingGeneralAndAdministrativeExpensesOther" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" name="SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" name="SellingGeneralAndAdministrativeExpensesServicesAndFees" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SellingGeneralAndAdministrativeExpensesTaxes" name="SellingGeneralAndAdministrativeExpensesTaxes" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SettlementAmountOrderedToPay" name="SettlementAmountOrderedToPay" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_SettlementAmountOrderedToPayDamages" name="SettlementAmountOrderedToPayDamages" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="ts_SettlementAmountOrderedToPayInsuranceDeductible" name="SettlementAmountOrderedToPayInsuranceDeductible" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_SeveralBanksToRefinanceObligationsMember" name="SeveralBanksToRefinanceObligationsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" name="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="ts_SharesBoundToSHA" name="SharesBoundToSHA" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_SharesSubscribedToPricePerShare" name="SharesSubscribedToPricePerShare" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_SharesSubscribedToValue" name="SharesSubscribedToValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_SiatSociedadAnonimaMember" name="SiatSociedadAnonimaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_SidercaHydrilAndOtherMember" name="SidercaHydrilAndOtherMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_SidercaSaicAndSubsidiariesMember" name="SidercaSaicAndSubsidiariesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_SignificantBorrowingsAsOfClosingDateMember" name="SignificantBorrowingsAsOfClosingDateMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_SouthAmerica1Member" name="SouthAmerica1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_SparePartsAndEquipmentMember" name="SparePartsAndEquipmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_StatementLineItems" name="StatementLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_StatementTable" name="StatementTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_StructuredNotesMember" name="StructuredNotesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TTGroupMember" name="TTGroupMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_TagalongTenderOfferToNoncontrollingInterests" name="TagalongTenderOfferToNoncontrollingInterests" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability" name="TagalongTenderOfferToNoncontrollingInterestsContingentLiability" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage" name="TagalongTenderOfferToNoncontrollingInterestsPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_TagalongTenderOfferToNoncontrollingInterestsShares" name="TagalongTenderOfferToNoncontrollingInterestsShares" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" name="TaltatradingEMarketingSociedadeUnipessoalLdaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TamsaHydrilAndOtherMember" name="TamsaHydrilAndOtherMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TavsaAndComsiguaMember" name="TavsaAndComsiguaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" name="TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" name="TaxContingentLiabilityRelatedToFiscalYear2014Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" name="TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" name="TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" name="TaxContingentLiabilityRelatedToFiscalYear2015Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" name="TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" name="TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations" name="TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TechgenSAMember" name="TechgenSAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" name="TechnicalDrillingProductionServicesNigeriaLtdMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TecpetrolInternationalSAMember" name="TecpetrolInternationalSAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisBayCityIncMember" name="TenarisBayCityIncMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisConnectionsBvMember" name="TenarisConnectionsBvMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisFinancialServicesSaMember" name="TenarisFinancialServicesSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisGlobalServicesCanadaIncMember" name="TenarisGlobalServicesCanadaIncMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisGlobalServicesSaAndSubsidiariesMember" name="TenarisGlobalServicesSaAndSubsidiariesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisGlobalServicesUkLtdMember" name="TenarisGlobalServicesUkLtdMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisGlobalServicesUsaCorporationMember" name="TenarisGlobalServicesUsaCorporationMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisInvestmentsNLBVMember" name="TenarisInvestmentsNLBVMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisInvestmentsSrlMember" name="TenarisInvestmentsSrlMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" name="TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisMember" name="TenarisMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisSupplyChainSAMember" name="TenarisSupplyChainSAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TenarisTubocaribeLtdaMember" name="TenarisTubocaribeLtdaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_TermOfSupplyContract" name="TermOfSupplyContract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TerniumAndUsiminasMember" name="TerniumAndUsiminasMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TerniumEntititesMember" name="TerniumEntititesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TerniumSAMember" name="TerniumSAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TheNewSHAMember" name="TheNewSHAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_TotalAssetsAndLiabilitiesAcquired" name="TotalAssetsAndLiabilitiesAcquired" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" name="TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" name="TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_TrademarksMember" name="TrademarksMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations" name="TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TransportadoraDeGasDelNorteSaMember" name="TransportadoraDeGasDelNorteSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay" name="TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay" nillable="true" substitutionGroup="xbrli:item" type="xbrli:pureItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_TribunalDeContasDaUniaoMember" name="TribunalDeContasDaUniaoMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TubesMember" name="TubesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TubosDeAceroDeMexicoSaMember" name="TubosDeAceroDeMexicoSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TubularServicesAngolaLdaMember" name="TubularServicesAngolaLdaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_TubularTechnicalServicesAndPipeCoatersMember" name="TubularTechnicalServicesAndPipeCoatersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_UnallocatedRegionMember" name="UnallocatedRegionMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" name="UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_UnfundedPostemploymentBenefitsMember" name="UnfundedPostemploymentBenefitsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_UnitsIssuedRelatedPartyTransactions" name="UnitsIssuedRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears" name="UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear" name="UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears" name="UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_UsGovernmentSecuritiesMember" name="UsGovernmentSecuritiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_UsefulLivesPropertyPlantAndEquipment" name="UsefulLivesPropertyPlantAndEquipment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_UsiminasMember" name="UsiminasMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_ValeInternationalSAMember" name="ValeInternationalSAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" name="VehiclesFurnitureAndFixturesAndOtherEquipmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_VehiclesFurnitureAndFixturesMember" name="VehiclesFurnitureAndFixturesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_VeracelCeluloseSaMember" name="VeracelCeluloseSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_WeldedPipePlantInWestSiberiaMember" name="WeldedPipePlantInWestSiberiaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" name="WorkingCapitalRecognisedAsOfAcquisitionDate" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="ts_statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" name="statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" name="statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" name="statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" name="statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" name="statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" name="statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-ii-accounting-policies-tables" name="statement-statement-ii-accounting-policies-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-iii-financial-risk-management-tables" name="statement-statement-iii-financial-risk-management-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-1-segment-information-geographical-information-details" name="statement-statement-note-1-segment-information-geographical-information-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-1-segment-information-reportable-operating-segments-details" name="statement-statement-note-1-segment-information-reportable-operating-segments-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-1-segment-information-tables" name="statement-statement-note-1-segment-information-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details" name="statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" name="statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" name="statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-10-intangible-assets-net-tables" name="statement-statement-note-10-intangible-assets-net-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" name="statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" name="statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" name="statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" name="statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" name="statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" name="statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-tables" name="statement-statement-note-12-investments-in-nonconsolidated-companies-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details" name="statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-13-receivables-non-current-tables" name="statement-statement-note-13-receivables-non-current-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-14-inventories-net-components-of-inventories-details" name="statement-statement-note-14-inventories-net-components-of-inventories-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-14-inventories-net-tables" name="statement-statement-note-14-inventories-net-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" name="statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-15-receivables-and-prepayments-net-tables" name="statement-statement-note-15-receivables-and-prepayments-net-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" name="statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" name="statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-16-current-tax-assets-and-liabilities-tables" name="statement-statement-note-16-current-tax-assets-and-liabilities-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" name="statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" name="statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-17-trade-receivables-net-tables" name="statement-statement-note-17-trade-receivables-net-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" name="statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" name="statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details" name="statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-19-borrowings-borrowings-evolution-details" name="statement-statement-note-19-borrowings-borrowings-evolution-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-19-borrowings-maturity-of-borrowings-details" name="statement-statement-note-19-borrowings-maturity-of-borrowings-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details" name="statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" name="statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-19-borrowings-tables" name="statement-statement-note-19-borrowings-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" name="statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details" name="statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-2-cost-of-sales-tables" name="statement-statement-note-2-cost-of-sales-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" name="statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" name="statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" name="statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-20-deferred-income-tax-tables" name="statement-statement-note-20-deferred-income-tax-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-21-other-liabilities-actuarial-assumptions-details" name="statement-statement-note-21-other-liabilities-actuarial-assumptions-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-21-other-liabilities-other-current-liabilities-details" name="statement-statement-note-21-other-liabilities-other-current-liabilities-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details" name="statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-21-other-liabilities-plan-assets-details" name="statement-statement-note-21-other-liabilities-plan-assets-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-21-other-liabilities-postemployment-benefits-details" name="statement-statement-note-21-other-liabilities-postemployment-benefits-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-21-other-liabilities-tables" name="statement-statement-note-21-other-liabilities-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" name="statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" name="statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-tables" name="statement-statement-note-22-noncurrent-allowances-and-provisions-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" name="statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-23-current-allowances-and-provisions-liabilities-details" name="statement-statement-note-23-current-allowances-and-provisions-liabilities-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-23-current-allowances-and-provisions-tables" name="statement-statement-note-23-current-allowances-and-provisions-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" name="statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" name="statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-24-derivative-financial-instruments-net-fair-values-details" name="statement-statement-note-24-derivative-financial-instruments-net-fair-values-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-24-derivative-financial-instruments-tables" name="statement-statement-note-24-derivative-financial-instruments-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details" name="statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-27-business-combinations-tables" name="statement-statement-note-27-business-combinations-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" name="statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-28-cash-flow-disclosures-tables" name="statement-statement-note-28-cash-flow-disclosures-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" name="statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" name="statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-29-discontinued-operations-discontinued-operations-details" name="statement-statement-note-29-discontinued-operations-discontinued-operations-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-29-discontinued-operations-tables" name="statement-statement-note-29-discontinued-operations-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" name="statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-3-selling-general-and-administrative-expenses-tables" name="statement-statement-note-3-selling-general-and-administrative-expenses-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-30-related-party-transactions-tables" name="statement-statement-note-30-related-party-transactions-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" name="statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" name="statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" name="statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" name="statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-32-principal-subsidiaries-tables" name="statement-statement-note-32-principal-subsidiaries-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" name="statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-36-update-as-of-april-29-2020-tables" name="statement-statement-note-36-update-as-of-april-29-2020-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" name="statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" name="statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" name="statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" name="statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-5-other-operating-income-and-expenses-tables" name="statement-statement-note-5-other-operating-income-and-expenses-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-6-financial-results-financial-income-cost-details" name="statement-statement-note-6-financial-results-financial-income-cost-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-6-financial-results-tables" name="statement-statement-note-6-financial-results-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" name="statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" name="statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-7-income-tax-tables" name="statement-statement-note-7-income-tax-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" name="statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-note-9-property-plant-and-equipment-net-tables" name="statement-statement-note-9-property-plant-and-equipment-net-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="ts_statement-statement-significant-accounting-policies-policies" name="statement-statement-significant-accounting-policies-policies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>11
<FILENAME>ts-20191231_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome XBRL - 02:20AM UTC 2020-04-30--><link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:label="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:to="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:to="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RightofuseAssets" xlink:label="ifrs-full_RightofuseAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciation" xlink:label="ts_RightofuseAssetsAccumulatedDepreciation" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCost" xlink:label="ts_RightofuseAssetsCost" xlink:type="locator"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ts_RightofuseAssetsAccumulatedDepreciation" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ts_RightofuseAssetsCost" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:href="ts-20191231.xsd#statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:label="ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:label="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="7" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement--consolidated-income-statement" xlink:href="ts-20191231.xsd#statement--consolidated-income-statement" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement--consolidated-income-statement" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherFinanceIncomeCost" xlink:label="ifrs-full_OtherFinanceIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromContinuingOperations" xlink:label="ifrs-full_ProfitLossFromContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_CostOfSales" xlink:type="arc"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_OtherIncome" xlink:type="arc"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_OtherExpenseByFunction" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_GrossProfit" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:to="ifrs-full_FinanceIncome" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:to="ifrs-full_FinanceCosts" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:to="ifrs-full_OtherFinanceIncomeCost" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:to="ifrs-full_ProfitLossFromOperatingActivities" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossFromContinuingOperations" xlink:to="ifrs-full_ProfitLossBeforeTax" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossFromContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLossFromContinuingOperations" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-cash-flows" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-cash-flows" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-cash-flows" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="ifrs-full_AdjustmentsForProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense" xlink:label="ifrs-full_InterestRevenueExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherAdjustmentsForNoncashItems" xlink:label="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfInterestsInAssociates" xlink:label="ifrs-full_PurchaseOfInterestsInAssociates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="locator"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_ProfitLoss" xlink:type="arc"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_InterestRevenueExpense" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:type="arc"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:type="arc"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForProvisions" xlink:type="arc"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="arc"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_PurchaseOfInterestsInAssociates" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="arc"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:type="arc"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:type="arc"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="arc"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:type="arc"/>
    <link:calculationArc order="8" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="arc"/>
    <link:calculationArc order="9" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="arc"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="arc"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:href="ts-20191231.xsd#statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BalancesWithBanks" xlink:label="ifrs-full_BalancesWithBanks" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_BalancesWithBanks" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-comprehensive-income" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-comprehensive-income" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-comprehensive-income" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ComprehensiveIncomeFromContinuingOperations" xlink:label="ts_ComprehensiveIncomeFromContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:label="ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:type="arc"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:type="arc"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ProfitLoss" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ts_ComprehensiveIncomeFromContinuingOperations" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:href="ts-20191231.xsd#statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentPrepayments" xlink:label="ifrs-full_NoncurrentPrepayments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentReceivables" xlink:label="ifrs-full_OtherNoncurrentReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:label="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:label="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:label="ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:label="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:to="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:to="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:to="ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:to="ifrs-full_NoncurrentPrepayments" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:to="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:type="arc"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="arc"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:to="ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:type="arc"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:to="ifrs-full_OtherNoncurrentReceivables" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-components-of-inventories-details" xlink:href="ts-20191231.xsd#statement-note-14-inventories-net-components-of-inventories-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-components-of-inventories-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInventoriesInTransit" xlink:label="ifrs-full_CurrentInventoriesInTransit" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinishedGoods" xlink:label="ifrs-full_FinishedGoods" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductionSupplies" xlink:label="ifrs-full_ProductionSupplies" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RawMaterials" xlink:label="ifrs-full_RawMaterials" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WorkInProgress" xlink:label="ifrs-full_WorkInProgress" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesAllowanceForObsolescence" xlink:label="ts_InventoriesAllowanceForObsolescence" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesGross" xlink:label="ts_InventoriesGross" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_InventoriesGross" xlink:to="ifrs-full_FinishedGoods" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_InventoriesGross" xlink:to="ifrs-full_WorkInProgress" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_InventoriesGross" xlink:to="ifrs-full_RawMaterials" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_InventoriesGross" xlink:to="ifrs-full_ProductionSupplies" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_InventoriesGross" xlink:to="ifrs-full_CurrentInventoriesInTransit" xlink:type="arc"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Inventories" xlink:to="ts_InventoriesAllowanceForObsolescence" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Inventories" xlink:to="ts_InventoriesGross" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:href="ts-20191231.xsd#statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForOtherDoubtfulAccounts" xlink:label="ts_AllowanceForOtherDoubtfulAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:label="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:label="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:label="ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:label="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGross" xlink:label="ts_ReceivablesAndPrepaymentsGross" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:label="ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:label="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:label="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_ReceivablesAndPrepaymentsGross" xlink:to="ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_ReceivablesAndPrepaymentsGross" xlink:to="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_ReceivablesAndPrepaymentsGross" xlink:to="ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_ReceivablesAndPrepaymentsGross" xlink:to="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_ReceivablesAndPrepaymentsGross" xlink:to="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:type="arc"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_ReceivablesAndPrepaymentsGross" xlink:to="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:type="arc"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_ReceivablesAndPrepaymentsGross" xlink:to="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="ts_ReceivablesAndPrepaymentsGross" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="ts_AllowanceForOtherDoubtfulAccounts" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentValueAddedTaxReceivables" xlink:label="ifrs-full_CurrentValueAddedTaxReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentPrepaidTaxes" xlink:label="ts_CurrentPrepaidTaxes" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentTaxAssetsCurrent" xlink:to="ifrs-full_CurrentValueAddedTaxReceivables" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentTaxAssetsCurrent" xlink:to="ts_CurrentPrepaidTaxes" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentValueAddedTaxPayables" xlink:label="ifrs-full_CurrentValueAddedTaxPayables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentIncomeTaxLiabilities" xlink:label="ts_CurrentIncomeTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentOtherTaxLiabilities" xlink:label="ts_CurrentOtherTaxLiabilities" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ts_CurrentIncomeTaxLiabilities" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ifrs-full_CurrentValueAddedTaxPayables" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ts_CurrentOtherTaxLiabilities" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-maturity-of-borrowings-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-maturity-of-borrowings-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-maturity-of-borrowings-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestPayable" xlink:label="ifrs-full_InterestPayable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BorrowingsIncludingInterestToBeAccrued" xlink:label="ts_BorrowingsIncludingInterestToBeAccrued" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_BorrowingsIncludingInterestToBeAccrued" xlink:to="ifrs-full_InterestPayable" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_BorrowingsIncludingInterestToBeAccrued" xlink:to="ifrs-full_Borrowings" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxAssets" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilities" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentPostemploymentBenefits" xlink:label="ts_NoncurrentPostemploymentBenefits" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNoncurrentBenefits" xlink:label="ts_OtherNoncurrentBenefits" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNoncurrentMiscellaneousLiabilities" xlink:label="ts_OtherNoncurrentMiscellaneousLiabilities" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherNoncurrentLiabilities" xlink:to="ts_NoncurrentPostemploymentBenefits" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherNoncurrentLiabilities" xlink:to="ts_OtherNoncurrentBenefits" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherNoncurrentLiabilities" xlink:to="ts_OtherNoncurrentMiscellaneousLiabilities" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-postemployment-benefits-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-postemployment-benefits-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-postemployment-benefits-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PlanAssetsAtFairValue" xlink:label="ifrs-full_PlanAssetsAtFairValue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SurplusDeficitInPlan" xlink:label="ifrs-full_SurplusDeficitInPlan" xlink:type="locator"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_SurplusDeficitInPlan" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_SurplusDeficitInPlan" xlink:to="ifrs-full_PlanAssetsAtFairValue" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-current-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-other-current-liabilities-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-current-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCurrentLiabilities" xlink:label="ifrs-full_OtherCurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentEmployeeRelatedLiabilities" xlink:label="ts_CurrentEmployeeRelatedLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCurrentMiscellaneousLiabilities" xlink:label="ts_OtherCurrentMiscellaneousLiabilities" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherCurrentLiabilities" xlink:to="ts_CurrentEmployeeRelatedLiabilities" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherCurrentLiabilities" xlink:to="ts_OtherCurrentMiscellaneousLiabilities" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="ifrs-full_DerivativeFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialLiabilities" xlink:label="ifrs-full_DerivativeFinancialLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativeFinancialAssetsLiabilities" xlink:label="ts_DerivativeFinancialAssetsLiabilities" xlink:type="locator"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_DerivativeFinancialAssetsLiabilities" xlink:to="ifrs-full_DerivativeFinancialLiabilities" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_DerivativeFinancialAssetsLiabilities" xlink:to="ifrs-full_DerivativeFinancialAssets" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:href="ts-20191231.xsd#statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:label="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:label="ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:label="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:to="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:to="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-discontinued-operations-details" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-discontinued-operations-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-discontinued-operations-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:href="ts-20191231.xsd#statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemuneration" xlink:label="ifrs-full_AuditorsRemuneration" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForAuditServices" xlink:label="ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForOtherServices" xlink:label="ifrs-full_AuditorsRemunerationForOtherServices" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForTaxServices" xlink:label="ifrs-full_AuditorsRemunerationForTaxServices" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AuditorsRemunerationForAuditrelatedFees" xlink:label="ts_AuditorsRemunerationForAuditrelatedFees" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_AuditorsRemuneration" xlink:to="ifrs-full_AuditorsRemunerationForTaxServices" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_AuditorsRemuneration" xlink:to="ifrs-full_AuditorsRemunerationForOtherServices" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_AuditorsRemuneration" xlink:to="ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_AuditorsRemuneration" xlink:to="ts_AuditorsRemunerationForAuditrelatedFees" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:href="ts-20191231.xsd#statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense" xlink:label="ifrs-full_InterestRevenueExpense" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:label="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:label="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:label="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:type="locator"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:type="arc"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:type="arc"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:type="arc"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="arc"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:to="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:to="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="arc"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_InterestRevenueExpense" xlink:to="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_InterestRevenueExpense" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_InterestRevenueExpense" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:href="ts-20191231.xsd#statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:label="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MiscellaneousOtherOperatingIncome" xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherExpenseIncludingDiscontinuedOperations" xlink:label="ts_OtherExpenseIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:label="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:label="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:label="ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeNetRents" xlink:label="ts_OtherOperatingIncomeNetRents" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:label="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherIncome" xlink:to="ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherIncome" xlink:to="ts_OtherOperatingIncomeNetRents" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherIncome" xlink:to="ifrs-full_MiscellaneousOtherOperatingIncome" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherIncome" xlink:to="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_OtherExpenseIncludingDiscontinuedOperations" xlink:to="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_OtherExpenseIncludingDiscontinuedOperations" xlink:to="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_OtherExpenseIncludingDiscontinuedOperations" xlink:to="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:href="ts-20191231.xsd#statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:type="extended">
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesAllowanceForObsolescence" xlink:label="ts_CostOfSalesAllowanceForObsolescence" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:label="ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:label="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesIncludingDiscontinuedOperations" xlink:label="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesLaborCost" xlink:label="ts_CostOfSalesLaborCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesMaintenanceExpenses" xlink:label="ts_CostOfSalesMaintenanceExpenses" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesOther" xlink:label="ts_CostOfSalesOther" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:label="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesServicesAndFees" xlink:label="ts_CostOfSalesServicesAndFees" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesTaxes" xlink:label="ts_CostOfSalesTaxes" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:label="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseInInventoryDueToBusinessCombinations" xlink:label="ts_IncreaseInInventoryDueToBusinessCombinations" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesMaintenanceExpenses" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesServicesAndFees" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesAllowanceForObsolescence" xlink:type="arc"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesLaborCost" xlink:type="arc"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesTaxes" xlink:type="arc"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesOther" xlink:type="arc"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_IncreaseInInventoryDueToBusinessCombinations" xlink:type="arc"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:href="ts-20191231.xsd#statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:type="extended">
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:label="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:label="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:label="ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesOther" xlink:label="ts_SellingGeneralAndAdministrativeExpensesOther" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:label="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:label="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:label="ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:type="arc"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:type="arc"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesOther" xlink:type="arc"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:type="arc"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:type="arc"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:href="ts-20191231.xsd#statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherLongtermBenefits" xlink:label="ifrs-full_OtherLongtermBenefits" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:label="ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TerminationBenefitsExpense" xlink:label="ifrs-full_TerminationBenefitsExpense" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:label="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:to="ifrs-full_OtherLongtermBenefits" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:to="ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:to="ifrs-full_TerminationBenefitsExpense" xlink:type="arc"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:type="arc"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-financial-income-cost-details" xlink:href="ts-20191231.xsd#statement-note-6-financial-results-financial-income-cost-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-financial-income-cost-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncomeCost" xlink:label="ifrs-full_FinanceIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromInterest" xlink:label="ifrs-full_RevenueFromInterest" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceIncomeCostContinuingOperations" xlink:label="ts_FinanceIncomeCostContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceIncomeCostDiscontinuedOperations" xlink:label="ts_FinanceIncomeCostDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsResults" xlink:label="ts_ForeignExchangeDerivativesContractsResults" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:label="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetForeignExchangeTransactionResults" xlink:label="ts_NetForeignExchangeTransactionResults" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherFinancialIncomeCost" xlink:label="ts_OtherFinancialIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherForeignExchangeResults" xlink:label="ts_OtherForeignExchangeResults" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_RevenueFromInterest" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_FinanceIncome" xlink:to="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_OtherFinancialIncomeCost" xlink:to="ts_ForeignExchangeDerivativesContractsResults" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_OtherFinancialIncomeCost" xlink:to="ts_OtherForeignExchangeResults" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_OtherFinancialIncomeCost" xlink:to="ts_NetForeignExchangeTransactionResults" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_FinanceIncomeCostContinuingOperations" xlink:to="ts_OtherFinancialIncomeCost" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_FinanceIncomeCostContinuingOperations" xlink:to="ifrs-full_FinanceIncome" xlink:type="arc"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_FinanceIncomeCostContinuingOperations" xlink:to="ifrs-full_FinanceCosts" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ts_FinanceIncomeCostContinuingOperations" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ts_FinanceIncomeCostDiscontinuedOperations" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:href="ts-20191231.xsd#statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="ifrs-full_CurrentTaxExpenseIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="ifrs-full_DeferredTaxExpenseIncome" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxesAccrued" xlink:label="ts_IncomeTaxesAccrued" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_IncomeTaxesAccrued" xlink:to="ifrs-full_CurrentTaxExpenseIncome" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_IncomeTaxesAccrued" xlink:to="ifrs-full_DeferredTaxExpenseIncome" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:href="ts-20191231.xsd#statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:label="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGross" xlink:label="ts_CurrentTradeReceivablesGross" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGuaranteed" xlink:label="ts_CurrentTradeReceivablesGuaranteed" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:label="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNotGuaranteed" xlink:label="ts_CurrentTradeReceivablesNotGuaranteed" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CurrentTradeReceivablesGross" xlink:to="ts_CurrentTradeReceivablesGuaranteed" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_CurrentTradeReceivablesGross" xlink:to="ts_CurrentTradeReceivablesNotGuaranteed" xlink:type="arc"/>
    <link:calculationArc order="0" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:type="arc"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:type="arc"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ts_CurrentTradeReceivablesGross" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_LongtermBorrowings" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:href="ts-20191231.xsd#statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:type="extended">
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:label="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinancialDebtRelatedParties" xlink:label="ts_FinancialDebtRelatedParties" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ts_FinancialDebtRelatedParties" xlink:to="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-financial-position" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-financial-position" xlink:type="simple"/>
  <link:calculationLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-financial-position" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_CurrentAssets" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_NoncurrentAssets" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_NoncontrollingInterests" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_NoncurrentLiabilities" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_CurrentLiabilities" xlink:type="arc"/>
    <link:calculationArc order="0" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_Equity" xlink:type="arc"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_Liabilities" xlink:type="arc"/>
  </link:calculationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>12
<FILENAME>ts-20191231_def.xml
<DESCRIPTION>XBRL DEFINITION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome XBRL - 02:20AM UTC 2020-04-30--><link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" xlink:type="simple"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" xlink:type="simple"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" xlink:type="simple"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" xlink:type="simple"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" xlink:type="simple"/>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-34-delisting-of-tenariss-shares-from-the-buenos-aires-stock-exchange" xlink:href="ts-20191231.xsd#statement-note-34-delisting-of-tenariss-shares-from-the-buenos-aires-stock-exchange" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-34-delisting-of-tenariss-shares-from-the-buenos-aires-stock-exchange" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DelistingOfSharesFromStockExchangeExplanatory" xlink:label="ts_DelistingOfSharesFromStockExchangeExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DelistingOfSharesFromStockExchangeExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant" xlink:href="ts-20191231.xsd#statement-note-31-fees-paid-to-the-companys-principal-accountant" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:label="ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures" xlink:href="ts-20191231.xsd#statement-note-28-cash-flow-disclosures" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:label="ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions" xlink:href="ts-20191231.xsd#statement-note-23-current-allowances-and-provisions" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" xlink:label="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions" xlink:href="ts-20191231.xsd#statement-note-22-noncurrent-allowances-and-provisions" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" xlink:label="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings" xlink:href="ts-20191231.xsd#statement-note-19-borrowings" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments" xlink:href="ts-20191231.xsd#statement-note-18-cash-and-cash-equivalents-and-other-investments" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:label="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net" xlink:href="ts-20191231.xsd#statement-note-17-trade-receivables-net" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory" xlink:label="ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net" xlink:href="ts-20191231.xsd#statement-note-15-receivables-and-prepayments-net" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" xlink:label="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses" xlink:href="ts-20191231.xsd#statement-note-5-other-operating-income-and-expenses" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net" xlink:href="ts-20191231.xsd#statement-note-14-inventories-net" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInventoriesExplanatory" xlink:label="ifrs-full_DisclosureOfInventoriesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfInventoriesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current" xlink:href="ts-20191231.xsd#statement-note-13-receivables-non-current" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfNoncurrentReceivablesTextBlock" xlink:label="ts_DisclosureOfNoncurrentReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfNoncurrentReceivablesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses" xlink:href="ts-20191231.xsd#statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses" xlink:href="ts-20191231.xsd#statement-note-3-selling-general-and-administrative-expenses" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales" xlink:href="ts-20191231.xsd#statement-note-2-cost-of-sales" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfCostOfSalesExplanatory" xlink:label="ifrs-full_DisclosureOfCostOfSalesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfCostOfSalesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-i-general-information" xlink:href="ts-20191231.xsd#statement-i-general-information" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-i-general-information" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-document-and-entity-information" xlink:href="ts-20191231.xsd#statement-document-and-entity-information" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-document-and-entity-information" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xlink:type="locator"/>
	<link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" xlink:type="locator"/>
	<link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" xlink:type="locator"/>
	<link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="dei_DocumentInformationTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityRegistrantName" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCentralIndexKey" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_TradingSymbol" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_CurrentFiscalYearEndDate" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityFilerCategory" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCurrentReportingStatus" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityVoluntaryFilers" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityWellKnownSeasonedIssuer" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityEmergingGrowthCompany" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityInteractiveDataCurrent" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCommonStockSharesOutstanding" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityShellCompany" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentType" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentPeriodEndDate" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalYearFocus" xlink:type="arc"/>
    <link:definitionArc order="17" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalPeriodFocus" xlink:type="arc"/>
    <link:definitionArc order="18" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_AmendmentFlag" xlink:type="arc"/>
    <link:definitionArc order="19" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_Security12bTitle" xlink:type="arc"/>
	<link:definitionArc order="30" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentAnnualReport" xlink:type="arc"/>
	<link:definitionArc order="31" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentTransitionReport" xlink:type="arc"/>
	<link:definitionArc order="32" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentShellCompanyReport" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity-parentheticals" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-changes-in-equity-parentheticals" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity-parentheticals" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:label="ifrs-full_NumberOfSharesAuthorised" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesAuthorised" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ParValuePerShare" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesIssued" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies" xlink:href="ts-20191231.xsd#statement-ii-accounting-policies" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsAxis" xlink:label="ifrs-full_TypesOfContractsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsMember" xlink:label="ifrs-full_TypesOfContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsMember" xlink:label="ifrs-full_TypesOfContractsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Canada1Member" xlink:label="ts_Canada1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabMember" xlink:label="ts_ConfabMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrillAcquisitionMember" xlink:label="ts_HydrillAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InformationSystemProjectsMember" xlink:label="ts_InformationSystemProjectsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:label="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickAcquisitionMember" xlink:label="ts_MaverickAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NSSMCMember" xlink:label="ts_NSSMCMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OCTGUSAMember" xlink:label="ts_OCTGUSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PrevidenciaUsiminasMember" xlink:label="ts_PrevidenciaUsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TTGroupMember" xlink:label="ts_TTGroupMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TecpetrolInternationalSAMember" xlink:label="ts_TecpetrolInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisMember" xlink:label="ts_TenarisMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumEntititesMember" xlink:label="ts_TerniumEntititesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TheNewSHAMember" xlink:label="ts_TheNewSHAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TrademarksMember" xlink:label="ts_TrademarksMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:label="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ifrs-full_TypesOfContractsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_PreferenceSharesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_OrdinarySharesMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfContractsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfContractsMember" xlink:to="ts_TheNewSHAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ifrs-full_TypesOfContractsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TTGroupMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TerniumEntititesMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_ConfabMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_NSSMCMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_PrevidenciaUsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_JointVenturesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForJointVenturesMember" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember-default" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TecpetrolInternationalSAMember" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TenarisMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_TopOfRangeMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember-default" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ts_InformationSystemProjectsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ts_TrademarksMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_MaverickAcquisitionMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_HydrillAcquisitionMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_BottomOfRangeMember" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ts_OCTGUSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember-default" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_IT" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_Canada1Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management" xlink:href="ts-20191231.xsd#statement-iii-financial-risk-management" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialGuaranteeContractsMember" xlink:label="ifrs-full_FinancialGuaranteeContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:label="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CounterpartyRiskMember" xlink:label="ts_CounterpartyRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CustomerConcentrationRisk1Member" xlink:label="ts_CustomerConcentrationRisk1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsMember" xlink:label="ts_ForeignExchangeDerivativesContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GuaranteesUnderCreditInsuranceMember" xlink:label="ts_GuaranteesUnderCreditInsuranceMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:label="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherGuaranteesMember" xlink:label="ts_OtherGuaranteesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PastDueMember" xlink:label="ts_PastDueMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="srt_CurrencyAxis" xlink:to="currency_AllCurrenciesDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfRisksAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_HedgingInstrumentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeDerivativesContractsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfInterestRatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_FixedInterestRateMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_CustomerConcentrationRisk1Member" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ts_GuaranteesUnderCreditInsuranceMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ts_OtherGuaranteesMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_PastDueStatusAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PastDueStatusMember" xlink:to="ts_PastDueMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ifrs-full_FinancialGuaranteeContractsMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_CounterpartyRiskMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="srt_CurrencyAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="currency_AllCurrenciesDomain" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="srt_CurrencyAxis" xlink:to="currency_AllCurrenciesDomain-default" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information" xlink:href="ts-20191231.xsd#statement-note-1-segment-information" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:label="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GovernmentCustomersMember" xlink:label="ifrs-full_GovernmentCustomersMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersAxis" xlink:label="ifrs-full_TypesOfCustomersAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersMember" xlink:label="ifrs-full_TypesOfCustomersMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersMember" xlink:label="ifrs-full_TypesOfCustomersMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Argentina1Member" xlink:label="ts_Argentina1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisMember" xlink:label="ts_TenarisMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfCustomersAxis" xlink:to="ifrs-full_TypesOfCustomersMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:to="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_LU" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_Argentina1Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TenarisMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfCustomersAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfCustomersMember" xlink:to="ifrs-full_GovernmentCustomersMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfCustomersAxis" xlink:to="ifrs-full_TypesOfCustomersMember-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results" xlink:href="ts-20191231.xsd#statement-note-6-financial-results" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-6-financial-results" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsCategoryMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsCategoryMember" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsCategoryMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax" xlink:href="ts-20191231.xsd#statement-note-7-income-tax" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_AR" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution" xlink:href="ts-20191231.xsd#statement-note-8-dividends-distribution" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDividendsExplanatory" xlink:label="ifrs-full_DisclosureOfDividendsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDividendsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net" xlink:href="ts-20191231.xsd#statement-note-9-property-plant-and-equipment-net" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Europe1Member" xlink:label="ts_Europe1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MiddleEastAndAfricaMember" xlink:label="ts_MiddleEastAndAfricaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NorthAmerica1Member" xlink:label="ts_NorthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SouthAmerica1Member" xlink:label="ts_SouthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_NorthAmerica1Member" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_SouthAmerica1Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_Europe1Member" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_MiddleEastAndAfricaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfLeasesExplanatory" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_MaturityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_NotLaterThanOneYearMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfLeasesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:label="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SeveralBanksToRefinanceObligationsMember" xlink:label="ts_SeveralBanksToRefinanceObligationsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TecpetrolInternationalSAMember" xlink:label="ts_TecpetrolInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumAndUsiminasMember" xlink:label="ts_TerniumAndUsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TerniumAndUsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_OrdinarySharesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_PreferenceSharesMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ts_TecpetrolInternationalSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ts_SeveralBanksToRefinanceObligationsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember-default" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:label="ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsAxis" xlink:label="ifrs-full_ActuarialAssumptionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedPostemploymentBenefitsMember" xlink:label="ts_UnfundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_UnfundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ActuarialAssumptionsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ActuarialAssumptionsMember" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ActuarialAssumptionsMember" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits" xlink:href="ts-20191231.xsd#statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContingentLiabilitiesMember" xlink:label="ifrs-full_ContingentLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContingentLiabilitiesMember" xlink:label="ifrs-full_ContingentLiabilitiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:label="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxContingentLiabilityMember" xlink:label="ifrs-full_TaxContingentLiabilityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="srt_CounterpartyNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AirLiquideMexicoSDeRLDeCVMember" xlink:label="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CanadianNationalRailwayMember" xlink:label="ts_CanadianNationalRailwayMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ChubbMember" xlink:label="ts_ChubbMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CompanhiaSiderrgicaNacionalMember" xlink:label="ts_CompanhiaSiderrgicaNacionalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabMember" xlink:label="ts_ConfabMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DalmineSPAMember" xlink:label="ts_DalmineSPAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GraftechMember" xlink:label="ts_GraftechMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NucorSteelMemphisIncMember" xlink:label="ts_NucorSteelMemphisIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PraxairSAMember" xlink:label="ts_PraxairSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransportadoraDeGasDelNorteSaMember" xlink:label="ts_TransportadoraDeGasDelNorteSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TribunalDeContasDaUniaoMember" xlink:label="ts_TribunalDeContasDaUniaoMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ValeInternationalSAMember" xlink:label="ts_ValeInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VeracelCeluloseSaMember" xlink:label="ts_VeracelCeluloseSaMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_ContingentLiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="srt_CounterpartyNameAxis" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_CompanhiaSiderrgicaNacionalMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_ContingentLiabilitiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_ConfabMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="srt_CounterpartyNameAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="ts_ChubbMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="srt_CounterpartyNameAxis" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="ts_VeracelCeluloseSaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_TribunalDeContasDaUniaoMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ifrs-full_TaxContingentLiabilityMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_BR" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_DalmineSPAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_IT" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_TransportadoraDeGasDelNorteSaMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_PraxairSAMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_GraftechMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_ValeInternationalSAMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_CanadianNationalRailwayMember" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_NucorSteelMemphisIncMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia" xlink:href="ts-20191231.xsd#statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:label="ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PAOPSeverstalMember" xlink:label="ts_PAOPSeverstalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WeldedPipePlantInWestSiberiaMember" xlink:label="ts_WeldedPipePlantInWestSiberiaMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_JointVenturesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForJointVenturesMember" xlink:to="ts_WeldedPipePlantInWestSiberiaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_PAOPSeverstalMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations" xlink:href="ts-20191231.xsd#statement-note-27-business-combinations" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GarrettMember" xlink:label="ts_GarrettMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_GarrettMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:label="ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions" xlink:href="ts-20191231.xsd#statement-note-30-related-party-transactions" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SanFaustinSaMember" xlink:label="ts_SanFaustinSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ts_SanFaustinSaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries" xlink:href="ts-20191231.xsd#statement-note-32-principal-subsidiaries" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:label="ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmajaTubularServicesLimitedMember" xlink:label="ts_AmajaTubularServicesLimitedMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilCompanyAndSubsidiariesMember" xlink:label="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:label="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisSupplyChainSAMember" xlink:label="ts_TenarisSupplyChainSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularServicesAngolaLdaMember" xlink:label="ts_TubularServicesAngolaLdaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:label="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisSupplyChainSAMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_AmajaTubularServicesLimitedMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TubularServicesAngolaLdaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries" xlink:href="ts-20191231.xsd#statement-note-33-nationalization-of-venezuelan-subsidiaries" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_VE" xlink:label="country_VE" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" xlink:label="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MatesiMaterialesSiderrgicosSaMember" xlink:label="ts_MatesiMaterialesSiderrgicosSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TavsaAndComsiguaMember" xlink:label="ts_TavsaAndComsiguaMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_MatesiMaterialesSiderrgicosSaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="country_VE" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TavsaAndComsiguaMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events" xlink:href="ts-20191231.xsd#statement-note-35-subsequent-events" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020" xlink:href="ts-20191231.xsd#statement-note-36-update-as-of-april-29-2020" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" xlink:label="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GlobalPandemicMember" xlink:label="ts_GlobalPandemicMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ImpairmentOfAssetsMember" xlink:label="ts_ImpairmentOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_JfeMember" xlink:label="ts_JfeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetCashPositionMember" xlink:label="ts_NetCashPositionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NkktubesMember" xlink:label="ts_NkktubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ts_GlobalPandemicMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ts_NetCashPositionMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ts_ImpairmentOfAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_NkktubesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_JfeMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-significant-accounting-policies-policies" xlink:href="ts-20191231.xsd#statement-significant-accounting-policies-policies" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-significant-accounting-policies-policies" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" xlink:label="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" xlink:label="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:label="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:type="arc"/>
    <link:definitionArc order="17" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:type="arc"/>
    <link:definitionArc order="18" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:type="arc"/>
    <link:definitionArc order="19" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:type="arc"/>
    <link:definitionArc order="20" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:type="arc"/>
    <link:definitionArc order="21" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-tables" xlink:href="ts-20191231.xsd#statement-ii-accounting-policies-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-tables" xlink:href="ts-20191231.xsd#statement-iii-financial-risk-management-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:label="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tables" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:label="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SegmentRevenuesByMarketExplanatory" xlink:label="ts_SegmentRevenuesByMarketExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubesMember" xlink:label="ts_TubesMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_SegmentsMember" xlink:to="ts_TubesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SegmentRevenuesByMarketExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-tables" xlink:href="ts-20191231.xsd#statement-note-2-cost-of-sales-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-tables" xlink:href="ts-20191231.xsd#statement-note-3-selling-general-and-administrative-expenses-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:href="ts-20191231.xsd#statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" xlink:label="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-tables" xlink:href="ts-20191231.xsd#statement-note-5-other-operating-income-and-expenses-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-tables" xlink:href="ts-20191231.xsd#statement-note-6-financial-results-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-tables" xlink:href="ts-20191231.xsd#statement-note-7-income-tax-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" xlink:label="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-tables" xlink:href="ts-20191231.xsd#statement-note-9-property-plant-and-equipment-net-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-tables" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:label="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilityEvolutionTextBlock" xlink:label="ts_LeaseLiabilityEvolutionTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsEvolutionTextBlock" xlink:label="ts_RightofuseAssetsEvolutionTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_RightofuseAssetsEvolutionTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilityEvolutionTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-tables" xlink:href="ts-20191231.xsd#statement-note-13-receivables-non-current-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-tables" xlink:href="ts-20191231.xsd#statement-note-14-inventories-net-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-tables" xlink:href="ts-20191231.xsd#statement-note-15-receivables-and-prepayments-net-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-tables" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-tables" xlink:href="ts-20191231.xsd#statement-note-17-trade-receivables-net-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" xlink:label="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:href="ts-20191231.xsd#statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:label="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-tables" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfBorrowingsEvolutionTextBlock" xlink:label="ts_DisclosureOfBorrowingsEvolutionTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfBorrowingsEvolutionTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-tables" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxTextBlock" xlink:label="ts_DeferredTaxTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:label="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-tables" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:label="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfActuarialAssumptionsTextBlock" xlink:label="ts_DisclosureOfActuarialAssumptionsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfActuarialAssumptionsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:href="ts-20191231.xsd#statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-tables" xlink:href="ts-20191231.xsd#statement-note-23-current-allowances-and-provisions-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-tables" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" xlink:label="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-tables" xlink:href="ts-20191231.xsd#statement-note-27-business-combinations-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-tables" xlink:href="ts-20191231.xsd#statement-note-28-cash-flow-disclosures-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-tables" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory" xlink:label="ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" xlink:label="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" xlink:label="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-tables" xlink:href="ts-20191231.xsd#statement-note-30-related-party-transactions-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:href="ts-20191231.xsd#statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfAuditorsRemunerationTextBlock" xlink:label="ts_DisclosureOfAuditorsRemunerationTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfAuditorsRemunerationTextBlock" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-tables" xlink:href="ts-20191231.xsd#statement-note-32-principal-subsidiaries-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-tables" xlink:href="ts-20191231.xsd#statement-note-36-update-as-of-april-29-2020-tables" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-details-textual" xlink:href="ts-20191231.xsd#statement-ii-accounting-policies-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount" xlink:label="ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:label="ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:label="ifrs-full_NumberOfSharesAuthorised" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="ifrs-full_NumberOfSharesOutstanding" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019" xlink:label="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ResearchAndDevelopmentExpense" xlink:label="ifrs-full_ResearchAndDevelopmentExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsAxis" xlink:label="ifrs-full_TypesOfContractsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsMember" xlink:label="ifrs-full_TypesOfContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsMember" xlink:label="ifrs-full_TypesOfContractsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Canada1Member" xlink:label="ts_Canada1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CarryingValueOfUnitsGranted" xlink:label="ts_CarryingValueOfUnitsGranted" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabMember" xlink:label="ts_ConfabMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsCompanyRedemptionPeriod" xlink:label="ts_EmployeeBenefitsCompanyRedemptionPeriod" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsEarlyRedemptionPeriod" xlink:label="ts_EmployeeBenefitsEarlyRedemptionPeriod" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsUnitVestingPeriod" xlink:label="ts_EmployeeBenefitsUnitVestingPeriod" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinitelivedIntangibleAssetResidualUsefulLife" xlink:label="ts_FinitelivedIntangibleAssetResidualUsefulLife" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinitelivedIntangibleAssetResidualValue" xlink:label="ts_FinitelivedIntangibleAssetResidualValue" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinitelivedIntangibleAssetUsefulLife" xlink:label="ts_FinitelivedIntangibleAssetUsefulLife" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrillAcquisitionMember" xlink:label="ts_HydrillAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies" xlink:label="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InformationSystemProjectsMember" xlink:label="ts_InformationSystemProjectsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InterestInAssociateSharesOwned" xlink:label="ts_InterestInAssociateSharesOwned" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:label="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickAcquisitionMember" xlink:label="ts_MaverickAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NSSMCMember" xlink:label="ts_NSSMCMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod" xlink:label="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfMajorBusinessSegments" xlink:label="ts_NumberOfMajorBusinessSegments" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfReportableOperatingSegments" xlink:label="ts_NumberOfReportableOperatingSegments" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfSharesSubscribedTo" xlink:label="ts_NumberOfSharesSubscribedTo" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfVotesPerShare" xlink:label="ts_NumberOfVotesPerShare" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OCTGUSAMember" xlink:label="ts_OCTGUSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PercentOfCompanyVotingCapital" xlink:label="ts_PercentOfCompanyVotingCapital" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PrevidenciaUsiminasMember" xlink:label="ts_PrevidenciaUsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SharesBoundToSHA" xlink:label="ts_SharesBoundToSHA" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SharesSubscribedToPricePerShare" xlink:label="ts_SharesSubscribedToPricePerShare" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SharesSubscribedToValue" xlink:label="ts_SharesSubscribedToValue" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TTGroupMember" xlink:label="ts_TTGroupMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TecpetrolInternationalSAMember" xlink:label="ts_TecpetrolInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisMember" xlink:label="ts_TenarisMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumEntititesMember" xlink:label="ts_TerniumEntititesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TheNewSHAMember" xlink:label="ts_TheNewSHAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TrademarksMember" xlink:label="ts_TrademarksMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:label="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ifrs-full_TypesOfContractsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_PreferenceSharesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_OrdinarySharesMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfContractsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfContractsMember" xlink:to="ts_TheNewSHAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ifrs-full_TypesOfContractsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TTGroupMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TerniumEntititesMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_ConfabMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_NSSMCMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_PrevidenciaUsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_JointVenturesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForJointVenturesMember" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember-default" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TecpetrolInternationalSAMember" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TenarisMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_TopOfRangeMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember-default" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ts_InformationSystemProjectsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ts_TrademarksMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_MaverickAcquisitionMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_HydrillAcquisitionMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_BottomOfRangeMember" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ts_OCTGUSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember-default" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_IT" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_Canada1Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NumberOfSharesSubscribedTo" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SharesSubscribedToPricePerShare" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SharesSubscribedToValue" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_InterestInAssociateSharesOwned" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SharesBoundToSHA" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_PercentOfCompanyVotingCapital" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NumberOfMajorBusinessSegments" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NumberOfReportableOperatingSegments" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_FinitelivedIntangibleAssetUsefulLife" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ResearchAndDevelopmentExpense" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019" xlink:type="arc"/>
    <link:definitionArc order="17" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:type="arc"/>
    <link:definitionArc order="18" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_FinitelivedIntangibleAssetResidualValue" xlink:type="arc"/>
    <link:definitionArc order="19" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_FinitelivedIntangibleAssetResidualUsefulLife" xlink:type="arc"/>
    <link:definitionArc order="20" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:type="arc"/>
    <link:definitionArc order="21" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount" xlink:type="arc"/>
    <link:definitionArc order="22" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesAuthorised" xlink:type="arc"/>
    <link:definitionArc order="23" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ParValuePerShare" xlink:type="arc"/>
    <link:definitionArc order="24" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesIssued" xlink:type="arc"/>
    <link:definitionArc order="25" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesOutstanding" xlink:type="arc"/>
    <link:definitionArc order="26" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NumberOfVotesPerShare" xlink:type="arc"/>
    <link:definitionArc order="27" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:type="arc"/>
    <link:definitionArc order="28" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod" xlink:type="arc"/>
    <link:definitionArc order="29" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsUnitVestingPeriod" xlink:type="arc"/>
    <link:definitionArc order="30" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsCompanyRedemptionPeriod" xlink:type="arc"/>
    <link:definitionArc order="31" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsEarlyRedemptionPeriod" xlink:type="arc"/>
    <link:definitionArc order="32" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CarryingValueOfUnitsGranted" xlink:type="arc"/>
    <link:definitionArc order="33" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-details-textual" xlink:href="ts-20191231.xsd#statement-iii-financial-risk-management-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CreditExposure" xlink:label="ifrs-full_CreditExposure" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialGuaranteeContractsMember" xlink:label="ifrs-full_FinancialGuaranteeContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ifrs-full_ShorttermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:label="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConcentrationRiskPercentage" xlink:label="ts_ConcentrationRiskPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CounterpartyRiskMember" xlink:label="ts_CounterpartyRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CustomerConcentrationRisk1Member" xlink:label="ts_CustomerConcentrationRisk1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DebtToEquityRatio" xlink:label="ts_DebtToEquityRatio" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue" xlink:label="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsMember" xlink:label="ts_ForeignExchangeDerivativesContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeRiskCurrencyExposure" xlink:label="ts_ForeignExchangeRiskCurrencyExposure" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher" xlink:label="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GuaranteesUnderCreditInsuranceMember" xlink:label="ts_GuaranteesUnderCreditInsuranceMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:label="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LiquidFinancialAssetsPercentage" xlink:label="ts_LiquidFinancialAssetsPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency" xlink:label="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherGuaranteesMember" xlink:label="ts_OtherGuaranteesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PastDueMember" xlink:label="ts_PastDueMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="srt_CurrencyAxis" xlink:to="currency_AllCurrenciesDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfRisksAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_HedgingInstrumentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeDerivativesContractsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfInterestRatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_FixedInterestRateMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_CustomerConcentrationRisk1Member" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ts_GuaranteesUnderCreditInsuranceMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ts_OtherGuaranteesMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_PastDueStatusAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PastDueStatusMember" xlink:to="ts_PastDueMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ifrs-full_FinancialGuaranteeContractsMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_CounterpartyRiskMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="srt_CurrencyAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="currency_AllCurrenciesDomain" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="srt_CurrencyAxis" xlink:to="currency_AllCurrenciesDomain-default" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DebtToEquityRatio" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ForeignExchangeRiskCurrencyExposure" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ShorttermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CreditExposure" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ConcentrationRiskPercentage" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LiquidFinancialAssetsPercentage" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-details-textual" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContractLiabilities" xlink:label="ifrs-full_ContractLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:label="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GovernmentCustomersMember" xlink:label="ifrs-full_GovernmentCustomersMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentFinancialAssetsAvailableforsale" xlink:label="ifrs-full_NoncurrentFinancialAssetsAvailableforsale" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfEntitysRevenue" xlink:label="ifrs-full_PercentageOfEntitysRevenue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersAxis" xlink:label="ifrs-full_TypesOfCustomersAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersMember" xlink:label="ifrs-full_TypesOfCustomersMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersMember" xlink:label="ifrs-full_TypesOfCustomersMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Argentina1Member" xlink:label="ts_Argentina1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisMember" xlink:label="ts_TenarisMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfCustomersAxis" xlink:to="ifrs-full_TypesOfCustomersMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:to="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_LU" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_Argentina1Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TenarisMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfCustomersAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfCustomersMember" xlink:to="ifrs-full_GovernmentCustomersMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfCustomersAxis" xlink:to="ifrs-full_TypesOfCustomersMember-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossBeforeTax" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentFinancialAssetsAvailableforsale" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PercentageOfEntitysRevenue" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ContractLiabilities" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-details-textual" xlink:href="ts-20191231.xsd#statement-note-6-financial-results-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense" xlink:label="ifrs-full_InterestRevenueExpense" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsCategoryMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsCategoryMember" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsCategoryMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InterestRevenueExpense" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-details-textual" xlink:href="ts-20191231.xsd#statement-note-7-income-tax-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss" xlink:label="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations" xlink:label="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_AR" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution-details-textual" xlink:href="ts-20191231.xsd#statement-note-8-dividends-distribution-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaid" xlink:label="ifrs-full_DividendsPaid" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPaidPerADS" xlink:label="ts_DividendsPaidPerADS" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPayableAmountPerADS" xlink:label="ts_DividendsPayableAmountPerADS" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPayableAmountPerADSIncludingInterimDividend" xlink:label="ts_DividendsPayableAmountPerADSIncludingInterimDividend" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPayableAmountPerShareIncludingInterimDividend" xlink:label="ts_DividendsPayableAmountPerShareIncludingInterimDividend" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPayableAmountPerADS" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsPaid" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPayableAmountPerShareIncludingInterimDividend" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPayableAmountPerADSIncludingInterimDividend" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPaidPerADS" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-details-textual" xlink:href="ts-20191231.xsd#statement-note-9-property-plant-and-equipment-net-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PropertyPlantAndEquipmentCapitalizedInterest" xlink:label="ts_PropertyPlantAndEquipmentCapitalizedInterest" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_PropertyPlantAndEquipmentCapitalizedInterest" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-details-textual" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Europe1Member" xlink:label="ts_Europe1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MiddleEastAndAfricaMember" xlink:label="ts_MiddleEastAndAfricaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NorthAmerica1Member" xlink:label="ts_NorthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SouthAmerica1Member" xlink:label="ts_SouthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_NorthAmerica1Member" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_SouthAmerica1Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_Europe1Member" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_MiddleEastAndAfricaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Goodwill" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-details-textual" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashOutflowForLeases" xlink:label="ifrs-full_CashOutflowForLeases" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:label="ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:label="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RemainingLeasePaymentsToBeMadePercentage" xlink:label="ts_RemainingLeasePaymentsToBeMadePercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_MaturityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_NotLaterThanOneYearMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashOutflowForLeases" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_RemainingLeasePaymentsToBeMadePercentage" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-details-textual" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DebtSecurities" xlink:label="ifrs-full_DebtSecurities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LoansAndReceivables" xlink:label="ifrs-full_LoansAndReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ClosingPricePerADS" xlink:label="ts_ClosingPricePerADS" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ClosingPricePerShare" xlink:label="ts_ClosingPricePerShare" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DebtServiceCoverageRatioCoveredPercent" xlink:label="ts_DebtServiceCoverageRatioCoveredPercent" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LettersOfCreditCovered" xlink:label="ts_LettersOfCreditCovered" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties" xlink:label="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:label="ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements" xlink:label="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates" xlink:label="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForExposureToTransportationCapacityAgreements" xlink:label="ts_ProvisionForExposureToTransportationCapacityAgreements" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SeveralBanksToRefinanceObligationsMember" xlink:label="ts_SeveralBanksToRefinanceObligationsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TecpetrolInternationalSAMember" xlink:label="ts_TecpetrolInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumAndUsiminasMember" xlink:label="ts_TerniumAndUsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay" xlink:label="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TerniumAndUsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_OrdinarySharesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_PreferenceSharesMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ts_TecpetrolInternationalSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ts_SeveralBanksToRefinanceObligationsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember-default" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ClosingPricePerADS" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ClosingPricePerShare" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ProvisionForExposureToTransportationCapacityAgreements" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LoansAndReceivables" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DebtSecurities" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DebtServiceCoverageRatioCoveredPercent" xlink:type="arc"/>
    <link:definitionArc order="17" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LettersOfCreditCovered" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-details-textual" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:label="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries" xlink:label="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage" xlink:label="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage" xlink:label="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RecognizedTaxLossesExpiringWithinOneYearPercentage" xlink:label="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears" xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear" xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears" xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-details-textual" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsAxis" xlink:label="ifrs-full_ActuarialAssumptionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan" xlink:label="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OverfundedPlan" xlink:label="ts_OverfundedPlan" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedPostemploymentBenefitsMember" xlink:label="ts_UnfundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_UnfundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ActuarialAssumptionsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ActuarialAssumptionsMember" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ActuarialAssumptionsMember" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OverfundedPlan" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedPostemploymentBenefitsMember" xlink:label="ts_UnfundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_BottomOfRangeMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_UnfundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_TopOfRangeMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-details-textual" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits-details-textual" xlink:href="ts-20191231.xsd#statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContingentLiabilitiesMember" xlink:label="ifrs-full_ContingentLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContingentLiabilitiesMember" xlink:label="ifrs-full_ContingentLiabilitiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:label="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxContingentLiabilityMember" xlink:label="ifrs-full_TaxContingentLiabilityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="srt_CounterpartyNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AirLiquideMexicoSDeRLDeCVMember" xlink:label="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CanadianNationalRailwayMember" xlink:label="ts_CanadianNationalRailwayMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ChubbMember" xlink:label="ts_ChubbMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CompanhiaSiderrgicaNacionalMember" xlink:label="ts_CompanhiaSiderrgicaNacionalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabMember" xlink:label="ts_ConfabMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DalmineSPAMember" xlink:label="ts_DalmineSPAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FineImposedPercentageOfAllegedlyUndueCredits" xlink:label="ts_FineImposedPercentageOfAllegedlyUndueCredits" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GraftechMember" xlink:label="ts_GraftechMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually" xlink:label="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NucorSteelMemphisIncMember" xlink:label="ts_NucorSteelMemphisIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PaymentsForSettlement" xlink:label="ts_PaymentsForSettlement" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PercentOfAnnualIronOreNeedsSupplied" xlink:label="ts_PercentOfAnnualIronOreNeedsSupplied" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PerformanceGuaranteesIssued" xlink:label="ts_PerformanceGuaranteesIssued" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PraxairSAMember" xlink:label="ts_PraxairSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:label="ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PurchaseCommitments" xlink:label="ts_PurchaseCommitments" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SettlementAmountOrderedToPay" xlink:label="ts_SettlementAmountOrderedToPay" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SettlementAmountOrderedToPayDamages" xlink:label="ts_SettlementAmountOrderedToPayDamages" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SettlementAmountOrderedToPayInsuranceDeductible" xlink:label="ts_SettlementAmountOrderedToPayInsuranceDeductible" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterests" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterests" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterestsPercentage" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterestsShares" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsShares" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TermOfSupplyContract" xlink:label="ts_TermOfSupplyContract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransportadoraDeGasDelNorteSaMember" xlink:label="ts_TransportadoraDeGasDelNorteSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TribunalDeContasDaUniaoMember" xlink:label="ts_TribunalDeContasDaUniaoMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ValeInternationalSAMember" xlink:label="ts_ValeInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VeracelCeluloseSaMember" xlink:label="ts_VeracelCeluloseSaMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_ContingentLiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="srt_CounterpartyNameAxis" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_CompanhiaSiderrgicaNacionalMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_ContingentLiabilitiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_ConfabMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="srt_CounterpartyNameAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="ts_ChubbMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="srt_CounterpartyNameAxis" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="ts_VeracelCeluloseSaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_TribunalDeContasDaUniaoMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ifrs-full_TaxContingentLiabilityMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_BR" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_DalmineSPAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_IT" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_TransportadoraDeGasDelNorteSaMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_PraxairSAMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_GraftechMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_ValeInternationalSAMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_CanadianNationalRailwayMember" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_NucorSteelMemphisIncMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterests" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterestsShares" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_PaymentsForSettlement" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SettlementAmountOrderedToPay" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SettlementAmountOrderedToPayInsuranceDeductible" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SettlementAmountOrderedToPayDamages" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_FineImposedPercentageOfAllegedlyUndueCredits" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TermOfSupplyContract" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_PurchaseCommitments" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_PercentOfAnnualIronOreNeedsSupplied" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually" xlink:type="arc"/>
    <link:definitionArc order="17" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_PerformanceGuaranteesIssued" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia-details-textual" xlink:href="ts-20191231.xsd#statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInJointVentures" xlink:label="ifrs-full_InvestmentsInJointVentures" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xlink:label="ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManufacturingCapacitySteelPipes" xlink:label="ts_ManufacturingCapacitySteelPipes" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PAOPSeverstalMember" xlink:label="ts_PAOPSeverstalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WeldedPipePlantInWestSiberiaMember" xlink:label="ts_WeldedPipePlantInWestSiberiaMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_JointVenturesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForJointVenturesMember" xlink:to="ts_WeldedPipePlantInWestSiberiaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_EntityDomain" xlink:to="ts_PAOPSeverstalMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInJointVentures" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ManufacturingCapacitySteelPipes" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-details-textual" xlink:href="ts-20191231.xsd#statement-note-27-business-combinations-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueOfAcquiree" xlink:label="ifrs-full_RevenueOfAcquiree" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GarrettMember" xlink:label="ts_GarrettMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManufacturingCapacitySteelPipes" xlink:label="ts_ManufacturingCapacitySteelPipes" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TotalAssetsAndLiabilitiesAcquired" xlink:label="ts_TotalAssetsAndLiabilitiesAcquired" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_GarrettMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashTransferred" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ManufacturingCapacitySteelPipes" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TotalAssetsAndLiabilitiesAcquired" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RevenueOfAcquiree" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-details-textual" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-details-textual" xlink:href="ts-20191231.xsd#statement-note-30-related-party-transactions-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SanFaustinSaMember" xlink:label="ts_SanFaustinSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnitsIssuedRelatedPartyTransactions" xlink:label="ts_UnitsIssuedRelatedPartyTransactions" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ts_SanFaustinSaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesIssued" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_UnitsIssuedRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-details-textual" xlink:href="ts-20191231.xsd#statement-note-32-principal-subsidiaries-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmajaTubularServicesLimitedMember" xlink:label="ts_AmajaTubularServicesLimitedMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilCompanyAndSubsidiariesMember" xlink:label="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:label="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisSupplyChainSAMember" xlink:label="ts_TenarisSupplyChainSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularServicesAngolaLdaMember" xlink:label="ts_TubularServicesAngolaLdaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:label="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisSupplyChainSAMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_AmajaTubularServicesLimitedMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TubularServicesAngolaLdaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries-details-textual" xlink:href="ts-20191231.xsd#statement-note-33-nationalization-of-venezuelan-subsidiaries-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_VE" xlink:label="country_VE" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestReceivable" xlink:label="ifrs-full_InterestReceivable" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivables" xlink:label="ifrs-full_NoncurrentReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MatesiMaterialesSiderrgicosSaMember" xlink:label="ts_MatesiMaterialesSiderrgicosSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate" xlink:label="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest" xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest" xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest" xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesPostawardInterestRate" xlink:label="ts_NationalizationOfSubsidiariesPostawardInterestRate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesPreawardInterest" xlink:label="ts_NationalizationOfSubsidiariesPreawardInterest" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesReimbursementOfLegalFees" xlink:label="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TavsaAndComsiguaMember" xlink:label="ts_TavsaAndComsiguaMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_MatesiMaterialesSiderrgicosSaMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="country_VE" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TavsaAndComsiguaMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesPreawardInterest" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesPostawardInterestRate" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InterestReceivable" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentReceivables" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events-details-textual" xlink:href="ts-20191231.xsd#statement-note-35-subsequent-events-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MasterDistributionAgreementTerm" xlink:label="ts_MasterDistributionAgreementTerm" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MasterDistributionAgreementTermAvailableExtension" xlink:label="ts_MasterDistributionAgreementTermAvailableExtension" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashTransferred" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_MasterDistributionAgreementTerm" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_MasterDistributionAgreementTermAvailableExtension" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-details-textual" xlink:href="ts-20191231.xsd#statement-note-36-update-as-of-april-29-2020-details-textual" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Cash" xlink:label="ifrs-full_Cash" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaid" xlink:label="ifrs-full_DividendsPaid" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:label="ifrs-full_GeneralAndAdministrativeExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ImpairmentLoss" xlink:label="ifrs-full_ImpairmentLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts" xlink:label="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GlobalPandemicMember" xlink:label="ts_GlobalPandemicMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ImpairmentOfAssetsMember" xlink:label="ts_ImpairmentOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_JfeMember" xlink:label="ts_JfeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetCashPositionMember" xlink:label="ts_NetCashPositionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NkktubesMember" xlink:label="ts_NkktubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses" xlink:label="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ts_GlobalPandemicMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ts_NetCashPositionMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ts_ImpairmentOfAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_NkktubesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ts_JfeMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsPaid" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Cash" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashTransferred" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GeneralAndAdministrativeExpense" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ImpairmentLoss" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:href="ts-20191231.xsd#statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscountRateMeasurementInputMember" xlink:label="ifrs-full_DiscountRateMeasurementInputMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnobservableInputsAxis" xlink:label="ifrs-full_UnobservableInputsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnobservableInputsMember" xlink:label="ifrs-full_UnobservableInputsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnobservableInputsMember" xlink:label="ifrs-full_UnobservableInputsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrowthRateMeasurementInputMember" xlink:label="ts_GrowthRateMeasurementInputMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" xlink:label="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_UnobservableInputsAxis" xlink:to="ifrs-full_UnobservableInputsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_UnobservableInputsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_UnobservableInputsMember" xlink:to="ifrs-full_DiscountRateMeasurementInputMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_UnobservableInputsAxis" xlink:to="ifrs-full_UnobservableInputsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_UnobservableInputsMember" xlink:to="ts_GrowthRateMeasurementInputMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_UnobservableInputsMember" xlink:to="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:label="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:label="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetAssetsSoldInDisposalCarryingAmount" xlink:label="ts_NetAssetsSoldInDisposalCarryingAmount" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations" xlink:label="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NetAssetsSoldInDisposalCarryingAmount" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationRightofuseAssets" xlink:label="ifrs-full_DepreciationRightofuseAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RightofuseAssets" xlink:label="ifrs-full_RightofuseAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:label="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LandAndCivilBuildingsMember" xlink:label="ts_LandAndCivilBuildingsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciation" xlink:label="ts_RightofuseAssetsAccumulatedDepreciation" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions" xlink:label="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications" xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences" xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCost" xlink:label="ts_RightofuseAssetsCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostAbstract" xlink:label="ts_RightofuseAssetsCostAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostAdditions" xlink:label="ts_RightofuseAssetsCostAdditions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostCurrencyTranslationAdjustments" xlink:label="ts_RightofuseAssetsCostCurrencyTranslationAdjustments" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostDisposals" xlink:label="ts_RightofuseAssetsCostDisposals" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations" xlink:label="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostTransfers" xlink:label="ts_RightofuseAssetsCostTransfers" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsDepreciationAbstract" xlink:label="ts_RightofuseAssetsDepreciationAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VehiclesFurnitureAndFixturesMember" xlink:label="ts_VehiclesFurnitureAndFixturesMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfAssetsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_LandAndCivilBuildingsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_VehiclesFurnitureAndFixturesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_RightofuseAssetsCostAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCost" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostCurrencyTranslationAdjustments" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostAdditions" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostDisposals" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostTransfers" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_RightofuseAssetsDepreciationAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsAccumulatedDepreciation" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ifrs-full_DepreciationRightofuseAssets" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ifrs-full_RightofuseAssets" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:href="ts-20191231.xsd#statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BuildingsAndImprovementsMember" xlink:label="ts_BuildingsAndImprovementsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PlantAndProductionEquipmentMember" xlink:label="ts_PlantAndProductionEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsefulLivesPropertyPlantAndEquipment" xlink:label="ts_UsefulLivesPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" xlink:label="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ts_BuildingsAndImprovementsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_BottomOfRangeMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_TopOfRangeMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ts_PlantAndProductionEquipmentMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_UsefulLivesPropertyPlantAndEquipment" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-reportable-operating-segments-details" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-reportable-operating-segments-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-reportable-operating-segments-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllOtherSegmentsMember" xlink:label="ifrs-full_AllOtherSegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscontinuedOperationsMember" xlink:label="ifrs-full_DiscontinuedOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncomeCost" xlink:label="ifrs-full_FinanceIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReportableSegmentsMember" xlink:label="ifrs-full_ReportableSegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInCostOfSales" xlink:label="ts_ManagementViewDifferencesInCostOfSales" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInDepreciationAndAmortization" xlink:label="ts_ManagementViewDifferencesInDepreciationAndAmortization" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet" xlink:label="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses" xlink:label="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewOperatingIncome" xlink:label="ts_ManagementViewOperatingIncome" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubesMember" xlink:label="ts_TubesMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingOperationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_SegmentsMember" xlink:to="ts_TubesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_SegmentsMember" xlink:to="ifrs-full_AllOtherSegmentsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_SegmentsMember" xlink:to="ifrs-full_ReportableSegmentsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContinuingOperationsMember" xlink:to="ifrs-full_DiscontinuedOperationsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingOperationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewOperatingIncome" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewDifferencesInCostOfSales" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewDifferencesInDepreciationAndAmortization" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossFromOperatingActivities" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinanceIncomeCost" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossBeforeTax" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DepreciationAndAmortisationExpense" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductsAndServicesAxis" xlink:label="ifrs-full_ProductsAndServicesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductsAndServicesMember" xlink:label="ifrs-full_ProductsAndServicesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductsAndServicesMember" xlink:label="ifrs-full_ProductsAndServicesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrocarbonProcessingAndPowerGenerationMember" xlink:label="ts_HydrocarbonProcessingAndPowerGenerationMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IndustrialAndOtherMember" xlink:label="ts_IndustrialAndOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OilAndGasMember" xlink:label="ts_OilAndGasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubesMember" xlink:label="ts_TubesMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ifrs-full_ProductsAndServicesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_SegmentsMember" xlink:to="ts_TubesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ProductsAndServicesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ProductsAndServicesMember" xlink:to="ts_OilAndGasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ifrs-full_ProductsAndServicesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ProductsAndServicesMember" xlink:to="ts_HydrocarbonProcessingAndPowerGenerationMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ProductsAndServicesMember" xlink:to="ts_IndustrialAndOtherMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:href="ts-20191231.xsd#statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CA" xlink:label="country_CA" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CO" xlink:label="country_CO" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_ID" xlink:label="country_ID" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_JP" xlink:label="country_JP" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_MX" xlink:label="country_MX" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_RO" xlink:label="country_RO" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfEmployees" xlink:label="ifrs-full_NumberOfEmployees" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherGeographicalAreasMember" xlink:label="ts_OtherGeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_AR" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_MX" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_IT" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_RO" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_BR" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_CO" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_CA" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_ID" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_JP" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_OtherGeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfEmployees" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="ifrs-full_BorrowingsInterestRate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WeightedAverageMember" xlink:label="ifrs-full_WeightedAverageMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_WeightedAverageMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_BorrowingsInterestRate" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTabLiabilitiesMember" xlink:label="ts_DeferredTabLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:label="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsInventoryMember" xlink:label="ts_DeferredTaxAssetsInventoryMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsMember" xlink:label="ts_DeferredTaxAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsOtherMember" xlink:label="ts_DeferredTaxAssetsOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsProvisionsAndAllowancesMember" xlink:label="ts_DeferredTaxAssetsProvisionsAndAllowancesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsTaxLossMember" xlink:label="ts_DeferredTaxAssetsTaxLossMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilitiesFixedAssetsMember" xlink:label="ts_DeferredTaxLiabilitiesFixedAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" xlink:label="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilitiesInventoryMember" xlink:label="ts_DeferredTaxLiabilitiesInventoryMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:label="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ifrs-full_LiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesMember" xlink:to="ts_DeferredTaxLiabilitiesFixedAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ifrs-full_LiabilitiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesMember" xlink:to="ts_DeferredTaxLiabilitiesInventoryMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesMember" xlink:to="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesMember" xlink:to="ts_DeferredTabLiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfAssetsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_DeferredTaxAssetsProvisionsAndAllowancesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_DeferredTaxAssetsInventoryMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_DeferredTaxAssetsTaxLossMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_DeferredTaxAssetsOtherMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_DeferredTaxAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MiscellaneousOtherProvisionsMember" xlink:label="ifrs-full_MiscellaneousOtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProvisionUsedOtherProvisions" xlink:label="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AdditionalProvisionsOtherProvisionsReversals" xlink:label="ts_AdditionalProvisionsOtherProvisionsReversals" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionsForCurrentLiabilitiesMember" xlink:label="ts_ProvisionsForCurrentLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SalesRisksMember" xlink:label="ts_SalesRisksMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ts_SalesRisksMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ifrs-full_MiscellaneousOtherProvisionsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ts_ProvisionsForCurrentLiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_AdditionalProvisionsOtherProvisionsReversals" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowHedgesMember" xlink:label="ifrs-full_CashFlowHedgesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:label="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesAxis" xlink:label="ifrs-full_TypesOfHedgesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="ifrs-full_TypesOfHedgesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="ifrs-full_TypesOfHedgesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsMember" xlink:label="ts_ForeignExchangeDerivativesContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_HedgingInstrumentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeDerivativesContractsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfHedgesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfHedgesMember" xlink:to="ifrs-full_CashFlowHedgesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:href="ts-20191231.xsd#statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:label="ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:label="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement--consolidated-income-statement" xlink:href="ts-20191231.xsd#statement--consolidated-income-statement" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement--consolidated-income-statement" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations" xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="ifrs-full_EarningsPerShareAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherFinanceIncomeCost" xlink:label="ifrs-full_OtherFinanceIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ifrs-full_ProfitLossAttributableToAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromContinuingOperations" xlink:label="ifrs-full_ProfitLossFromContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WeightedAverageShares" xlink:label="ifrs-full_WeightedAverageShares" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BasicAndDilutedEarningsLossesPerAds" xlink:label="ts_BasicAndDilutedEarningsLossesPerAds" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" xlink:label="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:label="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ContinuingOperationsAbstract" xlink:label="ts_ContinuingOperationsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DiscontinuedOperationsAbstract" xlink:label="ts_DiscontinuedOperationsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ContinuingOperationsAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_CostOfSales" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_GrossProfit" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_OtherIncome" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_OtherExpenseByFunction" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_ProfitLossFromOperatingActivities" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_FinanceIncome" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_FinanceCosts" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_OtherFinanceIncomeCost" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_ProfitLossBeforeTax" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_ProfitLossFromContinuingOperations" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DiscontinuedOperationsAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DiscontinuedOperationsAbstract" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_DiscontinuedOperationsAbstract" xlink:to="ifrs-full_ProfitLoss" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossAttributableToAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EarningsPerShareAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EarningsPerShareAbstract" xlink:to="ifrs-full_WeightedAverageShares" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:to="ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:to="ts_BasicAndDilutedEarningsLossesPerAds" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-cash-flows" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-cash-flows" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-cash-flows" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="ifrs-full_AdjustmentsForProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense" xlink:label="ifrs-full_InterestRevenueExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherAdjustmentsForNoncashItems" xlink:label="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfInterestsInAssociates" xlink:label="ifrs-full_PurchaseOfInterestsInAssociates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:label="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MovementInCashAndCashEquivalentsAbstract" xlink:label="ts_MovementInCashAndCashEquivalentsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_ProfitLoss" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_InterestRevenueExpense" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForProvisions" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_PurchaseOfInterestsInAssociates" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_MovementInCashAndCashEquivalentsAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:href="ts-20191231.xsd#statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssetsAbstract" xlink:label="ifrs-full_AssetsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="ifrs-full_DerivativeFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialLiabilities" xlink:label="ifrs-full_DerivativeFinancialLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativesMember" xlink:label="ifrs-full_DerivativesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssets" xlink:label="ifrs-full_FinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialLiabilities" xlink:label="ifrs-full_FinancialLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LeaseLiabilities" xlink:label="ifrs-full_LeaseLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesAbstract" xlink:label="ifrs-full_LiabilitiesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherReceivables" xlink:label="ifrs-full_OtherReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="ifrs-full_TradeAndOtherCurrentPayables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BondsAndOtherFixedIncomeMember" xlink:label="ts_BondsAndOtherFixedIncomeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CertificatesOfDepositsMember" xlink:label="ts_CertificatesOfDepositsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CommercialPapersMember" xlink:label="ts_CommercialPapersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CorporatesSecuritiesMember" xlink:label="ts_CorporatesSecuritiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativeLiabilitiesMember" xlink:label="ts_DerivativeLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:label="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NonUsGovernmentSecuritiesMember" xlink:label="ts_NonUsGovernmentSecuritiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestments1Member" xlink:label="ts_OtherInvestments1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNotesMember" xlink:label="ts_OtherNotesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesMember" xlink:label="ts_OtherReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesNonfinancialMember" xlink:label="ts_OtherReceivablesNonfinancialMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StructuredNotesMember" xlink:label="ts_StructuredNotesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsGovernmentSecuritiesMember" xlink:label="ts_UsGovernmentSecuritiesMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsCategoryMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ifrs-full_LiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsCategoryMember" xlink:to="ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsCategoryMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsCategoryMember" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsCategoryMember" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_CertificatesOfDepositsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_CommercialPapersMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_OtherNotesMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_BondsAndOtherFixedIncomeMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_UsGovernmentSecuritiesMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_NonUsGovernmentSecuritiesMember" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_CorporatesSecuritiesMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfAssetsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ifrs-full_DerivativesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember-default" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_StructuredNotesMember" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_OtherInvestments1Member" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_OtherReceivablesMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_OtherReceivablesNonfinancialMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesMember" xlink:to="ts_DerivativeLiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ifrs-full_LiabilitiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AssetsAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_CashAndCashEquivalents" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_CurrentInvestments" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_DerivativeFinancialAssets" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_CurrentTradeReceivables" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_OtherReceivables" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_FinancialAssets" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilitiesAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_Borrowings" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_TradeAndOtherCurrentPayables" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_LeaseLiabilities" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_DerivativeFinancialLiabilities" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_FinancialLiabilities" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:href="ts-20191231.xsd#statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BalancesWithBanks" xlink:label="ifrs-full_BalancesWithBanks" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BondsAndOtherFixedIncomeMember" xlink:label="ts_BondsAndOtherFixedIncomeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:label="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestments1Member" xlink:label="ts_OtherInvestments1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestmentsCurrentAbstract" xlink:label="ts_OtherInvestmentsCurrentAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestmentsNoncurrentAbstract" xlink:label="ts_OtherInvestmentsNoncurrentAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_BondsAndOtherFixedIncomeMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ts_OtherInvestments1Member" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalentsAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_BalancesWithBanks" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_CashAndCashEquivalents" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherInvestmentsCurrentAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherInvestmentsCurrentAbstract" xlink:to="ifrs-full_CurrentInvestments" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherInvestmentsNoncurrentAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherInvestmentsNoncurrentAbstract" xlink:to="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-comprehensive-income" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-comprehensive-income" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-comprehensive-income" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ComprehensiveIncomeFromContinuingOperations" xlink:label="ts_ComprehensiveIncomeFromContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:label="ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:label="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLoss" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncome" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComprehensiveIncome" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:to="ts_ComprehensiveIncomeFromContinuingOperations" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:to="ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-changes-in-equity" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ifrs-full_ComponentsOfEquityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityMember" xlink:label="ifrs-full_EquityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityMember" xlink:label="ifrs-full_EquityMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IssuedCapitalMember" xlink:label="ifrs-full_IssuedCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="ifrs-full_NoncontrollingInterestsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherReservesMember" xlink:label="ifrs-full_OtherReservesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreviouslyStatedMember" xlink:label="ifrs-full_PreviouslyStatedMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RestatedMember" xlink:label="ifrs-full_RestatedMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RestatedMember" xlink:label="ifrs-full_RestatedMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RetainedEarningsMember" xlink:label="ifrs-full_RetainedEarningsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:label="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SharePremiumMember" xlink:label="ifrs-full_SharePremiumMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrencyTranslationAdjustmentMember" xlink:label="ts_CurrencyTranslationAdjustmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPaidIncludingNoncontrollingInterest" xlink:label="ts_DividendsPaidIncludingNoncontrollingInterest" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfChangesInAccountingPolicy" xlink:label="ts_EffectOfChangesInAccountingPolicy" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EquityAdjustedBalance" xlink:label="ts_EquityAdjustedBalance" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LegalReservesMember" xlink:label="ts_LegalReservesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_RestatedMember" xlink:to="ifrs-full_PreviouslyStatedMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:to="ifrs-full_RestatedMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ComponentsOfEquityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_IssuedCapitalMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_EquityMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EquityMember" xlink:to="ts_LegalReservesMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_SharePremiumMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EquityMember" xlink:to="ts_CurrencyTranslationAdjustmentMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_OtherReservesMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_RetainedEarningsMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_NoncontrollingInterestsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_EquityMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:to="ifrs-full_RestatedMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Equity" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLoss" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherComprehensiveIncome" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComprehensiveIncome" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPaidIncludingNoncontrollingInterest" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfChangesInAccountingPolicy" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EquityAdjustedBalance" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:href="ts-20191231.xsd#statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ArgentinePesoUsDollarForeignExchangeRiskMember" xlink:label="ts_ArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EuroUsDollarForeignExchangeRiskMember" xlink:label="ts_EuroUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeRiskCurrencyExposure" xlink:label="ts_ForeignExchangeRiskCurrencyExposure" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiArabianRiyalUsDollarExchangeRiskMember" xlink:label="ts_SaudiArabianRiyalUsDollarExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfRisksAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_ArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_EuroUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ts_SaudiArabianRiyalUsDollarExchangeRiskMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ForeignExchangeRiskCurrencyExposure" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-geographical-information-details" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-geographical-information-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-geographical-information-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscontinuedOperationsMember" xlink:label="ifrs-full_DiscontinuedOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AsiaPacific1Member" xlink:label="ts_AsiaPacific1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ContinuingOperations1Member" xlink:label="ts_ContinuingOperations1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Europe1Member" xlink:label="ts_Europe1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MiddleEastAndAfricaMember" xlink:label="ts_MiddleEastAndAfricaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NorthAmerica1Member" xlink:label="ts_NorthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SouthAmerica1Member" xlink:label="ts_SouthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnallocatedRegionMember" xlink:label="ts_UnallocatedRegionMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingOperationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_NorthAmerica1Member" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_SouthAmerica1Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_Europe1Member" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_MiddleEastAndAfricaMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_AsiaPacific1Member" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_UnallocatedRegionMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContinuingOperationsMember" xlink:to="ifrs-full_DiscontinuedOperationsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingOperationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContinuingOperationsMember" xlink:to="ts_ContinuingOperations1Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Assets" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DepreciationAndAmortisationExpense" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LeaseLiabilities" xlink:label="ifrs-full_LeaseLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesAdditions" xlink:label="ts_LeaseLiabilitiesAdditions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesCancellations" xlink:label="ts_LeaseLiabilitiesCancellations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations" xlink:label="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesInterestAccrued" xlink:label="ts_LeaseLiabilitiesInterestAccrued" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesRepayments" xlink:label="ts_LeaseLiabilitiesRepayments" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesTranslationDifferences" xlink:label="ts_LeaseLiabilitiesTranslationDifferences" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LeaseLiabilities" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesTranslationDifferences" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesAdditions" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesCancellations" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesRepayments" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesInterestAccrued" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsDeclaredByNonconsolidatedCompanies" xlink:label="ts_DividendsDeclaredByNonconsolidatedCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies" xlink:label="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations" xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" xlink:label="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsDeclaredByNonconsolidatedCompanies" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Assets" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentLiabilities" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentLiabilities" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Liabilities" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncontrollingInterests" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GrossProfit" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:href="ts-20191231.xsd#statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentPrepayments" xlink:label="ifrs-full_NoncurrentPrepayments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentReceivables" xlink:label="ifrs-full_OtherNoncurrentReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:label="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:label="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:label="ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:label="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentPrepayments" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherNoncurrentReceivables" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-components-of-inventories-details" xlink:href="ts-20191231.xsd#statement-note-14-inventories-net-components-of-inventories-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-components-of-inventories-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInventoriesInTransit" xlink:label="ifrs-full_CurrentInventoriesInTransit" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinishedGoods" xlink:label="ifrs-full_FinishedGoods" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductionSupplies" xlink:label="ifrs-full_ProductionSupplies" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RawMaterials" xlink:label="ifrs-full_RawMaterials" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WorkInProgress" xlink:label="ifrs-full_WorkInProgress" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesAllowanceForObsolescence" xlink:label="ts_InventoriesAllowanceForObsolescence" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesGross" xlink:label="ts_InventoriesGross" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinishedGoods" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_WorkInProgress" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RawMaterials" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProductionSupplies" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentInventoriesInTransit" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_InventoriesGross" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_InventoriesAllowanceForObsolescence" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Inventories" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:href="ts-20191231.xsd#statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForOtherDoubtfulAccounts" xlink:label="ts_AllowanceForOtherDoubtfulAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:label="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:label="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:label="ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:label="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGross" xlink:label="ts_ReceivablesAndPrepaymentsGross" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:label="ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:label="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:label="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsGross" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_AllowanceForOtherDoubtfulAccounts" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentValueAddedTaxReceivables" xlink:label="ifrs-full_CurrentValueAddedTaxReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentPrepaidTaxes" xlink:label="ts_CurrentPrepaidTaxes" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentValueAddedTaxReceivables" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentPrepaidTaxes" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentValueAddedTaxPayables" xlink:label="ifrs-full_CurrentValueAddedTaxPayables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentIncomeTaxLiabilities" xlink:label="ts_CurrentIncomeTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentOtherTaxLiabilities" xlink:label="ts_CurrentOtherTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentIncomeTaxLiabilities" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentValueAddedTaxPayables" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentOtherTaxLiabilities" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:href="ts-20191231.xsd#statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts" xlink:label="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesCurrentAccounts" xlink:label="ts_CurrentTradeReceivablesCurrentAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGross" xlink:label="ts_CurrentTradeReceivablesGross" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesCurrentAccounts" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesGross" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-maturity-of-borrowings-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-maturity-of-borrowings-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-maturity-of-borrowings-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestPayable" xlink:label="ifrs-full_InterestPayable" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BorrowingsIncludingInterestToBeAccrued" xlink:label="ts_BorrowingsIncludingInterestToBeAccrued" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceLeaseLiabilitiesMember" xlink:label="ts_FinanceLeaseLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:label="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherBorrowingsMember" xlink:label="ts_OtherBorrowingsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ts_OtherBorrowingsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_MaturityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_NotLaterThanOneYearMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ts_FinanceLeaseLiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InterestPayable" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_BorrowingsIncludingInterestToBeAccrued" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SidercaSaicAndSubsidiariesMember" xlink:label="ts_SidercaSaicAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SignificantBorrowingsAsOfClosingDateMember" xlink:label="ts_SignificantBorrowingsAsOfClosingDateMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TamsaHydrilAndOtherMember" xlink:label="ts_TamsaHydrilAndOtherMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ts_SignificantBorrowingsAsOfClosingDateMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TamsaHydrilAndOtherMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_SidercaSaicAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-evolution-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-borrowings-evolution-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-evolution-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfBusinessCombinationsOnLongtermBorrowings" xlink:label="ts_EffectOfBusinessCombinationsOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfOverdraftsVariationOnLongtermBorrowings" xlink:label="ts_EffectOfOverdraftsVariationOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfReclassificationsOnLongtermBorrowings" xlink:label="ts_EffectOfReclassificationsOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfTranslationDifferencesOnLongtermBorrowings" xlink:label="ts_EffectOfTranslationDifferencesOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfTranslationDifferencesOnLongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfReclassificationsOnLongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfBusinessCombinationsOnLongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfOverdraftsVariationOnLongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearMember" xlink:label="ifrs-full_LaterThanOneYearMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_MaturityAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_LaterThanOneYearMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxAssets" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilities" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:label="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxAssets" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilities" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentPostemploymentBenefits" xlink:label="ts_NoncurrentPostemploymentBenefits" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNoncurrentBenefits" xlink:label="ts_OtherNoncurrentBenefits" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNoncurrentMiscellaneousLiabilities" xlink:label="ts_OtherNoncurrentMiscellaneousLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentPostemploymentBenefits" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherNoncurrentBenefits" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherNoncurrentMiscellaneousLiabilities" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherNoncurrentLiabilities" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-postemployment-benefits-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-postemployment-benefits-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-postemployment-benefits-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PlanAssetsAtFairValue" xlink:label="ifrs-full_PlanAssetsAtFairValue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SurplusDeficitInPlan" xlink:label="ifrs-full_SurplusDeficitInPlan" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentPostemploymentBenefits" xlink:label="ts_NoncurrentPostemploymentBenefits" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedPostemploymentBenefitsMember" xlink:label="ts_UnfundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_UnfundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentPostemploymentBenefits" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PlanAssetsAtFairValue" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_SurplusDeficitInPlan" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-plan-assets-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-plan-assets-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-plan-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:label="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:label="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FairValueOfFundedPostemploymentBenefitsMember" xlink:label="ts_FairValueOfFundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherAssetsPercentContributedToFairValueOfPlanAssets" xlink:label="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_FairValueOfFundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-current-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-other-current-liabilities-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-current-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCurrentLiabilities" xlink:label="ifrs-full_OtherCurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentEmployeeRelatedLiabilities" xlink:label="ts_CurrentEmployeeRelatedLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCurrentMiscellaneousLiabilities" xlink:label="ts_OtherCurrentMiscellaneousLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentEmployeeRelatedLiabilities" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherCurrentMiscellaneousLiabilities" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherCurrentLiabilities" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdditionalProvisionsOtherProvisions" xlink:label="ifrs-full_AdditionalProvisionsOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProvisionUsedOtherProvisions" xlink:label="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForNoncurrentLiabilitiesMember" xlink:label="ts_ProvisionForNoncurrentLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ts_ProvisionForNoncurrentLiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdditionalProvisionsOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:href="ts-20191231.xsd#statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:label="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForInventoryObsolescenceMember" xlink:label="ts_AllowanceForInventoryObsolescenceMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" xlink:label="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions" xlink:label="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions" xlink:label="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances" xlink:label="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ts_AllowanceForInventoryObsolescenceMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="ifrs-full_DerivativeFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialLiabilities" xlink:label="ifrs-full_DerivativeFinancialLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:label="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:label="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:label="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativeFinancialAssetsLiabilities" xlink:label="ts_DerivativeFinancialAssetsLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativesHedgingBorrowingsAndInvestmentsMember" xlink:label="ts_DerivativesHedgingBorrowingsAndInvestmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherDerivativesMember" xlink:label="ts_OtherDerivativesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:to="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:to="ts_DerivativesHedgingBorrowingsAndInvestmentsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:to="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:to="ts_OtherDerivativesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DerivativeFinancialAssets" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DerivativeFinancialLiabilities" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DerivativeFinancialAssetsLiabilities" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:href="ts-20191231.xsd#statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:label="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:label="ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:label="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-discontinued-operations-details" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-discontinued-operations-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-discontinued-operations-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:label="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscontinuedOperationsMember" xlink:label="ifrs-full_DiscontinuedOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:label="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:label="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingOperationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContinuingOperationsMember" xlink:to="ifrs-full_DiscontinuedOperationsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingOperationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ContinuingOperationsMember" xlink:to="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GrossProfit" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentLiabilities" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentLiabilities" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:href="ts-20191231.xsd#statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemuneration" xlink:label="ifrs-full_AuditorsRemuneration" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForAuditServices" xlink:label="ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForOtherServices" xlink:label="ifrs-full_AuditorsRemunerationForOtherServices" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForTaxServices" xlink:label="ifrs-full_AuditorsRemunerationForTaxServices" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AuditorsRemunerationForAuditrelatedFees" xlink:label="ts_AuditorsRemunerationForAuditrelatedFees" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_AuditorsRemunerationForAuditrelatedFees" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AuditorsRemunerationForTaxServices" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AuditorsRemunerationForOtherServices" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AuditorsRemuneration" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:href="ts-20191231.xsd#statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CA" xlink:label="country_CA" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CH" xlink:label="country_CH" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_GB" xlink:label="country_GB" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_ID" xlink:label="country_ID" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_JP" xlink:label="country_JP" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_KZ" xlink:label="country_KZ" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_MX" xlink:label="country_MX" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_NL" xlink:label="country_NL" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_PT" xlink:label="country_PT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_RO" xlink:label="country_RO" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_SA" xlink:label="country_SA" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_UY" xlink:label="country_UY" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AlgomaTubesIncMember" xlink:label="ts_AlgomaTubesIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Colombia1Member" xlink:label="ts_Colombia1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DalmineSPAMember" xlink:label="ts_DalmineSPAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilCompanyAndSubsidiariesMember" xlink:label="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_KazakhstanPipeThreadersLimitedMember" xlink:label="ts_KazakhstanPipeThreadersLimitedMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickTubeCorporationAndSubsidiariesMember" xlink:label="ts_MaverickTubeCorporationAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NkktubesMember" xlink:label="ts_NkktubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PrudentialSteelLtdMember" xlink:label="ts_PrudentialSteelLtdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PtSeamlessPipeIndonesiaJayaMember" xlink:label="ts_PtSeamlessPipeIndonesiaJayaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ScSilcotubSaMember" xlink:label="ts_ScSilcotubSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SiatSociedadAnonimaMember" xlink:label="ts_SiatSociedadAnonimaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SidercaSaicAndSubsidiariesMember" xlink:label="ts_SidercaSaicAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" xlink:label="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisBayCityIncMember" xlink:label="ts_TenarisBayCityIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisConnectionsBvMember" xlink:label="ts_TenarisConnectionsBvMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisFinancialServicesSaMember" xlink:label="ts_TenarisFinancialServicesSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesCanadaIncMember" xlink:label="ts_TenarisGlobalServicesCanadaIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesSaAndSubsidiariesMember" xlink:label="ts_TenarisGlobalServicesSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesUkLtdMember" xlink:label="ts_TenarisGlobalServicesUkLtdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesUsaCorporationMember" xlink:label="ts_TenarisGlobalServicesUsaCorporationMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisInvestmentsNLBVMember" xlink:label="ts_TenarisInvestmentsNLBVMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisInvestmentsSrlMember" xlink:label="ts_TenarisInvestmentsSrlMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" xlink:label="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisTubocaribeLtdaMember" xlink:label="ts_TenarisTubocaribeLtdaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubosDeAceroDeMexicoSaMember" xlink:label="ts_TubosDeAceroDeMexicoSaMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_CA" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_AlgomaTubesIncMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_BR" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_IT" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_DalmineSPAMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_US" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_KZ" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_KazakhstanPipeThreadersLimitedMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_MaverickTubeCorporationAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_JP" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_NkktubesMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_ID" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_PtSeamlessPipeIndonesiaJayaMember" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_PrudentialSteelLtdMember" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_RO" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_ScSilcotubSaMember" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_SA" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_AR" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_SiatSociedadAnonimaMember" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_SidercaSaicAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_PT" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisBayCityIncMember" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_NL" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisConnectionsBvMember" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_UY" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisFinancialServicesSaMember" xlink:type="arc"/>
    <link:definitionArc order="17" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisGlobalServicesCanadaIncMember" xlink:type="arc"/>
    <link:definitionArc order="18" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisGlobalServicesUsaCorporationMember" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_GB" xlink:type="arc"/>
    <link:definitionArc order="19" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisGlobalServicesUkLtdMember" xlink:type="arc"/>
    <link:definitionArc order="20" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisGlobalServicesSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="21" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisInvestmentsNLBVMember" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_LU" xlink:type="arc"/>
    <link:definitionArc order="22" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisInvestmentsSrlMember" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_CH" xlink:type="arc"/>
    <link:definitionArc order="23" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ts_Colombia1Member" xlink:type="arc"/>
    <link:definitionArc order="24" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TenarisTubocaribeLtdaMember" xlink:type="arc"/>
    <link:definitionArc order="17" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_MX" xlink:type="arc"/>
    <link:definitionArc order="25" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ts_TubosDeAceroDeMexicoSaMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_ARS" xlink:label="currency_ARS" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_EUR" xlink:label="currency_EUR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_MXN" xlink:label="currency_MXN" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_SAR" xlink:label="currency_SAR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_USD" xlink:label="currency_USD" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FloatingInterestRateMember" xlink:label="ifrs-full_FloatingInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCurrencyMember" xlink:label="ts_OtherCurrencyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="srt_CurrencyAxis" xlink:to="currency_AllCurrenciesDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="srt_CurrencyAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="currency_AllCurrenciesDomain" xlink:to="currency_USD" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="srt_CurrencyAxis" xlink:to="currency_AllCurrenciesDomain-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfInterestRatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_FixedInterestRateMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_FloatingInterestRateMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="currency_AllCurrenciesDomain" xlink:to="currency_SAR" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="currency_AllCurrenciesDomain" xlink:to="currency_EUR" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="currency_AllCurrenciesDomain" xlink:to="currency_MXN" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="currency_AllCurrenciesDomain" xlink:to="currency_ARS" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="currency_AllCurrenciesDomain" xlink:to="ts_OtherCurrencyMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:href="ts-20191231.xsd#statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense" xlink:label="ifrs-full_InterestRevenueExpense" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:label="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:label="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:label="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:label="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InterestAccrualsLessPaymentsNetAbstract" xlink:label="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:to="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:to="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_InterestRevenueExpense" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherMember" xlink:label="ts_OtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_LU" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_BR" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ts_OtherMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowHedgesMember" xlink:label="ifrs-full_CashFlowHedgesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesAxis" xlink:label="ifrs-full_TypesOfHedgesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="ifrs-full_TypesOfHedgesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="ifrs-full_TypesOfHedgesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativeFinancialAssetsLiabilities" xlink:label="ts_DerivativeFinancialAssetsLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractOtherMember" xlink:label="ts_ForeignExchangeContractOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_HedgingInstrumentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfHedgesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_TypesOfHedgesMember" xlink:to="ifrs-full_CashFlowHedgesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ts_ForeignExchangeContractOtherMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DerivativeFinancialAssetsLiabilities" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:href="ts-20191231.xsd#statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:label="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MiscellaneousOtherOperatingIncome" xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherExpenseIncludingDiscontinuedOperations" xlink:label="ts_OtherExpenseIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:label="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpenseDiscontinuedOperations" xlink:label="ts_OtherOperatingExpenseDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpensesAbstract" xlink:label="ts_OtherOperatingExpensesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:label="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeAbstract" xlink:label="ts_OtherOperatingIncomeAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:label="ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeNetRents" xlink:label="ts_OtherOperatingIncomeNetRents" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:label="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherOperatingIncomeAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ts_OtherOperatingIncomeNetRents" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ifrs-full_MiscellaneousOtherOperatingIncome" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ifrs-full_OtherIncome" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherOperatingExpensesAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ts_OtherExpenseIncludingDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ts_OtherOperatingExpenseDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ifrs-full_OtherExpenseByFunction" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:href="ts-20191231.xsd#statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FloatingInterestRateMember" xlink:label="ifrs-full_FloatingInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConcentrationRiskPercentage" xlink:label="ts_ConcentrationRiskPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfInterestRatesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_FixedInterestRateMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_FloatingInterestRateMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ConcentrationRiskPercentage" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:href="ts-20191231.xsd#statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets" xlink:label="ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets" xlink:label="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Assets" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:href="ts-20191231.xsd#statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesAllowanceForObsolescence" xlink:label="ts_CostOfSalesAllowanceForObsolescence" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:label="ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:label="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesDiscontinuedOperations" xlink:label="ts_CostOfSalesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesIncludingDiscontinuedOperations" xlink:label="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesLaborCost" xlink:label="ts_CostOfSalesLaborCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesMaintenanceExpenses" xlink:label="ts_CostOfSalesMaintenanceExpenses" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesOther" xlink:label="ts_CostOfSalesOther" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:label="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesServicesAndFees" xlink:label="ts_CostOfSalesServicesAndFees" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesTaxes" xlink:label="ts_CostOfSalesTaxes" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:label="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseInInventoryDueToBusinessCombinations" xlink:label="ts_IncreaseInInventoryDueToBusinessCombinations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesIncludingDiscontinuedOperations" xlink:label="ts_InventoriesIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Inventories" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_IncreaseInInventoryDueToBusinessCombinations" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesServicesAndFees" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesLaborCost" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesMaintenanceExpenses" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesAllowanceForObsolescence" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesTaxes" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesOther" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_InventoriesIncludingDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CostOfSales" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:href="ts-20191231.xsd#statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:label="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:label="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:label="ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesOther" xlink:label="ts_SellingGeneralAndAdministrativeExpensesOther" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:label="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:label="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:label="ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesOther" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:href="ts-20191231.xsd#statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherLongtermBenefits" xlink:label="ifrs-full_OtherLongtermBenefits" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:label="ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TerminationBenefitsExpense" xlink:label="ifrs-full_TerminationBenefitsExpense" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsExpenseDiscontinuedOperations" xlink:label="ts_EmployeeBenefitsExpenseDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:label="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TerminationBenefitsExpense" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherLongtermBenefits" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsExpenseDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EmployeeBenefitsExpense" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-financial-income-cost-details" xlink:href="ts-20191231.xsd#statement-note-6-financial-results-financial-income-cost-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-financial-income-cost-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncomeCost" xlink:label="ifrs-full_FinanceIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromInterest" xlink:label="ifrs-full_RevenueFromInterest" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceIncomeCostContinuingOperations" xlink:label="ts_FinanceIncomeCostContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceIncomeCostDiscontinuedOperations" xlink:label="ts_FinanceIncomeCostDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsResults" xlink:label="ts_ForeignExchangeDerivativesContractsResults" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:label="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetForeignExchangeTransactionResults" xlink:label="ts_NetForeignExchangeTransactionResults" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherFinancialIncomeCost" xlink:label="ts_OtherFinancialIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherForeignExchangeResults" xlink:label="ts_OtherForeignExchangeResults" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RevenueFromInterest" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinanceIncome" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinanceCosts" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NetForeignExchangeTransactionResults" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_ForeignExchangeDerivativesContractsResults" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherForeignExchangeResults" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherFinancialIncomeCost" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_FinanceIncomeCostContinuingOperations" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_FinanceIncomeCostDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinanceIncomeCost" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:href="ts-20191231.xsd#statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="ifrs-full_CurrentTaxExpenseIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="ifrs-full_DeferredTaxExpenseIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxesAccrued" xlink:label="ts_IncomeTaxesAccrued" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations" xlink:label="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxExpenseIncome" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxExpenseIncome" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_IncomeTaxesAccrued" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:href="ts-20191231.xsd#statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxEffectFromChangeInTaxRate" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxEffectOfTaxLosses" xlink:label="ifrs-full_TaxEffectOfTaxLosses" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:label="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossBeforeTax" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TaxEffectOfTaxLosses" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:href="ts-20191231.xsd#statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ConstructionInProgressMember" xlink:label="ifrs-full_ConstructionInProgressMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:label="ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="ifrs-full_GrossCarryingAmountMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:label="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LandAndCivilBuildingsMember" xlink:label="ts_LandAndCivilBuildingsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SparePartsAndEquipmentMember" xlink:label="ts_SparePartsAndEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VehiclesFurnitureAndFixturesMember" xlink:label="ts_VehiclesFurnitureAndFixturesMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_GrossCarryingAmountMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ts_LandAndCivilBuildingsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ts_VehiclesFurnitureAndFixturesMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ifrs-full_ConstructionInProgressMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ts_SparePartsAndEquipmentMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GoodwillMember" xlink:label="ifrs-full_GoodwillMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="ifrs-full_GrossCarryingAmountMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InformationSystemProjectsMember" xlink:label="ts_InformationSystemProjectsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LicensesPatentsAndTrademarksMember" xlink:label="ts_LicensesPatentsAndTrademarksMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_GrossCarryingAmountMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ts_InformationSystemProjectsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ts_LicensesPatentsAndTrademarksMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ifrs-full_GoodwillMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllOtherSegmentsMember" xlink:label="ifrs-full_AllOtherSegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CoiledTubingMember" xlink:label="ts_CoiledTubingMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilMember" xlink:label="ts_HydrilMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrillAcquisitionMember" xlink:label="ts_HydrillAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickAcquisitionMember" xlink:label="ts_MaverickAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OCTGUSAMember" xlink:label="ts_OCTGUSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCguMember" xlink:label="ts_OtherCguMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SidercaHydrilAndOtherMember" xlink:label="ts_SidercaHydrilAndOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TamsaHydrilAndOtherMember" xlink:label="ts_TamsaHydrilAndOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubesMember" xlink:label="ts_TubesMember" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_SegmentsMember" xlink:to="ts_TubesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_MaverickAcquisitionMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-default" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ts_OCTGUSAMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ts_HydrillAcquisitionMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_SegmentsMember" xlink:to="ifrs-full_AllOtherSegmentsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ts_TamsaHydrilAndOtherMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ts_SidercaHydrilAndOtherMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ts_HydrilMember" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ts_CoiledTubingMember" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ts_OtherCguMember" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Goodwill" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:href="ts-20191231.xsd#statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:label="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesExpectedLossRate" xlink:label="ts_CurrentTradeReceivablesExpectedLossRate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGross" xlink:label="ts_CurrentTradeReceivablesGross" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGuaranteed" xlink:label="ts_CurrentTradeReceivablesGuaranteed" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:label="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNotDueMember" xlink:label="ts_CurrentTradeReceivablesNotDueMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNotGuaranteed" xlink:label="ts_CurrentTradeReceivablesNotGuaranteed" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" xlink:label="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" xlink:label="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfAssetsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_CurrentTradeReceivablesNotDueMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesGuaranteed" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesNotGuaranteed" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesGross" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesExpectedLossRate" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BankBorrowingsMember" xlink:label="ts_BankBorrowingsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BankOverdrafts1Member" xlink:label="ts_BankOverdrafts1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:label="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentCostsOfIssueOfDebt" xlink:label="ts_CurrentCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceLeaseLiabilitiesMember" xlink:label="ts_FinanceLeaseLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:label="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentCostsOfIssueOfDebt" xlink:label="ts_NoncurrentCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ts_BankBorrowingsMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ts_BankOverdrafts1Member" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ts_FinanceLeaseLiabilitiesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentCostsOfIssueOfDebt" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentCostsOfIssueOfDebt" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:href="ts-20191231.xsd#statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProvisionUsedOtherProvisions" xlink:label="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentAllowanceForReceivablesMember" xlink:label="ts_NoncurrentAllowanceForReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ts_NoncurrentAllowanceForReceivablesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:href="ts-20191231.xsd#statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssociatesMember" xlink:label="ifrs-full_AssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="ifrs-full_OtherRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:label="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions" xlink:label="ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:label="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:label="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmountsReceivablePayableRelatedPartyTransactions" xlink:label="ts_AmountsReceivablePayableRelatedPartyTransactions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:label="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinancialDebtRelatedParties" xlink:label="ts_FinancialDebtRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions" xlink:label="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RevenueRelatedPartyTransactions" xlink:label="ts_RevenueRelatedPartyTransactions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_AssociatesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_OtherRelatedPartiesMember" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_RevenueRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_AmountsReceivablePayableRelatedPartyTransactions" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ts_FinancialDebtRelatedParties" xlink:type="arc"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-financial-position" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-financial-position" xlink:type="simple"/>
  <link:definitionLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-financial-position" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain-default" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAdvances" xlink:label="ifrs-full_CurrentAdvances" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentDerivativeFinancialAssets" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLeaseLiabilities" xlink:label="ifrs-full_CurrentLeaseLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentProvisions" xlink:label="ifrs-full_CurrentProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLeaseLiabilities" xlink:label="ifrs-full_NoncurrentLeaseLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentProvisions" xlink:label="ifrs-full_NoncurrentProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivables" xlink:label="ifrs-full_NoncurrentReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCurrentLiabilities" xlink:label="ifrs-full_OtherCurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RightofuseAssets" xlink:label="ifrs-full_RightofuseAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="ifrs-full_TradeAndOtherCurrentPayables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipment" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RightofuseAssets" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxAssets" xlink:type="arc"/>
    <link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentReceivables" xlink:type="arc"/>
    <link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Inventories" xlink:type="arc"/>
    <link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="arc"/>
    <link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables" xlink:type="arc"/>
    <link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentDerivativeFinancialAssets" xlink:type="arc"/>
    <link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentInvestments" xlink:type="arc"/>
    <link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalents" xlink:type="arc"/>
    <link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentAssets" xlink:type="arc"/>
    <link:definitionArc order="17" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Assets" xlink:type="arc"/>
    <link:definitionArc order="18" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:definitionArc order="19" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncontrollingInterests" xlink:type="arc"/>
    <link:definitionArc order="20" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Equity" xlink:type="arc"/>
    <link:definitionArc order="21" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LongtermBorrowings" xlink:type="arc"/>
    <link:definitionArc order="22" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentLeaseLiabilities" xlink:type="arc"/>
    <link:definitionArc order="23" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilities" xlink:type="arc"/>
    <link:definitionArc order="24" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherNoncurrentLiabilities" xlink:type="arc"/>
    <link:definitionArc order="25" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentProvisions" xlink:type="arc"/>
    <link:definitionArc order="26" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentLiabilities" xlink:type="arc"/>
    <link:definitionArc order="27" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:definitionArc order="28" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentLeaseLiabilities" xlink:type="arc"/>
    <link:definitionArc order="29" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:type="arc"/>
    <link:definitionArc order="30" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="arc"/>
    <link:definitionArc order="31" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherCurrentLiabilities" xlink:type="arc"/>
    <link:definitionArc order="32" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentProvisions" xlink:type="arc"/>
    <link:definitionArc order="33" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentAdvances" xlink:type="arc"/>
    <link:definitionArc order="34" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TradeAndOtherCurrentPayables" xlink:type="arc"/>
    <link:definitionArc order="35" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentLiabilities" xlink:type="arc"/>
    <link:definitionArc order="36" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Liabilities" xlink:type="arc"/>
    <link:definitionArc order="37" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EquityAndLiabilities" xlink:type="arc"/>
  </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>13
<FILENAME>ts-20191231_lab.xml
<DESCRIPTION>XBRL LABEL FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome XBRL - 02:20AM UTC 2020-04-30--><link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" xlink:type="simple"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesPostawardInterestRate" xlink:label="ts_NationalizationOfSubsidiariesPostawardInterestRate" xlink:type="locator"/>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesPostawardInterestRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NationalizationOfSubsidiariesPostawardInterestRate</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesPostawardInterestRate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nationalization of subsidiaries, post-award interest rate</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesPostawardInterestRate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The rate at which interest will accrue if compensation for the nationalization of subsidiaries is not received by the due date.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NationalizationOfSubsidiariesPostawardInterestRate" xlink:to="ts_NationalizationOfSubsidiariesPostawardInterestRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:label="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of net defined benefit liability (asset) [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:to="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsPaidClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DividendsPaidClassifiedAsFinancingActivities</link:label>
    <link:label xlink:label="ifrs-full_DividendsPaidClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends paid</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:to="ifrs-full_DividendsPaidClassifiedAsFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MatesiMaterialesSiderrgicosSaMember" xlink:label="ts_MatesiMaterialesSiderrgicosSaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_MatesiMaterialesSiderrgicosSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Matesi Materiales Sider&#250;rgicos S.A [member]</link:label>
    <link:label xlink:label="ts_MatesiMaterialesSiderrgicosSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Matesi Materiales Sider&#250;rgicos S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_MatesiMaterialesSiderrgicosSaMember" xlink:to="ts_MatesiMaterialesSiderrgicosSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesPreawardInterest" xlink:label="ts_NationalizationOfSubsidiariesPreawardInterest" xlink:type="locator"/>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesPreawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NationalizationOfSubsidiariesPreawardInterest</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesPreawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nationalization of subsidiaries, pre-award interest</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesPreawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of pre-award interest associated with compensation for the nationalization of subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NationalizationOfSubsidiariesPreawardInterest" xlink:to="ts_NationalizationOfSubsidiariesPreawardInterest-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:label xlink:label="ts_StatementTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement Table [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_StatementTable" xlink:to="ts_StatementTable-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest" xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest" xlink:type="locator"/>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nationalization of subsidiaries, compensation award including pre-award interest</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount awarded, including pre-award interest, as compensation for the nationalization of subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest" xlink:to="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:label xlink:label="ts_StatementLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement Line Items [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_StatementLineItems" xlink:to="ts_StatementLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TavsaAndComsiguaMember" xlink:label="ts_TavsaAndComsiguaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TavsaAndComsiguaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tavsa and Comsigua [member]</link:label>
    <link:label xlink:label="ts_TavsaAndComsiguaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entities AVSA - Tubos de Acero de Venezuela S.A. and Complejo Sider&#250;rgico de Guayana, C.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TavsaAndComsiguaMember" xlink:to="ts_TavsaAndComsiguaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:label="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfSignificantAccountingPoliciesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discloure of Significant Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ts_DisclosureOfSignificantAccountingPoliciesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</link:label>
    <link:label xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayments of borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DocumentAndEntityInformation" xlink:label="ts_DocumentAndEntityInformation" xlink:type="locator"/>
    <link:label xlink:label="ts_DocumentAndEntityInformation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document And Entity Information</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DocumentAndEntityInformation" xlink:to="ts_DocumentAndEntityInformation-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" xlink:label="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for current and deferred income tax [text block]</link:label>
    <link:label xlink:label="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The description of the entity's accounting policy for current and deferred income tax.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" xlink:to="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of derivative financial instruments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesReimbursementOfLegalFees" xlink:label="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees" xlink:type="locator"/>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NationalizationOfSubsidiariesReimbursementOfLegalFees</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nationalization of subsidiaries, reimbursement of legal fees</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of reimbursement of legal fees associated with the nationalization of subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees" xlink:to="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:label xlink:label="ts_NoteToFinancialStatementDetailsTextual-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note To Financial Statement Details Textual</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_NoteToFinancialStatementDetailsTextual-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities</link:label>
    <link:label xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments of lease liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate" xlink:label="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate" xlink:type="locator"/>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nationalization of subsidiaries, basis spread on variable rate</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage points added to the reference rate to compute the variable rate on the interest receivable associated with the nationalization of subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate" xlink:to="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-significant-accounting-policies-policies" xlink:label="ts_statement-statement-significant-accounting-policies-policies" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-significant-accounting-policies-policies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-significant-accounting-policies-policies" xlink:to="ts_statement-statement-significant-accounting-policies-policies-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TopOfRangeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Top of range [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-ii-accounting-policies-tables" xlink:label="ts_statement-statement-ii-accounting-policies-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-ii-accounting-policies-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">II. Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-ii-accounting-policies-tables" xlink:to="ts_statement-statement-ii-accounting-policies-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceLeaseLiabilitiesMember" xlink:label="ts_FinanceLeaseLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_FinanceLeaseLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance lease liabilities [member]</link:label>
    <link:label xlink:label="ts_FinanceLeaseLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents finance lease liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FinanceLeaseLiabilitiesMember" xlink:to="ts_FinanceLeaseLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-iii-financial-risk-management-tables" xlink:label="ts_statement-statement-iii-financial-risk-management-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-iii-financial-risk-management-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">III. Financial Risk Management</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-iii-financial-risk-management-tables" xlink:to="ts_statement-statement-iii-financial-risk-management-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WeightedAverageMember" xlink:label="ifrs-full_WeightedAverageMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageMember" xlink:to="ifrs-full_WeightedAverageMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" xlink:label="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for basis of presentation [text block]</link:label>
    <link:label xlink:label="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The description of the entity's accounting policy for basis of presentation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" xlink:to="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-1-segment-information-tables" xlink:label="ts_statement-statement-note-1-segment-information-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-1-segment-information-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 1 - Segment Information</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-1-segment-information-tables" xlink:to="ts_statement-statement-note-1-segment-information-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-2-cost-of-sales-tables" xlink:label="ts_statement-statement-note-2-cost-of-sales-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-2-cost-of-sales-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 2 - Cost of Sales</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-2-cost-of-sales-tables" xlink:to="ts_statement-statement-note-2-cost-of-sales-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BankBorrowingsMember" xlink:label="ts_BankBorrowingsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_BankBorrowingsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank borrowings [member]</link:label>
    <link:label xlink:label="ts_BankBorrowingsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents bank borrowings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_BankBorrowingsMember" xlink:to="ts_BankBorrowingsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FixedInterestRateMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed interest rate [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FixedInterestRateMember" xlink:to="ifrs-full_FixedInterestRateMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-3-selling-general-and-administrative-expenses-tables" xlink:label="ts_statement-statement-note-3-selling-general-and-administrative-expenses-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-3-selling-general-and-administrative-expenses-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 3 - Selling, General and Administrative Expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-3-selling-general-and-administrative-expenses-tables" xlink:to="ts_statement-statement-note-3-selling-general-and-administrative-expenses-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:label="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current borrowings before costs of issue of debt</link:label>
    <link:label xlink:label="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of current borrowings before the costs of issue of debt.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:to="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:label="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:to="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashFlowsFromUsedInInvestingActivities</link:label>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash (used in) provided by investing activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FloatingInterestRateMember" xlink:label="ifrs-full_FloatingInterestRateMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FloatingInterestRateMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Floating interest rate [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FloatingInterestRateMember" xlink:to="ifrs-full_FloatingInterestRateMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentCostsOfIssueOfDebt" xlink:label="ts_NoncurrentCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:label xlink:label="ts_NoncurrentCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NoncurrentCostsOfIssueOfDebt</link:label>
    <link:label xlink:label="ts_NoncurrentCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Non-current costs of issue of debt</link:label>
    <link:label xlink:label="ts_NoncurrentCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of costs of issue of debt classified as non-current.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NoncurrentCostsOfIssueOfDebt" xlink:to="ts_NoncurrentCostsOfIssueOfDebt-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RangesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ranges [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_RangesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-5-other-operating-income-and-expenses-tables" xlink:label="ts_statement-statement-note-5-other-operating-income-and-expenses-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-5-other-operating-income-and-expenses-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 5 - Other Operating Income and Expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-5-other-operating-income-and-expenses-tables" xlink:to="ts_statement-statement-note-5-other-operating-income-and-expenses-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BankOverdrafts1Member" xlink:label="ts_BankOverdrafts1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_BankOverdrafts1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank overdrafts [member]</link:label>
    <link:label xlink:label="ts_BankOverdrafts1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents bank overdrafts.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_BankOverdrafts1Member" xlink:to="ts_BankOverdrafts1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RangeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-6-financial-results-tables" xlink:label="ts_statement-statement-note-6-financial-results-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-6-financial-results-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 6 - Financial Results</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-6-financial-results-tables" xlink:to="ts_statement-statement-note-6-financial-results-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:label="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:label xlink:label="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current borrowings before costs of issue of debt</link:label>
    <link:label xlink:label="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total borrowings</link:label>
    <link:label xlink:label="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of non-current borrowings before the costs of issue of debt.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:to="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-7-income-tax-tables" xlink:label="ts_statement-statement-note-7-income-tax-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-7-income-tax-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 7 - Income Tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-7-income-tax-tables" xlink:to="ts_statement-statement-note-7-income-tax-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherBorrowingsMember" xlink:label="ts_OtherBorrowingsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherBorrowingsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other borrowings [member]</link:label>
    <link:label xlink:label="ts_OtherBorrowingsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents other borrowings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherBorrowingsMember" xlink:to="ts_OtherBorrowingsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-9-property-plant-and-equipment-net-tables" xlink:label="ts_statement-statement-note-9-property-plant-and-equipment-net-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-9-property-plant-and-equipment-net-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 9 - Property, Plant and Equipment, Net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-9-property-plant-and-equipment-net-tables" xlink:to="ts_statement-statement-note-9-property-plant-and-equipment-net-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" xlink:label="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vehicles, furniture and fixtures, and other equipment [member]</link:label>
    <link:label xlink:label="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a class of property, plant and equipment representing vehicles, furniture and fixtures, and other equipment held by the entity for use in operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" xlink:to="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestRateTypesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate types [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_InterestRateTypesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-10-intangible-assets-net-tables" xlink:label="ts_statement-statement-note-10-intangible-assets-net-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-10-intangible-assets-net-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 10 - Intangible Assets, Net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-10-intangible-assets-net-tables" xlink:to="ts_statement-statement-note-10-intangible-assets-net-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provided by (used in) investing activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentCostsOfIssueOfDebt" xlink:label="ts_CurrentCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_CurrentCostsOfIssueOfDebt</link:label>
    <link:label xlink:label="ts_CurrentCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Current costs of issue of debt</link:label>
    <link:label xlink:label="ts_CurrentCostsOfIssueOfDebt-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of costs of issue of debt classified as current.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentCostsOfIssueOfDebt" xlink:to="ts_CurrentCostsOfIssueOfDebt-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfInterestRatesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of interest rates [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_TypesOfInterestRatesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:label="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Right-of-use Assets, Net and Lease Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:to="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsefulLivesPropertyPlantAndEquipment" xlink:label="ts_UsefulLivesPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ts_UsefulLivesPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment (Year)</link:label>
    <link:label xlink:label="ts_UsefulLivesPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the useful lives or depreciation rates used for property, plant and equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UsefulLivesPropertyPlantAndEquipment" xlink:to="ts_UsefulLivesPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Investments in Non-consolidated Companies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:to="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BorrowingsIncludingInterestToBeAccrued" xlink:label="ts_BorrowingsIncludingInterestToBeAccrued" xlink:type="locator"/>
    <link:label xlink:label="ts_BorrowingsIncludingInterestToBeAccrued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_BorrowingsIncludingInterestToBeAccrued</link:label>
    <link:label xlink:label="ts_BorrowingsIncludingInterestToBeAccrued-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label xlink:label="ts_BorrowingsIncludingInterestToBeAccrued-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of borrowings including interest to be accrued.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_BorrowingsIncludingInterestToBeAccrued" xlink:to="ts_BorrowingsIncludingInterestToBeAccrued-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-13-receivables-non-current-tables" xlink:label="ts_statement-statement-note-13-receivables-non-current-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-13-receivables-non-current-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 13 - Receivables - Non Current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-13-receivables-non-current-tables" xlink:to="ts_statement-statement-note-13-receivables-non-current-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-14-inventories-net-tables" xlink:label="ts_statement-statement-note-14-inventories-net-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-14-inventories-net-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 14 - Inventories, Net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-14-inventories-net-tables" xlink:to="ts_statement-statement-note-14-inventories-net-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about borrowings [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BuildingsAndImprovementsMember" xlink:label="ts_BuildingsAndImprovementsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_BuildingsAndImprovementsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Buildings and improvements [member]</link:label>
    <link:label xlink:label="ts_BuildingsAndImprovementsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a class of property, plant and equipment representing buildings and equipment held by the entity for use in operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_BuildingsAndImprovementsMember" xlink:to="ts_BuildingsAndImprovementsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes in investments in securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-15-receivables-and-prepayments-net-tables" xlink:label="ts_statement-statement-note-15-receivables-and-prepayments-net-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-15-receivables-and-prepayments-net-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 15 - Receivables and Prepayments, Net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-15-receivables-and-prepayments-net-tables" xlink:to="ts_statement-statement-note-15-receivables-and-prepayments-net-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PlantAndProductionEquipmentMember" xlink:label="ts_PlantAndProductionEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="ts_PlantAndProductionEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plant and production equipment [member]</link:label>
    <link:label xlink:label="ts_PlantAndProductionEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a class of property, plant and equipment representing plant and production equipment used in operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PlantAndProductionEquipmentMember" xlink:to="ts_PlantAndProductionEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-16-current-tax-assets-and-liabilities-tables" xlink:label="ts_statement-statement-note-16-current-tax-assets-and-liabilities-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-16-current-tax-assets-and-liabilities-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 16 - Current Tax Assets and Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-16-current-tax-assets-and-liabilities-tables" xlink:to="ts_statement-statement-note-16-current-tax-assets-and-liabilities-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod</link:label>
    <link:label xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Investment in companies under cost method</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:to="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-17-trade-receivables-net-tables" xlink:label="ts_statement-statement-note-17-trade-receivables-net-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-17-trade-receivables-net-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 17 - Trade Receivables, Net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-17-trade-receivables-net-tables" xlink:to="ts_statement-statement-note-17-trade-receivables-net-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:label="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 18 - Cash and Cash Equivalents and Other Investments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:to="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-tables" xlink:label="ts_statement-statement-note-19-borrowings-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-19-borrowings-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-19-borrowings-tables" xlink:to="ts_statement-statement-note-19-borrowings-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-20-deferred-income-tax-tables" xlink:label="ts_statement-statement-note-20-deferred-income-tax-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-20-deferred-income-tax-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 20 - Deferred Income Tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-20-deferred-income-tax-tables" xlink:to="ts_statement-statement-note-20-deferred-income-tax-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures</link:label>
    <link:label xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital expenditures</link:label>
    <link:label xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCurrencyMember" xlink:label="ts_OtherCurrencyMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherCurrencyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other currency [member]</link:label>
    <link:label xlink:label="ts_OtherCurrencyMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents currencies not otherwise specified.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherCurrencyMember" xlink:to="ts_OtherCurrencyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from disposal of Conduit business</link:label>
    <link:label xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:to="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about borrowings by currency and rate [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about borrowings by currency and rate.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-tables" xlink:label="ts_statement-statement-note-21-other-liabilities-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-21-other-liabilities-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Other Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-21-other-liabilities-tables" xlink:to="ts_statement-statement-note-21-other-liabilities-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:label="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 22 - Non-current Allowances and Provisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:to="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-23-current-allowances-and-provisions-tables" xlink:label="ts_statement-statement-note-23-current-allowances-and-provisions-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-23-current-allowances-and-provisions-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Current Allowances and Provisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-23-current-allowances-and-provisions-tables" xlink:to="ts_statement-statement-note-23-current-allowances-and-provisions-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from disposal of property, plant and equipment and intangible assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:to="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:label="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Detailed disclosure of cash and cash equivalents and other investments [text block]</link:label>
    <link:label xlink:label="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The detailed disclosure of cash and cash equivalents and other investments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:to="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-24-derivative-financial-instruments-tables" xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 24 - Derivative Financial Instruments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-24-derivative-financial-instruments-tables" xlink:to="ts_statement-statement-note-24-derivative-financial-instruments-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-27-business-combinations-tables" xlink:label="ts_statement-statement-note-27-business-combinations-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-27-business-combinations-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 27 - Business Combinations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-27-business-combinations-tables" xlink:to="ts_statement-statement-note-27-business-combinations-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:label="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:type="locator"/>
    <link:label xlink:label="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed Income (time-deposit, zero coupon bonds, commercial papers) [member]</link:label>
    <link:label xlink:label="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents fixed income (time-deposit, zero coupon bonds, commercial papers).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:to="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:label="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of cash and cash equivalents and other investments [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of cash and cash equivalents and other investments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:to="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedge accounting reserve</link:label>
    <link:label xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reserve of cash flow hedges, continuing hedges</link:label>
    <link:label xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Hedge accounting reserve</link:label>
    <link:label xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Hedge accounting reserve</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:to="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-28-cash-flow-disclosures-tables" xlink:label="ts_statement-statement-note-28-cash-flow-disclosures-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-28-cash-flow-disclosures-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 28 - Cash Flow Disclosures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-28-cash-flow-disclosures-tables" xlink:to="ts_statement-statement-note-28-cash-flow-disclosures-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-29-discontinued-operations-tables" xlink:label="ts_statement-statement-note-29-discontinued-operations-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-29-discontinued-operations-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 29 - Discontinued Operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-29-discontinued-operations-tables" xlink:to="ts_statement-statement-note-29-discontinued-operations-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:label="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Movements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:to="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-30-related-party-transactions-tables" xlink:label="ts_statement-statement-note-30-related-party-transactions-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-30-related-party-transactions-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 30 - Related Party Transactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-30-related-party-transactions-tables" xlink:to="ts_statement-statement-note-30-related-party-transactions-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestments1Member" xlink:label="ts_OtherInvestments1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherInvestments1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other investments [member]</link:label>
    <link:label xlink:label="ts_OtherInvestments1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments classified as other.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherInvestments1Member" xlink:to="ts_OtherInvestments1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:label="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 31 - Fees Paid to the Company's Principal Accountant</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:to="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestmentsCurrentAbstract" xlink:label="ts_OtherInvestmentsCurrentAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherInvestmentsCurrentAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other investments - current:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherInvestmentsCurrentAbstract" xlink:to="ts_OtherInvestmentsCurrentAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-32-principal-subsidiaries-tables" xlink:label="ts_statement-statement-note-32-principal-subsidiaries-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-32-principal-subsidiaries-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 32 - Principal Subsidiaries</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-32-principal-subsidiaries-tables" xlink:to="ts_statement-statement-note-32-principal-subsidiaries-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BondsAndOtherFixedIncomeMember" xlink:label="ts_BondsAndOtherFixedIncomeMember" xlink:type="locator"/>
    <link:label xlink:label="ts_BondsAndOtherFixedIncomeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bonds and other fixed income [member]</link:label>
    <link:label xlink:label="ts_BondsAndOtherFixedIncomeMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents bonds and other fixed income.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_BondsAndOtherFixedIncomeMember" xlink:to="ts_BondsAndOtherFixedIncomeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-36-update-as-of-april-29-2020-tables" xlink:label="ts_statement-statement-note-36-update-as-of-april-29-2020-tables" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-36-update-as-of-april-29-2020-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 36 - Update as of April 29, 2020</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-36-update-as-of-april-29-2020-tables" xlink:to="ts_statement-statement-note-36-update-as-of-april-29-2020-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:label="ts_statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:to="ts_statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesAxis" xlink:label="ifrs-full_TypesOfHedgesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfHedgesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of hedges [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayment of loan by non-consolidated companies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:to="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DebtToEquityRatio" xlink:label="ts_DebtToEquityRatio" xlink:type="locator"/>
    <link:label xlink:label="ts_DebtToEquityRatio-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DebtToEquityRatio</link:label>
    <link:label xlink:label="ts_DebtToEquityRatio-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt to equity ratio</link:label>
    <link:label xlink:label="ts_DebtToEquityRatio-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The year-end ratio of debt to total equity (where &#8220;debt&#8221; comprises financial borrowings and &#8220;total equity&#8221; is the sum of financial borrowings and equity).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DebtToEquityRatio" xlink:to="ts_DebtToEquityRatio-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:label="ts_statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies - Changes in Key Assumptions That Would Cause the Recoverable Amount to Equal the Carrying Value (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:to="ts_statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestmentsNoncurrentAbstract" xlink:label="ts_OtherInvestmentsNoncurrentAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherInvestmentsNoncurrentAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other investments - Non-current:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherInvestmentsNoncurrentAbstract" xlink:to="ts_OtherInvestmentsNoncurrentAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:label="ts_statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Risk Management - Financial Assets and Liabilities Which Impact Profit and Loss (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:to="ts_statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="ifrs-full_TypesOfHedgesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfHedgesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedges [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfHedgesMember" xlink:to="ifrs-full_TypesOfHedgesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:label="ts_statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Risk Management - Proportions of Variable-rate and Fixed-rate Debt (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:to="ts_statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:label="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:type="locator"/>
    <link:label xlink:label="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax revaluation, withholding tax and others</link:label>
    <link:label xlink:label="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to revenues that are exempt from taxation and to expenses not deductible in determining taxable profit (tax loss).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:to="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfInterestsInAssociates" xlink:label="ifrs-full_PurchaseOfInterestsInAssociates" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PurchaseOfInterestsInAssociates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PurchaseOfInterestsInAssociates</link:label>
    <link:label xlink:label="ifrs-full_PurchaseOfInterestsInAssociates-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Investment in non-consolidated companies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfInterestsInAssociates" xlink:to="ifrs-full_PurchaseOfInterestsInAssociates-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:label="ts_statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Risk Management - Financial Instruments and Classification Within the Fair Value Hierarchy (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:to="ts_statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConcentrationRiskPercentage" xlink:label="ts_ConcentrationRiskPercentage" xlink:type="locator"/>
    <link:label xlink:label="ts_ConcentrationRiskPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage</link:label>
    <link:label xlink:label="ts_ConcentrationRiskPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk, percentage</link:label>
    <link:label xlink:label="ts_ConcentrationRiskPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ConcentrationRiskPercentage" xlink:to="ts_ConcentrationRiskPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:label="ts_statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Risk Management - Changes in Level 3 Assets and Liabilities (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:to="ts_statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-1-segment-information-reportable-operating-segments-details" xlink:label="ts_statement-statement-note-1-segment-information-reportable-operating-segments-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-1-segment-information-reportable-operating-segments-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 1 - Segment Information - Reportable Operating Segments (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-1-segment-information-reportable-operating-segments-details" xlink:to="ts_statement-statement-note-1-segment-information-reportable-operating-segments-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ArgentinePesoUsDollarForeignExchangeRiskMember" xlink:label="ts_ArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ArgentinePesoUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Argentine Peso / U.S. dollar foreign exchange risk [member]</link:label>
    <link:label xlink:label="ts_ArgentinePesoUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a Argentine Peso / U.S. dollar foreign exchange risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ArgentinePesoUsDollarForeignExchangeRiskMember" xlink:to="ts_ArgentinePesoUsDollarForeignExchangeRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about hedged items [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EuroUsDollarForeignExchangeRiskMember" xlink:label="ts_EuroUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ts_EuroUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro / U.S. dollar foreign exchange risk [member]</link:label>
    <link:label xlink:label="ts_EuroUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a Euro / U.S. dollar foreign exchange risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EuroUsDollarForeignExchangeRiskMember" xlink:to="ts_EuroUsDollarForeignExchangeRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-1-segment-information-geographical-information-details" xlink:label="ts_statement-statement-note-1-segment-information-geographical-information-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-1-segment-information-geographical-information-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 1 - Segment Information - Geographical Information (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-1-segment-information-geographical-information-details" xlink:to="ts_statement-statement-note-1-segment-information-geographical-information-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" xlink:label="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of difference between income before tax and the theoretical amount that would arise using tax rate in each country [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about the differences between income before tax and the theoretical amount that would arise using the tax rate in each country.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" xlink:to="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:label="ts_statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 1 - Segment Information - Tubes Segment Revenues By Market (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:to="ts_statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher" xlink:label="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher" xlink:type="locator"/>
    <link:label xlink:label="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher</link:label>
    <link:label xlink:label="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on interest rate risk if market interest rates were higher</link:label>
    <link:label xlink:label="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of potential gain (loss) on interest rate risk if the market interest rates were higher.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher" xlink:to="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:label="ts_statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 2 - Cost of Sales - Components of Cost of Sales (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:to="ts_statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends received from non-consolidated companies</link:label>
    <link:label xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends received from associates, classified as investing activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:to="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:label="ts_statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 3 - Selling, General and Administrative Expenses - Components of Selling, General and Administrative Expenses (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:to="ts_statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:label="ts_statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 4 - Labor Costs - Summary of Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:to="ts_statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GuaranteesUnderCreditInsuranceMember" xlink:label="ts_GuaranteesUnderCreditInsuranceMember" xlink:type="locator"/>
    <link:label xlink:label="ts_GuaranteesUnderCreditInsuranceMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantees under credit insurance [member]</link:label>
    <link:label xlink:label="ts_GuaranteesUnderCreditInsuranceMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents guarantees under credit insurance.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_GuaranteesUnderCreditInsuranceMember" xlink:to="ts_GuaranteesUnderCreditInsuranceMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:label="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) - Number of Employees (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:to="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:label="ts_statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 5 - Other Operating Income and Expenses - Components of Other Operating Income and Expenses (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:to="ts_statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about income tax expense (benefit) [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about income tax expense (benefit).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-6-financial-results-financial-income-cost-details" xlink:label="ts_statement-statement-note-6-financial-results-financial-income-cost-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-6-financial-results-financial-income-cost-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 6 - Financial Results - Financial Income (Cost) (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-6-financial-results-financial-income-cost-details" xlink:to="ts_statement-statement-note-6-financial-results-financial-income-cost-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CustomerConcentrationRisk1Member" xlink:label="ts_CustomerConcentrationRisk1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_CustomerConcentrationRisk1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer concentration risk [member]</link:label>
    <link:label xlink:label="ts_CustomerConcentrationRisk1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reflects the percentage that revenues or credit exposure in the period are from one or more significant customers. The risk is the materially adverse effects of loss of a significant customer.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CustomerConcentrationRisk1Member" xlink:to="ts_CustomerConcentrationRisk1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:label="ts_statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 7 - Income Tax - Summary of Income Tax Expense (Benefit) (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:to="ts_statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes in advance to suppliers of property, plant and equipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:to="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:label="ts_statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 7 - Income Tax - Summary of Differences Between Income Tax and Theoretical Amount Using Tax Rate in Each Country (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:to="ts_statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PastDueMember" xlink:label="ts_PastDueMember" xlink:type="locator"/>
    <link:label xlink:label="ts_PastDueMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Past due [member]</link:label>
    <link:label xlink:label="ts_PastDueMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a financial instrument which is past due.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PastDueMember" xlink:to="ts_PastDueMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:label="ts_statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 9 - Property, Plant and Equipment, Net - Components of Property, Plant and Equipment, Net (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:to="ts_statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_HedgingInstrumentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging instruments [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HedgingInstrumentsMember" xlink:to="ifrs-full_HedgingInstrumentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:label="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_LetterOfCreditAndOtherBankGuaranteesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Letter of credit and other bank guarantees [member]</link:label>
    <link:label xlink:label="ts_LetterOfCreditAndOtherBankGuaranteesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents letter of credit and other bank guarantees.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:to="ts_LetterOfCreditAndOtherBankGuaranteesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:label="ts_statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 10 - Intangible Assets, Net - Intangible Assets and Goodwill (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:to="ts_statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_HedgingInstrumentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging instruments [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherGuaranteesMember" xlink:label="ts_OtherGuaranteesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherGuaranteesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other guarantees [member]</link:label>
    <link:label xlink:label="ts_OtherGuaranteesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents other guarantees.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherGuaranteesMember" xlink:to="ts_OtherGuaranteesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:label="ts_statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 10 - Intangible Assets, Net - Goodwill Allocated by CGU (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:to="ts_statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:label="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Right-of-use Assets (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:to="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency" xlink:label="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency" xlink:type="locator"/>
    <link:label xlink:label="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency</link:label>
    <link:label xlink:label="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liquid financial assets, percentage denominated by a specific currency</link:label>
    <link:label xlink:label="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of liquid financial assets that are denominated by a specific currency.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency" xlink:to="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:label="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Lease Liability (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:to="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CounterpartyRiskMember" xlink:label="ts_CounterpartyRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CounterpartyRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty risk [member]</link:label>
    <link:label xlink:label="ts_CounterpartyRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the percentage of financial assets held with counter parties rated as investment grade.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CounterpartyRiskMember" xlink:to="ts_CounterpartyRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Investments in Non-consolidated Companies - Summary of Investments in Non-consolidated Companies (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:to="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LiquidFinancialAssetsPercentage" xlink:label="ts_LiquidFinancialAssetsPercentage" xlink:type="locator"/>
    <link:label xlink:label="ts_LiquidFinancialAssetsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LiquidFinancialAssetsPercentage</link:label>
    <link:label xlink:label="ts_LiquidFinancialAssetsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liquid financial assets, percentage</link:label>
    <link:label xlink:label="ts_LiquidFinancialAssetsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of assets held that are liquid.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LiquidFinancialAssetsPercentage" xlink:to="ts_LiquidFinancialAssetsPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Investments in Non-consolidated Companies - Principal Non-consolidated Companies (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:to="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xlink:label="ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities</link:label>
    <link:label xlink:label="ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other cash payments to acquire interests in joint ventures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xlink:to="ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Investments in Non-consolidated Companies - Summary of Selected Financial Information (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:to="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:label="ts_statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 13 - Receivables - Non Current - Components of Receivables Non Current (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:to="ts_statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedPostemploymentBenefitsMember" xlink:label="ts_UnfundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_UnfundedPostemploymentBenefitsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unfunded post-employment benefits [member]</link:label>
    <link:label xlink:label="ts_UnfundedPostemploymentBenefitsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for unfunded post-employment benefits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UnfundedPostemploymentBenefitsMember" xlink:to="ts_UnfundedPostemploymentBenefitsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-14-inventories-net-components-of-inventories-details" xlink:label="ts_statement-statement-note-14-inventories-net-components-of-inventories-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-14-inventories-net-components-of-inventories-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 14 - Inventories, Net - Components of Inventories (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-14-inventories-net-components-of-inventories-details" xlink:to="ts_statement-statement-note-14-inventories-net-components-of-inventories-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_FundedPostemploymentBenefitsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Funded post-employment benefits [member]</link:label>
    <link:label xlink:label="ts_FundedPostemploymentBenefitsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for funded post-employment benefits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FundedPostemploymentBenefitsMember" xlink:to="ts_FundedPostemploymentBenefitsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:label="ts_statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 15 - Receivables and Prepayments, Net - Summary of Receivables and Prepayments (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:to="ts_statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue" xlink:label="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue" xlink:type="locator"/>
    <link:label xlink:label="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue</link:label>
    <link:label xlink:label="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities, fair value as a percentage of carrying value</link:label>
    <link:label xlink:label="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of a financial liabilities carrying amount that represents its fair value.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue" xlink:to="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</link:label>
    <link:label xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of subsidiaries, net of cash acquired</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:label="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Assets (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:to="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OverfundedPlan" xlink:label="ts_OverfundedPlan" xlink:type="locator"/>
    <link:label xlink:label="ts_OverfundedPlan-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OverfundedPlan</link:label>
    <link:label xlink:label="ts_OverfundedPlan-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Overfunded Plan</link:label>
    <link:label xlink:label="ts_OverfundedPlan-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined benefit plan in which retirement benefits are payable directly from plan assets segregated and restricted to provide such benefits and for which plan assets exceed benefit obligation of plan designed to provide retirement benefits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OverfundedPlan" xlink:to="ts_OverfundedPlan-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:label="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Liabilities (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:to="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeRiskCurrencyExposure" xlink:label="ts_ForeignExchangeRiskCurrencyExposure" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeRiskCurrencyExposure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency exposure / functional currency</link:label>
    <link:label xlink:label="ts_ForeignExchangeRiskCurrencyExposure-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange risk, currency exposure</link:label>
    <link:label xlink:label="ts_ForeignExchangeRiskCurrencyExposure-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of currency exposure which impact profit and loss expressed as long/(short).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeRiskCurrencyExposure" xlink:to="ts_ForeignExchangeRiskCurrencyExposure-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:label="ts_statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 17 - Trade Receivables, Net - Summary of Current Trade Receivables (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:to="ts_statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:label="ts_statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 17 - Trade Receivables, Net - Summary of the Aging of Trade Receivables (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:to="ts_statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:label="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 18 - Cash and Cash Equivalents and Other Investments - Components of Cash and Cash Equivalents and Other Investments (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:to="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNoncurrentMiscellaneousLiabilities" xlink:label="ts_OtherNoncurrentMiscellaneousLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherNoncurrentMiscellaneousLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Miscellaneous</link:label>
    <link:label xlink:label="ts_OtherNoncurrentMiscellaneousLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other non-current miscellaneous liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherNoncurrentMiscellaneousLiabilities" xlink:to="ts_OtherNoncurrentMiscellaneousLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">(Used in) provided by operating activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:label="ts_statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Borrowings - Non-current and Current Borrowings (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:to="ts_statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-maturity-of-borrowings-details" xlink:label="ts_statement-statement-note-19-borrowings-maturity-of-borrowings-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-19-borrowings-maturity-of-borrowings-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Borrowings - Maturity of Borrowings (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-19-borrowings-maturity-of-borrowings-details" xlink:to="ts_statement-statement-note-19-borrowings-maturity-of-borrowings-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentPostemploymentBenefits" xlink:label="ts_NoncurrentPostemploymentBenefits" xlink:type="locator"/>
    <link:label xlink:label="ts_NoncurrentPostemploymentBenefits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post-employment benefits</link:label>
    <link:label xlink:label="ts_NoncurrentPostemploymentBenefits-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of non-current post-employment benefits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NoncurrentPostemploymentBenefits" xlink:to="ts_NoncurrentPostemploymentBenefits-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashFlowsFromUsedInOperatingActivities</link:label>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) operating activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:label="ts_statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Borrowings - Significant Borrowings as of Closing Date (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:to="ts_statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNoncurrentBenefits" xlink:label="ts_OtherNoncurrentBenefits" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherNoncurrentBenefits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other-long term benefits</link:label>
    <link:label xlink:label="ts_OtherNoncurrentBenefits-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other non-current benefits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherNoncurrentBenefits" xlink:to="ts_OtherNoncurrentBenefits-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPayableAmountPerADS" xlink:label="ts_DividendsPayableAmountPerADS" xlink:type="locator"/>
    <link:label xlink:label="ts_DividendsPayableAmountPerADS-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DividendsPayableAmountPerADS</link:label>
    <link:label xlink:label="ts_DividendsPayableAmountPerADS-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends payable, amount per ads (in dollars per share)</link:label>
    <link:label xlink:label="ts_DividendsPayableAmountPerADS-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The per American Depositary Security "ADS" amount of a dividend declared or approved, but not yet paid. One ADS equals two shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DividendsPayableAmountPerADS" xlink:to="ts_DividendsPayableAmountPerADS-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:label="ts_statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Borrowings - Weighted Average Interest Rates of Borrowings (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:to="ts_statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPaidPerADS" xlink:label="ts_DividendsPaidPerADS" xlink:type="locator"/>
    <link:label xlink:label="ts_DividendsPaidPerADS-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DividendsPaidPerADS</link:label>
    <link:label xlink:label="ts_DividendsPaidPerADS-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends paid, per ADS (in dollars per share)</link:label>
    <link:label xlink:label="ts_DividendsPaidPerADS-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of dividends paid per American Depositary Security ("ADS"). One ADS equals two shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DividendsPaidPerADS" xlink:to="ts_DividendsPaidPerADS-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:label="ts_statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Borrowings - Borrowings by Currency and Rate (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:to="ts_statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-borrowings-evolution-details" xlink:label="ts_statement-statement-note-19-borrowings-borrowings-evolution-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-19-borrowings-borrowings-evolution-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Borrowings - Borrowings Evolution (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-19-borrowings-borrowings-evolution-details" xlink:to="ts_statement-statement-note-19-borrowings-borrowings-evolution-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:label="ts_statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 20 - Deferred Income Tax - Deferred Tax Assets and Liabilities (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:to="ts_statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:label="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:type="locator"/>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses and other receivables</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of prepaid expenses and other receivables attributable to receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:to="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:label="ts_statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 20 - Deferred Income Tax - Recovery Analysis of Deferred Tax Assets and Liabilities (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:to="ts_statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:label="ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:type="locator"/>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsGovernmentEntities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ReceivablesAndPrepaymentsGovernmentEntities</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsGovernmentEntities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Government entities</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsGovernmentEntities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of government entities attributable to receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:to="ts_ReceivablesAndPrepaymentsGovernmentEntities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:label="ts_statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 20 - Deferred Income Tax - Net Deferred Tax Liabilities (Assets) (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:to="ts_statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" xlink:label="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of receivables and prepayments [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" xlink:to="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseInWorkingCapital</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Changes in working capital</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in working capital</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="ifrs-full_IncreaseDecreaseInWorkingCapital-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:label="ts_statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Other Liabilities - Other Noncurrent Liabilities (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:to="ts_statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about receivables and prepayments [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-postemployment-benefits-details" xlink:label="ts_statement-statement-note-21-other-liabilities-postemployment-benefits-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-21-other-liabilities-postemployment-benefits-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Other Liabilities - Post-employment Benefits (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-21-other-liabilities-postemployment-benefits-details" xlink:to="ts_statement-statement-note-21-other-liabilities-postemployment-benefits-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:label="ts_statement-statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-21-other-liabilities-actuarial-assumptions-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Other Liabilities - Actuarial Assumptions (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:to="ts_statement-statement-note-21-other-liabilities-actuarial-assumptions-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:label="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:type="locator"/>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Government tax refunds on exports</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of government tax refunds on exports that are attributable to receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:to="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:label="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivables from related parties</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of receivables from related parties that are attributable to receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:to="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-plan-assets-details" xlink:label="ts_statement-statement-note-21-other-liabilities-plan-assets-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-21-other-liabilities-plan-assets-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Other Liabilities - Plan Assets (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-21-other-liabilities-plan-assets-details" xlink:to="ts_statement-statement-note-21-other-liabilities-plan-assets-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:label="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:type="locator"/>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee advances and loans</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of employee advances and loans that are attributable to receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:to="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-other-current-liabilities-details" xlink:label="ts_statement-statement-note-21-other-liabilities-other-current-liabilities-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-21-other-liabilities-other-current-liabilities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Other Liabilities - Other Current Liabilities (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-21-other-liabilities-other-current-liabilities-details" xlink:to="ts_statement-statement-note-21-other-liabilities-other-current-liabilities-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:label="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:type="locator"/>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances to suppliers and other advances</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of advances to suppliers and other advances that are attributable to receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:to="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:label="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 22 - Non-current Allowances and Provisions - Deducted From Non-current Receivables (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:to="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGross" xlink:label="ts_ReceivablesAndPrepaymentsGross" xlink:type="locator"/>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsGross-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ReceivablesAndPrepaymentsGross</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsGross-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Receivables and prepayments, gross</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsGross-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gross amount of receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReceivablesAndPrepaymentsGross" xlink:to="ts_ReceivablesAndPrepaymentsGross-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:label="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 22 - Non-current Allowances and Provisions - Liabilities (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:to="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForOtherDoubtfulAccounts" xlink:label="ts_AllowanceForOtherDoubtfulAccounts" xlink:type="locator"/>
    <link:label xlink:label="ts_AllowanceForOtherDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_AllowanceForOtherDoubtfulAccounts</link:label>
    <link:label xlink:label="ts_AllowanceForOtherDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Allowance for other doubtful accounts (see Note 23 (i))</link:label>
    <link:label xlink:label="ts_AllowanceForOtherDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a valuation allowance for other doubtful accounts that are expected to be uncollectible.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AllowanceForOtherDoubtfulAccounts" xlink:to="ts_AllowanceForOtherDoubtfulAccounts-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:label="ts_statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Current Allowances and Provisions - Deducted From Assets (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:to="ts_statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:label="ts_statement-statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-23-current-allowances-and-provisions-liabilities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Current Allowances and Provisions - Liabilities (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:to="ts_statement-statement-note-23-current-allowances-and-provisions-liabilities-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:label="ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:type="locator"/>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsMiscellaneous-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ReceivablesAndPrepaymentsMiscellaneous</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsMiscellaneous-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Miscellaneous</link:label>
    <link:label xlink:label="ts_ReceivablesAndPrepaymentsMiscellaneous-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of miscellaneous items that are attributable to receivables and prepayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:to="ts_ReceivablesAndPrepaymentsMiscellaneous-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-net-fair-values-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 24 - Derivative Financial Instruments - Net Fair Values (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:to="ts_statement-statement-note-24-derivative-financial-instruments-net-fair-values-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InterestPaidClassifiedAsOperatingActivities</link:label>
    <link:label xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Interest paid</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 24 - Derivative Financial Instruments - Foreign Exchange Derivative Contracts and Hedge Accounting (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:to="ts_statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 24 - Derivative Financial Instruments - Hedge Reserve Evolution (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:to="ts_statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:label="ts_statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 27 - Business Combinations - Assets and Liabilities Assumed (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:to="ts_statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Taxes paid</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:to="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:label="ts_statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 28 - Cash Flow Disclosures - Cash Flow Disclosures (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:to="ts_statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest received</link:label>
    <link:label xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InterestReceivedClassifiedAsOperatingActivities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestReceivedClassifiedAsOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLoss-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income (loss) for the year</link:label>
    <link:label xlink:label="ifrs-full_ProfitLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income for the year</link:label>
    <link:label xlink:label="ifrs-full_ProfitLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income for the year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:label="ts_statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 29 - Discontinued Operations - Components of Discontinued Operation's Net Income (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:to="ts_statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:label="ts_statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 29 - Discontinued Operations - Components Gain on Sale After Income Tax for Disposals (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:to="ts_statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-29-discontinued-operations-discontinued-operations-details" xlink:label="ts_statement-statement-note-29-discontinued-operations-discontinued-operations-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-29-discontinued-operations-discontinued-operations-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 29 - Discontinued Operations - Discontinued Operations (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-29-discontinued-operations-discontinued-operations-details" xlink:to="ts_statement-statement-note-29-discontinued-operations-discontinued-operations-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:label="ts_statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 30 - Related Party Transactions - Transactions Carried Out With Related Parties (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:to="ts_statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:label="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 31 - Fees Paid to the Company's Principal Accountant - Fees Accrued for Professional Services (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:to="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:label="ts_statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 32 - Principal Subsidiaries - Percentage of Ownership of Each Controlled Company (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:to="ts_statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:label="ts_statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:type="locator"/>
    <link:label xlink:label="ts_statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 36 - Update as of April 29, 2020 - Assets and Liabilities Assumed (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:to="ts_statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatements" xlink:label="ts_NotesToFinancialStatements" xlink:type="locator"/>
    <link:label xlink:label="ts_NotesToFinancialStatements-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes To Financial Statements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NotesToFinancialStatements" xlink:to="ts_NotesToFinancialStatements-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from operating activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_NotesToFinancialStatementsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes To Financial Statements [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_NotesToFinancialStatementsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentPrepaidTaxes" xlink:label="ts_CurrentPrepaidTaxes" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentPrepaidTaxes-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid taxes</link:label>
    <link:label xlink:label="ts_CurrentPrepaidTaxes-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of current prepaid taxes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentPrepaidTaxes" xlink:to="ts_CurrentPrepaidTaxes-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about current tax assets [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about current tax assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about tax liabilities [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about current tax liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentIncomeTaxLiabilities" xlink:label="ts_CurrentIncomeTaxLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentIncomeTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax liabilities</link:label>
    <link:label xlink:label="ts_CurrentIncomeTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of current income tax liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentIncomeTaxLiabilities" xlink:to="ts_CurrentIncomeTaxLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashOutflowForLeases" xlink:label="ifrs-full_CashOutflowForLeases" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashOutflowForLeases-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashOutflowForLeases</link:label>
    <link:label xlink:label="ifrs-full_CashOutflowForLeases-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash outflow for leases</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashOutflowForLeases" xlink:to="ifrs-full_CashOutflowForLeases-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentOtherTaxLiabilities" xlink:label="ts_CurrentOtherTaxLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentOtherTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other taxes</link:label>
    <link:label xlink:label="ts_CurrentOtherTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of current other tax liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentOtherTaxLiabilities" xlink:to="ts_CurrentOtherTaxLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SegmentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesCurrentAccounts" xlink:label="ts_CurrentTradeReceivablesCurrentAccounts" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesCurrentAccounts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current accounts</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesCurrentAccounts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of current accounts attributable to current trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesCurrentAccounts" xlink:to="ts_CurrentTradeReceivablesCurrentAccounts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReportableSegmentsMember" xlink:label="ifrs-full_ReportableSegmentsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ReportableSegmentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reportable segments [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReportableSegmentsMember" xlink:to="ifrs-full_ReportableSegmentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SegmentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentsMember" xlink:to="ifrs-full_SegmentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts" xlink:label="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Allowance for doubtful accounts (see Note 23 (i))</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a valuation allowance for trade receivables due to an Entity within one year (or one operating cycle if longer) that are expected to be uncollectible.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts" xlink:to="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_ARS" xlink:label="currency_ARS" xlink:type="locator"/>
    <link:label xlink:label="currency_ARS-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Argentina, Pesos</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_ARS" xlink:to="currency_ARS-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGross" xlink:label="ts_CurrentTradeReceivablesGross" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesGross-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current trade receivables, gross</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesGross-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Guaranteed and not guaranteed</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesGross-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gross amount of current trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesGross" xlink:to="ts_CurrentTradeReceivablesGross-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about financial instruments at fair value by category and levels [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about financial instruments at fair value by category and levels.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about current trade receivables [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about current trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsAxis" xlink:label="ifrs-full_TypesOfContractsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfContractsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of contracts [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ifrs-full_TypesOfContractsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGuaranteed" xlink:label="ts_CurrentTradeReceivablesGuaranteed" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesGuaranteed-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guaranteed</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesGuaranteed-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount current trade receivables that are guaranteed.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesGuaranteed" xlink:to="ts_CurrentTradeReceivablesGuaranteed-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsMember" xlink:label="ifrs-full_TypesOfContractsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfContractsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of contracts [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfContractsMember" xlink:to="ifrs-full_TypesOfContractsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersAxis" xlink:label="ifrs-full_TypesOfCustomersAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfCustomersAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of customers [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfCustomersAxis" xlink:to="ifrs-full_TypesOfCustomersAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNotDueMember" xlink:label="ts_CurrentTradeReceivablesNotDueMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesNotDueMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current trade receivables, not due [member]</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesNotDueMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to current trade receivables that currently not due.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesNotDueMember" xlink:to="ts_CurrentTradeReceivablesNotDueMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GovernmentCustomersMember" xlink:label="ifrs-full_GovernmentCustomersMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GovernmentCustomersMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Government customers [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GovernmentCustomersMember" xlink:to="ifrs-full_GovernmentCustomersMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNotGuaranteed" xlink:label="ts_CurrentTradeReceivablesNotGuaranteed" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesNotGuaranteed-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not guaranteed</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesNotGuaranteed-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of current trade receivables that are not guaranteed.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesNotGuaranteed" xlink:to="ts_CurrentTradeReceivablesNotGuaranteed-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersMember" xlink:label="ifrs-full_TypesOfCustomersMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfCustomersMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of customers [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfCustomersMember" xlink:to="ifrs-full_TypesOfCustomersMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" xlink:label="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure if detailed information about the aging of trade receivables [text block]</link:label>
    <link:label xlink:label="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about current trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" xlink:to="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GeographicalAreasMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical areas [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ifrs-full_GeographicalAreasMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNotesMember" xlink:label="ts_OtherNotesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherNotesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other notes [member]</link:label>
    <link:label xlink:label="ts_OtherNotesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securities classified as other notes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherNotesMember" xlink:to="ts_OtherNotesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GeographicalAreasAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical areas [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsGovernmentSecuritiesMember" xlink:label="ts_UsGovernmentSecuritiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_UsGovernmentSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">U.S. government securities [member]</link:label>
    <link:label xlink:label="ts_UsGovernmentSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securities classified as U.S. government securities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UsGovernmentSecuritiesMember" xlink:to="ts_UsGovernmentSecuritiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CertificatesOfDepositsMember" xlink:label="ts_CertificatesOfDepositsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CertificatesOfDepositsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certificates of Deposits [member]</link:label>
    <link:label xlink:label="ts_CertificatesOfDepositsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securities classified as Certificates of Deposits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CertificatesOfDepositsMember" xlink:to="ts_CertificatesOfDepositsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CommercialPapersMember" xlink:label="ts_CommercialPapersMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CommercialPapersMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Papers [member]</link:label>
    <link:label xlink:label="ts_CommercialPapersMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securities classified as Commercial Papers.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CommercialPapersMember" xlink:to="ts_CommercialPapersMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CorporatesSecuritiesMember" xlink:label="ts_CorporatesSecuritiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CorporatesSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporates securities [member]</link:label>
    <link:label xlink:label="ts_CorporatesSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securities classified as Corporates securities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CorporatesSecuritiesMember" xlink:to="ts_CorporatesSecuritiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssets" xlink:label="ifrs-full_FinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssets" xlink:to="ifrs-full_FinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductsAndServicesMember" xlink:label="ifrs-full_ProductsAndServicesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProductsAndServicesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesMember" xlink:to="ifrs-full_ProductsAndServicesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NonUsGovernmentSecuritiesMember" xlink:label="ts_NonUsGovernmentSecuritiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_NonUsGovernmentSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non - U.S. government securities [member]</link:label>
    <link:label xlink:label="ts_NonUsGovernmentSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securities classified as Non - U.S. government securities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NonUsGovernmentSecuritiesMember" xlink:to="ts_NonUsGovernmentSecuritiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductsAndServicesAxis" xlink:label="ifrs-full_ProductsAndServicesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProductsAndServicesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ifrs-full_ProductsAndServicesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" xlink:label="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current trade receivables, past due, less than 180 days [member]</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information about current trade receivables that are less than 180 days past due.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" xlink:to="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDividendsExplanatory" xlink:label="ifrs-full_DisclosureOfDividendsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDividendsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of dividends [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDividendsExplanatory" xlink:to="ifrs-full_DisclosureOfDividendsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesNonfinancialMember" xlink:label="ts_OtherReceivablesNonfinancialMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherReceivablesNonfinancialMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other receivables (non-Financial) [member]</link:label>
    <link:label xlink:label="ts_OtherReceivablesNonfinancialMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets classified as other receivables (non-financial).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherReceivablesNonfinancialMember" xlink:to="ts_OtherReceivablesNonfinancialMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" xlink:label="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current trade receivables, past due, greater than 180 days [member]</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to current trade receivables that are greater than 180 days past due.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" xlink:to="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory" xlink:label="ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of discontinued operations [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory" xlink:to="ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesMember" xlink:label="ts_OtherReceivablesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherReceivablesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other receivables [member]</link:label>
    <link:label xlink:label="ts_OtherReceivablesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets classified as other receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherReceivablesMember" xlink:to="ts_OtherReceivablesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StructuredNotesMember" xlink:label="ts_StructuredNotesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_StructuredNotesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Structured Notes [member]</link:label>
    <link:label xlink:label="ts_StructuredNotesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securities classified as Structured Notes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_StructuredNotesMember" xlink:to="ts_StructuredNotesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LoansAndReceivables" xlink:label="ifrs-full_LoansAndReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LoansAndReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_LoansAndReceivables</link:label>
    <link:label xlink:label="ifrs-full_LoansAndReceivables-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans and receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LoansAndReceivables" xlink:to="ifrs-full_LoansAndReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TerniumSAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ternium S.A. [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TerniumSAMember" xlink:to="ts_TerniumSAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ClosingPricePerADS" xlink:label="ts_ClosingPricePerADS" xlink:type="locator"/>
    <link:label xlink:label="ts_ClosingPricePerADS-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ClosingPricePerADS</link:label>
    <link:label xlink:label="ts_ClosingPricePerADS-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Closing price, per ads (in dollars per share)</link:label>
    <link:label xlink:label="ts_ClosingPricePerADS-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the closing price per American Depositary Security "ADS" as quoted on the New York Stock Exchange.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ClosingPricePerADS" xlink:to="ts_ClosingPricePerADS-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfActuarialAssumptionsTextBlock" xlink:label="ts_DisclosureOfActuarialAssumptionsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfActuarialAssumptionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of actuarial assumptions [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfActuarialAssumptionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of actuarial assumptions pf defined benefit plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfActuarialAssumptionsTextBlock" xlink:to="ts_DisclosureOfActuarialAssumptionsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_USD" xlink:label="currency_USD" xlink:type="locator"/>
    <link:label xlink:label="currency_USD-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States of America, Dollars</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_USD" xlink:to="currency_USD-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WeightedAverageShares" xlink:label="ifrs-full_WeightedAverageShares" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageShares-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted average number of ordinary shares (thousands) (in shares)</link:label>
    <link:label xlink:label="ifrs-full_WeightedAverageShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_WeightedAverageShares</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageShares" xlink:to="ifrs-full_WeightedAverageShares-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPayableAmountPerADSIncludingInterimDividend" xlink:label="ts_DividendsPayableAmountPerADSIncludingInterimDividend" xlink:type="locator"/>
    <link:label xlink:label="ts_DividendsPayableAmountPerADSIncludingInterimDividend-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DividendsPayableAmountPerADSIncludingInterimDividend</link:label>
    <link:label xlink:label="ts_DividendsPayableAmountPerADSIncludingInterimDividend-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends payable, amount per ADS including interim dividend (in dollars per share)</link:label>
    <link:label xlink:label="ts_DividendsPayableAmountPerADSIncludingInterimDividend-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The per American Depositary Security "ADS" amount of a dividend payable including an interim dividend paid previously. One ADS equals two shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DividendsPayableAmountPerADSIncludingInterimDividend" xlink:to="ts_DividendsPayableAmountPerADSIncludingInterimDividend-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets at fair value through other comprehensive income, category [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ClosingPricePerShare" xlink:label="ts_ClosingPricePerShare" xlink:type="locator"/>
    <link:label xlink:label="ts_ClosingPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ClosingPricePerShare</link:label>
    <link:label xlink:label="ts_ClosingPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Closing price, per share (in BRL per share)</link:label>
    <link:label xlink:label="ts_ClosingPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the quoted closing price per share of stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ClosingPricePerShare" xlink:to="ts_ClosingPricePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TechgenSAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Techgen s.a. [member]</link:label>
    <link:label xlink:label="ts_TechgenSAMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to Techgen S.A. "Techgen".</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TechgenSAMember" xlink:to="ts_TechgenSAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets at amortised cost, category [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:to="ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPayableAmountPerShareIncludingInterimDividend" xlink:label="ts_DividendsPayableAmountPerShareIncludingInterimDividend" xlink:type="locator"/>
    <link:label xlink:label="ts_DividendsPayableAmountPerShareIncludingInterimDividend-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DividendsPayableAmountPerShareIncludingInterimDividend</link:label>
    <link:label xlink:label="ts_DividendsPayableAmountPerShareIncludingInterimDividend-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends payable, amount per share including interim dividend (in dollars per share)</link:label>
    <link:label xlink:label="ts_DividendsPayableAmountPerShareIncludingInterimDividend-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The per share amount of a dividend payable including an interim dividend previously paid.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DividendsPayableAmountPerShareIncludingInterimDividend" xlink:to="ts_DividendsPayableAmountPerShareIncludingInterimDividend-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ReserveOfExchangeDifferencesOnTranslation</link:label>
    <link:label xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reserve of exchange differences on translation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:to="ifrs-full_ReserveOfExchangeDifferencesOnTranslation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets at fair value through profit or loss, category [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:label="ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:type="locator"/>
    <link:label xlink:label="ts_ProportionOfCorporateGuaranteeCoveringObligations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ProportionOfCorporateGuaranteeCoveringObligations</link:label>
    <link:label xlink:label="ts_ProportionOfCorporateGuaranteeCoveringObligations-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of corporate guarantee covering obligations</link:label>
    <link:label xlink:label="ts_ProportionOfCorporateGuaranteeCoveringObligations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the proportion of a corporate guarantee that covers obligations made under a syndicated loan agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:to="ts_ProportionOfCorporateGuaranteeCoveringObligations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialLiabilities" xlink:label="ifrs-full_FinancialLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label xlink:label="ifrs-full_FinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_FinancialLiabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:label="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of effect of changes in foreign exchange rates [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:to="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialAssetsCategoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets, category [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsCategoryMember" xlink:to="ifrs-full_FinancialAssetsCategoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of financial assets [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherAssetsPercentContributedToFairValueOfPlanAssets" xlink:label="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherAssetsPercentContributedToFairValueOfPlanAssets</link:label>
    <link:label xlink:label="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</link:label>
    <link:label xlink:label="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percent that other types of assets not separately disclosed constitute of the fair value of defined benefit plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets" xlink:to="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:label="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:type="locator"/>
    <link:label xlink:label="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets</link:label>
    <link:label xlink:label="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity instruments</link:label>
    <link:label xlink:label="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percent that instruments representing equity (rather than debt) constitute of the fair value of defined benefit plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:to="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:label="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:type="locator"/>
    <link:label xlink:label="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets</link:label>
    <link:label xlink:label="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instruments</link:label>
    <link:label xlink:label="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percent that instruments representing debt (rather than equity) constitute of the fair value of defined benefit plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:to="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_SAR" xlink:label="currency_SAR" xlink:type="locator"/>
    <link:label xlink:label="currency_SAR-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Saudi Arabia, Riyals</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_SAR" xlink:to="currency_SAR-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCurrentMiscellaneousLiabilities" xlink:label="ts_OtherCurrentMiscellaneousLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherCurrentMiscellaneousLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Miscellaneous</link:label>
    <link:label xlink:label="ts_OtherCurrentMiscellaneousLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherCurrentMiscellaneousLiabilities</link:label>
    <link:label xlink:label="ts_OtherCurrentMiscellaneousLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other current miscellaneous liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherCurrentMiscellaneousLiabilities" xlink:to="ts_OtherCurrentMiscellaneousLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentEmployeeRelatedLiabilities" xlink:label="ts_CurrentEmployeeRelatedLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentEmployeeRelatedLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Payroll and social security payable</link:label>
    <link:label xlink:label="ts_CurrentEmployeeRelatedLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_CurrentEmployeeRelatedLiabilities</link:label>
    <link:label xlink:label="ts_CurrentEmployeeRelatedLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of current employee related liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentEmployeeRelatedLiabilities" xlink:to="ts_CurrentEmployeeRelatedLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about investments in non-consolidated companies [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about investments in non-consolidated companies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentFinancialAssetsAvailableforsale" xlink:label="ifrs-full_NoncurrentFinancialAssetsAvailableforsale" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentFinancialAssetsAvailableforsale-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentFinancialAssetsAvailableforsale</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentFinancialAssetsAvailableforsale-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current financial assets available-for-sale</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialAssetsAvailableforsale" xlink:to="ifrs-full_NoncurrentFinancialAssetsAvailableforsale-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about selected financial information [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about selected financial information.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of employee benefits [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:to="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherMember" xlink:label="ts_OtherMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other [member]</link:label>
    <link:label xlink:label="ts_OtherMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to other non-consolidated companies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherMember" xlink:to="ts_OtherMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfEntitysRevenue" xlink:label="ifrs-full_PercentageOfEntitysRevenue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PercentageOfEntitysRevenue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PercentageOfEntitysRevenue</link:label>
    <link:label xlink:label="ifrs-full_PercentageOfEntitysRevenue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of entity's revenue</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfEntitysRevenue" xlink:to="ifrs-full_PercentageOfEntitysRevenue-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_MXN" xlink:label="currency_MXN" xlink:type="locator"/>
    <link:label xlink:label="currency_MXN-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mexico, Pesos</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_MXN" xlink:to="currency_MXN-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Key management personnel of entity or parent [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:label="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfGeographicalAreasExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of geographical areas [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:to="ifrs-full_DisclosureOfGeographicalAreasExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="ifrs-full_OtherRelatedPartiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherRelatedPartiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other related parties [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherRelatedPartiesMember" xlink:to="ifrs-full_OtherRelatedPartiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of related parties [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Liabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label xlink:label="ifrs-full_Liabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income before income tax</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income before income tax</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit (loss) before tax</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income before income tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for related parties [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense" xlink:label="ifrs-full_InterestRevenueExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestRevenueExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InterestRevenueExpense</link:label>
    <link:label xlink:label="ifrs-full_InterestRevenueExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income (expense)</link:label>
    <link:label xlink:label="ifrs-full_InterestRevenueExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Interest income (expense)</link:label>
    <link:label xlink:label="ifrs-full_InterestRevenueExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Interest accruals less payments, net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRevenueExpense" xlink:to="ifrs-full_InterestRevenueExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of deferred tax assets and liabilities [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of deferred tax assets and liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:to="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for segment consolidation items [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:label="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EliminationOfIntersegmentAmountsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Elimination of intersegment amounts [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:to="ifrs-full_EliminationOfIntersegmentAmountsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfOperatingSegmentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of operating segments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfOperatingSegmentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SegmentConsolidationItemsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment consolidation items [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_SegmentConsolidationItemsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay" xlink:label="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay" xlink:type="locator"/>
    <link:label xlink:label="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay</link:label>
    <link:label xlink:label="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transportation capacity agreement, purchasing capacity of natural gas per day</link:label>
    <link:label xlink:label="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of purchasing capacity of MMBtu/Gas per day under a transportation capacity agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay" xlink:to="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilitiesFixedAssetsMember" xlink:label="ts_DeferredTaxLiabilitiesFixedAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxLiabilitiesFixedAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities, fixed assets [member]</link:label>
    <link:label xlink:label="ts_DeferredTaxLiabilitiesFixedAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for deferred tax liability attributable to taxable temporary differences from fixed assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxLiabilitiesFixedAssetsMember" xlink:to="ts_DeferredTaxLiabilitiesFixedAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of entity's operating segments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" xlink:label="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities, intangible and other assets [member]</link:label>
    <link:label xlink:label="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for deferred tax liability attributable to taxable temporary differences from intangible assets and other assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" xlink:to="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements" xlink:label="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements" xlink:type="locator"/>
    <link:label xlink:label="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements</link:label>
    <link:label xlink:label="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for exposure to purchase and other service agreements</link:label>
    <link:label xlink:label="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of exposure related to contracts for the purchase of power generation equipment and other services related to the equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements" xlink:to="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilitiesInventoryMember" xlink:label="ts_DeferredTaxLiabilitiesInventoryMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxLiabilitiesInventoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities, inventory [member]</link:label>
    <link:label xlink:label="ts_DeferredTaxLiabilitiesInventoryMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for deferred tax consequences attributable to taxable temporary differences derived from inventory.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxLiabilitiesInventoryMember" xlink:to="ts_DeferredTaxLiabilitiesInventoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForExposureToTransportationCapacityAgreements" xlink:label="ts_ProvisionForExposureToTransportationCapacityAgreements" xlink:type="locator"/>
    <link:label xlink:label="ts_ProvisionForExposureToTransportationCapacityAgreements-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ProvisionForExposureToTransportationCapacityAgreements</link:label>
    <link:label xlink:label="ts_ProvisionForExposureToTransportationCapacityAgreements-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for exposure to transportation capacity agreements</link:label>
    <link:label xlink:label="ts_ProvisionForExposureToTransportationCapacityAgreements-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of exposure risk from transportation capacity agreements.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProvisionForExposureToTransportationCapacityAgreements" xlink:to="ts_ProvisionForExposureToTransportationCapacityAgreements-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about principal non-consolidated companies [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about principal non-consolidated companies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTabLiabilitiesMember" xlink:label="ts_DeferredTabLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTabLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tab liabilities [member]</link:label>
    <link:label xlink:label="ts_DeferredTabLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for deferred tax liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTabLiabilitiesMember" xlink:to="ts_DeferredTabLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsMember" xlink:label="ts_DeferredTaxAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets [member]</link:label>
    <link:label xlink:label="ts_DeferredTaxAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for deferred tax assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxAssetsMember" xlink:to="ts_DeferredTaxAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_MajorBusinessCombinationMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Major business combination [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MajorBusinessCombinationMember" xlink:to="ifrs-full_MajorBusinessCombinationMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NonadjustingEventsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_NonadjustingEventsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsInventoryMember" xlink:label="ts_DeferredTaxAssetsInventoryMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxAssetsInventoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets, inventory [member]</link:label>
    <link:label xlink:label="ts_DeferredTaxAssetsInventoryMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for deferred tax asset attributable to deductible temporary differences from inventory.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxAssetsInventoryMember" xlink:to="ts_DeferredTaxAssetsInventoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsProvisionsAndAllowancesMember" xlink:label="ts_DeferredTaxAssetsProvisionsAndAllowancesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxAssetsProvisionsAndAllowancesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets, provisions and allowances [member]</link:label>
    <link:label xlink:label="ts_DeferredTaxAssetsProvisionsAndAllowancesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for deferred tax asset attributable to deductible temporary differences from provisions and allowances.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxAssetsProvisionsAndAllowancesMember" xlink:to="ts_DeferredTaxAssetsProvisionsAndAllowancesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsOtherMember" xlink:label="ts_DeferredTaxAssetsOtherMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxAssetsOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets, other [member]</link:label>
    <link:label xlink:label="ts_DeferredTaxAssetsOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for deferred tax asset attributable to deductible temporary differences, classified as other.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxAssetsOtherMember" xlink:to="ts_DeferredTaxAssetsOtherMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsTaxLossMember" xlink:label="ts_DeferredTaxAssetsTaxLossMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxAssetsTaxLossMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets, tax loss [member]</link:label>
    <link:label xlink:label="ts_DeferredTaxAssetsTaxLossMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for deferred tax asset attributable to deductible temporary differences from tax loss.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxAssetsTaxLossMember" xlink:to="ts_DeferredTaxAssetsTaxLossMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of events after reporting period [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:label="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of recovery analysis of deferred tax assets and liabilities [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of recovery analysis of deferred tax assets and liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:to="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Used</link:label>
    <link:label xlink:label="ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_EUR" xlink:label="currency_EUR" xlink:type="locator"/>
    <link:label xlink:label="currency_EUR-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro Member Countries, Euro</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_EUR" xlink:to="currency_EUR-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxTextBlock" xlink:label="ts_DeferredTaxTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax [text block]</link:label>
    <link:label xlink:label="ts_DeferredTaxTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of deferred tax.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxTextBlock" xlink:to="ts_DeferredTaxTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about the estimated useful lives of property, plant and equipment [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about the estimated useful lives of property, plant and equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod" xlink:label="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod" xlink:type="locator"/>
    <link:label xlink:label="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod</link:label>
    <link:label xlink:label="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net defined contribution plan liability (asset) at end of period</link:label>
    <link:label xlink:label="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of deficit or surplus in a defined contribution plan, adjusted for any effect of limiting a net defined contribution asset to the asset ceiling.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod" xlink:to="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Canada1Member" xlink:label="ts_Canada1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_Canada1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canada [member]</link:label>
    <link:label xlink:label="ts_Canada1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the country Canada.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_Canada1Member" xlink:to="ts_Canada1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CompanhiaSiderrgicaNacionalMember" xlink:label="ts_CompanhiaSiderrgicaNacionalMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CompanhiaSiderrgicaNacionalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Companhia Sider&#250;rgica Nacional [member]</link:label>
    <link:label xlink:label="ts_CompanhiaSiderrgicaNacionalMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Companhia Sider&#250;rgica Nacional.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CompanhiaSiderrgicaNacionalMember" xlink:to="ts_CompanhiaSiderrgicaNacionalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterests" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterests" xlink:type="locator"/>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TagalongTenderOfferToNoncontrollingInterests</link:label>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tag-along tender offer to non-controlling interests (in BRL per share)</link:label>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The required tag-along tender offer to non-controlling interests in an acquisition.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TagalongTenderOfferToNoncontrollingInterests" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income statement charge / (credit)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterestsPercentage" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage" xlink:type="locator"/>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TagalongTenderOfferToNoncontrollingInterestsPercentage</link:label>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tag-along tender offer to non-controlling interests, percentage</link:label>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The required Tag-along tender offer to non-controlling interests in an acquisition expressed as a percentage of the price per share paid in such acquisition.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition and other changes in non-controlling interests</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterestsShares" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsShares" xlink:type="locator"/>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TagalongTenderOfferToNoncontrollingInterestsShares</link:label>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsShares-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tag-along tender offer to non-controlling interests, shares (in shares)</link:label>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsShares-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The required tag-along tender offer to non-controlling interests in an acquisition expressed in shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TagalongTenderOfferToNoncontrollingInterestsShares" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterestsShares-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability" xlink:type="locator"/>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability</link:label>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tag-along tender offer to non-controlling interests, contingent liability</link:label>
    <link:label xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of the tag-along tender offer to non-controlling interests accounted for as a contingent liability.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain" xlink:type="locator"/>
    <link:label xlink:label="currency_AllCurrenciesDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_AllCurrenciesDomain" xlink:to="currency_AllCurrenciesDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VeracelCeluloseSaMember" xlink:label="ts_VeracelCeluloseSaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_VeracelCeluloseSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Veracel Celulose S.A. [member]</link:label>
    <link:label xlink:label="ts_VeracelCeluloseSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Veracel Celulose S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_VeracelCeluloseSaMember" xlink:to="ts_VeracelCeluloseSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income (loss) for the year</link:label>
    <link:label xlink:label="ifrs-full_ComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total comprehensive income (loss) for the year</link:label>
    <link:label xlink:label="ifrs-full_ComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income for the year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive (loss) income for the year</link:label>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive (loss) income for the year, net of tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaid" xlink:label="ifrs-full_DividendsPaid" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsPaid-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DividendsPaid</link:label>
    <link:label xlink:label="ifrs-full_DividendsPaid-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends recognised as distributions to owners</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaid" xlink:to="ifrs-full_DividendsPaid-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about weighted average interest rates of borrowings [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about weighted average interest rates of borrowings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" xlink:label="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information of the hedge reserve evolution [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information of the hedge reserve evolution.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" xlink:to="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets" xlink:label="ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Addition / (Decrease)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets" xlink:to="ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about the maturity of borrowings [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about the maturity of borrowings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about significant borrowings [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about significant borrowings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <link:label xlink:label="dei_AmendmentFlag-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">One percent change, Saudi Arabian Riyal / U.S. dollar foreign exchange risk [member]</link:label>
    <link:label xlink:label="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a one percent change in Saudi Arabian Riyal / U.S. dollar foreign exchange risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:to="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInCostOfSales" xlink:label="ts_ManagementViewDifferencesInCostOfSales" xlink:type="locator"/>
    <link:label xlink:label="ts_ManagementViewDifferencesInCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Difference in cost of sales</link:label>
    <link:label xlink:label="ts_ManagementViewDifferencesInCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ManagementViewDifferencesInCostOfSales</link:label>
    <link:label xlink:label="ts_ManagementViewDifferencesInCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Differences in cost of sales under management view.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ManagementViewDifferencesInCostOfSales" xlink:to="ts_ManagementViewDifferencesInCostOfSales-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses" xlink:label="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses" xlink:type="locator"/>
    <link:label xlink:label="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Differences in selling, general and administrative expenses</link:label>
    <link:label xlink:label="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses</link:label>
    <link:label xlink:label="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Differences in selling, general and administrative expenses under management view.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses" xlink:to="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets</link:label>
    <link:label xlink:label="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets" xlink:to="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet" xlink:label="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet" xlink:type="locator"/>
    <link:label xlink:label="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Differences in other operating income (expenses), net</link:label>
    <link:label xlink:label="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet</link:label>
    <link:label xlink:label="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Differences in net other operating income (expenses) under management view.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet" xlink:to="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_CurrentFiscalYearEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets</link:label>
    <link:label xlink:label="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets" xlink:to="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of fair value measurement of assets [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalPeriodFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalYearFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentPeriodEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers / Reclassifications</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityEmergingGrowthCompany-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentType-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DisposalsIntangibleAssetsAndGoodwill</link:label>
    <link:label xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Disposals</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_DisposalsIntangibleAssetsAndGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityShellCompany-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany-label" xlink:type="arc"/>
	<link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentAnnualReport-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Annual Report</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentTransitionReport-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentShellCompanyReport-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Shell Company Report</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationTable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of finance income (cost) [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityFilerCategory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCurrentReportingStatus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityVoluntaryFilers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityWellKnownSeasonedIssuer-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCentralIndexKey-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityRegistrantName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:label xlink:label="dei_LegalEntityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCommonStockSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherExpenseByFunction-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other expense</link:label>
    <link:label xlink:label="ifrs-full_OtherExpenseByFunction-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherExpenseByFunction</link:label>
    <link:label xlink:label="ifrs-full_OtherExpenseByFunction-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other operating expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByFunction" xlink:to="ifrs-full_OtherExpenseByFunction-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other operating income</link:label>
    <link:label xlink:label="ifrs-full_OtherIncome-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIncome" xlink:to="ifrs-full_OtherIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Tax income (expense)</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncomeTaxExpenseContinuingOperations</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax charge</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Income tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
    <link:label xlink:label="dei_TradingSymbol-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Benefits paid from the plan</link:label>
    <link:label xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Benefits paid from the plan</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Contributions paid to the plan</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return on plan assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current service cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest cost</link:label>
    <link:label xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Interest accrued</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ContinuingOperationsAbstract" xlink:label="ts_ContinuingOperationsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_ContinuingOperationsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ts_ContinuingOperationsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DiscontinuedOperationsAbstract" xlink:label="ts_DiscontinuedOperationsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_DiscontinuedOperationsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discontinued operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DiscontinuedOperationsAbstract" xlink:to="ts_DiscontinuedOperationsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:label="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_ContinuingAndDiscontinuedOperationsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing and discontinued operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:to="ts_ContinuingAndDiscontinuedOperationsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial instruments by type of interest rate [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassifications</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:type="locator"/>
    <link:label xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income before equity in earnings of non-consolidated companies and income tax</link:label>
    <link:label xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax</link:label>
    <link:label xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income before equity in earnings of non-consolidated companies and income tax</link:label>
    <link:label xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The (loss) income before equity in earnings of non-consolidated companies and income tax.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:to="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" xlink:label="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic and diluted earnings per ADS (U.S. dollars per ADS) (in dollars per share)</link:label>
    <link:label xlink:label="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of Basic and diluted earnings (losses) per ADS from continuing operations. Each ADS equals two shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" xlink:to="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BasicAndDilutedEarningsLossesPerAds" xlink:label="ts_BasicAndDilutedEarningsLossesPerAds" xlink:type="locator"/>
    <link:label xlink:label="ts_BasicAndDilutedEarningsLossesPerAds-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_BasicAndDilutedEarningsLossesPerAds</link:label>
    <link:label xlink:label="ts_BasicAndDilutedEarningsLossesPerAds-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic and diluted earnings per ADS (U.S. dollars per ADS) (*) (in dollars per share)</link:label>
    <link:label xlink:label="ts_BasicAndDilutedEarningsLossesPerAds-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of Basic and diluted earnings (losses) per ADS. Each ADS equals two shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_BasicAndDilutedEarningsLossesPerAds" xlink:to="ts_BasicAndDilutedEarningsLossesPerAds-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">- Changes in the fair value of derivatives held as cash flow hedges and others</link:label>
    <link:label xlink:label="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other comprehensive income, before tax, attributable to non-consolidated companies related to derivatives held as cash flow hedges and others.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:to="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ComprehensiveIncomeFromContinuingOperations" xlink:label="ts_ComprehensiveIncomeFromContinuingOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_ComprehensiveIncomeFromContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ComprehensiveIncomeFromContinuingOperations</link:label>
    <link:label xlink:label="ts_ComprehensiveIncomeFromContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Continuing operations</link:label>
    <link:label xlink:label="ts_ComprehensiveIncomeFromContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of change in equity from continuing operations resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ComprehensiveIncomeFromContinuingOperations" xlink:to="ts_ComprehensiveIncomeFromContinuingOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProvisionUsedOtherProvisions" xlink:label="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProvisionUsedOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Used</link:label>
    <link:label xlink:label="ifrs-full_ProvisionUsedOtherProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Used</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProvisionUsedOtherProvisions" xlink:to="ifrs-full_ProvisionUsedOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies</link:label>
    <link:label xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">- Currency translation adjustment</link:label>
    <link:label xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:label xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other comprehensive income (loss), before tax, attributable to non-consolidated companies related to exchange differences when financial statements of foreign operations are translated</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:to="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:label="ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment</link:label>
    <link:label xlink:label="ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Disposals / Consumptions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:to="ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:label="ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_ComprehensiveIncomeFromDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ComprehensiveIncomeFromDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_ComprehensiveIncomeFromDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discontinued operations</link:label>
    <link:label xlink:label="ts_ComprehensiveIncomeFromDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of change in equity from discontinued operations resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:to="ts_ComprehensiveIncomeFromDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:label="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total comprehensive income (loss) for the year attributable to Owners of the parent arises from</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:to="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Transfers / Reclassifications</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Depreciation charge</link:label>
    <link:label xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DepreciationPropertyPlantAndEquipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfTranslationDifferencesOnLongtermBorrowings" xlink:label="ts_EffectOfTranslationDifferencesOnLongtermBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfTranslationDifferencesOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Translation differences, noncurrent</link:label>
    <link:label xlink:label="ts_EffectOfTranslationDifferencesOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the non-current portion of non-current borrowings resulting from translation differences.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfTranslationDifferencesOnLongtermBorrowings" xlink:to="ts_EffectOfTranslationDifferencesOnLongtermBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Translation differences, current</link:label>
    <link:label xlink:label="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the current borrowings and current portion of non-current borrowings resulting from translation differences.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interests Accrued less payments, noncurrent</link:label>
    <link:label xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the non-current portion of non-current borrowings resulting from interests accrued net of payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" xlink:to="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interests Accrued less payments, current</link:label>
    <link:label xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the non-current portion of non-current borrowings resulting from interests accrued net of payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds and repayments, net, noncurrent</link:label>
    <link:label xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the non-current portion of non-current borrowings resulting from net proceeds and repayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" xlink:to="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds and repayments, net, current</link:label>
    <link:label xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the total current borrowings and current portion of non-current borrowings resulting from net proceeds and repayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:label="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial instruments measured at fair value through profit or loss because credit derivative is used to manage credit risk [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:to="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:label="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial instruments measured at fair value through profit or loss because credit derivative is used to manage credit risk [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:to="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfReclassificationsOnLongtermBorrowings" xlink:label="ts_EffectOfReclassificationsOnLongtermBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfReclassificationsOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassifications, noncurrent</link:label>
    <link:label xlink:label="ts_EffectOfReclassificationsOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the non-current portion of non-current borrowings resulting from reclassifications.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfReclassificationsOnLongtermBorrowings" xlink:to="ts_EffectOfReclassificationsOnLongtermBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassifications, current</link:label>
    <link:label xlink:label="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the total current borrowings and current portion of non-current borrowings resulting from reclassifications.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfBorrowingsEvolutionTextBlock" xlink:label="ts_DisclosureOfBorrowingsEvolutionTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfBorrowingsEvolutionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of borrowings evolution [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfBorrowingsEvolutionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entire disclosure for borrowings changes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfBorrowingsEvolutionTextBlock" xlink:to="ts_DisclosureOfBorrowingsEvolutionTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfOverdraftsVariationOnLongtermBorrowings" xlink:label="ts_EffectOfOverdraftsVariationOnLongtermBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfOverdraftsVariationOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Overdrafts variation, noncurrent</link:label>
    <link:label xlink:label="ts_EffectOfOverdraftsVariationOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the non-current portion of non-current borrowings resulting from overdrafts variation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfOverdraftsVariationOnLongtermBorrowings" xlink:to="ts_EffectOfOverdraftsVariationOnLongtermBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Overdrafts variation, current</link:label>
    <link:label xlink:label="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the current borrowings and current portion of non-current borrowings resulting from overdrafts variation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TrademarksMember" xlink:label="ts_TrademarksMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TrademarksMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trademarks [member]</link:label>
    <link:label xlink:label="ts_TrademarksMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding trademarks.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TrademarksMember" xlink:to="ts_TrademarksMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer-related intangible assets [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets" xlink:label="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets</link:label>
    <link:label xlink:label="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency translation adjustment and others</link:label>
    <link:label xlink:label="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the fair value measurement of assets resulting from currency translation adjustments and others.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets" xlink:to="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ConstructionInProgressMember" xlink:label="ifrs-full_ConstructionInProgressMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ConstructionInProgressMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Construction in progress [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConstructionInProgressMember" xlink:to="ifrs-full_ConstructionInProgressMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:label="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="ts_IndustrialBuildingsPlantAndProductionEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial buildings, plant and production equipment [member]</link:label>
    <link:label xlink:label="ts_IndustrialBuildingsPlantAndProductionEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the industrial buildings, plant and production equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:to="ts_IndustrialBuildingsPlantAndProductionEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LandAndCivilBuildingsMember" xlink:label="ts_LandAndCivilBuildingsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_LandAndCivilBuildingsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land and civil buildings [member]</link:label>
    <link:label xlink:label="ts_LandAndCivilBuildingsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding land and civil buildings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LandAndCivilBuildingsMember" xlink:to="ts_LandAndCivilBuildingsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" xlink:label="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease / increase in equity reserves and others</link:label>
    <link:label xlink:label="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity's share of the other comprehensive income of associates and joint ventures accounted for using the equity method, including dividends declared, net of tax.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" xlink:to="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativesMember" xlink:label="ifrs-full_DerivativesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DerivativesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativesMember" xlink:to="ifrs-full_DerivativesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ifrs-full_ClassesOfAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GoodwillMember" xlink:label="ifrs-full_GoodwillMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GoodwillMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillMember" xlink:to="ifrs-full_GoodwillMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GlobalPandemicMember" xlink:label="ts_GlobalPandemicMember" xlink:type="locator"/>
    <link:label xlink:label="ts_GlobalPandemicMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Global pandemic [member]</link:label>
    <link:label xlink:label="ts_GlobalPandemicMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents global pandemic.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_GlobalPandemicMember" xlink:to="ts_GlobalPandemicMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfAssetsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of assets [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:label="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LegalProceedingsContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal proceedings contingent liability [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:to="ifrs-full_LegalProceedingsContingentLiabilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrencyTranslationAdjustmentMember" xlink:label="ts_CurrencyTranslationAdjustmentMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrencyTranslationAdjustmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency translation adjustment [member]</link:label>
    <link:label xlink:label="ts_CurrencyTranslationAdjustmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents currency translation adjustment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrencyTranslationAdjustmentMember" xlink:to="ts_CurrencyTranslationAdjustmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxContingentLiabilityMember" xlink:label="ifrs-full_TaxContingentLiabilityMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TaxContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxContingentLiabilityMember" xlink:to="ifrs-full_TaxContingentLiabilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LegalReservesMember" xlink:label="ts_LegalReservesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_LegalReservesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal reserves [member]</link:label>
    <link:label xlink:label="ts_LegalReservesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents legal reserves.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LegalReservesMember" xlink:to="ts_LegalReservesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfContingentLiabilitiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of contingent liabilities [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_ClassesOfContingentLiabilitiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContingentLiabilitiesMember" xlink:label="ifrs-full_ContingentLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ContingentLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingent liabilities [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ifrs-full_ContingentLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ImpairmentOfAssetsMember" xlink:label="ts_ImpairmentOfAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ImpairmentOfAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment of assets [member]</link:label>
    <link:label xlink:label="ts_ImpairmentOfAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents impairment of assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ImpairmentOfAssetsMember" xlink:to="ts_ImpairmentOfAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_JfeMember" xlink:label="ts_JfeMember" xlink:type="locator"/>
    <link:label xlink:label="ts_JfeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">JFE [member]</link:label>
    <link:label xlink:label="ts_JfeMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents JFE.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_JfeMember" xlink:to="ts_JfeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WorkInProgress" xlink:label="ifrs-full_WorkInProgress" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WorkInProgress-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goods in process</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WorkInProgress" xlink:to="ifrs-full_WorkInProgress-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate</link:label>
    <link:label xlink:label="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label xlink:label="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount recognised as of the acquisition date for other liabilities assumed in a business combination.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:label="ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ts_ProvisionsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ProvisionsRecognisedAsOfAcquisitionDate</link:label>
    <link:label xlink:label="ts_ProvisionsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Provisions</link:label>
    <link:label xlink:label="ts_ProvisionsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount recognised as of the acquisition date for provisions assumed in a business combination.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:to="ts_ProvisionsRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherAssetsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label xlink:label="ts_OtherAssetsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount recognised as of the acquisition date for other assets acquired in a business combination.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:to="ts_OtherAssetsRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ContinuingOperations1Member" xlink:label="ts_ContinuingOperations1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_ContinuingOperations1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing operations 1 [member]</link:label>
    <link:label xlink:label="ts_ContinuingOperations1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represent continuing operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ContinuingOperations1Member" xlink:to="ts_ContinuingOperations1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets, class [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ifrs-full_FinancialAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialGuaranteeContractsMember" xlink:label="ifrs-full_FinancialGuaranteeContractsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialGuaranteeContractsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial guarantee contracts [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialGuaranteeContractsMember" xlink:to="ifrs-full_FinancialGuaranteeContractsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial assets [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_ClassesOfFinancialAssetsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial instruments [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial instruments, class [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of intangible assets and goodwill [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MovementInCashAndCashEquivalentsAbstract" xlink:label="ts_MovementInCashAndCashEquivalentsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_MovementInCashAndCashEquivalentsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Movement in cash and cash equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ts_MovementInCashAndCashEquivalentsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInventoriesInTransit" xlink:label="ifrs-full_CurrentInventoriesInTransit" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentInventoriesInTransit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goods in transit</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInventoriesInTransit" xlink:to="ifrs-full_CurrentInventoriesInTransit-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PropertyPlantAndEquipmentCapitalizedInterest" xlink:label="ts_PropertyPlantAndEquipmentCapitalizedInterest" xlink:type="locator"/>
    <link:label xlink:label="ts_PropertyPlantAndEquipmentCapitalizedInterest-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_PropertyPlantAndEquipmentCapitalizedInterest</link:label>
    <link:label xlink:label="ts_PropertyPlantAndEquipmentCapitalizedInterest-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, capitalized interest</link:label>
    <link:label xlink:label="ts_PropertyPlantAndEquipmentCapitalizedInterest-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of capitalized interest included in property, plant and equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PropertyPlantAndEquipmentCapitalizedInterest" xlink:to="ts_PropertyPlantAndEquipmentCapitalizedInterest-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinishedGoods" xlink:label="ifrs-full_FinishedGoods" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinishedGoods-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finished goods</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinishedGoods" xlink:to="ifrs-full_FinishedGoods-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductionSupplies" xlink:label="ifrs-full_ProductionSupplies" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProductionSupplies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductionSupplies" xlink:to="ifrs-full_ProductionSupplies-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SparePartsAndEquipmentMember" xlink:label="ts_SparePartsAndEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SparePartsAndEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Spare parts and equipment [member]</link:label>
    <link:label xlink:label="ts_SparePartsAndEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a class of property, plant and equipment representing spare parts and equipment used in the entity's operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SparePartsAndEquipmentMember" xlink:to="ts_SparePartsAndEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RawMaterials" xlink:label="ifrs-full_RawMaterials" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RawMaterials-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Raw materials</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RawMaterials" xlink:to="ifrs-full_RawMaterials-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VehiclesFurnitureAndFixturesMember" xlink:label="ts_VehiclesFurnitureAndFixturesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_VehiclesFurnitureAndFixturesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vehicles, furniture and fixtures [member]</link:label>
    <link:label xlink:label="ts_VehiclesFurnitureAndFixturesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a class of property, plant and equipment representing vehicles and furniture and fixtures used in the entity's operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_VehiclesFurnitureAndFixturesMember" xlink:to="ts_VehiclesFurnitureAndFixturesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesMember" xlink:to="ifrs-full_LiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfLiabilitiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of liabilities [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ifrs-full_ClassesOfLiabilitiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Values at the beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_OtherProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Values at the end of the year</link:label>
    <link:label xlink:label="ifrs-full_OtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherProvisions</link:label>
    <link:label xlink:label="ifrs-full_OtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total other provisions</link:label>
    <link:label xlink:label="ifrs-full_OtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Values at the beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_OtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Values at the end of the year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherProvisions" xlink:to="ifrs-full_OtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewOperatingIncome" xlink:label="ts_ManagementViewOperatingIncome" xlink:type="locator"/>
    <link:label xlink:label="ts_ManagementViewOperatingIncome-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Management view - operating income</link:label>
    <link:label xlink:label="ts_ManagementViewOperatingIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ManagementViewOperatingIncome</link:label>
    <link:label xlink:label="ts_ManagementViewOperatingIncome-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating income under management view.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ManagementViewOperatingIncome" xlink:to="ts_ManagementViewOperatingIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubesMember" xlink:label="ts_TubesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TubesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tubes [member]</link:label>
    <link:label xlink:label="ts_TubesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Segment classified as "Tubes".</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TubesMember" xlink:to="ts_TubesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInDepreciationAndAmortization" xlink:label="ts_ManagementViewDifferencesInDepreciationAndAmortization" xlink:type="locator"/>
    <link:label xlink:label="ts_ManagementViewDifferencesInDepreciationAndAmortization-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Differences in depreciation and amortization</link:label>
    <link:label xlink:label="ts_ManagementViewDifferencesInDepreciationAndAmortization-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ManagementViewDifferencesInDepreciationAndAmortization</link:label>
    <link:label xlink:label="ts_ManagementViewDifferencesInDepreciationAndAmortization-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Differences in depreciation and amortization under management view.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ManagementViewDifferencesInDepreciationAndAmortization" xlink:to="ts_ManagementViewDifferencesInDepreciationAndAmortization-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial instruments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceIncomeCostDiscontinuedOperations" xlink:label="ts_FinanceIncomeCostDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_FinanceIncomeCostDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">From discontinued operations</link:label>
    <link:label xlink:label="ts_FinanceIncomeCostDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of income or cost associated with interest and other financing activities of the entity attributable to discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FinanceIncomeCostDiscontinuedOperations" xlink:to="ts_FinanceIncomeCostDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">One percent change, Argentine Peso / U.S. dollar foreign exchange risk [member]</link:label>
    <link:label xlink:label="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a one percent change in Argentine Peso / U.S. dollar foreign exchange risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:to="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TermOfSupplyContract" xlink:label="ts_TermOfSupplyContract" xlink:type="locator"/>
    <link:label xlink:label="ts_TermOfSupplyContract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TermOfSupplyContract</link:label>
    <link:label xlink:label="ts_TermOfSupplyContract-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term of supply contract (Year)</link:label>
    <link:label xlink:label="ts_TermOfSupplyContract-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The term of a supply contract.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TermOfSupplyContract" xlink:to="ts_TermOfSupplyContract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfAuditorsRemunerationTextBlock" xlink:label="ts_DisclosureOfAuditorsRemunerationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfAuditorsRemunerationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of auditor's remuneration [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfAuditorsRemunerationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of auditor's remuneration.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfAuditorsRemunerationTextBlock" xlink:to="ts_DisclosureOfAuditorsRemunerationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FairValueOfFundedPostemploymentBenefitsMember" xlink:label="ts_FairValueOfFundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_FairValueOfFundedPostemploymentBenefitsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of funded post-employment benefits [member]</link:label>
    <link:label xlink:label="ts_FairValueOfFundedPostemploymentBenefitsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for the fair value of funded post-employment benefits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FairValueOfFundedPostemploymentBenefitsMember" xlink:to="ts_FairValueOfFundedPostemploymentBenefitsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AuditorsRemunerationForAuditrelatedFees" xlink:label="ts_AuditorsRemunerationForAuditrelatedFees" xlink:type="locator"/>
    <link:label xlink:label="ts_AuditorsRemunerationForAuditrelatedFees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Audit-related fees</link:label>
    <link:label xlink:label="ts_AuditorsRemunerationForAuditrelatedFees-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of fees paid or payable to the entity's auditors for other audit-related fees.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AuditorsRemunerationForAuditrelatedFees" xlink:to="ts_AuditorsRemunerationForAuditrelatedFees-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">One percent change, Euro / U.S. dollar foreign exchange risk [member]</link:label>
    <link:label xlink:label="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a one percent change in Euro / U.S. dollar foreign exchange risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:to="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MiscellaneousOtherProvisionsMember" xlink:label="ifrs-full_MiscellaneousOtherProvisionsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_MiscellaneousOtherProvisionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Miscellaneous other provisions [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MiscellaneousOtherProvisionsMember" xlink:to="ifrs-full_MiscellaneousOtherProvisionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of general and administrative expense [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:label="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Tax accrued</link:label>
    <link:label xlink:label="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of income taxes accrued, including portion related to the sale of discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:to="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherProvisionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other provisions [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ifrs-full_OtherProvisionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of general information about financial statements [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfProvisionsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of other provisions [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_ClassesOfProvisionsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfShareCapitalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share capital [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_ClassesOfShareCapitalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfShareCapitalAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of share capital [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransportadoraDeGasDelNorteSaMember" xlink:label="ts_TransportadoraDeGasDelNorteSaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TransportadoraDeGasDelNorteSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transportadora de Gas del Norte S.A. [member]</link:label>
    <link:label xlink:label="ts_TransportadoraDeGasDelNorteSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Transportadora de Gas del Norte S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TransportadoraDeGasDelNorteSaMember" xlink:to="ts_TransportadoraDeGasDelNorteSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PreferenceSharesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preference shares [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PreferenceSharesMember" xlink:to="ifrs-full_PreferenceSharesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PraxairSAMember" xlink:label="ts_PraxairSAMember" xlink:type="locator"/>
    <link:label xlink:label="ts_PraxairSAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Praxair S.A. [member]</link:label>
    <link:label xlink:label="ts_PraxairSAMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the company Praxair S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PraxairSAMember" xlink:to="ts_PraxairSAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GraftechMember" xlink:label="ts_GraftechMember" xlink:type="locator"/>
    <link:label xlink:label="ts_GraftechMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Graftech [member]</link:label>
    <link:label xlink:label="ts_GraftechMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the company Graftech.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_GraftechMember" xlink:to="ts_GraftechMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" xlink:label="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of events after reporting period and approval date [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entire disclosure for events after the reporting period and subsequent to the approval of the financial statements by the board of directors.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" xlink:to="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="ifrs-full_NoncontrollingInterestsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncontrollingInterestsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-controlling interests [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestsMember" xlink:to="ifrs-full_NoncontrollingInterestsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RetainedEarningsMember" xlink:label="ifrs-full_RetainedEarningsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RetainedEarningsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RemainingLeasePaymentsToBeMadePercentage" xlink:label="ts_RemainingLeasePaymentsToBeMadePercentage" xlink:type="locator"/>
    <link:label xlink:label="ts_RemainingLeasePaymentsToBeMadePercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RemainingLeasePaymentsToBeMadePercentage</link:label>
    <link:label xlink:label="ts_RemainingLeasePaymentsToBeMadePercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining lease payments to be made, percentage</link:label>
    <link:label xlink:label="ts_RemainingLeasePaymentsToBeMadePercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of total remaining payments to be made.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RemainingLeasePaymentsToBeMadePercentage" xlink:to="ts_RemainingLeasePaymentsToBeMadePercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ImpairmentLoss" xlink:label="ifrs-full_ImpairmentLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ImpairmentLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ImpairmentLoss</link:label>
    <link:label xlink:label="ifrs-full_ImpairmentLoss-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLoss" xlink:to="ifrs-full_ImpairmentLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash-generating units [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for cash-generating units [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SharePremiumMember" xlink:label="ifrs-full_SharePremiumMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SharePremiumMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share premium [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharePremiumMember" xlink:to="ifrs-full_SharePremiumMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherReservesMember" xlink:label="ifrs-full_OtherReservesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherReservesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other reserves [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReservesMember" xlink:to="ifrs-full_OtherReservesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:label="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of information for cash-generating units [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:to="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GarrettMember" xlink:label="ts_GarrettMember" xlink:type="locator"/>
    <link:label xlink:label="ts_GarrettMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Garrett [member]</link:label>
    <link:label xlink:label="ts_GarrettMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Garrett.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_GarrettMember" xlink:to="ts_GarrettMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityMember" xlink:label="ifrs-full_EquityMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EquityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_EquityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ifrs-full_ComponentsOfEquityAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComponentsOfEquityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of equity [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_ComponentsOfEquityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IssuedCapitalMember" xlink:label="ifrs-full_IssuedCapitalMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IssuedCapitalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity attributable to owners of parent [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:to="ifrs-full_EquityAttributableToOwnersOfParentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts" xlink:label="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts" xlink:type="locator"/>
    <link:label xlink:label="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts</link:label>
    <link:label xlink:label="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated annual savings from the reduction of fixed costs</link:label>
    <link:label xlink:label="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The estimated annual savings amount from the reduction of fixed costs.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts" xlink:to="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:label="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash received</link:label>
    <link:label xlink:label="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gross cash inflow from the disposal of non-current assets or disposal groups classified as held for sale and discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:to="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in value of instruments at fair value through other comprehensive income and cash flow hedges, net of taxes</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" xlink:label="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of discontinued operations net income components [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of discontinued operations net income components.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" xlink:to="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetAssetsSoldInDisposalCarryingAmount" xlink:label="ts_NetAssetsSoldInDisposalCarryingAmount" xlink:type="locator"/>
    <link:label xlink:label="ts_NetAssetsSoldInDisposalCarryingAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NetAssetsSoldInDisposalCarryingAmount</link:label>
    <link:label xlink:label="ts_NetAssetsSoldInDisposalCarryingAmount-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Carrying amount of net assets sold</link:label>
    <link:label xlink:label="ts_NetAssetsSoldInDisposalCarryingAmount-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of net assets sold during the period in a disposal at carrying value.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NetAssetsSoldInDisposalCarryingAmount" xlink:to="ts_NetAssetsSoldInDisposalCarryingAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations" xlink:label="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Transaction and other costs</link:label>
    <link:label xlink:label="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of transaction and other costs related to disposals of discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations" xlink:to="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses" xlink:label="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses" xlink:type="locator"/>
    <link:label xlink:label="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses</link:label>
    <link:label xlink:label="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reduction of capital expenditures and research and development expenses</link:label>
    <link:label xlink:label="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of reduction in capital expenditures and research and development expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses" xlink:to="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:label xlink:label="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain on sale before income tax</link:label>
    <link:label xlink:label="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gross gain (loss) recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:to="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation</link:label>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency translation adjustment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetCashPositionMember" xlink:label="ts_NetCashPositionMember" xlink:type="locator"/>
    <link:label xlink:label="ts_NetCashPositionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net cash position [member]</link:label>
    <link:label xlink:label="ts_NetCashPositionMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for net cash position.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NetCashPositionMember" xlink:to="ts_NetCashPositionMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxEffectFromChangeInTaxRate" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes in the tax rates</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:to="ifrs-full_TaxEffectFromChangeInTaxRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency translation adjustment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Items that may be subsequently reclassified to profit or loss:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxEffectOfTaxLosses" xlink:label="ifrs-full_TaxEffectOfTaxLosses" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TaxEffectOfTaxLosses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Utilization of previously unrecognized tax losses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectOfTaxLosses" xlink:to="ifrs-full_TaxEffectOfTaxLosses-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Remeasurements of post employment benefit obligations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax calculated at the tax rate in each country</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:to="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Remeasurements of post employment benefit obligations, net of taxes</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Items that will not be reclassified to profit or loss:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests</link:label>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Owners of the parent</link:label>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total comprehensive income for the year, net of tax, attributable to owners of the parent</link:label>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to owners of parent</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total comprehensive income (loss) for the year attributable to:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:label="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised</link:label>
    <link:label xlink:label="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unused tax losses for which no deferred tax asset recognised</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:to="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:label="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance</link:label>
    <link:label xlink:label="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income tax expense on gain</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:to="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SignificantBorrowingsAsOfClosingDateMember" xlink:label="ts_SignificantBorrowingsAsOfClosingDateMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SignificantBorrowingsAsOfClosingDateMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant borrowings as of closing date [member]</link:label>
    <link:label xlink:label="ts_SignificantBorrowingsAsOfClosingDateMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding significant borrowings as of closing date.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SignificantBorrowingsAsOfClosingDateMember" xlink:to="ts_SignificantBorrowingsAsOfClosingDateMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of income tax [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:to="ifrs-full_DisclosureOfIncomeTaxExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing and discontinued operations [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingAndDiscontinuedOperationsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" xlink:label="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of sale of discontinued operations [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The complete disclosure of the sale of discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" xlink:to="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisConnectionsBvMember" xlink:label="ts_TenarisConnectionsBvMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisConnectionsBvMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS CONNECTIONS BV [member]</link:label>
    <link:label xlink:label="ts_TenarisConnectionsBvMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS CONNECTIONS BV.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisConnectionsBvMember" xlink:to="ts_TenarisConnectionsBvMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContractLiabilities" xlink:label="ifrs-full_ContractLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ContractLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ContractLiabilities</link:label>
    <link:label xlink:label="ifrs-full_ContractLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total contract liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContractLiabilities" xlink:to="ifrs-full_ContractLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PrudentialSteelLtdMember" xlink:label="ts_PrudentialSteelLtdMember" xlink:type="locator"/>
    <link:label xlink:label="ts_PrudentialSteelLtdMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PRUDENTIAL STEEL LTD. [member]</link:label>
    <link:label xlink:label="ts_PrudentialSteelLtdMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity PRUDENTIAL STEEL LTD.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PrudentialSteelLtdMember" xlink:to="ts_PrudentialSteelLtdMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cost of sales</link:label>
    <link:label xlink:label="ifrs-full_CostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CostOfSales</link:label>
    <link:label xlink:label="ifrs-full_CostOfSales-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cost of sales</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CostOfSales" xlink:to="ifrs-full_CostOfSales-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest" xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest" xlink:type="locator"/>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nationalization of subsidiaries, compensation award post-award interest</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of post-award interest for compensation for the nationalization of subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest" xlink:to="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CounterpartiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparties [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CounterpartiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparties [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ifrs-full_CounterpartiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CreditExposure" xlink:label="ifrs-full_CreditExposure" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CreditExposure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CreditExposure</link:label>
    <link:label xlink:label="ifrs-full_CreditExposure-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit exposure</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CreditExposure" xlink:to="ifrs-full_CreditExposure-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:label="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:type="locator"/>
    <link:label xlink:label="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unfunded defined benefit employee retirement plan for certain senior officers [member]</link:label>
    <link:label xlink:label="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the unfunded defined benefit employee retirement plan for certain senior officers.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:to="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations" xlink:label="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">From discontinued operations</link:label>
    <link:label xlink:label="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The tax expense relating to the profit (loss) arising from ordinary activities of discontinued operations and on the tax expense relating to the gain (loss) on discontinuance when operations are discontinued.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations" xlink:to="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAdvances" xlink:label="ifrs-full_CurrentAdvances" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentAdvances-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Customer advances</link:label>
    <link:label xlink:label="ifrs-full_CurrentAdvances-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentAdvances</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAdvances" xlink:to="ifrs-full_CurrentAdvances-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</link:label>
    <link:label xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentDerivativeFinancialLiabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentDerivativeFinancialAssets" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentDerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</link:label>
    <link:label xlink:label="ifrs-full_CurrentDerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentDerivativeFinancialAssets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialAssets" xlink:to="ifrs-full_CurrentDerivativeFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other investments - current</link:label>
    <link:label xlink:label="ifrs-full_CurrentInvestments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other investments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInvestments" xlink:to="ifrs-full_CurrentInvestments-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLeaseLiabilities" xlink:label="ifrs-full_CurrentLeaseLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentLeaseLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Lease liabilities</link:label>
    <link:label xlink:label="ifrs-full_CurrentLeaseLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentLeaseLiabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:label="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities of disposal group classified as held for sale</link:label>
    <link:label xlink:label="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:to="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentProvisions" xlink:label="ifrs-full_CurrentProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentProvisions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Provisions</link:label>
    <link:label xlink:label="ifrs-full_CurrentProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentProvisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentProvisions" xlink:to="ifrs-full_CurrentProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Current tax liabilities</link:label>
    <link:label xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentTaxLiabilitiesCurrent</link:label>
    <link:label xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current tax liabilities, current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="ifrs-full_TradeAndOtherCurrentPayables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentPayables-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Trade payables</link:label>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentPayables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade payables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayables" xlink:to="ifrs-full_TradeAndOtherCurrentPayables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets, net</link:label>
    <link:label xlink:label="ifrs-full_IntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IntangibleAssetsAndGoodwill</link:label>
    <link:label xlink:label="ifrs-full_IntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total intangible assets and goodwill</link:label>
    <link:label xlink:label="ifrs-full_IntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Values at the beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_IntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Values at the end of the year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentValueAddedTaxPayables" xlink:label="ifrs-full_CurrentValueAddedTaxPayables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentValueAddedTaxPayables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">V.A.T. liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentValueAddedTaxPayables" xlink:to="ifrs-full_CurrentValueAddedTaxPayables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NorthAmerica1Member" xlink:label="ts_NorthAmerica1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_NorthAmerica1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North America [member]</link:label>
    <link:label xlink:label="ts_NorthAmerica1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Continent of North America.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NorthAmerica1Member" xlink:to="ts_NorthAmerica1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SouthAmerica1Member" xlink:label="ts_SouthAmerica1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_SouthAmerica1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South America [member]</link:label>
    <link:label xlink:label="ts_SouthAmerica1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Continent of South America.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SouthAmerica1Member" xlink:to="ts_SouthAmerica1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AsiaPacific1Member" xlink:label="ts_AsiaPacific1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_AsiaPacific1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asia Pacific [member]</link:label>
    <link:label xlink:label="ts_AsiaPacific1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Region of Asia Pacific.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AsiaPacific1Member" xlink:to="ts_AsiaPacific1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnallocatedRegionMember" xlink:label="ts_UnallocatedRegionMember" xlink:type="locator"/>
    <link:label xlink:label="ts_UnallocatedRegionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unallocated region [member]</link:label>
    <link:label xlink:label="ts_UnallocatedRegionMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents an unallocated region.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UnallocatedRegionMember" xlink:to="ts_UnallocatedRegionMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Europe1Member" xlink:label="ts_Europe1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_Europe1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Europe [member]</link:label>
    <link:label xlink:label="ts_Europe1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Continent of Europe.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_Europe1Member" xlink:to="ts_Europe1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables and prepayments, net</link:label>
    <link:label xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current prepayments and other current assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MiddleEastAndAfricaMember" xlink:label="ts_MiddleEastAndAfricaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_MiddleEastAndAfricaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Middle East and Africa [member]</link:label>
    <link:label xlink:label="ts_MiddleEastAndAfricaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Regions of the Middle East and Africa.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_MiddleEastAndAfricaMember" xlink:to="ts_MiddleEastAndAfricaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentValueAddedTaxReceivables" xlink:label="ifrs-full_CurrentValueAddedTaxReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentValueAddedTaxReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">V.A.T. credits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentValueAddedTaxReceivables" xlink:to="ifrs-full_CurrentValueAddedTaxReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrillAcquisitionMember" xlink:label="ts_HydrillAcquisitionMember" xlink:type="locator"/>
    <link:label xlink:label="ts_HydrillAcquisitionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hydrill acquisition [member]</link:label>
    <link:label xlink:label="ts_HydrillAcquisitionMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the Hydrill acquisition.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_HydrillAcquisitionMember" xlink:to="ts_HydrillAcquisitionMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OCTGUSAMember" xlink:label="ts_OCTGUSAMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OCTGUSAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">OCTG (USA) [member]</link:label>
    <link:label xlink:label="ts_OCTGUSAMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash generating unit OCTG (USA).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OCTGUSAMember" xlink:to="ts_OCTGUSAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickAcquisitionMember" xlink:label="ts_MaverickAcquisitionMember" xlink:type="locator"/>
    <link:label xlink:label="ts_MaverickAcquisitionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maverick acquisition [member]</link:label>
    <link:label xlink:label="ts_MaverickAcquisitionMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the Maverick acquisition.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_MaverickAcquisitionMember" xlink:to="ts_MaverickAcquisitionMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="ifrs-full_CurrentTaxExpenseIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentTaxExpenseIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncome" xlink:to="ifrs-full_CurrentTaxExpenseIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentTradeReceivables-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Current trade receivables</link:label>
    <link:label xlink:label="ifrs-full_CurrentTradeReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade receivables, net</link:label>
    <link:label xlink:label="ifrs-full_CurrentTradeReceivables-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current trade receivables</link:label>
    <link:label xlink:label="ifrs-full_CurrentTradeReceivables-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ifrs-full_CurrentTradeReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilMember" xlink:label="ts_HydrilMember" xlink:type="locator"/>
    <link:label xlink:label="ts_HydrilMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hydril [member]</link:label>
    <link:label xlink:label="ts_HydrilMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash generating unit Hydril.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_HydrilMember" xlink:to="ts_HydrilMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CoiledTubingMember" xlink:label="ts_CoiledTubingMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CoiledTubingMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Coiled Tubing [member]</link:label>
    <link:label xlink:label="ts_CoiledTubingMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash generating unit Coiled Tubing.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CoiledTubingMember" xlink:to="ts_CoiledTubingMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of intangible assets [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TamsaHydrilAndOtherMember" xlink:label="ts_TamsaHydrilAndOtherMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TamsaHydrilAndOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tamsa (Hydril and other) [member]</link:label>
    <link:label xlink:label="ts_TamsaHydrilAndOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash generating unit Tamsa (Hydril and other).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TamsaHydrilAndOtherMember" xlink:to="ts_TamsaHydrilAndOtherMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SidercaHydrilAndOtherMember" xlink:label="ts_SidercaHydrilAndOtherMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SidercaHydrilAndOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Siderca (Hydril and other) [member]</link:label>
    <link:label xlink:label="ts_SidercaHydrilAndOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash generating unit Siderca (Hydril and other).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SidercaHydrilAndOtherMember" xlink:to="ts_SidercaHydrilAndOtherMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InformationSystemProjectsMember" xlink:label="ts_InformationSystemProjectsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_InformationSystemProjectsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Information system projects [member]</link:label>
    <link:label xlink:label="ts_InformationSystemProjectsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible assets classified as information system projects.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_InformationSystemProjectsMember" xlink:to="ts_InformationSystemProjectsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LicensesPatentsAndTrademarksMember" xlink:label="ts_LicensesPatentsAndTrademarksMember" xlink:type="locator"/>
    <link:label xlink:label="ts_LicensesPatentsAndTrademarksMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Licenses, patents and trademarks [member]</link:label>
    <link:label xlink:label="ts_LicensesPatentsAndTrademarksMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible assets classified as licenses, patents and trademarks.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LicensesPatentsAndTrademarksMember" xlink:to="ts_LicensesPatentsAndTrademarksMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCguMember" xlink:label="ts_OtherCguMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherCguMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other CGU [member]</link:label>
    <link:label xlink:label="ts_OtherCguMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash generating unit classified as other.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherCguMember" xlink:to="ts_OtherCguMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesAllowanceForObsolescence" xlink:label="ts_InventoriesAllowanceForObsolescence" xlink:type="locator"/>
    <link:label xlink:label="ts_InventoriesAllowanceForObsolescence-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_InventoriesAllowanceForObsolescence</link:label>
    <link:label xlink:label="ts_InventoriesAllowanceForObsolescence-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Allowance for obsolescence (see Note 23 (i))</link:label>
    <link:label xlink:label="ts_InventoriesAllowanceForObsolescence-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of the allowance for obsolescence for inventories.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_InventoriesAllowanceForObsolescence" xlink:to="ts_InventoriesAllowanceForObsolescence-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DebtSecurities" xlink:label="ifrs-full_DebtSecurities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DebtSecurities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DebtSecurities</link:label>
    <link:label xlink:label="ifrs-full_DebtSecurities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instruments issued</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DebtSecurities" xlink:to="ifrs-full_DebtSecurities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about inventories [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about inventories.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesGross" xlink:label="ts_InventoriesGross" xlink:type="locator"/>
    <link:label xlink:label="ts_InventoriesGross-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_InventoriesGross</link:label>
    <link:label xlink:label="ts_InventoriesGross-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Inventories, Gross</link:label>
    <link:label xlink:label="ts_InventoriesGross-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of inventories before allowance for obsolescence.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_InventoriesGross" xlink:to="ts_InventoriesGross-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DeferredTaxLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net deferred tax liability (asset)</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">At the end of the year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="ifrs-full_DeferredTaxExpenseIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncome" xlink:to="ifrs-full_DeferredTaxExpenseIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities to be settled after 12 months</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income) relating to tax rate changes or imposition of new taxes</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:label="ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of interests in subsidiaries [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:to="ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:label="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of interests in other entities [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:to="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DefinedBenefitObligationAtPresentValue</link:label>
    <link:label xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Present value of funded obligations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DefinedBenefitPlansMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plans [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ifrs-full_DefinedBenefitPlansMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DefinedBenefitPlansAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plans [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DividendsPaidOrdinarySharesPerShare</link:label>
    <link:label xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends paid, ordinary shares per share (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:to="ifrs-full_DividendsPaidOrdinarySharesPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about cost of sales [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreviouslyStatedMember" xlink:label="ifrs-full_PreviouslyStatedMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PreviouslyStatedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Previously stated [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PreviouslyStatedMember" xlink:to="ifrs-full_PreviouslyStatedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesServicesAndFees" xlink:label="ts_CostOfSalesServicesAndFees" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesServicesAndFees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Services and fees</link:label>
    <link:label xlink:label="ts_CostOfSalesServicesAndFees-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of services and fees expense attributable to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesServicesAndFees" xlink:to="ts_CostOfSalesServicesAndFees-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:label="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Raw materials, energy, consumables and other</link:label>
    <link:label xlink:label="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of raw materials, energy, consumables and other expense attributable to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:to="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:label="ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesAmortizationOfIntangibleAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of intangible assets</link:label>
    <link:label xlink:label="ts_CostOfSalesAmortizationOfIntangibleAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization of intangible assets attributable to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:to="ts_CostOfSalesAmortizationOfIntangibleAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesMaintenanceExpenses" xlink:label="ts_CostOfSalesMaintenanceExpenses" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesMaintenanceExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maintenance expenses</link:label>
    <link:label xlink:label="ts_CostOfSalesMaintenanceExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of maintenance expenses attributable to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesMaintenanceExpenses" xlink:to="ts_CostOfSalesMaintenanceExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesLaborCost" xlink:label="ts_CostOfSalesLaborCost" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesLaborCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Labor cost</link:label>
    <link:label xlink:label="ts_CostOfSalesLaborCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of labor cost attributable to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesLaborCost" xlink:to="ts_CostOfSalesLaborCost-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInventoriesExplanatory" xlink:label="ifrs-full_DisclosureOfInventoriesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfInventoriesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of inventories [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInventoriesExplanatory" xlink:to="ifrs-full_DisclosureOfInventoriesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RestatedMember" xlink:label="ifrs-full_RestatedMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RestatedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currently stated [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RestatedMember" xlink:to="ifrs-full_RestatedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:label="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation of property, plant and equipment</link:label>
    <link:label xlink:label="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of depreciation of property, plant and equipment attributable to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:to="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesOther" xlink:label="ts_CostOfSalesOther" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesOther-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label xlink:label="ts_CostOfSalesOther-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_CostOfSalesOther</link:label>
    <link:label xlink:label="ts_CostOfSalesOther-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of other expense attributable to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesOther" xlink:to="ts_CostOfSalesOther-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesIncludingDiscontinuedOperations" xlink:label="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_CostOfSalesIncludingDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_CostOfSalesIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cost of sales including discontinued operations</link:label>
    <link:label xlink:label="ts_CostOfSalesIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of cost of sales including discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesIncludingDiscontinuedOperations" xlink:to="ts_CostOfSalesIncludingDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesAllowanceForObsolescence" xlink:label="ts_CostOfSalesAllowanceForObsolescence" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesAllowanceForObsolescence-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance for obsolescence</link:label>
    <link:label xlink:label="ts_CostOfSalesAllowanceForObsolescence-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of allowance for obsolescence attributable to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesAllowanceForObsolescence" xlink:to="ts_CostOfSalesAllowanceForObsolescence-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesTaxes" xlink:label="ts_CostOfSalesTaxes" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesTaxes-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Taxes</link:label>
    <link:label xlink:label="ts_CostOfSalesTaxes-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of tax expense attributable to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesTaxes" xlink:to="ts_CostOfSalesTaxes-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about selling, general and administrative expenses [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:label="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesServicesAndFees</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Services and fees</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of services and fees attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:to="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesIncludingDiscontinuedOperations" xlink:label="ts_InventoriesIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_InventoriesIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_InventoriesIncludingDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_InventoriesIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less: Inventories at the end of the year</link:label>
    <link:label xlink:label="ts_InventoriesIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of current inventories including discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_InventoriesIncludingDiscontinuedOperations" xlink:to="ts_InventoriesIncludingDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationRightofuseAssets" xlink:label="ifrs-full_DepreciationRightofuseAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DepreciationRightofuseAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DepreciationRightofuseAssets</link:label>
    <link:label xlink:label="ifrs-full_DepreciationRightofuseAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation charge</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesDiscontinuedOperations" xlink:label="ts_CostOfSalesDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_CostOfSalesDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_CostOfSalesDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_CostOfSalesDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">From discontinued operations</link:label>
    <link:label xlink:label="ts_CostOfSalesDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of expense attributable to cost of sales from discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CostOfSalesDiscontinuedOperations" xlink:to="ts_CostOfSalesDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expenses, amortization of intangible assets</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization of intangible assets attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialLiabilities" xlink:label="ifrs-full_DerivativeFinancialLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DerivativeFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</link:label>
    <link:label xlink:label="ifrs-full_DerivativeFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DerivativeFinancialLiabilities</link:label>
    <link:label xlink:label="ifrs-full_DerivativeFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Derivatives with negative fair values</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialLiabilities" xlink:to="ifrs-full_DerivativeFinancialLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:label="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commissions, freight and other selling expenses</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of commissions, freight and other selling expenses attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:to="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="ifrs-full_DerivativeFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</link:label>
    <link:label xlink:label="ifrs-full_DerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivatives with positive fair values</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialAssets" xlink:to="ifrs-full_DerivativeFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:label="ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesLaborCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesLaborCost</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesLaborCost-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Labor cost</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesLaborCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of labor cost attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:to="ts_SellingGeneralAndAdministrativeExpensesLaborCost-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation of property, plant and equipment</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of depreciation of property, plant and equipment attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:label="ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesTaxes-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesTaxes</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesTaxes-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Taxes</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesTaxes-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of taxes attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:to="ts_SellingGeneralAndAdministrativeExpensesTaxes-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesOther" xlink:label="ts_SellingGeneralAndAdministrativeExpensesOther" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesOther-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesOther</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesOther-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesOther-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of other expenses attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesOther" xlink:to="ts_SellingGeneralAndAdministrativeExpensesOther-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:label="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provisions for contingencies</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of provisions for contingencies attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:to="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allowances for doubtful accounts</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of allowances for doubtful accounts attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PurchaseCommitments" xlink:label="ts_PurchaseCommitments" xlink:type="locator"/>
    <link:label xlink:label="ts_PurchaseCommitments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_PurchaseCommitments</link:label>
    <link:label xlink:label="ts_PurchaseCommitments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase commitments</link:label>
    <link:label xlink:label="ts_PurchaseCommitments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount liable for purchase commitments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PurchaseCommitments" xlink:to="ts_PurchaseCommitments-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:label="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expenses including discontinued operations</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of selling, general and administrative expenses including discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">From discontinued operations</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of selling, general and administrative expenses attributable to discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsExpenseDiscontinuedOperations" xlink:label="ts_EmployeeBenefitsExpenseDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_EmployeeBenefitsExpenseDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EmployeeBenefitsExpenseDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsExpenseDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">From discontinued operations</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsExpenseDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of employee benefits expense attributable to discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EmployeeBenefitsExpenseDiscontinuedOperations" xlink:to="ts_EmployeeBenefitsExpenseDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about labor costs [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about labor costs.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:label="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Employee benefits expense including discontinued operations</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The expense of all forms of consideration given by an entity in exchange for a service rendered by employees or for the termination of employment. Includes discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:to="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16</link:label>
    <link:label xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:to="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" xlink:label="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of information about number of employees [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about the number of employees.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" xlink:to="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for borrowings [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherGeographicalAreasMember" xlink:label="ts_OtherGeographicalAreasMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherGeographicalAreasMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other geographical areas [member]</link:label>
    <link:label xlink:label="ts_OtherGeographicalAreasMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Geographical areas not otherwise defined.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherGeographicalAreasMember" xlink:to="ts_OtherGeographicalAreasMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for employee benefits [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for earnings per share [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for expenses [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for financial instruments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:label="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed</link:label>
    <link:label xlink:label="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense relating to short-term leases for which recognition exemption has been used</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:to="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about other operating income and expenses [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about other operating income and expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:label="ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed</link:label>
    <link:label xlink:label="ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense relating to leases of low-value assets for which recognition exemption has been used</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:to="ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for foreign currency translation [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeAbstract" xlink:label="ts_OtherOperatingIncomeAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherOperatingIncomeAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other operating income:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ts_OtherOperatingIncomeAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpensesAbstract" xlink:label="ts_OtherOperatingExpensesAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherOperatingExpensesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other operating expenses:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ts_OtherOperatingExpensesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpenseDiscontinuedOperations" xlink:label="ts_OtherOperatingExpenseDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherOperatingExpenseDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherOperatingExpenseDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_OtherOperatingExpenseDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">From discontinued operations</link:label>
    <link:label xlink:label="ts_OtherOperatingExpenseDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of other operating expense attributable to discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherOperatingExpenseDiscontinuedOperations" xlink:to="ts_OtherOperatingExpenseDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RightofuseAssets" xlink:label="ifrs-full_RightofuseAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RightofuseAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Right-of-use assets, net</link:label>
    <link:label xlink:label="ifrs-full_RightofuseAssets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Right-of-use assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ifrs-full_RightofuseAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LeaseLiabilities" xlink:label="ifrs-full_LeaseLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LeaseLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease Liabilities C and NC</link:label>
    <link:label xlink:label="ifrs-full_LeaseLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_LeaseLiabilities</link:label>
    <link:label xlink:label="ifrs-full_LeaseLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Opening net book amount</link:label>
    <link:label xlink:label="ifrs-full_LeaseLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending net book amount</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseLiabilities" xlink:to="ifrs-full_LeaseLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherExpenseIncludingDiscontinuedOperations" xlink:label="ts_OtherExpenseIncludingDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherExpenseIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherExpenseIncludingDiscontinuedOperations</link:label>
    <link:label xlink:label="ts_OtherExpenseIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other expense including discontinued operations</link:label>
    <link:label xlink:label="ts_OtherExpenseIncludingDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of other expense including discontinued operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherExpenseIncludingDiscontinuedOperations" xlink:to="ts_OtherExpenseIncludingDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for impairment of non-financial assets [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for intangible assets and goodwill [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLeaseLiabilities" xlink:label="ifrs-full_NoncurrentLeaseLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentLeaseLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Lease liabilities</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentLeaseLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentLeaseLiabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for investments other than investments accounted for using equity method [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for investment in associates and joint ventures [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for measuring inventories [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for issued capital [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfLeasesExplanatory" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfLeasesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of leases [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfLeasesExplanatory" xlink:to="ifrs-full_DisclosureOfLeasesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for non-current assets or disposal groups classified as held for sale and discontinued operations [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:label="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Allowance for doubtful receivables</link:label>
    <link:label xlink:label="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables</link:label>
    <link:label xlink:label="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of other operating expenses attributable to allowance for doubtful receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:to="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for property, plant and equipment [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">After tax gain on the sale of Conduit</link:label>
    <link:label xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) recognised on measurement to fair value less costs to sell or on disposal of assets or disposal groups constituting discontinued operation</link:label>
    <link:label xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gain on sale after income tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:to="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for recognition of revenue [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for provisions [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:label="ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of non-current assets held for sale and discontinued operations [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:to="ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeNetRents" xlink:label="ts_OtherOperatingIncomeNetRents" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherOperatingIncomeNetRents-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net rents</link:label>
    <link:label xlink:label="ts_OtherOperatingIncomeNetRents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherOperatingIncomeNetRents</link:label>
    <link:label xlink:label="ts_OtherOperatingIncomeNetRents-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of other operating income attributable to net rents.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherOperatingIncomeNetRents" xlink:to="ts_OtherOperatingIncomeNetRents-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for segment reporting [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:label="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Contributions to welfare projects and non-profits organizations</link:label>
    <link:label xlink:label="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations</link:label>
    <link:label xlink:label="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of other operating expense attributable to contributions to welfare projects and non-profits organizations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:to="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:label="ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherOperatingIncomeNetIncomeFromOtherSales-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income from other sales</link:label>
    <link:label xlink:label="ts_OtherOperatingIncomeNetIncomeFromOtherSales-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherOperatingIncomeNetIncomeFromOtherSales</link:label>
    <link:label xlink:label="ts_OtherOperatingIncomeNetIncomeFromOtherSales-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of other operating income attributable to net income from other sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:to="ts_OtherOperatingIncomeNetIncomeFromOtherSales-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare</link:label>
    <link:label xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends recognised as distributions to owners per share (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for trade and other receivables [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about current allowances and provisions deducted from assets [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about current allowances and provisions deducted from assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:label="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance for doubtful accounts - trade receivables [member]</link:label>
    <link:label xlink:label="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the allowance for doubtful accounts attributable to trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:to="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" xlink:label="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of current allowances and provisions [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of current allowances and provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" xlink:to="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for trade and other payables [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances" xlink:label="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances" xlink:type="locator"/>
    <link:label xlink:label="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances</link:label>
    <link:label xlink:label="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Additional / reversals allowances</link:label>
    <link:label xlink:label="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) through reversals and (additional) allowances.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances" xlink:to="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SalesRisksMember" xlink:label="ts_SalesRisksMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SalesRisksMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales risks [member]</link:label>
    <link:label xlink:label="ts_SalesRisksMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the sales risks provision.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SalesRisksMember" xlink:to="ts_SalesRisksMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" xlink:label="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance for other doubtful accounts - other receivables [member]</link:label>
    <link:label xlink:label="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the allowance for other doubtful accounts attributable to other receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" xlink:to="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForInventoryObsolescenceMember" xlink:label="ts_AllowanceForInventoryObsolescenceMember" xlink:type="locator"/>
    <link:label xlink:label="ts_AllowanceForInventoryObsolescenceMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance for inventory obsolescence [member]</link:label>
    <link:label xlink:label="ts_AllowanceForInventoryObsolescenceMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the allowance for inventory obsolescence.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AllowanceForInventoryObsolescenceMember" xlink:to="ts_AllowanceForInventoryObsolescenceMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of significant accounting policies [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:to="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for determining components of cash and cash equivalents [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:to="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about current allowances and provisions from liabilities [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about current allowances and provisions from liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about non-current allowances and provisions deducted from non-current receivables [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about non-current allowances and provisions deducted from non-current receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionsForCurrentLiabilitiesMember" xlink:label="ts_ProvisionsForCurrentLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ProvisionsForCurrentLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision for current liabilities [member]</link:label>
    <link:label xlink:label="ts_ProvisionsForCurrentLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the provision for current liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProvisionsForCurrentLiabilitiesMember" xlink:to="ts_ProvisionsForCurrentLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" xlink:label="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of non-current allowances and provisions [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of non-current allowances and provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" xlink:to="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentAllowanceForReceivablesMember" xlink:label="ts_NoncurrentAllowanceForReceivablesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_NoncurrentAllowanceForReceivablesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current allowance for receivables [member]</link:label>
    <link:label xlink:label="ts_NoncurrentAllowanceForReceivablesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the non-current allowance for receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NoncurrentAllowanceForReceivablesMember" xlink:to="ts_NoncurrentAllowanceForReceivablesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of trade and other receivables [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:to="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory" xlink:label="ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of tax receivables and payables [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory" xlink:to="ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about non-current allowances and provisions from liabilities [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about non-current allowances and provisions from liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForNoncurrentLiabilitiesMember" xlink:label="ts_ProvisionForNoncurrentLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ProvisionForNoncurrentLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision for non-current liabilities [member]</link:label>
    <link:label xlink:label="ts_ProvisionForNoncurrentLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the provision for non-current liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProvisionForNoncurrentLiabilitiesMember" xlink:to="ts_ProvisionForNoncurrentLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about derivative financial instruments [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about derivative financial instruments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated depreciation, amortisation and impairment [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:to="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativeFinancialAssetsLiabilities" xlink:label="ts_DerivativeFinancialAssetsLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ts_DerivativeFinancialAssetsLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of derivatives</link:label>
    <link:label xlink:label="ts_DerivativeFinancialAssetsLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label xlink:label="ts_DerivativeFinancialAssetsLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of financial assets (liabilities) classified as derivative instruments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DerivativeFinancialAssetsLiabilities" xlink:to="ts_DerivativeFinancialAssetsLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsMember" xlink:label="ts_ForeignExchangeDerivativesContractsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeDerivativesContractsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange derivatives contracts [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeDerivativesContractsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents foreign exchange derivatives contracts.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeDerivativesContractsMember" xlink:to="ts_ForeignExchangeDerivativesContractsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</link:label>
    <link:label xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total consideration transferred, acquisition-date fair value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency EUR, sell currency USD [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is EUR and the sell currency USD.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashTransferred-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashTransferred</link:label>
    <link:label xlink:label="ifrs-full_CashTransferred-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash transferred</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashTransferred" xlink:to="ifrs-full_CashTransferred-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency USD, sell currency EUR [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is USD and the sell currency EUR.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:label="ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse</link:label>
    <link:label xlink:label="ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate used in current estimate of value in use</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:to="ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency MXN, sell currency USD [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is MXN and the sell currency USD.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency USD, sell currency MXN [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is USD and the sell currency MXN.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency USD, sell currency ARS [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is USD and the sell currency ARS.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency ARS, sell currency USD [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is ARS and the sell currency USD.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency JPY, sell currency USD [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is JPY and the sell currency USD.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency USD, sell currency KWD [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is USD and the sell currency KWD.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill</link:label>
    <link:label xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency USD, sell currency BRL [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is USD and the sell currency BRL.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions</link:label>
    <link:label xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:label xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractOtherMember" xlink:label="ts_ForeignExchangeContractOtherMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, Other [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract classified as other.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractOtherMember" xlink:to="ts_ForeignExchangeContractOtherMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment</link:label>
    <link:label xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange contract, purchase currency USD, sell currency GPB [member]</link:label>
    <link:label xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a foreign exchange contract where the purchase currency is USD and the sell currency GBP.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of discount rates [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRatesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRates-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rate of compensation increase</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of expected rates of salary increases [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumptions [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionsMember" xlink:to="ifrs-full_ActuarialAssumptionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsAxis" xlink:label="ifrs-full_ActuarialAssumptionsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumptions [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Actuarial losses (gains) arising from changes in demographic assumptions, net defined benefit liability (asset)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Actuarial losses (gains) arising from changes in financial assumptions, net defined benefit liability (asset)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate</link:label>
    <link:label xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfNoncurrentReceivablesTextBlock" xlink:label="ts_DisclosureOfNoncurrentReceivablesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfNoncurrentReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of non-current receivables [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfNoncurrentReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure for non-current receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfNoncurrentReceivablesTextBlock" xlink:to="ts_DisclosureOfNoncurrentReceivablesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:label="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:type="locator"/>
    <link:label xlink:label="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts</link:label>
    <link:label xlink:label="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Trade and other non-current receivables before the allowance for doubtful accounts</link:label>
    <link:label xlink:label="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of trade and other non-current receivables before the allowance for doubtful accounts.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:to="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about non-current receivables [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure for detailed information about non-current receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:label="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Sales of services to related parties</link:label>
    <link:label xlink:label="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:to="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:label="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:type="locator"/>
    <link:label xlink:label="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Employee advances and loans</link:label>
    <link:label xlink:label="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NoncurrentReceivablesEmployeeAdvancesAndLoans</link:label>
    <link:label xlink:label="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of non-current receivables from employee advances and loans.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:to="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:label="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:type="locator"/>
    <link:label xlink:label="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Advances to suppliers and other advances</link:label>
    <link:label xlink:label="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances</link:label>
    <link:label xlink:label="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of non-current receivables from advances to suppliers and other advances.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:to="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions" xlink:label="ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Purchases of services to related parties</link:label>
    <link:label xlink:label="ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions" xlink:to="ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:label="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Sales of goods to related parties</link:label>
    <link:label xlink:label="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:to="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:label xlink:label="country_AR-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ARGENTINA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_AR" xlink:to="country_AR-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:label="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Purchases of goods to related parties</link:label>
    <link:label xlink:label="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PurchasesOfGoodsRelatedPartyTransactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:to="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment</link:label>
    <link:label xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Key management personnel compensation, share-based payment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits</link:label>
    <link:label xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Key management personnel compensation, short-term employee benefits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of related party [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:to="ifrs-full_DisclosureOfRelatedPartyExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdditionalProvisionsOtherProvisions" xlink:label="ifrs-full_AdditionalProvisionsOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdditionalProvisionsOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional provisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalProvisionsOtherProvisions" xlink:to="ifrs-full_AdditionalProvisionsOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:label xlink:label="country_BR-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BRAZIL</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_BR" xlink:to="country_BR-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CA" xlink:label="country_CA" xlink:type="locator"/>
    <link:label xlink:label="country_CA-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CANADA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CA" xlink:to="country_CA-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of property, plant and equipment [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill</link:label>
    <link:label xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other non-current liabilities [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other operating income (expense) [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CH" xlink:label="country_CH" xlink:type="locator"/>
    <link:label xlink:label="country_CH-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SWITZERLAND</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CH" xlink:to="country_CH-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other liabilities [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other current liabilities [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CO" xlink:label="country_CO" xlink:type="locator"/>
    <link:label xlink:label="country_CO-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">COLOMBIA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CO" xlink:to="country_CO-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory" xlink:label="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory</link:label>
    <link:label xlink:label="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes to Financial Statements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory" xlink:to="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Inventories</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForDecreaseIncreaseInInventories</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Customer advances</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Trade receivables</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_GB" xlink:label="country_GB" xlink:type="locator"/>
    <link:label xlink:label="country_GB-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UNITED KINGDOM</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_GB" xlink:to="country_GB-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForIncomeTaxExpense</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax accruals less payments</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Adjustments for income tax expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Trade payables</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income from the sale of Conduit business</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:to="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_MaturityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturity [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_MaturityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_ID" xlink:label="country_ID" xlink:type="locator"/>
    <link:label xlink:label="country_ID-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">INDONESIA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_ID" xlink:to="country_ID-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="ifrs-full_AdjustmentsForProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForProvisions</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForProvisions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in provisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForProvisions" xlink:to="ifrs-full_AdjustmentsForProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EquityAndLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_EquityAndLiabilities</link:label>
    <link:label xlink:label="ifrs-full_EquityAndLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity and liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherAdjustmentsForNoncashItems" xlink:label="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherAdjustmentsForNoncashItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency translation adjustment and others</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:to="ifrs-full_OtherAdjustmentsForNoncashItems-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Equity in earnings of non-consolidated companies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:to="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:label xlink:label="country_IT-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ITALY</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_IT" xlink:to="country_IT-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLossAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_JP" xlink:label="country_JP" xlink:type="locator"/>
    <link:label xlink:label="country_JP-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">JAPAN</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_JP" xlink:to="country_JP-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ContinuingOperationsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing operations [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContinuingOperationsMember" xlink:to="ifrs-full_ContinuingOperationsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:label="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal groups classified as held for sale [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:to="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentProvisions" xlink:label="ifrs-full_NoncurrentProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentProvisions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Provisions</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentProvisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisions" xlink:to="ifrs-full_NoncurrentProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscontinuedOperationsMember" xlink:label="ifrs-full_DiscontinuedOperationsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DiscontinuedOperationsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discontinued operations [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DiscontinuedOperationsMember" xlink:to="ifrs-full_DiscontinuedOperationsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesAbstract" xlink:label="ifrs-full_LiabilitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LiabilitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_LiabilitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EquityAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital and reserves attributable to owners of the parent</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_KZ" xlink:label="country_KZ" xlink:type="locator"/>
    <link:label xlink:label="country_KZ-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KAZAKHSTAN</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_KZ" xlink:to="country_KZ-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_StatementOfFinancialPositionAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of financial position [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="ifrs-full_StatementOfFinancialPositionAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:label xlink:label="country_LU-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LUXEMBOURG</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_LU" xlink:to="country_LU-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanFiveYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than five years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than two years and not later than three years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than four years and not later than five years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than three years and not later than four years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year and not later than five years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EquityAdjustedBalance" xlink:label="ts_EquityAdjustedBalance" xlink:type="locator"/>
    <link:label xlink:label="ts_EquityAdjustedBalance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EquityAdjustedBalance</link:label>
    <link:label xlink:label="ts_EquityAdjustedBalance-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31, 2017 restated</link:label>
    <link:label xlink:label="ts_EquityAdjustedBalance-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of residual interest in the assets of the entity after deducting all its liabilities, after the cumulative effect adjustment of a change in accounting policies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EquityAdjustedBalance" xlink:to="ts_EquityAdjustedBalance-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearMember" xlink:label="ifrs-full_LaterThanOneYearMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanOneYearMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year and not later than two years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NotLaterThanOneYearMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not later than one year [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneYearMember" xlink:to="ifrs-full_NotLaterThanOneYearMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AggregatedTimeBandsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated time bands [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_AggregatedTimeBandsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_MX" xlink:label="country_MX" xlink:type="locator"/>
    <link:label xlink:label="country_MX-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MEXICO</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_MX" xlink:to="country_MX-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Level3OfFairValueHierarchyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 3 of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_NL" xlink:label="country_NL" xlink:type="locator"/>
    <link:label xlink:label="country_NL-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NETHERLANDS</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_NL" xlink:to="country_NL-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All levels of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Level2OfFairValueHierarchyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 2 of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Level1OfFairValueHierarchyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 1 of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</link:label>
    <link:label xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Effect of exchange rate changes</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllOtherSegmentsMember" xlink:label="ifrs-full_AllOtherSegmentsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AllOtherSegmentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All other segments [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AllOtherSegmentsMember" xlink:to="ifrs-full_AllOtherSegmentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsDeclaredByNonconsolidatedCompanies" xlink:label="ts_DividendsDeclaredByNonconsolidatedCompanies" xlink:type="locator"/>
    <link:label xlink:label="ts_DividendsDeclaredByNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DividendsDeclaredByNonconsolidatedCompanies</link:label>
    <link:label xlink:label="ts_DividendsDeclaredByNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends and distributions received (*)</link:label>
    <link:label xlink:label="ts_DividendsDeclaredByNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of divdends declared by nonconsolidated companies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DividendsDeclaredByNonconsolidatedCompanies" xlink:to="ts_DividendsDeclaredByNonconsolidatedCompanies-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Values at the beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Values at the end of the year</link:label>
    <link:label xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill</link:label>
    <link:label xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization charge</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinanceCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_FinanceCosts</link:label>
    <link:label xlink:label="ifrs-full_FinanceCosts-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Finance cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinanceIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance income</link:label>
    <link:label xlink:label="ifrs-full_FinanceIncome-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Finance income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GrossProfit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross profit</link:label>
    <link:label xlink:label="ifrs-full_GrossProfit-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gross profit</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_PT" xlink:label="country_PT" xlink:type="locator"/>
    <link:label xlink:label="country_PT-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PORTUGAL</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_PT" xlink:to="country_PT-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount" xlink:label="ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount</link:label>
    <link:label xlink:label="ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount by which unit's recoverable amount exceeds its carrying amount</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount" xlink:to="ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ifrs-full_ProfitLossAttributableToAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Attributable to:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income for the year attributable to owners of the parent</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Owners of the parent</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_RO" xlink:label="country_RO" xlink:type="locator"/>
    <link:label xlink:label="country_RO-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ROMANIA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_RO" xlink:to="country_RO-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossFromOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">IFRS - operating income</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossFromOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ProfitLossFromOperatingActivities</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossFromOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Operating income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_SA" xlink:label="country_SA" xlink:type="locator"/>
    <link:label xlink:label="country_SA-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SAUDI ARABIA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_SA" xlink:to="country_SA-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash and cash equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeStatementAbstract" xlink:label="ifrs-full_IncomeStatementAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeStatementAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit or loss [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ifrs-full_IncomeStatementAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash and cash equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPaidIncludingNoncontrollingInterest" xlink:label="ts_DividendsPaidIncludingNoncontrollingInterest" xlink:type="locator"/>
    <link:label xlink:label="ts_DividendsPaidIncludingNoncontrollingInterest-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DividendsPaidIncludingNoncontrollingInterest</link:label>
    <link:label xlink:label="ts_DividendsPaidIncludingNoncontrollingInterest-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends paid in cash</link:label>
    <link:label xlink:label="ts_DividendsPaidIncludingNoncontrollingInterest-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends recognised as distributions to owners, including noncontrolling interest.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DividendsPaidIncludingNoncontrollingInterest" xlink:to="ts_DividendsPaidIncludingNoncontrollingInterest-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Receivables from non-consolidated parties</link:label>
    <link:label xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AmountsReceivableRelatedPartyTransactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AmountsPayableRelatedPartyTransactions</link:label>
    <link:label xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payables to non-consolidated parties</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsPayableRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed</link:label>
    <link:label xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net assets acquired</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestPayable" xlink:label="ifrs-full_InterestPayable" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestPayable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest to be accrued (*)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPayable" xlink:to="ifrs-full_InterestPayable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer relationship</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestReceivable" xlink:label="ifrs-full_InterestReceivable" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestReceivable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InterestReceivable</link:label>
    <link:label xlink:label="ifrs-full_InterestReceivable-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest receivable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestReceivable" xlink:to="ifrs-full_InterestReceivable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInJointVentures" xlink:label="ifrs-full_InvestmentsInJointVentures" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InvestmentsInJointVentures-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InvestmentsInJointVentures</link:label>
    <link:label xlink:label="ifrs-full_InvestmentsInJointVentures-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in joint ventures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInJointVentures" xlink:to="ifrs-full_InvestmentsInJointVentures-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:label xlink:label="country_US-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UNITED STATES</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="country_US-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_UY" xlink:label="country_UY" xlink:type="locator"/>
    <link:label xlink:label="country_UY-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">URUGUAY</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_UY" xlink:to="country_UY-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_VE" xlink:label="country_VE" xlink:type="locator"/>
    <link:label xlink:label="country_VE-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VENEZUELA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_VE" xlink:to="country_VE-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Charged directly to other comprehensive income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of currency translation on tax base</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income tax relating to components of other comprehensive income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income tax on items that will not be reclassified</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCurrentLiabilities" xlink:label="ifrs-full_OtherCurrentLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherCurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label xlink:label="ifrs-full_OtherCurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherCurrentLiabilities</link:label>
    <link:label xlink:label="ifrs-full_OtherCurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other current liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentLiabilities" xlink:to="ifrs-full_OtherCurrentLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">From other comprehensive income of non-consolidated companies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfChangesInAccountingPolicy" xlink:label="ts_EffectOfChangesInAccountingPolicy" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfChangesInAccountingPolicy-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EffectOfChangesInAccountingPolicy</link:label>
    <link:label xlink:label="ts_EffectOfChangesInAccountingPolicy-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Changes in accounting policies (Section II AP)</link:label>
    <link:label xlink:label="ts_EffectOfChangesInAccountingPolicy-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cumulative effect of changes in accounting policy.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfChangesInAccountingPolicy" xlink:to="ts_EffectOfChangesInAccountingPolicy-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity in earnings of non-consolidated companies</link:label>
    <link:label xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Equity in earnings of non-consolidated companies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other investments - non-current</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other investments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:to="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Remeasurements of post employment benefit obligations of non-consolidated companies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentDerivativeFinancialAssets</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current derivative financial assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TTGroupMember" xlink:label="ts_TTGroupMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TTGroupMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">T/T Group [member]</link:label>
    <link:label xlink:label="ts_TTGroupMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to the T/T Group.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TTGroupMember" xlink:to="ts_TTGroupMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TheNewSHAMember" xlink:label="ts_TheNewSHAMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TheNewSHAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The new SHA [member]</link:label>
    <link:label xlink:label="ts_TheNewSHAMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to the new SHA.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TheNewSHAMember" xlink:to="ts_TheNewSHAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PercentOfCompanyVotingCapital" xlink:label="ts_PercentOfCompanyVotingCapital" xlink:type="locator"/>
    <link:label xlink:label="ts_PercentOfCompanyVotingCapital-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_PercentOfCompanyVotingCapital</link:label>
    <link:label xlink:label="ts_PercentOfCompanyVotingCapital-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of company voting capital</link:label>
    <link:label xlink:label="ts_PercentOfCompanyVotingCapital-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percent of a company's voting capital represented.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PercentOfCompanyVotingCapital" xlink:to="ts_PercentOfCompanyVotingCapital-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherNoncurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label xlink:label="ifrs-full_OtherNoncurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherNoncurrentLiabilities</link:label>
    <link:label xlink:label="ifrs-full_OtherNoncurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other non-current liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentLiabilities" xlink:to="ifrs-full_OtherNoncurrentLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SharesBoundToSHA" xlink:label="ts_SharesBoundToSHA" xlink:type="locator"/>
    <link:label xlink:label="ts_SharesBoundToSHA-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SharesBoundToSHA</link:label>
    <link:label xlink:label="ts_SharesBoundToSHA-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares bound to SHA (in shares)</link:label>
    <link:label xlink:label="ts_SharesBoundToSHA-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of shares bound to SHA.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SharesBoundToSHA" xlink:to="ts_SharesBoundToSHA-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PrevidenciaUsiminasMember" xlink:label="ts_PrevidenciaUsiminasMember" xlink:type="locator"/>
    <link:label xlink:label="ts_PrevidenciaUsiminasMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Previdencia Usiminas [member]</link:label>
    <link:label xlink:label="ts_PrevidenciaUsiminasMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to Previdencia Usiminas.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PrevidenciaUsiminasMember" xlink:to="ts_PrevidenciaUsiminasMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NSSMCMember" xlink:label="ts_NSSMCMember" xlink:type="locator"/>
    <link:label xlink:label="ts_NSSMCMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NSSMC [member]</link:label>
    <link:label xlink:label="ts_NSSMCMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to the entity NSSMC.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NSSMCMember" xlink:to="ts_NSSMCMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabMember" xlink:label="ts_ConfabMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ConfabMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Confab [member]</link:label>
    <link:label xlink:label="ts_ConfabMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to Confab.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ConfabMember" xlink:to="ts_ConfabMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumEntititesMember" xlink:label="ts_TerniumEntititesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TerniumEntititesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ternium entitites [member]</link:label>
    <link:label xlink:label="ts_TerniumEntititesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to Ternium entities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TerniumEntititesMember" xlink:to="ts_TerniumEntititesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:label="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:type="locator"/>
    <link:label xlink:label="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and bank deposits</link:label>
    <link:label xlink:label="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash at banks, liquidity funds and short - term investments</link:label>
    <link:label xlink:label="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value as well as cash and cash equivalents are classified as a part of a disposal group.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:to="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_BasicAndDilutedEarningsLossPerShare</link:label>
    <link:label xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShare-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic and diluted earnings (losses) per share (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:to="ifrs-full_BasicAndDilutedEarningsLossPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisMember" xlink:label="ts_TenarisMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenaris [member]</link:label>
    <link:label xlink:label="ts_TenarisMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to Tenaris.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisMember" xlink:to="ts_TenarisMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscountRateMeasurementInputMember" xlink:label="ifrs-full_DiscountRateMeasurementInputMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DiscountRateMeasurementInputMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount rate, measurement input [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DiscountRateMeasurementInputMember" xlink:to="ifrs-full_DiscountRateMeasurementInputMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TecpetrolInternationalSAMember" xlink:label="ts_TecpetrolInternationalSAMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TecpetrolInternationalSAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tecpetrol International S.A. [member]</link:label>
    <link:label xlink:label="ts_TecpetrolInternationalSAMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to the entity Tecpetrol International S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TecpetrolInternationalSAMember" xlink:to="ts_TecpetrolInternationalSAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations" xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic and diluted earnings (losses) per share (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OrdinarySharesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ordinary shares [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OrdinarySharesMember" xlink:to="ifrs-full_OrdinarySharesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="ifrs-full_EarningsPerShareAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EarningsPerShareAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share attributable to the owners of the parent during the year:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareAbstract" xlink:to="ifrs-full_EarningsPerShareAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DepreciationAndAmortisationExpense-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label xlink:label="ifrs-full_DepreciationAndAmortisationExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherLongtermBenefits" xlink:label="ifrs-full_OtherLongtermBenefits" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherLongtermBenefits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherLongtermBenefits</link:label>
    <link:label xlink:label="ifrs-full_OtherLongtermBenefits-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee retention and long term incentive program</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherLongtermBenefits" xlink:to="ifrs-full_OtherLongtermBenefits-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentPrepayments" xlink:label="ifrs-full_NoncurrentPrepayments" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentPrepayments-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Legal deposits</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentPrepayments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentPrepayments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPrepayments" xlink:to="ifrs-full_NoncurrentPrepayments-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EmployeeBenefitsExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_EmployeeBenefitsExpense</link:label>
    <link:label xlink:label="ifrs-full_EmployeeBenefitsExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total employee benefits expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EmployeeBenefitsExpense" xlink:to="ifrs-full_EmployeeBenefitsExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined contribution plans</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:label="ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShorttermEmployeeBenefitsExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ShorttermEmployeeBenefitsExpense</link:label>
    <link:label xlink:label="ifrs-full_ShorttermEmployeeBenefitsExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wages, salaries and social security costs</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:to="ifrs-full_ShorttermEmployeeBenefitsExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentReceivables" xlink:label="ifrs-full_OtherNoncurrentReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherNoncurrentReceivables-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Others</link:label>
    <link:label xlink:label="ifrs-full_OtherNoncurrentReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherNoncurrentReceivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentReceivables" xlink:to="ifrs-full_OtherNoncurrentReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TerminationBenefitsExpense" xlink:label="ifrs-full_TerminationBenefitsExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TerminationBenefitsExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Severance indemnities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TerminationBenefitsExpense" xlink:to="ifrs-full_TerminationBenefitsExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans</link:label>
    <link:label xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension benefits - defined benefit plans</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativeLiabilitiesMember" xlink:label="ts_DerivativeLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DerivativeLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative liabilities [member]</link:label>
    <link:label xlink:label="ts_DerivativeLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to derivative liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DerivativeLiabilitiesMember" xlink:to="ts_DerivativeLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentReceivablesDueFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Receivables from related parties</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentReceivablesDueFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentReceivablesDueFromRelatedParties</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:to="ifrs-full_NoncurrentReceivablesDueFromRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Tax credits</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:to="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares</link:label>
    <link:label xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dilutive effect of share options on number of ordinary shares (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:to="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Argentina1Member" xlink:label="ts_Argentina1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_Argentina1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Argentina [member]</link:label>
    <link:label xlink:label="ts_Argentina1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to Argentina.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_Argentina1Member" xlink:to="ts_Argentina1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax</link:label>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other comprehensive income that will be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:label="ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:type="locator"/>
    <link:label xlink:label="ts_ReceivablesFromInterestInVenezuelanCompanies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable Venezuelan subsidiaries</link:label>
    <link:label xlink:label="ts_ReceivablesFromInterestInVenezuelanCompanies-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount receivable from interest in Venezuelan companies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:to="ts_ReceivablesFromInterestInVenezuelanCompanies-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates" xlink:label="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates" xlink:type="locator"/>
    <link:label xlink:label="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates</link:label>
    <link:label xlink:label="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for exposure to the purchase of clean energy certificates</link:label>
    <link:label xlink:label="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of provision for exposure to the purchase of clean energy certificates.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates" xlink:to="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax</link:label>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other comprehensive income that will not be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumAndUsiminasMember" xlink:label="ts_TerniumAndUsiminasMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TerniumAndUsiminasMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ternium and Usiminas [member]</link:label>
    <link:label xlink:label="ts_TerniumAndUsiminasMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to Ternium and Usiminas.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TerniumAndUsiminasMember" xlink:to="ts_TerniumAndUsiminasMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherReceivables" xlink:label="ifrs-full_OtherReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReceivables" xlink:to="ifrs-full_OtherReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:label="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Nominative allowances for doubtful accounts</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of nominative allowances for doubtful accounts from current trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:to="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesExpectedLossRate" xlink:label="ts_CurrentTradeReceivablesExpectedLossRate" xlink:type="locator"/>
    <link:label xlink:label="ts_CurrentTradeReceivablesExpectedLossRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected loss rate</link:label>
    <link:label xlink:label="ts_CurrentTradeReceivablesExpectedLossRate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The expected loss rate of current trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CurrentTradeReceivablesExpectedLossRate" xlink:to="ts_CurrentTradeReceivablesExpectedLossRate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:label="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of adoption of new standards</link:label>
    <link:label xlink:label="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of adoption of new standards</link:label>
    <link:label xlink:label="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of increase (decrease) in deferred tax assets due to adoption of new accounting standards.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:to="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:label="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards</link:label>
    <link:label xlink:label="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of adoption of new standards</link:label>
    <link:label xlink:label="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of increase (decrease) in deferred tax assets due to the adoption of new accounting standards.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:to="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherDerivativesMember" xlink:label="ts_OtherDerivativesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherDerivativesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other derivatives [member]</link:label>
    <link:label xlink:label="ts_OtherDerivativesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to other derivatives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherDerivativesMember" xlink:to="ts_OtherDerivativesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions" xlink:label="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions</link:label>
    <link:label xlink:label="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Additional allowances</link:label>
    <link:label xlink:label="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of increase (decrease) due to additional allowances, of other provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions" xlink:to="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions" xlink:label="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions</link:label>
    <link:label xlink:label="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Effect of adoption of new standards</link:label>
    <link:label xlink:label="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of increase (decrease) due to the effect of adoption of new accounting standards, of other provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions" xlink:to="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ChubbMember" xlink:label="ts_ChubbMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ChubbMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Chubb [member]</link:label>
    <link:label xlink:label="ts_ChubbMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to the entity Chubb.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ChubbMember" xlink:to="ts_ChubbMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfEmployees" xlink:label="ifrs-full_NumberOfEmployees" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfEmployees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NumberOfEmployees</link:label>
    <link:label xlink:label="ifrs-full_NumberOfEmployees-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of employees</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfEmployees" xlink:to="ifrs-full_NumberOfEmployees-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PaymentsForSettlement" xlink:label="ts_PaymentsForSettlement" xlink:type="locator"/>
    <link:label xlink:label="ts_PaymentsForSettlement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_PaymentsForSettlement</link:label>
    <link:label xlink:label="ts_PaymentsForSettlement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments for settlement</link:label>
    <link:label xlink:label="ts_PaymentsForSettlement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of payments made for settlements.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PaymentsForSettlement" xlink:to="ts_PaymentsForSettlement-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativesHedgingBorrowingsAndInvestmentsMember" xlink:label="ts_DerivativesHedgingBorrowingsAndInvestmentsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DerivativesHedgingBorrowingsAndInvestmentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives hedging borrowings and investments [member]</link:label>
    <link:label xlink:label="ts_DerivativesHedgingBorrowingsAndInvestmentsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to derivatives used for hedging borrowings and investments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DerivativesHedgingBorrowingsAndInvestmentsMember" xlink:to="ts_DerivativesHedgingBorrowingsAndInvestmentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SettlementAmountOrderedToPayInsuranceDeductible" xlink:label="ts_SettlementAmountOrderedToPayInsuranceDeductible" xlink:type="locator"/>
    <link:label xlink:label="ts_SettlementAmountOrderedToPayInsuranceDeductible-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SettlementAmountOrderedToPayInsuranceDeductible</link:label>
    <link:label xlink:label="ts_SettlementAmountOrderedToPayInsuranceDeductible-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Settlement, amount ordered to pay, insurance deductible</link:label>
    <link:label xlink:label="ts_SettlementAmountOrderedToPayInsuranceDeductible-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount ordered to pay in a settlement, related to the insurance deductible.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SettlementAmountOrderedToPayInsuranceDeductible" xlink:to="ts_SettlementAmountOrderedToPayInsuranceDeductible-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SettlementAmountOrderedToPay" xlink:label="ts_SettlementAmountOrderedToPay" xlink:type="locator"/>
    <link:label xlink:label="ts_SettlementAmountOrderedToPay-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SettlementAmountOrderedToPay</link:label>
    <link:label xlink:label="ts_SettlementAmountOrderedToPay-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Settlement, amount ordered to pay</link:label>
    <link:label xlink:label="ts_SettlementAmountOrderedToPay-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of liability associated with amount ordered to pay in a settlement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SettlementAmountOrderedToPay" xlink:to="ts_SettlementAmountOrderedToPay-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:label="ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfAdditionalInformationExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of additional information [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:to="ifrs-full_DisclosureOfAdditionalInformationExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SettlementAmountOrderedToPayDamages" xlink:label="ts_SettlementAmountOrderedToPayDamages" xlink:type="locator"/>
    <link:label xlink:label="ts_SettlementAmountOrderedToPayDamages-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SettlementAmountOrderedToPayDamages</link:label>
    <link:label xlink:label="ts_SettlementAmountOrderedToPayDamages-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Settlement, amount ordered to pay, damages</link:label>
    <link:label xlink:label="ts_SettlementAmountOrderedToPayDamages-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of settlement ordered to be pay, related to damages.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SettlementAmountOrderedToPayDamages" xlink:to="ts_SettlementAmountOrderedToPayDamages-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ValeInternationalSAMember" xlink:label="ts_ValeInternationalSAMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ValeInternationalSAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vale International S.A. [member]</link:label>
    <link:label xlink:label="ts_ValeInternationalSAMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to the entity Vale International S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ValeInternationalSAMember" xlink:to="ts_ValeInternationalSAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MasterDistributionAgreementTerm" xlink:label="ts_MasterDistributionAgreementTerm" xlink:type="locator"/>
    <link:label xlink:label="ts_MasterDistributionAgreementTerm-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_MasterDistributionAgreementTerm</link:label>
    <link:label xlink:label="ts_MasterDistributionAgreementTerm-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Master distribution agreement, term (Year)</link:label>
    <link:label xlink:label="ts_MasterDistributionAgreementTerm-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the term of a master distribution agreement, wherein the acquirer is the exclusive distributor of products.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_MasterDistributionAgreementTerm" xlink:to="ts_MasterDistributionAgreementTerm-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually" xlink:label="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually" xlink:type="locator"/>
    <link:label xlink:label="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually</link:label>
    <link:label xlink:label="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum number of tons of pellets supplied annually (Metric Ton)</link:label>
    <link:label xlink:label="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum number of metric tons of pellets supplied annually.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually" xlink:to="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:label xlink:label="ts_AcquisitionOfIPSCOMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition of IPSCO [member]</link:label>
    <link:label xlink:label="ts_AcquisitionOfIPSCOMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information related to the acquisition of IPSCO Tubulars, Inc., a U.S. manufacturer of steel pipes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AcquisitionOfIPSCOMember" xlink:to="ts_AcquisitionOfIPSCOMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PercentOfAnnualIronOreNeedsSupplied" xlink:label="ts_PercentOfAnnualIronOreNeedsSupplied" xlink:type="locator"/>
    <link:label xlink:label="ts_PercentOfAnnualIronOreNeedsSupplied-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_PercentOfAnnualIronOreNeedsSupplied</link:label>
    <link:label xlink:label="ts_PercentOfAnnualIronOreNeedsSupplied-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of annual iron ore needs supplied</link:label>
    <link:label xlink:label="ts_PercentOfAnnualIronOreNeedsSupplied-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percent of annual iron ore needs that will be supplied.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PercentOfAnnualIronOreNeedsSupplied" xlink:to="ts_PercentOfAnnualIronOreNeedsSupplied-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TribunalDeContasDaUniaoMember" xlink:label="ts_TribunalDeContasDaUniaoMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TribunalDeContasDaUniaoMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tribunal de Contas da Uniao [member]</link:label>
    <link:label xlink:label="ts_TribunalDeContasDaUniaoMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to the Tribunal de Contas da Uniao.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TribunalDeContasDaUniaoMember" xlink:to="ts_TribunalDeContasDaUniaoMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:label="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retrospective application and retrospective restatement [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:to="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AirLiquideMexicoSDeRLDeCVMember" xlink:label="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:type="locator"/>
    <link:label xlink:label="ts_AirLiquideMexicoSDeRLDeCVMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Air Liquide Mexico S. de R.L. de C.V. [member]</link:label>
    <link:label xlink:label="ts_AirLiquideMexicoSDeRLDeCVMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to a certain entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:to="ts_AirLiquideMexicoSDeRLDeCVMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CanadianNationalRailwayMember" xlink:label="ts_CanadianNationalRailwayMember" xlink:type="locator"/>
    <link:label xlink:label="ts_CanadianNationalRailwayMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canadian National Railway [member]</link:label>
    <link:label xlink:label="ts_CanadianNationalRailwayMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to the Canadian National Railway.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CanadianNationalRailwayMember" xlink:to="ts_CanadianNationalRailwayMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MasterDistributionAgreementTermAvailableExtension" xlink:label="ts_MasterDistributionAgreementTermAvailableExtension" xlink:type="locator"/>
    <link:label xlink:label="ts_MasterDistributionAgreementTermAvailableExtension-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_MasterDistributionAgreementTermAvailableExtension</link:label>
    <link:label xlink:label="ts_MasterDistributionAgreementTermAvailableExtension-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Master distribution agreement, term, available extension (Month)</link:label>
    <link:label xlink:label="ts_MasterDistributionAgreementTermAvailableExtension-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the term by which the master distribution agreement term may be extended at the election of the seller of the acquired entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_MasterDistributionAgreementTermAvailableExtension" xlink:to="ts_MasterDistributionAgreementTermAvailableExtension-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WeldedPipePlantInWestSiberiaMember" xlink:label="ts_WeldedPipePlantInWestSiberiaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_WeldedPipePlantInWestSiberiaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Welded pipe plant in West Siberia [member]</link:label>
    <link:label xlink:label="ts_WeldedPipePlantInWestSiberiaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to a welded pipe plant in West Siberia.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_WeldedPipePlantInWestSiberiaMember" xlink:to="ts_WeldedPipePlantInWestSiberiaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="ifrs-full_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_StatementOfCashFlowsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of cash flows [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfCashFlowsAbstract" xlink:to="ifrs-full_StatementOfCashFlowsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DelistingOfSharesFromStockExchangeExplanatory" xlink:label="ts_DelistingOfSharesFromStockExchangeExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ts_DelistingOfSharesFromStockExchangeExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Delisting of shares from stock exchange [text block]</link:label>
    <link:label xlink:label="ts_DelistingOfSharesFromStockExchangeExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entire disclosure describing the delisting of shares from a stock exchange.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DelistingOfSharesFromStockExchangeExplanatory" xlink:to="ts_DelistingOfSharesFromStockExchangeExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManufacturingCapacitySteelPipes" xlink:label="ts_ManufacturingCapacitySteelPipes" xlink:type="locator"/>
    <link:label xlink:label="ts_ManufacturingCapacitySteelPipes-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ManufacturingCapacitySteelPipes</link:label>
    <link:label xlink:label="ts_ManufacturingCapacitySteelPipes-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Manufacturing capacity, steel pipes (Metric Ton)</link:label>
    <link:label xlink:label="ts_ManufacturingCapacitySteelPipes-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of steel pipe manufacturing capacity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ManufacturingCapacitySteelPipes" xlink:to="ts_ManufacturingCapacitySteelPipes-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_GoodwillRecognisedAsOfAcquisitionDate</link:label>
    <link:label xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill recognised as of acquisition date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SaudiSteelPipeCompanyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Saudi Steel Pipe Company [member]</link:label>
    <link:label xlink:label="ts_SaudiSteelPipeCompanyMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to Saudi Steel Pipe Company.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SaudiSteelPipeCompanyMember" xlink:to="ts_SaudiSteelPipeCompanyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_KazakhstanPipeThreadersLimitedMember" xlink:label="ts_KazakhstanPipeThreadersLimitedMember" xlink:type="locator"/>
    <link:label xlink:label="ts_KazakhstanPipeThreadersLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kazakhstan Pipe Threaders Limited [member]</link:label>
    <link:label xlink:label="ts_KazakhstanPipeThreadersLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to Kazakhstan Pipe Threaders Limited.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_KazakhstanPipeThreadersLimitedMember" xlink:to="ts_KazakhstanPipeThreadersLimitedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SeveralBanksToRefinanceObligationsMember" xlink:label="ts_SeveralBanksToRefinanceObligationsMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SeveralBanksToRefinanceObligationsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Several banks, to refinance obligations [member]</link:label>
    <link:label xlink:label="ts_SeveralBanksToRefinanceObligationsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to several banks borrowings, used to refinance obligations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SeveralBanksToRefinanceObligationsMember" xlink:to="ts_SeveralBanksToRefinanceObligationsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LettersOfCreditCovered" xlink:label="ts_LettersOfCreditCovered" xlink:type="locator"/>
    <link:label xlink:label="ts_LettersOfCreditCovered-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LettersOfCreditCovered</link:label>
    <link:label xlink:label="ts_LettersOfCreditCovered-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Letters of credit, covered</link:label>
    <link:label xlink:label="ts_LettersOfCreditCovered-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of covered letters of credit.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LettersOfCreditCovered" xlink:to="ts_LettersOfCreditCovered-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of comprehensive income [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:to="ifrs-full_StatementOfComprehensiveIncomeAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DebtServiceCoverageRatioCoveredPercent" xlink:label="ts_DebtServiceCoverageRatioCoveredPercent" xlink:type="locator"/>
    <link:label xlink:label="ts_DebtServiceCoverageRatioCoveredPercent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DebtServiceCoverageRatioCoveredPercent</link:label>
    <link:label xlink:label="ts_DebtServiceCoverageRatioCoveredPercent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt service coverage ratio, covered, percent</link:label>
    <link:label xlink:label="ts_DebtServiceCoverageRatioCoveredPercent-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percent amount of covered debt service coverage ratio.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DebtServiceCoverageRatioCoveredPercent" xlink:to="ts_DebtServiceCoverageRatioCoveredPercent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_StatementOfChangesInEquityAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityAbstract" xlink:to="ifrs-full_StatementOfChangesInEquityAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PAOPSeverstalMember" xlink:label="ts_PAOPSeverstalMember" xlink:type="locator"/>
    <link:label xlink:label="ts_PAOPSeverstalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PAO Severstal [member]</link:label>
    <link:label xlink:label="ts_PAOPSeverstalMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related to PAO Severstal.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PAOPSeverstalMember" xlink:to="ts_PAOPSeverstalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:label="ifrs-full_GeneralAndAdministrativeExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_GeneralAndAdministrativeExpense</link:label>
    <link:label xlink:label="ifrs-full_GeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:label="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate</link:label>
    <link:label xlink:label="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Employees end of service benefits</link:label>
    <link:label xlink:label="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of employee service benefits recognised as of acquisition date.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:to="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherReceivablesRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Receivables</link:label>
    <link:label xlink:label="ts_OtherReceivablesRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other receivables recognised as of acquisition date.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:to="ts_OtherReceivablesRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:label="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ts_WorkingCapitalRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Working capital</link:label>
    <link:label xlink:label="ts_WorkingCapitalRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of working capital recognised as of acquisition date.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:to="ts_WorkingCapitalRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_SellingGeneralAndAdministrativeExpense</link:label>
    <link:label xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total selling, general and administrative expense</link:label>
    <link:label xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:label="ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:label xlink:label="ts_InvestmentsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment in associated</link:label>
    <link:label xlink:label="ts_InvestmentsRecognisedAsOfAcquisitionDate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of investments recognised as of acquisition date.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:to="ts_InvestmentsRecognisedAsOfAcquisitionDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MiscellaneousOtherOperatingIncome" xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_MiscellaneousOtherOperatingIncome</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MiscellaneousOtherOperatingIncome" xlink:to="ifrs-full_MiscellaneousOtherOperatingIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:label="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:type="locator"/>
    <link:label xlink:label="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances</link:label>
    <link:label xlink:label="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Allowances for doubtful accounts</link:label>
    <link:label xlink:label="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of allowance for doubtful accounts, net of nominative allowances.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:to="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TotalAssetsAndLiabilitiesAcquired" xlink:label="ts_TotalAssetsAndLiabilitiesAcquired" xlink:type="locator"/>
    <link:label xlink:label="ts_TotalAssetsAndLiabilitiesAcquired-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_TotalAssetsAndLiabilitiesAcquired</link:label>
    <link:label xlink:label="ts_TotalAssetsAndLiabilitiesAcquired-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total assets and liabilities acquired</link:label>
    <link:label xlink:label="ts_TotalAssetsAndLiabilitiesAcquired-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Total amount of assets and liabilities acquired.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TotalAssetsAndLiabilitiesAcquired" xlink:to="ts_TotalAssetsAndLiabilitiesAcquired-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis" xlink:type="locator"/>
    <link:label xlink:label="srt_CurrencyAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CurrencyAxis" xlink:to="srt_CurrencyAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables from related parties</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:to="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostDisposals" xlink:label="ts_RightofuseAssetsCostDisposals" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsCostDisposals-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsCostDisposals</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostDisposals-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Disposals</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostDisposals-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the decrease in the cost of right-of-use assets during the period due to disposals.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsCostDisposals" xlink:to="ts_RightofuseAssetsCostDisposals-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostCurrencyTranslationAdjustments" xlink:label="ts_RightofuseAssetsCostCurrencyTranslationAdjustments" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsCostCurrencyTranslationAdjustments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsCostCurrencyTranslationAdjustments</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostCurrencyTranslationAdjustments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency translation adjustment</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostCurrencyTranslationAdjustments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the change in the cost of right-of-use assets during the period due to currency translation adjustments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsCostCurrencyTranslationAdjustments" xlink:to="ts_RightofuseAssetsCostCurrencyTranslationAdjustments-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations" xlink:label="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the increase in the cost of right-of-use assets during the period due to business combinations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations" xlink:to="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostAbstract" xlink:label="ts_RightofuseAssetsCostAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsCostAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfRisksMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risks [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ifrs-full_TypesOfRisksMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostAdditions" xlink:label="ts_RightofuseAssetsCostAdditions" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsCostAdditions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsCostAdditions</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostAdditions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostAdditions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of additions to the cost of right-of-use assets during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsCostAdditions" xlink:to="ts_RightofuseAssetsCostAdditions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCost" xlink:label="ts_RightofuseAssetsCost" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsCost</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCost-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Opening net book amount</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCost-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Closing net book amount</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the cost of right-of-use assets as of the specified date.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsCost" xlink:to="ts_RightofuseAssetsCost-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostTransfers" xlink:label="ts_RightofuseAssetsCostTransfers" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsCostTransfers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsCostTransfers</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostTransfers-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers</link:label>
    <link:label xlink:label="ts_RightofuseAssetsCostTransfers-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the change during the period in the cost of right-of-use assets attributable to transfers.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsCostTransfers" xlink:to="ts_RightofuseAssetsCostTransfers-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences" xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences</link:label>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the effect of translation differences on accumulated depreciation for operating lease assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences" xlink:to="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciation" xlink:label="ts_RightofuseAssetsAccumulatedDepreciation" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsAccumulatedDepreciation</link:label>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciation-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Accumulated at the beginning of the year</link:label>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciation-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Accumulated at the end of the year</link:label>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciation-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of accumulated depreciation for right-of-use assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsAccumulatedDepreciation" xlink:to="ts_RightofuseAssetsAccumulatedDepreciation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfRisksAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of risks [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsDepreciationAbstract" xlink:label="ts_RightofuseAssetsDepreciationAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsDepreciationAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsDepreciationAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsEvolutionTextBlock" xlink:label="ts_RightofuseAssetsEvolutionTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsEvolutionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Right-of-use assets evolution [text block]</link:label>
    <link:label xlink:label="ts_RightofuseAssetsEvolutionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Text block disclosure of the evolution of right-of-use assets during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsEvolutionTextBlock" xlink:to="ts_RightofuseAssetsEvolutionTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncomeCost" xlink:label="ifrs-full_FinanceIncomeCost" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinanceIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Financial income (expense), net</link:label>
    <link:label xlink:label="ifrs-full_FinanceIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_FinanceIncomeCost</link:label>
    <link:label xlink:label="ifrs-full_FinanceIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Finance income (cost)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ifrs-full_FinanceIncomeCost-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilityEvolutionTextBlock" xlink:label="ts_LeaseLiabilityEvolutionTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_LeaseLiabilityEvolutionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease liability evolution [text block]</link:label>
    <link:label xlink:label="ts_LeaseLiabilityEvolutionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Text block disclosure for the evolution of the lease liability.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LeaseLiabilityEvolutionTextBlock" xlink:to="ts_LeaseLiabilityEvolutionTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions" xlink:label="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions</link:label>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Disposals / Consumptions</link:label>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the effect of disposals/consumptions on accumulated depreciation for operating lease assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions" xlink:to="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications" xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications" xlink:type="locator"/>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications</link:label>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers / Reclassifications</link:label>
    <link:label xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the effect of transfers/reclassifications on accumulated depreciation for operating lease assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications" xlink:to="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherFinanceIncomeCost" xlink:label="ifrs-full_OtherFinanceIncomeCost" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherFinanceIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other financial results</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinanceIncomeCost" xlink:to="ifrs-full_OtherFinanceIncomeCost-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesCancellations" xlink:label="ts_LeaseLiabilitiesCancellations" xlink:type="locator"/>
    <link:label xlink:label="ts_LeaseLiabilitiesCancellations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LeaseLiabilitiesCancellations</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesCancellations-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cancellations</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesCancellations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the change in lease liabilities during the period attributable to cancellations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LeaseLiabilitiesCancellations" xlink:to="ts_LeaseLiabilitiesCancellations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesAdditions" xlink:label="ts_LeaseLiabilitiesAdditions" xlink:type="locator"/>
    <link:label xlink:label="ts_LeaseLiabilitiesAdditions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LeaseLiabilitiesAdditions</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesAdditions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesAdditions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of additions to lease liabilities during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LeaseLiabilitiesAdditions" xlink:to="ts_LeaseLiabilitiesAdditions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ResearchAndDevelopmentExpense" xlink:label="ifrs-full_ResearchAndDevelopmentExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ResearchAndDevelopmentExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ResearchAndDevelopmentExpense</link:label>
    <link:label xlink:label="ifrs-full_ResearchAndDevelopmentExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Research and development expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ResearchAndDevelopmentExpense" xlink:to="ifrs-full_ResearchAndDevelopmentExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesTranslationDifferences" xlink:label="ts_LeaseLiabilitiesTranslationDifferences" xlink:type="locator"/>
    <link:label xlink:label="ts_LeaseLiabilitiesTranslationDifferences-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LeaseLiabilitiesTranslationDifferences</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesTranslationDifferences-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Translation differences</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesTranslationDifferences-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the impact of translation differences on lease liabilities during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LeaseLiabilitiesTranslationDifferences" xlink:to="ts_LeaseLiabilitiesTranslationDifferences-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations" xlink:label="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations" xlink:type="locator"/>
    <link:label xlink:label="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the increase in lease liabilities during the period due to business combinations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations" xlink:to="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesInterestAccrued" xlink:label="ts_LeaseLiabilitiesInterestAccrued" xlink:type="locator"/>
    <link:label xlink:label="ts_LeaseLiabilitiesInterestAccrued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LeaseLiabilitiesInterestAccrued</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesInterestAccrued-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest accrued</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesInterestAccrued-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the change in lease liabilities during the period attributable to interest accrued.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LeaseLiabilitiesInterestAccrued" xlink:to="ts_LeaseLiabilitiesInterestAccrued-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesRepayments" xlink:label="ts_LeaseLiabilitiesRepayments" xlink:type="locator"/>
    <link:label xlink:label="ts_LeaseLiabilitiesRepayments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_LeaseLiabilitiesRepayments</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesRepayments-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayments</link:label>
    <link:label xlink:label="ts_LeaseLiabilitiesRepayments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the change in lease liabilities during the period from repayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LeaseLiabilitiesRepayments" xlink:to="ts_LeaseLiabilitiesRepayments-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income from discontinued operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:to="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:label="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Loss on fixed assets and material supplies disposed / scrapped</link:label>
    <link:label xlink:label="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:to="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of borrowings [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfBorrowingsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="srt_CounterpartyNameAxis" xlink:type="locator"/>
    <link:label xlink:label="srt_CounterpartyNameAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CounterpartyNameAxis" xlink:to="srt_CounterpartyNameAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="locator"/>
    <link:label xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueOfAcquiree" xlink:label="ifrs-full_RevenueOfAcquiree" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RevenueOfAcquiree-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_RevenueOfAcquiree</link:label>
    <link:label xlink:label="ifrs-full_RevenueOfAcquiree-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue of acquiree since acquisition date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueOfAcquiree" xlink:to="ifrs-full_RevenueOfAcquiree-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Revenue-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:label xlink:label="ifrs-full_Revenue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net sales</link:label>
    <link:label xlink:label="ifrs-full_Revenue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">IFRS - Net Sales</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PercentageOfVotingEquityInterestsAcquired</link:label>
    <link:label xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of voting equity interests acquired</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount [text block]</link:label>
    <link:label xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Text block disclosure regarding the amount by which value that has been assigned to a key assumption must change in order for a unit's recoverable amount to be equal to its carrying amount.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" xlink:to="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" xlink:label="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Projected change rate in future cash flows, measurement input [member]</link:label>
    <link:label xlink:label="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for the rate of change in projected cash flows as a measurement input.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" xlink:to="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrowthRateMeasurementInputMember" xlink:label="ts_GrowthRateMeasurementInputMember" xlink:type="locator"/>
    <link:label xlink:label="ts_GrowthRateMeasurementInputMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Growth rate, measurement input [member]</link:label>
    <link:label xlink:label="ts_GrowthRateMeasurementInputMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a growth rate used as a measurement input.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_GrowthRateMeasurementInputMember" xlink:to="ts_GrowthRateMeasurementInputMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" xlink:type="locator"/>
    <link:label xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in key assumption</link:label>
    <link:label xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount by which value that has been assigned to a key assumption must change in order for a unit's recoverable amount to be equal to its carrying amount, expressed as a percentage.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" xlink:to="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromInterest" xlink:label="ifrs-full_RevenueFromInterest" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RevenueFromInterest-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromInterest" xlink:to="ifrs-full_RevenueFromInterest-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiArabianRiyalUsDollarExchangeRiskMember" xlink:label="ts_SaudiArabianRiyalUsDollarExchangeRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SaudiArabianRiyalUsDollarExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Saudi Arabian Riyal / US Dollar exchange risk [member]</link:label>
    <link:label xlink:label="ts_SaudiArabianRiyalUsDollarExchangeRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to Saudi Arabian Riyal/US Dollar exchange risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SaudiArabianRiyalUsDollarExchangeRiskMember" xlink:to="ts_SaudiArabianRiyalUsDollarExchangeRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of business combinations [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about business combination [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:label="ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfCashFlowStatementExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of cash flow statement [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:to="ifrs-full_DisclosureOfCashFlowStatementExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IndustrialAndOtherMember" xlink:label="ts_IndustrialAndOtherMember" xlink:type="locator"/>
    <link:label xlink:label="ts_IndustrialAndOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial and other [member]</link:label>
    <link:label xlink:label="ts_IndustrialAndOtherMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to industrial and other.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IndustrialAndOtherMember" xlink:to="ts_IndustrialAndOtherMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ParValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nominal value (in dollars per share)</link:label>
    <link:label xlink:label="ifrs-full_ParValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Par value per share (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrocarbonProcessingAndPowerGenerationMember" xlink:label="ts_HydrocarbonProcessingAndPowerGenerationMember" xlink:type="locator"/>
    <link:label xlink:label="ts_HydrocarbonProcessingAndPowerGenerationMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hydrocarbon processing and power generation [member]</link:label>
    <link:label xlink:label="ts_HydrocarbonProcessingAndPowerGenerationMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to hydrocarbon processing and power generation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_HydrocarbonProcessingAndPowerGenerationMember" xlink:to="ts_HydrocarbonProcessingAndPowerGenerationMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="ifrs-full_NumberOfSharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NumberOfSharesOutstanding</link:label>
    <link:label xlink:label="ifrs-full_NumberOfSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares outstanding at end of period (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OilAndGasMember" xlink:label="ts_OilAndGasMember" xlink:type="locator"/>
    <link:label xlink:label="ts_OilAndGasMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Oil and gas [member]</link:label>
    <link:label xlink:label="ts_OilAndGasMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to oil and gas.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OilAndGasMember" xlink:to="ts_OilAndGasMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SegmentRevenuesByMarketExplanatory" xlink:label="ts_SegmentRevenuesByMarketExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ts_SegmentRevenuesByMarketExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment revenues by market [text block]</link:label>
    <link:label xlink:label="ts_SegmentRevenuesByMarketExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Text block disclosure of segment revenues by market.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SegmentRevenuesByMarketExplanatory" xlink:to="ts_SegmentRevenuesByMarketExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total cash and cash equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfSharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares issued (in shares)</link:label>
    <link:label xlink:label="ifrs-full_NumberOfSharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total number of shares issued (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssued" xlink:to="ifrs-full_NumberOfSharesIssued-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Assets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label xlink:label="ifrs-full_Assets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label xlink:label="ifrs-full_Assets-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_Assets-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">At the end of the year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:label="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:type="locator"/>
    <link:label xlink:label="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation of right-of-use assets</link:label>
    <link:label xlink:label="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the cost of sales impact of depreciation of right-of-use assets during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:to="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseInInventoryDueToBusinessCombinations" xlink:label="ts_IncreaseInInventoryDueToBusinessCombinations" xlink:type="locator"/>
    <link:label xlink:label="ts_IncreaseInInventoryDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase in inventory due to business combinations</link:label>
    <link:label xlink:label="ts_IncreaseInInventoryDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of increase in inventory during the period due to business combinations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IncreaseInInventoryDueToBusinessCombinations" xlink:to="ts_IncreaseInInventoryDueToBusinessCombinations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:label="ifrs-full_NumberOfSharesAuthorised" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfSharesAuthorised-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Authorized share capital (in shares)</link:label>
    <link:label xlink:label="ifrs-full_NumberOfSharesAuthorised-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares authorised (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesAuthorised" xlink:to="ifrs-full_NumberOfSharesAuthorised-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets to be recovered after 12 months</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investments in non-consolidated companies</link:label>
    <link:label xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Value</link:label>
    <link:label xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total investments in subsidiaries, joint ventures and associates</link:label>
    <link:label xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">At the end of the year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of commitments and contingent liabilities [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:label="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Recovery on allowance for doubtful receivables</link:label>
    <link:label xlink:label="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts</link:label>
    <link:label xlink:label="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of other operating income attributable to recovery on allowance for doubtful accounts.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:to="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total assets of disposal group classified as held for sale</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:to="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:type="locator"/>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation of right-of-use assets</link:label>
    <link:label xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization of depreciation of right-of-use assets attributable to selling, general and administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Goodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill</link:label>
    <link:label xlink:label="ifrs-full_Goodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill at end of period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations" xlink:label="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations</link:label>
    <link:label xlink:label="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Charge related to withholding taxes for intra group international operations</link:label>
    <link:label xlink:label="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of charge related to withholding taxes for intra group international operations during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations" xlink:to="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Equity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_Equity</link:label>
    <link:label xlink:label="ifrs-full_Equity-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity</link:label>
    <link:label xlink:label="ifrs-full_Equity-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:label xlink:label="ifrs-full_Equity-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Current assets</link:label>
    <link:label xlink:label="ifrs-full_CurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current assets</link:label>
    <link:label xlink:label="ifrs-full_CurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, net</link:label>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">End of the year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" xlink:type="locator"/>
    <link:label xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of additions during the period in investments in subsidiaries, joint ventures and associates.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" xlink:to="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Inventories-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Inventories, net</link:label>
    <link:label xlink:label="ifrs-full_Inventories-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventories</link:label>
    <link:label xlink:label="ifrs-full_Inventories-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current inventories</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Inventories" xlink:to="ifrs-full_Inventories-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations" xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations" xlink:type="locator"/>
    <link:label xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations</link:label>
    <link:label xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to business combinations</link:label>
    <link:label xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the increase in investments in subsidiaries, joint ventures and associates during the period due to business combinations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations" xlink:to="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019" xlink:label="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019</link:label>
    <link:label xlink:label="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining amortisation period of intangible assets material to entity (Year)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019" xlink:to="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentTaxAssetsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax assets</link:label>
    <link:label xlink:label="ifrs-full_CurrentTaxAssetsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current tax assets, current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxAssetsCurrent" xlink:to="ifrs-full_CurrentTaxAssetsCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-current assets</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RecognizedTaxLossesExpiringWithinOneYearPercentage" xlink:label="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage" xlink:type="locator"/>
    <link:label xlink:label="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RecognizedTaxLossesExpiringWithinOneYearPercentage</link:label>
    <link:label xlink:label="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recognized tax losses expiring within one year, percentage</link:label>
    <link:label xlink:label="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the percentage of recognized tax losses expected to expire within one year.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage" xlink:to="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivables" xlink:label="ifrs-full_NoncurrentReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables, net</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentReceivables-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total trade and other non-current receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivables" xlink:to="ifrs-full_NoncurrentReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished</link:label>
    <link:label xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of investments in associates for which there are quoted market prices</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:to="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries" xlink:label="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries" xlink:type="locator"/>
    <link:label xlink:label="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries</link:label>
    <link:label xlink:label="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets related to taxable losses of subsidiaries</link:label>
    <link:label xlink:label="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of deferred tax assets related to taxable losses of the entity's subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries" xlink:to="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</link:label>
    <link:label xlink:label="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to Business Combinations</link:label>
    <link:label xlink:label="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the effect of business combinations on current borrowing borrowings and the current portion of non-current borrowings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfBusinessCombinationsOnLongtermBorrowings" xlink:label="ts_EffectOfBusinessCombinationsOnLongtermBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ts_EffectOfBusinessCombinationsOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EffectOfBusinessCombinationsOnLongtermBorrowings</link:label>
    <link:label xlink:label="ts_EffectOfBusinessCombinationsOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase due to Business Combinations</link:label>
    <link:label xlink:label="ts_EffectOfBusinessCombinationsOnLongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the effect of business combinations on long-term borrowings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EffectOfBusinessCombinationsOnLongtermBorrowings" xlink:to="ts_EffectOfBusinessCombinationsOnLongtermBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-current liabilities:</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage" xlink:label="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage" xlink:type="locator"/>
    <link:label xlink:label="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage</link:label>
    <link:label xlink:label="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recognized tax losses expiring in more than five years, percentage</link:label>
    <link:label xlink:label="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the percentage of recognized tax losses expected to expire in more than five years.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage" xlink:to="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Result for discontinued operations</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Income for discontinued operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage" xlink:label="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage" xlink:type="locator"/>
    <link:label xlink:label="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage</link:label>
    <link:label xlink:label="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recognized tax losses expiring in two to five years, percentage</link:label>
    <link:label xlink:label="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the percentage of recognized tax losses expected to expire in two to five years.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage" xlink:to="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromContinuingOperations" xlink:label="ifrs-full_ProfitLossFromContinuingOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossFromContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ProfitLossFromContinuingOperations</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossFromContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income for continuing operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromContinuingOperations" xlink:to="ifrs-full_ProfitLossFromContinuingOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssetsAbstract" xlink:label="ifrs-full_AssetsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AssetsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ProportionOfVotingPowerHeldInAssociate</link:label>
    <link:label xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of voting rights held in associate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:to="ifrs-full_ProportionOfVotingPowerHeldInAssociate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of ownership</link:label>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in associate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Associates [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears" xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears" xlink:type="locator"/>
    <link:label xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears</link:label>
    <link:label xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unused tax losses for which no deferred tax asset recognised, percent expiring in more than five years</link:label>
    <link:label xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Regarding the unused tax losses for which no deferred tax asset is recognized in the statement of financial position, this element represents the percentage expiring in more than five years.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears" xlink:to="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears" xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears" xlink:type="locator"/>
    <link:label xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears</link:label>
    <link:label xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unused tax losses for which no deferred tax asset recognised, percent expiring between two and five years</link:label>
    <link:label xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Regarding the unused tax losses for which no deferred tax asset is recognized in the statement of financial position, this element represents the percentage expiring in two to five years.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears" xlink:to="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityInteractiveDataCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForAssociatesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for associates [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ifrs-full_EntitysTotalForAssociatesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear" xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear" xlink:type="locator"/>
    <link:label xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear</link:label>
    <link:label xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unused tax losses for which no deferred tax asset recognised, percent expiring in less than one year</link:label>
    <link:label xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Regarding the unused tax losses for which no deferred tax asset is recognized in the statement of financial position, this element represents the percentage expiring in less than one year.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear" xlink:to="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Current liabilities</link:label>
    <link:label xlink:label="ifrs-full_CurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xlink:type="locator"/>
    <link:label xlink:label="dei_Security12bTitle-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ProportionOfOwnershipInterestInJointVenture</link:label>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in joint venture</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:to="ifrs-full_ProportionOfOwnershipInterestInJointVenture-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_JointVenturesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Joint ventures [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_JointVenturesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties" xlink:label="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties</link:label>
    <link:label xlink:label="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds From (Repayments of Loans) Receivable From Related Parties</link:label>
    <link:label xlink:label="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of proceeds from (repayments of loans) receivable from related parties.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties" xlink:to="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForJointVenturesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for joint ventures [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForJointVenturesMember" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-controlling interests</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:label="ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfJointVenturesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of joint ventures [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:to="ifrs-full_DisclosureOfJointVenturesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssociatesMember" xlink:label="ifrs-full_AssociatesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AssociatesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Associates [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssociatesMember" xlink:to="ifrs-full_AssociatesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemuneration" xlink:label="ifrs-full_AuditorsRemuneration" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AuditorsRemuneration-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AuditorsRemuneration</link:label>
    <link:label xlink:label="ifrs-full_AuditorsRemuneration-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AuditorsRemuneration" xlink:to="ifrs-full_AuditorsRemuneration-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Percentage of ownership</link:label>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</link:label>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in subsidiary</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnobservableInputsMember" xlink:label="ifrs-full_UnobservableInputsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_UnobservableInputsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unobservable inputs [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnobservableInputsMember" xlink:to="ifrs-full_UnobservableInputsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForAuditServices" xlink:label="ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AuditorsRemunerationForAuditServices-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Audit fees</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AuditorsRemunerationForAuditServices" xlink:to="ifrs-full_AuditorsRemunerationForAuditServices-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnobservableInputsAxis" xlink:label="ifrs-full_UnobservableInputsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_UnobservableInputsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unobservable inputs [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnobservableInputsAxis" xlink:to="ifrs-full_UnobservableInputsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForOtherServices" xlink:label="ifrs-full_AuditorsRemunerationForOtherServices" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AuditorsRemunerationForOtherServices-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All other fees</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AuditorsRemunerationForOtherServices" xlink:to="ifrs-full_AuditorsRemunerationForOtherServices-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForTaxServices" xlink:label="ifrs-full_AuditorsRemunerationForTaxServices" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AuditorsRemunerationForTaxServices-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax fees</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AuditorsRemunerationForTaxServices" xlink:to="ifrs-full_AuditorsRemunerationForTaxServices-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FineImposedPercentageOfAllegedlyUndueCredits" xlink:label="ts_FineImposedPercentageOfAllegedlyUndueCredits" xlink:type="locator"/>
    <link:label xlink:label="ts_FineImposedPercentageOfAllegedlyUndueCredits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_FineImposedPercentageOfAllegedlyUndueCredits</link:label>
    <link:label xlink:label="ts_FineImposedPercentageOfAllegedlyUndueCredits-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fine imposed, percentage of allegedly undue credits</link:label>
    <link:label xlink:label="ts_FineImposedPercentageOfAllegedlyUndueCredits-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of fine imposed, expressed as a percentage of the allegedly undue credits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FineImposedPercentageOfAllegedlyUndueCredits" xlink:to="ts_FineImposedPercentageOfAllegedlyUndueCredits-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for subsidiaries [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:to="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_EstimatedFinancialEffectOfContingentLiabilities</link:label>
    <link:label xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated financial effect of contingent liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:to="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability related to fiscal year 2014, principal [member]</link:label>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for the portion of a contingent liability, related to the 2014 fiscal year, for taxes attributable to principal.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability related to fiscal year 2014, interest and penalties [member]</link:label>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the interest and penalties portion of tax contingent liabilities related to fiscal year 2014.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BalancesWithBanks" xlink:label="ifrs-full_BalancesWithBanks" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BalancesWithBanks-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash at banks</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BalancesWithBanks" xlink:to="ifrs-full_BalancesWithBanks-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability related to fiscal year 2015, principal [member]</link:label>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for the portion of a contingent liability, related to the 2015 fiscal year, for taxes attributable to principal.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:type="locator"/>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability related to fiscal year 2015 [member]</link:label>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about a tax contingent liability related to the 2015 fiscal year.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_BankOverdraftsClassifiedAsCashEquivalents</link:label>
    <link:label xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Bank overdrafts</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:to="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:type="locator"/>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability related to fiscal year 2014 [member]</link:label>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information about a tax contingent liability related to the 2014 fiscal year.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PerformanceGuaranteesIssued" xlink:label="ts_PerformanceGuaranteesIssued" xlink:type="locator"/>
    <link:label xlink:label="ts_PerformanceGuaranteesIssued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_PerformanceGuaranteesIssued</link:label>
    <link:label xlink:label="ts_PerformanceGuaranteesIssued-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Guarantees Issued</link:label>
    <link:label xlink:label="ts_PerformanceGuaranteesIssued-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of performance guarantees issued as of the specified date.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PerformanceGuaranteesIssued" xlink:to="ts_PerformanceGuaranteesIssued-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NucorSteelMemphisIncMember" xlink:label="ts_NucorSteelMemphisIncMember" xlink:type="locator"/>
    <link:label xlink:label="ts_NucorSteelMemphisIncMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nucor Steel Memphis Inc. [member]</link:label>
    <link:label xlink:label="ts_NucorSteelMemphisIncMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information related to Nucor Steel Memphis Inc.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NucorSteelMemphisIncMember" xlink:to="ts_NucorSteelMemphisIncMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability related to fiscal year 2015, interest and penalties [member]</link:label>
    <link:label xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the interest and penalties portion of tax contingent liabilities related to fiscal year 2015.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:label="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:type="locator"/>
    <link:label xlink:label="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance lease liabilities from non-consolidated parties</link:label>
    <link:label xlink:label="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of finance lease liabilities from non-consolidated parties as of the specified date.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:to="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Colombia1Member" xlink:label="ts_Colombia1Member" xlink:type="locator"/>
    <link:label xlink:label="ts_Colombia1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Colombia [member]</link:label>
    <link:label xlink:label="ts_Colombia1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information regarding Colombia.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_Colombia1Member" xlink:to="ts_Colombia1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:label="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:type="locator"/>
    <link:label xlink:label="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Receivables and prepayments and Current tax assets</link:label>
    <link:label xlink:label="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets</link:label>
    <link:label xlink:label="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for increase (decrease) in receivables and prepayments and current tax assets to reconcile profit (loss) to net cash flow from (used in) operating activities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:to="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisInvestmentsNLBVMember" xlink:label="ts_TenarisInvestmentsNLBVMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisInvestmentsNLBVMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenaris Investments (NL) B.V. [member]</link:label>
    <link:label xlink:label="ts_TenarisInvestmentsNLBVMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information regarding Tenaris Investments (NL) B.V.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisInvestmentsNLBVMember" xlink:to="ts_TenarisInvestmentsNLBVMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularServicesAngolaLdaMember" xlink:label="ts_TubularServicesAngolaLdaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TubularServicesAngolaLdaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tubular Services Angola Lda. [member]</link:label>
    <link:label xlink:label="ts_TubularServicesAngolaLdaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information regarding Tubular Services Angola Lda.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TubularServicesAngolaLdaMember" xlink:to="ts_TubularServicesAngolaLdaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about cash flow disclosures [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about cash flow disclosures.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" xlink:to="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinancialDebtRelatedParties" xlink:label="ts_FinancialDebtRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="ts_FinancialDebtRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_FinancialDebtRelatedParties</link:label>
    <link:label xlink:label="ts_FinancialDebtRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Financial debt, related parties</link:label>
    <link:label xlink:label="ts_FinancialDebtRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of financial debt with related parties.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FinancialDebtRelatedParties" xlink:to="ts_FinancialDebtRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxesAccrued" xlink:label="ts_IncomeTaxesAccrued" xlink:type="locator"/>
    <link:label xlink:label="ts_IncomeTaxesAccrued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_IncomeTaxesAccrued</link:label>
    <link:label xlink:label="ts_IncomeTaxesAccrued-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income taxes accrued</link:label>
    <link:label xlink:label="ts_IncomeTaxesAccrued-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of income taxes accrued.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IncomeTaxesAccrued" xlink:to="ts_IncomeTaxesAccrued-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InterestAccrualsLessPaymentsNetAbstract" xlink:label="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_InterestAccrualsLessPaymentsNetAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest accruals less payments, net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ts_InterestAccrualsLessPaymentsNetAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfCostOfSalesExplanatory" xlink:label="ifrs-full_DisclosureOfCostOfSalesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfCostOfSalesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of cost of sales [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCostOfSalesExplanatory" xlink:to="ifrs-full_DisclosureOfCostOfSalesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AdditionalProvisionsOtherProvisionsReversals" xlink:label="ts_AdditionalProvisionsOtherProvisionsReversals" xlink:type="locator"/>
    <link:label xlink:label="ts_AdditionalProvisionsOtherProvisionsReversals-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_AdditionalProvisionsOtherProvisionsReversals</link:label>
    <link:label xlink:label="ts_AdditionalProvisionsOtherProvisionsReversals-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional/ reversals provisions</link:label>
    <link:label xlink:label="ts_AdditionalProvisionsOtherProvisionsReversals-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of additional other provisions (reversals) made.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AdditionalProvisionsOtherProvisionsReversals" xlink:to="ts_AdditionalProvisionsOtherProvisionsReversals-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:label="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ts_IncomeTaxAccrualsLessPaymentsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax accruals less payments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:to="ts_IncomeTaxAccrualsLessPaymentsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PastDueStatusAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Past due status [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about financial income (cost) [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about financial income (cost). [Refer: Finance income (cost)]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" xlink:to="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="locator"/>
    <link:label xlink:label="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes in non-controlling interests</link:label>
    <link:label xlink:label="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash inflow (outflow) from changes in ownership interests in subsidiaries that do not result in a loss of control.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:to="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PastDueStatusMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Past due status [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusMember" xlink:to="ifrs-full_PastDueStatusMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SanFaustinSaMember" xlink:label="ts_SanFaustinSaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SanFaustinSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">San Faustin S.A. [member]</link:label>
    <link:label xlink:label="ts_SanFaustinSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents San Faustin S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SanFaustinSaMember" xlink:to="ts_SanFaustinSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:label="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:type="locator"/>
    <link:label xlink:label="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net result on changes in FV of financial assets at FVPL</link:label>
    <link:label xlink:label="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the net financial income on changes in fair value of financial assets at fair value through profit os loss.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:to="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnitsIssuedRelatedPartyTransactions" xlink:label="ts_UnitsIssuedRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ts_UnitsIssuedRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_UnitsIssuedRelatedPartyTransactions</link:label>
    <link:label xlink:label="ts_UnitsIssuedRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Units issued, related party transactions (in shares)</link:label>
    <link:label xlink:label="ts_UnitsIssuedRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of units issued in a related party transaction.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UnitsIssuedRelatedPartyTransactions" xlink:to="ts_UnitsIssuedRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RevenueRelatedPartyTransactions" xlink:label="ts_RevenueRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ts_RevenueRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Revenue, related party transactions</link:label>
    <link:label xlink:label="ts_RevenueRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_RevenueRelatedPartyTransactions</link:label>
    <link:label xlink:label="ts_RevenueRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of revenue arising from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_RevenueRelatedPartyTransactions" xlink:to="ts_RevenueRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Borrowings-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Significant borrowings as of closing date</link:label>
    <link:label xlink:label="ifrs-full_Borrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings C and NC</link:label>
    <link:label xlink:label="ifrs-full_Borrowings-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total borrowings</link:label>
    <link:label xlink:label="ifrs-full_Borrowings-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Borrowings</link:label>
    <link:label xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings</link:label>
    <link:label xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Total current borrowings and current portion of non-current borrowings</link:label>
    <link:label xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">At the beginning of the year, current</link:label>
    <link:label xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">At the end of the year, current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmountsReceivablePayableRelatedPartyTransactions" xlink:label="ts_AmountsReceivablePayableRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ts_AmountsReceivablePayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amounts receivable (payable), related party transactions</link:label>
    <link:label xlink:label="ts_AmountsReceivablePayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_AmountsReceivablePayableRelatedPartyTransactions</link:label>
    <link:label xlink:label="ts_AmountsReceivablePayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amounts receivable (payable) resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AmountsReceivablePayableRelatedPartyTransactions" xlink:to="ts_AmountsReceivablePayableRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions" xlink:label="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Purchases of goods and services, related party transactions</link:label>
    <link:label xlink:label="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions</link:label>
    <link:label xlink:label="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of purchases of goods and services in related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions" xlink:to="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceIncomeCostContinuingOperations" xlink:label="ts_FinanceIncomeCostContinuingOperations" xlink:type="locator"/>
    <link:label xlink:label="ts_FinanceIncomeCostContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_FinanceIncomeCostContinuingOperations</link:label>
    <link:label xlink:label="ts_FinanceIncomeCostContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net financial results</link:label>
    <link:label xlink:label="ts_FinanceIncomeCostContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of income or cost associated with interest and other financing activities of the entity attributable to continuing operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FinanceIncomeCostContinuingOperations" xlink:to="ts_FinanceIncomeCostContinuingOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinitelivedIntangibleAssetUsefulLife" xlink:label="ts_FinitelivedIntangibleAssetUsefulLife" xlink:type="locator"/>
    <link:label xlink:label="ts_FinitelivedIntangibleAssetUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_FinitelivedIntangibleAssetUsefulLife</link:label>
    <link:label xlink:label="ts_FinitelivedIntangibleAssetUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-lived intangible asset, useful life (Year)</link:label>
    <link:label xlink:label="ts_FinitelivedIntangibleAssetUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the useful life of finite-lived intangible assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FinitelivedIntangibleAssetUsefulLife" xlink:to="ts_FinitelivedIntangibleAssetUsefulLife-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Borrowings</link:label>
    <link:label xlink:label="ifrs-full_LongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_LongtermBorrowings</link:label>
    <link:label xlink:label="ifrs-full_LongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings</link:label>
    <link:label xlink:label="ifrs-full_LongtermBorrowings-label" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Total non-current portion of non-current borrowings</link:label>
    <link:label xlink:label="ifrs-full_LongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">At the beginning of the year, noncurrent</link:label>
    <link:label xlink:label="ifrs-full_LongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">At the end of the year, noncurrent</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ifrs-full_ShorttermBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShorttermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ShorttermBorrowings</link:label>
    <link:label xlink:label="ifrs-full_ShorttermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermBorrowings" xlink:to="ifrs-full_ShorttermBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherFinancialIncomeCost" xlink:label="ts_OtherFinancialIncomeCost" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherFinancialIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_OtherFinancialIncomeCost</link:label>
    <link:label xlink:label="ts_OtherFinancialIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other financial results</link:label>
    <link:label xlink:label="ts_OtherFinancialIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other income (cost) associated with interest and other financing activities of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherFinancialIncomeCost" xlink:to="ts_OtherFinancialIncomeCost-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BorrowingsByNameMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ifrs-full_BorrowingsByNameMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherForeignExchangeResults" xlink:label="ts_OtherForeignExchangeResults" xlink:type="locator"/>
    <link:label xlink:label="ts_OtherForeignExchangeResults-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label xlink:label="ts_OtherForeignExchangeResults-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of income or cost associated with foreign exchange.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_OtherForeignExchangeResults" xlink:to="ts_OtherForeignExchangeResults-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:label="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:type="locator"/>
    <link:label xlink:label="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Licenses, patents, trademarks, and proprietary technology [member]</link:label>
    <link:label xlink:label="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to licenses, patents, trademarks, and proprietary technology.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:to="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BorrowingsByNameAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsResults" xlink:label="ts_ForeignExchangeDerivativesContractsResults" xlink:type="locator"/>
    <link:label xlink:label="ts_ForeignExchangeDerivativesContractsResults-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange derivatives contracts results</link:label>
    <link:label xlink:label="ts_ForeignExchangeDerivativesContractsResults-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of income or cost associated with foreign exchange derivatives contracts.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ForeignExchangeDerivativesContractsResults" xlink:to="ts_ForeignExchangeDerivativesContractsResults-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetForeignExchangeTransactionResults" xlink:label="ts_NetForeignExchangeTransactionResults" xlink:type="locator"/>
    <link:label xlink:label="ts_NetForeignExchangeTransactionResults-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net foreign exchange transactions results</link:label>
    <link:label xlink:label="ts_NetForeignExchangeTransactionResults-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of net income or cost associated with foreign exchange transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NetForeignExchangeTransactionResults" xlink:to="ts_NetForeignExchangeTransactionResults-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilCompanyAndSubsidiariesMember" xlink:label="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_HydrilCompanyAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">HYDRIL COMPANY and subsidiaries [member]</link:label>
    <link:label xlink:label="ts_HydrilCompanyAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity HYDRIL COMPANY and subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_HydrilCompanyAndSubsidiariesMember" xlink:to="ts_HydrilCompanyAndSubsidiariesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:label="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TechnicalDrillingProductionServicesNigeriaLtdMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Technical Drilling &amp; Production Services Nigeria. Ltd [member]</link:label>
    <link:label xlink:label="ts_TechnicalDrillingProductionServicesNigeriaLtdMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Technical Drilling &amp; Production Services Nigeria. Ltd.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:to="ts_TechnicalDrillingProductionServicesNigeriaLtdMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="ifrs-full_BorrowingsInterestRate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BorrowingsInterestRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total borrowings, weighted average interest rates</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:label="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TubularTechnicalServicesAndPipeCoatersMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tubular Technical Services and Pipe Coaters [member]</link:label>
    <link:label xlink:label="ts_TubularTechnicalServicesAndPipeCoatersMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Tubular Technical Services and Pipe Coaters.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:to="ts_TubularTechnicalServicesAndPipeCoatersMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BottomOfRangeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bottom of range [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmajaTubularServicesLimitedMember" xlink:label="ts_AmajaTubularServicesLimitedMember" xlink:type="locator"/>
    <link:label xlink:label="ts_AmajaTubularServicesLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amaja Tubular Services Limited [member]</link:label>
    <link:label xlink:label="ts_AmajaTubularServicesLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Amaja Tubular Services Limited.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AmajaTubularServicesLimitedMember" xlink:to="ts_AmajaTubularServicesLimitedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisSupplyChainSAMember" xlink:label="ts_TenarisSupplyChainSAMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisSupplyChainSAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenaris Supply Chain S.A. [member]</link:label>
    <link:label xlink:label="ts_TenarisSupplyChainSAMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Tenaris Supply Chain S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisSupplyChainSAMember" xlink:to="ts_TenarisSupplyChainSAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for business combinations [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinitelivedIntangibleAssetResidualValue" xlink:label="ts_FinitelivedIntangibleAssetResidualValue" xlink:type="locator"/>
    <link:label xlink:label="ts_FinitelivedIntangibleAssetResidualValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_FinitelivedIntangibleAssetResidualValue</link:label>
    <link:label xlink:label="ts_FinitelivedIntangibleAssetResidualValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-lived intangible asset, residual value</link:label>
    <link:label xlink:label="ts_FinitelivedIntangibleAssetResidualValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the aggregate expected value at the end of their useful life of a finite-lived intangible asset.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FinitelivedIntangibleAssetResidualValue" xlink:to="ts_FinitelivedIntangibleAssetResidualValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BusinessCombinationsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business combinations [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_BusinessCombinationsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CONFAB INDUSTRIAL S.A. and subsidiaries [member]</link:label>
    <link:label xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity CONFAB INDUSTRIAL S.A. and subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AlgomaTubesIncMember" xlink:label="ts_AlgomaTubesIncMember" xlink:type="locator"/>
    <link:label xlink:label="ts_AlgomaTubesIncMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ALGOMA TUBES INC. [member]</link:label>
    <link:label xlink:label="ts_AlgomaTubesIncMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity ALGOMA TUBES INC.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AlgomaTubesIncMember" xlink:to="ts_AlgomaTubesIncMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DalmineSPAMember" xlink:label="ts_DalmineSPAMember" xlink:type="locator"/>
    <link:label xlink:label="ts_DalmineSPAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">DALMINE S.p.A. [member]</link:label>
    <link:label xlink:label="ts_DalmineSPAMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to the entity DALMINE S.p.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DalmineSPAMember" xlink:to="ts_DalmineSPAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SidercaSaicAndSubsidiariesMember" xlink:label="ts_SidercaSaicAndSubsidiariesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SidercaSaicAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SIDERCA S.A.I.C. and subsidiaries [member]</link:label>
    <link:label xlink:label="ts_SidercaSaicAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity SIDERCA S.A.I.C. and subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SidercaSaicAndSubsidiariesMember" xlink:to="ts_SidercaSaicAndSubsidiariesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinitelivedIntangibleAssetResidualUsefulLife" xlink:label="ts_FinitelivedIntangibleAssetResidualUsefulLife" xlink:type="locator"/>
    <link:label xlink:label="ts_FinitelivedIntangibleAssetResidualUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_FinitelivedIntangibleAssetResidualUsefulLife</link:label>
    <link:label xlink:label="ts_FinitelivedIntangibleAssetResidualUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-lived intangible asset, residual useful life (Year)</link:label>
    <link:label xlink:label="ts_FinitelivedIntangibleAssetResidualUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the residual useful life of a finite-lived intangible asset.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_FinitelivedIntangibleAssetResidualUsefulLife" xlink:to="ts_FinitelivedIntangibleAssetResidualUsefulLife-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SiatSociedadAnonimaMember" xlink:label="ts_SiatSociedadAnonimaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_SiatSociedadAnonimaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SIAT SOCIEDAD ANONIMA [member]</link:label>
    <link:label xlink:label="ts_SiatSociedadAnonimaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity SIAT SOCIEDAD ANONIMA.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SiatSociedadAnonimaMember" xlink:to="ts_SiatSociedadAnonimaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickTubeCorporationAndSubsidiariesMember" xlink:label="ts_MaverickTubeCorporationAndSubsidiariesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_MaverickTubeCorporationAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MAVERICK TUBE CORPORATION and subsidiaries [member]</link:label>
    <link:label xlink:label="ts_MaverickTubeCorporationAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity MAVERICK TUBE CORPORATION and subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_MaverickTubeCorporationAndSubsidiariesMember" xlink:to="ts_MaverickTubeCorporationAndSubsidiariesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NkktubesMember" xlink:label="ts_NkktubesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_NkktubesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NKKTUBES [member]</link:label>
    <link:label xlink:label="ts_NkktubesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity NKKTUBES.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NkktubesMember" xlink:to="ts_NkktubesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" xlink:label="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TALTA&#8212;TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA. [member]</link:label>
    <link:label xlink:label="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TALTA&#8212;TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" xlink:to="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubosDeAceroDeMexicoSaMember" xlink:label="ts_TubosDeAceroDeMexicoSaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TubosDeAceroDeMexicoSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TUBOS DE ACERO DE MEXICO S.A. [member]</link:label>
    <link:label xlink:label="ts_TubosDeAceroDeMexicoSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TUBOS DE ACERO DE MEXICO S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TubosDeAceroDeMexicoSaMember" xlink:to="ts_TubosDeAceroDeMexicoSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ScSilcotubSaMember" xlink:label="ts_ScSilcotubSaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_ScSilcotubSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">S.C. SILCOTUB S.A. [member]</link:label>
    <link:label xlink:label="ts_ScSilcotubSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity S.C. SILCOTUB S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ScSilcotubSaMember" xlink:to="ts_ScSilcotubSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="ifrs-full_GrossCarryingAmountMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GrossCarryingAmountMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross carrying amount [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossCarryingAmountMember" xlink:to="ifrs-full_GrossCarryingAmountMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PtSeamlessPipeIndonesiaJayaMember" xlink:label="ts_PtSeamlessPipeIndonesiaJayaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_PtSeamlessPipeIndonesiaJayaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PT SEAMLESS PIPE INDONESIA JAYA [member]</link:label>
    <link:label xlink:label="ts_PtSeamlessPipeIndonesiaJayaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity PT SEAMLESS PIPE INDONESIA JAYA.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_PtSeamlessPipeIndonesiaJayaMember" xlink:to="ts_PtSeamlessPipeIndonesiaJayaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CarryingAmountMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisInvestmentsSrlMember" xlink:label="ts_TenarisInvestmentsSrlMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisInvestmentsSrlMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS INVESTMENTS S.&#224;r.l. [member]</link:label>
    <link:label xlink:label="ts_TenarisInvestmentsSrlMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS INVESTMENTS S.&#224;r.l.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisInvestmentsSrlMember" xlink:to="ts_TenarisInvestmentsSrlMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" xlink:label="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries [member]</link:label>
    <link:label xlink:label="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" xlink:to="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Cash" xlink:label="ifrs-full_Cash" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Cash-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_Cash</link:label>
    <link:label xlink:label="ifrs-full_Cash-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total cash</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Cash" xlink:to="ifrs-full_Cash-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisBayCityIncMember" xlink:label="ts_TenarisBayCityIncMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisBayCityIncMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS BAY CITY, INC. [member]</link:label>
    <link:label xlink:label="ts_TenarisBayCityIncMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS BAY CITY, INC.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisBayCityIncMember" xlink:to="ts_TenarisBayCityIncMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesCanadaIncMember" xlink:label="ts_TenarisGlobalServicesCanadaIncMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisGlobalServicesCanadaIncMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS GLOBAL SERVICES (CANADA) INC. [member]</link:label>
    <link:label xlink:label="ts_TenarisGlobalServicesCanadaIncMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS GLOBAL SERVICES (CANADA) INC.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisGlobalServicesCanadaIncMember" xlink:to="ts_TenarisGlobalServicesCanadaIncMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisFinancialServicesSaMember" xlink:label="ts_TenarisFinancialServicesSaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisFinancialServicesSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS FINANCIAL SERVICES S.A. [member]</link:label>
    <link:label xlink:label="ts_TenarisFinancialServicesSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS FINANCIAL SERVICES S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisFinancialServicesSaMember" xlink:to="ts_TenarisFinancialServicesSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesSaAndSubsidiariesMember" xlink:label="ts_TenarisGlobalServicesSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisGlobalServicesSaAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS GLOBAL SERVICES S.A. and subsidiaries [member]</link:label>
    <link:label xlink:label="ts_TenarisGlobalServicesSaAndSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS GLOBAL SERVICES S.A. and subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisGlobalServicesSaAndSubsidiariesMember" xlink:to="ts_TenarisGlobalServicesSaAndSubsidiariesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesUkLtdMember" xlink:label="ts_TenarisGlobalServicesUkLtdMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisGlobalServicesUkLtdMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS GLOBAL SERVICES (UK) LTD [member]</link:label>
    <link:label xlink:label="ts_TenarisGlobalServicesUkLtdMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS GLOBAL SERVICES (UK) LTD.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisGlobalServicesUkLtdMember" xlink:to="ts_TenarisGlobalServicesUkLtdMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashAdvancesAndLoansMadeToRelatedParties</link:label>
    <link:label xlink:label="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Loan to non-consolidated companies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:to="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesUsaCorporationMember" xlink:label="ts_TenarisGlobalServicesUsaCorporationMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisGlobalServicesUsaCorporationMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION [member]</link:label>
    <link:label xlink:label="ts_TenarisGlobalServicesUsaCorporationMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisGlobalServicesUsaCorporationMember" xlink:to="ts_TenarisGlobalServicesUsaCorporationMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short &#8211; term investments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies" xlink:label="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies" xlink:type="locator"/>
    <link:label xlink:label="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies</link:label>
    <link:label xlink:label="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity in earnings of non-consolidated companies</link:label>
    <link:label xlink:label="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of income (loss) from equity method investments in non-consolidated companies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies" xlink:to="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liquidity funds</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss" xlink:label="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss" xlink:type="locator"/>
    <link:label xlink:label="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss</link:label>
    <link:label xlink:label="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">After tax effect of expense not deductible in determining profit (loss)</link:label>
    <link:label xlink:label="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount represents the difference between the after tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to expenses not deductible in determining profit (loss).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss" xlink:to="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisTubocaribeLtdaMember" xlink:label="ts_TenarisTubocaribeLtdaMember" xlink:type="locator"/>
    <link:label xlink:label="ts_TenarisTubocaribeLtdaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENARIS TUBOCARIBE LTDA. [member]</link:label>
    <link:label xlink:label="ts_TenarisTubocaribeLtdaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity TENARIS TUBOCARIBE LTDA.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_TenarisTubocaribeLtdaMember" xlink:to="ts_TenarisTubocaribeLtdaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsUnitVestingPeriod" xlink:label="ts_EmployeeBenefitsUnitVestingPeriod" xlink:type="locator"/>
    <link:label xlink:label="ts_EmployeeBenefitsUnitVestingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EmployeeBenefitsUnitVestingPeriod</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsUnitVestingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee benefits, unit vesting period (Year)</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsUnitVestingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the period that units under an employee retention and long term incentive program vest ratably.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EmployeeBenefitsUnitVestingPeriod" xlink:to="ts_EmployeeBenefitsUnitVestingPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsCompanyRedemptionPeriod" xlink:label="ts_EmployeeBenefitsCompanyRedemptionPeriod" xlink:type="locator"/>
    <link:label xlink:label="ts_EmployeeBenefitsCompanyRedemptionPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EmployeeBenefitsCompanyRedemptionPeriod</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsCompanyRedemptionPeriod-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee benefits, company redemption period (Year)</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsCompanyRedemptionPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the period at which the company will redeem units granted under the employee retention and long term inventive program.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EmployeeBenefitsCompanyRedemptionPeriod" xlink:to="ts_EmployeeBenefitsCompanyRedemptionPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:label="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale</link:label>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash at the beginning</link:label>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash at the end</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:to="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies" xlink:label="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies" xlink:type="locator"/>
    <link:label xlink:label="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies</link:label>
    <link:label xlink:label="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment loss on equity method investment in non-consolidated companies</link:label>
    <link:label xlink:label="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of impairment loss on equity method investment in non-consolidated companies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies" xlink:to="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfVotesPerShare" xlink:label="ts_NumberOfVotesPerShare" xlink:type="locator"/>
    <link:label xlink:label="ts_NumberOfVotesPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NumberOfVotesPerShare</link:label>
    <link:label xlink:label="ts_NumberOfVotesPerShare-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of votes, per share</link:label>
    <link:label xlink:label="ts_NumberOfVotesPerShare-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the number of votes given to each share of stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NumberOfVotesPerShare" xlink:to="ts_NumberOfVotesPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:label="ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDeferredTaxesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of deferred taxes [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:to="ifrs-full_DisclosureOfDeferredTaxesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalentsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_CashAndCashEquivalentsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan" xlink:label="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan</link:label>
    <link:label xlink:label="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimate of contributions expected to be paid to plan for next annual reporting period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan" xlink:to="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsEarlyRedemptionPeriod" xlink:label="ts_EmployeeBenefitsEarlyRedemptionPeriod" xlink:type="locator"/>
    <link:label xlink:label="ts_EmployeeBenefitsEarlyRedemptionPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_EmployeeBenefitsEarlyRedemptionPeriod</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsEarlyRedemptionPeriod-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee benefits, early redemption period (Year)</link:label>
    <link:label xlink:label="ts_EmployeeBenefitsEarlyRedemptionPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the period that the company may exercise an option to for early redemption of units granted under the employee retention and long term incentive program.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_EmployeeBenefitsEarlyRedemptionPeriod" xlink:to="ts_EmployeeBenefitsEarlyRedemptionPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition</link:label>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total cash and cash equivalents if different from statement of financial position</link:label>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">At December 31,</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SurplusDeficitInPlan" xlink:label="ifrs-full_SurplusDeficitInPlan" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SurplusDeficitInPlan-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_SurplusDeficitInPlan</link:label>
    <link:label xlink:label="ifrs-full_SurplusDeficitInPlan-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Liability</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SurplusDeficitInPlan" xlink:to="ifrs-full_SurplusDeficitInPlan-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in value of cash flow hedges and instruments at fair value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PlanAssetsAtFairValue" xlink:label="ifrs-full_PlanAssetsAtFairValue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PlanAssetsAtFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PlanAssetsAtFairValue</link:label>
    <link:label xlink:label="ifrs-full_PlanAssetsAtFairValue-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Fair value of plan assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsAtFairValue" xlink:to="ifrs-full_PlanAssetsAtFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" xlink:to="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CarryingValueOfUnitsGranted" xlink:label="ts_CarryingValueOfUnitsGranted" xlink:type="locator"/>
    <link:label xlink:label="ts_CarryingValueOfUnitsGranted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_CarryingValueOfUnitsGranted</link:label>
    <link:label xlink:label="ts_CarryingValueOfUnitsGranted-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying value of units granted</link:label>
    <link:label xlink:label="ts_CarryingValueOfUnitsGranted-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the carrying value of units granted to date under the employee retention and long term incentive program.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_CarryingValueOfUnitsGranted" xlink:to="ts_CarryingValueOfUnitsGranted-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowHedgesMember" xlink:label="ifrs-full_CashFlowHedgesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowHedgesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flow hedges [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowHedgesMember" xlink:to="ifrs-full_CashFlowHedgesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" xlink:to="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:label xlink:label="ts_UsiminasMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Usiminas [member]</link:label>
    <link:label xlink:label="ts_UsiminasMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to Usiminas.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_UsiminasMember" xlink:to="ts_UsiminasMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption</link:label>
    <link:label xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of reasonably possible increase in actuarial assumption</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:to="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Used in financing activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfSharesSubscribedTo" xlink:label="ts_NumberOfSharesSubscribedTo" xlink:type="locator"/>
    <link:label xlink:label="ts_NumberOfSharesSubscribedTo-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NumberOfSharesSubscribedTo</link:label>
    <link:label xlink:label="ts_NumberOfSharesSubscribedTo-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares subscribed to (in shares)</link:label>
    <link:label xlink:label="ts_NumberOfSharesSubscribedTo-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of shares subscribed to.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NumberOfSharesSubscribedTo" xlink:to="ts_NumberOfSharesSubscribedTo-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">(Decrease) Increase in cash</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashFlowsFromUsedInFinancingActivities</link:label>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in financing activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of fair value of plan assets [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SharesSubscribedToPricePerShare" xlink:label="ts_SharesSubscribedToPricePerShare" xlink:type="locator"/>
    <link:label xlink:label="ts_SharesSubscribedToPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SharesSubscribedToPricePerShare</link:label>
    <link:label xlink:label="ts_SharesSubscribedToPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares subscribed to, price per share (in BRL per share)</link:label>
    <link:label xlink:label="ts_SharesSubscribedToPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the price per share of shares subscribed to.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SharesSubscribedToPricePerShare" xlink:to="ts_SharesSubscribedToPricePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Levels of fair value hierarchy [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SharesSubscribedToValue" xlink:label="ts_SharesSubscribedToValue" xlink:type="locator"/>
    <link:label xlink:label="ts_SharesSubscribedToValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_SharesSubscribedToValue</link:label>
    <link:label xlink:label="ts_SharesSubscribedToValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares subscribed to, value</link:label>
    <link:label xlink:label="ts_SharesSubscribedToValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the value of shares subscribed to.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_SharesSubscribedToValue" xlink:to="ts_SharesSubscribedToValue-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InterestInAssociateSharesOwned" xlink:label="ts_InterestInAssociateSharesOwned" xlink:type="locator"/>
    <link:label xlink:label="ts_InterestInAssociateSharesOwned-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_InterestInAssociateSharesOwned</link:label>
    <link:label xlink:label="ts_InterestInAssociateSharesOwned-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest in associate, shares owned (in shares)</link:label>
    <link:label xlink:label="ts_InterestInAssociateSharesOwned-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of shares owned of an associate entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_InterestInAssociateSharesOwned" xlink:to="ts_InterestInAssociateSharesOwned-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</link:label>
    <link:label xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net defined benefit liability (asset) at end of period</link:label>
    <link:label xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Values at the beginning of the year</link:label>
    <link:label xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">At the end of the year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" xlink:label="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Nationalization of Subsidiaries [text block]</link:label>
    <link:label xlink:label="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entire disclosure for the nationalization of subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" xlink:to="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest" xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest" xlink:type="locator"/>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nationalization of subsidiaries, compensation award not including pre-award interest</link:label>
    <link:label xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount awarded, not including pre-award interest, as compensation for the nationalization of subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest" xlink:to="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfMajorBusinessSegments" xlink:label="ts_NumberOfMajorBusinessSegments" xlink:type="locator"/>
    <link:label xlink:label="ts_NumberOfMajorBusinessSegments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NumberOfMajorBusinessSegments</link:label>
    <link:label xlink:label="ts_NumberOfMajorBusinessSegments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of major business segments</link:label>
    <link:label xlink:label="ts_NumberOfMajorBusinessSegments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the number of major business segments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NumberOfMajorBusinessSegments" xlink:to="ts_NumberOfMajorBusinessSegments-label" xlink:type="arc"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfReportableOperatingSegments" xlink:label="ts_NumberOfReportableOperatingSegments" xlink:type="locator"/>
    <link:label xlink:label="ts_NumberOfReportableOperatingSegments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ts_NumberOfReportableOperatingSegments</link:label>
    <link:label xlink:label="ts_NumberOfReportableOperatingSegments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of reportable operating segments</link:label>
    <link:label xlink:label="ts_NumberOfReportableOperatingSegments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the number of reportable operating segments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ts_NumberOfReportableOperatingSegments" xlink:to="ts_NumberOfReportableOperatingSegments-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities</link:label>
    <link:label xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends paid to non-controlling interest in subsidiaries</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities-label" xlink:type="arc"/>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>14
<FILENAME>ts-20191231_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome XBRL - 02:20AM UTC 2020-04-30--><link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-34-delisting-of-tenariss-shares-from-the-buenos-aires-stock-exchange" xlink:href="ts-20191231.xsd#statement-note-34-delisting-of-tenariss-shares-from-the-buenos-aires-stock-exchange" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-34-delisting-of-tenariss-shares-from-the-buenos-aires-stock-exchange" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DelistingOfSharesFromStockExchangeExplanatory" xlink:label="ts_DelistingOfSharesFromStockExchangeExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DelistingOfSharesFromStockExchangeExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant" xlink:href="ts-20191231.xsd#statement-note-31-fees-paid-to-the-companys-principal-accountant" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:label="ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures" xlink:href="ts-20191231.xsd#statement-note-28-cash-flow-disclosures" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:label="ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions" xlink:href="ts-20191231.xsd#statement-note-23-current-allowances-and-provisions" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" xlink:label="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions" xlink:href="ts-20191231.xsd#statement-note-22-noncurrent-allowances-and-provisions" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" xlink:label="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings" xlink:href="ts-20191231.xsd#statement-note-19-borrowings" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments" xlink:href="ts-20191231.xsd#statement-note-18-cash-and-cash-equivalents-and-other-investments" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:label="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net" xlink:href="ts-20191231.xsd#statement-note-17-trade-receivables-net" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory" xlink:label="ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net" xlink:href="ts-20191231.xsd#statement-note-15-receivables-and-prepayments-net" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" xlink:label="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfReceivablesAndPrepaymentsTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses" xlink:href="ts-20191231.xsd#statement-note-5-other-operating-income-and-expenses" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net" xlink:href="ts-20191231.xsd#statement-note-14-inventories-net" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInventoriesExplanatory" xlink:label="ifrs-full_DisclosureOfInventoriesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfInventoriesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current" xlink:href="ts-20191231.xsd#statement-note-13-receivables-non-current" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfNoncurrentReceivablesTextBlock" xlink:label="ts_DisclosureOfNoncurrentReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfNoncurrentReceivablesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses" xlink:href="ts-20191231.xsd#statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses" xlink:href="ts-20191231.xsd#statement-note-3-selling-general-and-administrative-expenses" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales" xlink:href="ts-20191231.xsd#statement-note-2-cost-of-sales" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfCostOfSalesExplanatory" xlink:label="ifrs-full_DisclosureOfCostOfSalesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfCostOfSalesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-i-general-information" xlink:href="ts-20191231.xsd#statement-i-general-information" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-i-general-information" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-document-and-entity-information" xlink:href="ts-20191231.xsd#statement-document-and-entity-information" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-document-and-entity-information" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
	<link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" xlink:type="locator"/>
	<link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" xlink:type="locator"/>
	<link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityRegistrantName" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCentralIndexKey" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_TradingSymbol" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_CurrentFiscalYearEndDate" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityFilerCategory" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCurrentReportingStatus" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityVoluntaryFilers" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityWellKnownSeasonedIssuer" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityEmergingGrowthCompany" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityInteractiveDataCurrent" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCommonStockSharesOutstanding" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityShellCompany" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentType" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentPeriodEndDate" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalYearFocus" xlink:type="arc"/>
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalPeriodFocus" xlink:type="arc"/>
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_AmendmentFlag" xlink:type="arc"/>
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_Security12bTitle" xlink:type="arc"/>
	<link:presentationArc order="30" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentAnnualReport" xlink:type="arc"/>
    <link:presentationArc order="31" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentTransitionReport" xlink:type="arc"/>
    <link:presentationArc order="32" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentShellCompanyReport" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity-parentheticals" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-changes-in-equity-parentheticals" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity-parentheticals" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:label="ifrs-full_NumberOfSharesAuthorised" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_StatementOfChangesInEquityAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesAuthorised" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ParValuePerShare" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesIssued" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies" xlink:href="ts-20191231.xsd#statement-ii-accounting-policies" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsAxis" xlink:label="ifrs-full_TypesOfContractsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsMember" xlink:label="ifrs-full_TypesOfContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Canada1Member" xlink:label="ts_Canada1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabMember" xlink:label="ts_ConfabMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrillAcquisitionMember" xlink:label="ts_HydrillAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InformationSystemProjectsMember" xlink:label="ts_InformationSystemProjectsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:label="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickAcquisitionMember" xlink:label="ts_MaverickAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NSSMCMember" xlink:label="ts_NSSMCMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OCTGUSAMember" xlink:label="ts_OCTGUSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PrevidenciaUsiminasMember" xlink:label="ts_PrevidenciaUsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TTGroupMember" xlink:label="ts_TTGroupMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TecpetrolInternationalSAMember" xlink:label="ts_TecpetrolInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisMember" xlink:label="ts_TenarisMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumEntititesMember" xlink:label="ts_TerniumEntititesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TheNewSHAMember" xlink:label="ts_TheNewSHAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TrademarksMember" xlink:label="ts_TrademarksMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:label="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ifrs-full_TypesOfContractsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_PreferenceSharesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_OrdinarySharesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfContractsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ts_TheNewSHAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TTGroupMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TerniumEntititesMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_ConfabMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_NSSMCMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_PrevidenciaUsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_JointVenturesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TecpetrolInternationalSAMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TenarisMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_TopOfRangeMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ts_InformationSystemProjectsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ts_TrademarksMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_MaverickAcquisitionMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_HydrillAcquisitionMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_BottomOfRangeMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ts_OCTGUSAMember" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_IT" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_Canada1Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management" xlink:href="ts-20191231.xsd#statement-iii-financial-risk-management" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialGuaranteeContractsMember" xlink:label="ifrs-full_FinancialGuaranteeContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:label="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CounterpartyRiskMember" xlink:label="ts_CounterpartyRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CustomerConcentrationRisk1Member" xlink:label="ts_CustomerConcentrationRisk1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsMember" xlink:label="ts_ForeignExchangeDerivativesContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GuaranteesUnderCreditInsuranceMember" xlink:label="ts_GuaranteesUnderCreditInsuranceMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:label="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherGuaranteesMember" xlink:label="ts_OtherGuaranteesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PastDueMember" xlink:label="ts_PastDueMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="currency_AllCurrenciesDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfRisksAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_HedgingInstrumentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeDerivativesContractsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfInterestRatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_FixedInterestRateMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_CustomerConcentrationRisk1Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ts_GuaranteesUnderCreditInsuranceMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ts_OtherGuaranteesMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_PastDueStatusAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ts_PastDueMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_FinancialGuaranteeContractsMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_CounterpartyRiskMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="srt_CurrencyAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information" xlink:href="ts-20191231.xsd#statement-note-1-segment-information" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:label="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GovernmentCustomersMember" xlink:label="ifrs-full_GovernmentCustomersMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersAxis" xlink:label="ifrs-full_TypesOfCustomersAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersMember" xlink:label="ifrs-full_TypesOfCustomersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Argentina1Member" xlink:label="ts_Argentina1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisMember" xlink:label="ts_TenarisMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfCustomersAxis" xlink:to="ifrs-full_TypesOfCustomersMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_LU" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_Argentina1Member" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TenarisMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfCustomersAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfCustomersAxis" xlink:to="ifrs-full_GovernmentCustomersMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results" xlink:href="ts-20191231.xsd#statement-note-6-financial-results" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-6-financial-results" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsCategoryMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax" xlink:href="ts-20191231.xsd#statement-note-7-income-tax" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_AR" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution" xlink:href="ts-20191231.xsd#statement-note-8-dividends-distribution" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDividendsExplanatory" xlink:label="ifrs-full_DisclosureOfDividendsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDividendsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net" xlink:href="ts-20191231.xsd#statement-note-9-property-plant-and-equipment-net" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Europe1Member" xlink:label="ts_Europe1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MiddleEastAndAfricaMember" xlink:label="ts_MiddleEastAndAfricaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NorthAmerica1Member" xlink:label="ts_NorthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SouthAmerica1Member" xlink:label="ts_SouthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_NorthAmerica1Member" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_SouthAmerica1Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_Europe1Member" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_MiddleEastAndAfricaMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfLeasesExplanatory" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_MaturityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_NotLaterThanOneYearMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanFiveYearsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfLeasesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:label="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SeveralBanksToRefinanceObligationsMember" xlink:label="ts_SeveralBanksToRefinanceObligationsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TecpetrolInternationalSAMember" xlink:label="ts_TecpetrolInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumAndUsiminasMember" xlink:label="ts_TerniumAndUsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TerniumAndUsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_OrdinarySharesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_PreferenceSharesMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ts_TecpetrolInternationalSAMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ts_SeveralBanksToRefinanceObligationsMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:label="ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsAxis" xlink:label="ifrs-full_ActuarialAssumptionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedPostemploymentBenefitsMember" xlink:label="ts_UnfundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_UnfundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ActuarialAssumptionsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits" xlink:href="ts-20191231.xsd#statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContingentLiabilitiesMember" xlink:label="ifrs-full_ContingentLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:label="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxContingentLiabilityMember" xlink:label="ifrs-full_TaxContingentLiabilityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="srt_CounterpartyNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AirLiquideMexicoSDeRLDeCVMember" xlink:label="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CanadianNationalRailwayMember" xlink:label="ts_CanadianNationalRailwayMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ChubbMember" xlink:label="ts_ChubbMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CompanhiaSiderrgicaNacionalMember" xlink:label="ts_CompanhiaSiderrgicaNacionalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabMember" xlink:label="ts_ConfabMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DalmineSPAMember" xlink:label="ts_DalmineSPAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GraftechMember" xlink:label="ts_GraftechMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NucorSteelMemphisIncMember" xlink:label="ts_NucorSteelMemphisIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PraxairSAMember" xlink:label="ts_PraxairSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransportadoraDeGasDelNorteSaMember" xlink:label="ts_TransportadoraDeGasDelNorteSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TribunalDeContasDaUniaoMember" xlink:label="ts_TribunalDeContasDaUniaoMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ValeInternationalSAMember" xlink:label="ts_ValeInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VeracelCeluloseSaMember" xlink:label="ts_VeracelCeluloseSaMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_ContingentLiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CounterpartyNameAxis" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_CompanhiaSiderrgicaNacionalMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_ConfabMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="srt_CounterpartyNameAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CounterpartyNameAxis" xlink:to="ts_ChubbMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CounterpartyNameAxis" xlink:to="ts_VeracelCeluloseSaMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_TribunalDeContasDaUniaoMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_TaxContingentLiabilityMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_BR" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_DalmineSPAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_IT" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_TransportadoraDeGasDelNorteSaMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_PraxairSAMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_GraftechMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_ValeInternationalSAMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_CanadianNationalRailwayMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_NucorSteelMemphisIncMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia" xlink:href="ts-20191231.xsd#statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:label="ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PAOPSeverstalMember" xlink:label="ts_PAOPSeverstalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WeldedPipePlantInWestSiberiaMember" xlink:label="ts_WeldedPipePlantInWestSiberiaMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_JointVenturesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ts_WeldedPipePlantInWestSiberiaMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_PAOPSeverstalMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations" xlink:href="ts-20191231.xsd#statement-note-27-business-combinations" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GarrettMember" xlink:label="ts_GarrettMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_GarrettMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:label="ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions" xlink:href="ts-20191231.xsd#statement-note-30-related-party-transactions" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SanFaustinSaMember" xlink:label="ts_SanFaustinSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ts_SanFaustinSaMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries" xlink:href="ts-20191231.xsd#statement-note-32-principal-subsidiaries" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:label="ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmajaTubularServicesLimitedMember" xlink:label="ts_AmajaTubularServicesLimitedMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilCompanyAndSubsidiariesMember" xlink:label="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:label="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisSupplyChainSAMember" xlink:label="ts_TenarisSupplyChainSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularServicesAngolaLdaMember" xlink:label="ts_TubularServicesAngolaLdaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:label="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisSupplyChainSAMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_AmajaTubularServicesLimitedMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TubularServicesAngolaLdaMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries" xlink:href="ts-20191231.xsd#statement-note-33-nationalization-of-venezuelan-subsidiaries" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_VE" xlink:label="country_VE" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" xlink:label="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MatesiMaterialesSiderrgicosSaMember" xlink:label="ts_MatesiMaterialesSiderrgicosSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TavsaAndComsiguaMember" xlink:label="ts_TavsaAndComsiguaMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_MatesiMaterialesSiderrgicosSaMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="country_VE" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TavsaAndComsiguaMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfNationalizationOfSubsidiariesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events" xlink:href="ts-20191231.xsd#statement-note-35-subsequent-events" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020" xlink:href="ts-20191231.xsd#statement-note-36-update-as-of-april-29-2020" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" xlink:label="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GlobalPandemicMember" xlink:label="ts_GlobalPandemicMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ImpairmentOfAssetsMember" xlink:label="ts_ImpairmentOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_JfeMember" xlink:label="ts_JfeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetCashPositionMember" xlink:label="ts_NetCashPositionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NkktubesMember" xlink:label="ts_NkktubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NotesToFinancialStatementsAbstract" xlink:label="ts_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NotesToFinancialStatementsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ts_GlobalPandemicMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ts_NetCashPositionMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ts_ImpairmentOfAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_NkktubesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_JfeMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-significant-accounting-policies-policies" xlink:href="ts-20191231.xsd#statement-significant-accounting-policies-policies" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-significant-accounting-policies-policies" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" xlink:label="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" xlink:label="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:label="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-significant-accounting-policies-policies" xlink:label="ts_statement-statement-significant-accounting-policies-policies" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-significant-accounting-policies-policies" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:type="arc"/>
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:type="arc"/>
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:type="arc"/>
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:type="arc"/>
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:type="arc"/>
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:type="arc"/>
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-tables" xlink:href="ts-20191231.xsd#statement-ii-accounting-policies-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-ii-accounting-policies-tables" xlink:label="ts_statement-statement-ii-accounting-policies-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-ii-accounting-policies-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-tables" xlink:href="ts-20191231.xsd#statement-iii-financial-risk-management-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:label="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-iii-financial-risk-management-tables" xlink:label="ts_statement-statement-iii-financial-risk-management-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-iii-financial-risk-management-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tables" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:label="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SegmentRevenuesByMarketExplanatory" xlink:label="ts_SegmentRevenuesByMarketExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubesMember" xlink:label="ts_TubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-1-segment-information-tables" xlink:label="ts_statement-statement-note-1-segment-information-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-1-segment-information-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ts_TubesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SegmentRevenuesByMarketExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-tables" xlink:href="ts-20191231.xsd#statement-note-2-cost-of-sales-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-2-cost-of-sales-tables" xlink:label="ts_statement-statement-note-2-cost-of-sales-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-2-cost-of-sales-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-tables" xlink:href="ts-20191231.xsd#statement-note-3-selling-general-and-administrative-expenses-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-3-selling-general-and-administrative-expenses-tables" xlink:label="ts_statement-statement-note-3-selling-general-and-administrative-expenses-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-3-selling-general-and-administrative-expenses-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:href="ts-20191231.xsd#statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" xlink:label="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:label="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-tables" xlink:href="ts-20191231.xsd#statement-note-5-other-operating-income-and-expenses-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-5-other-operating-income-and-expenses-tables" xlink:label="ts_statement-statement-note-5-other-operating-income-and-expenses-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-5-other-operating-income-and-expenses-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-tables" xlink:href="ts-20191231.xsd#statement-note-6-financial-results-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" xlink:label="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-6-financial-results-tables" xlink:label="ts_statement-statement-note-6-financial-results-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-6-financial-results-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-tables" xlink:href="ts-20191231.xsd#statement-note-7-income-tax-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" xlink:label="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-7-income-tax-tables" xlink:label="ts_statement-statement-note-7-income-tax-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-7-income-tax-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-tables" xlink:href="ts-20191231.xsd#statement-note-9-property-plant-and-equipment-net-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-9-property-plant-and-equipment-net-tables" xlink:label="ts_statement-statement-note-9-property-plant-and-equipment-net-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-9-property-plant-and-equipment-net-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-tables" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:label="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-10-intangible-assets-net-tables" xlink:label="ts_statement-statement-note-10-intangible-assets-net-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-10-intangible-assets-net-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilityEvolutionTextBlock" xlink:label="ts_LeaseLiabilityEvolutionTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsEvolutionTextBlock" xlink:label="ts_RightofuseAssetsEvolutionTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:label="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_RightofuseAssetsEvolutionTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilityEvolutionTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-tables" xlink:href="ts-20191231.xsd#statement-note-13-receivables-non-current-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-13-receivables-non-current-tables" xlink:label="ts_statement-statement-note-13-receivables-non-current-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-13-receivables-non-current-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-tables" xlink:href="ts-20191231.xsd#statement-note-14-inventories-net-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-14-inventories-net-tables" xlink:label="ts_statement-statement-note-14-inventories-net-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-14-inventories-net-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-tables" xlink:href="ts-20191231.xsd#statement-note-15-receivables-and-prepayments-net-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-15-receivables-and-prepayments-net-tables" xlink:label="ts_statement-statement-note-15-receivables-and-prepayments-net-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-15-receivables-and-prepayments-net-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-tables" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-16-current-tax-assets-and-liabilities-tables" xlink:label="ts_statement-statement-note-16-current-tax-assets-and-liabilities-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-16-current-tax-assets-and-liabilities-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-tables" xlink:href="ts-20191231.xsd#statement-note-17-trade-receivables-net-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" xlink:label="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-17-trade-receivables-net-tables" xlink:label="ts_statement-statement-note-17-trade-receivables-net-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-17-trade-receivables-net-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:href="ts-20191231.xsd#statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:label="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:label="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-tables" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfBorrowingsEvolutionTextBlock" xlink:label="ts_DisclosureOfBorrowingsEvolutionTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-tables" xlink:label="ts_statement-statement-note-19-borrowings-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-19-borrowings-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfBorrowingsEvolutionTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-tables" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxTextBlock" xlink:label="ts_DeferredTaxTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:label="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-20-deferred-income-tax-tables" xlink:label="ts_statement-statement-note-20-deferred-income-tax-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-20-deferred-income-tax-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-tables" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:label="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfActuarialAssumptionsTextBlock" xlink:label="ts_DisclosureOfActuarialAssumptionsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-tables" xlink:label="ts_statement-statement-note-21-other-liabilities-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-21-other-liabilities-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfActuarialAssumptionsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:href="ts-20191231.xsd#statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:label="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-tables" xlink:href="ts-20191231.xsd#statement-note-23-current-allowances-and-provisions-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-23-current-allowances-and-provisions-tables" xlink:label="ts_statement-statement-note-23-current-allowances-and-provisions-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-23-current-allowances-and-provisions-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-tables" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" xlink:label="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-24-derivative-financial-instruments-tables" xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-24-derivative-financial-instruments-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-tables" xlink:href="ts-20191231.xsd#statement-note-27-business-combinations-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-27-business-combinations-tables" xlink:label="ts_statement-statement-note-27-business-combinations-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-27-business-combinations-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-tables" xlink:href="ts-20191231.xsd#statement-note-28-cash-flow-disclosures-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" xlink:label="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-28-cash-flow-disclosures-tables" xlink:label="ts_statement-statement-note-28-cash-flow-disclosures-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-28-cash-flow-disclosures-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-tables" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory" xlink:label="ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" xlink:label="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" xlink:label="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-29-discontinued-operations-tables" xlink:label="ts_statement-statement-note-29-discontinued-operations-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-29-discontinued-operations-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-tables" xlink:href="ts-20191231.xsd#statement-note-30-related-party-transactions-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-30-related-party-transactions-tables" xlink:label="ts_statement-statement-note-30-related-party-transactions-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-30-related-party-transactions-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:href="ts-20191231.xsd#statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DisclosureOfAuditorsRemunerationTextBlock" xlink:label="ts_DisclosureOfAuditorsRemunerationTextBlock" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:label="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DisclosureOfAuditorsRemunerationTextBlock" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-tables" xlink:href="ts-20191231.xsd#statement-note-32-principal-subsidiaries-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-32-principal-subsidiaries-tables" xlink:label="ts_statement-statement-note-32-principal-subsidiaries-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-32-principal-subsidiaries-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-tables" xlink:href="ts-20191231.xsd#statement-note-36-update-as-of-april-29-2020-tables" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-tables" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-36-update-as-of-april-29-2020-tables" xlink:label="ts_statement-statement-note-36-update-as-of-april-29-2020-tables" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-36-update-as-of-april-29-2020-tables" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-details-textual" xlink:href="ts-20191231.xsd#statement-ii-accounting-policies-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount" xlink:label="ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:label="ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:label="ifrs-full_NumberOfSharesAuthorised-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="ifrs-full_NumberOfSharesOutstanding-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019" xlink:label="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ResearchAndDevelopmentExpense" xlink:label="ifrs-full_ResearchAndDevelopmentExpense-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsAxis" xlink:label="ifrs-full_TypesOfContractsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfContractsMember" xlink:label="ifrs-full_TypesOfContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Canada1Member" xlink:label="ts_Canada1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CarryingValueOfUnitsGranted" xlink:label="ts_CarryingValueOfUnitsGranted-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabMember" xlink:label="ts_ConfabMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsCompanyRedemptionPeriod" xlink:label="ts_EmployeeBenefitsCompanyRedemptionPeriod-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsEarlyRedemptionPeriod" xlink:label="ts_EmployeeBenefitsEarlyRedemptionPeriod-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsUnitVestingPeriod" xlink:label="ts_EmployeeBenefitsUnitVestingPeriod-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinitelivedIntangibleAssetResidualUsefulLife" xlink:label="ts_FinitelivedIntangibleAssetResidualUsefulLife-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinitelivedIntangibleAssetResidualValue" xlink:label="ts_FinitelivedIntangibleAssetResidualValue-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinitelivedIntangibleAssetUsefulLife" xlink:label="ts_FinitelivedIntangibleAssetUsefulLife-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrillAcquisitionMember" xlink:label="ts_HydrillAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies" xlink:label="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InformationSystemProjectsMember" xlink:label="ts_InformationSystemProjectsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InterestInAssociateSharesOwned" xlink:label="ts_InterestInAssociateSharesOwned-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:label="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickAcquisitionMember" xlink:label="ts_MaverickAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NSSMCMember" xlink:label="ts_NSSMCMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod" xlink:label="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfMajorBusinessSegments" xlink:label="ts_NumberOfMajorBusinessSegments-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfReportableOperatingSegments" xlink:label="ts_NumberOfReportableOperatingSegments-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfSharesSubscribedTo" xlink:label="ts_NumberOfSharesSubscribedTo-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NumberOfVotesPerShare" xlink:label="ts_NumberOfVotesPerShare-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OCTGUSAMember" xlink:label="ts_OCTGUSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PercentOfCompanyVotingCapital" xlink:label="ts_PercentOfCompanyVotingCapital-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PrevidenciaUsiminasMember" xlink:label="ts_PrevidenciaUsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SharesBoundToSHA" xlink:label="ts_SharesBoundToSHA-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SharesSubscribedToPricePerShare" xlink:label="ts_SharesSubscribedToPricePerShare-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SharesSubscribedToValue" xlink:label="ts_SharesSubscribedToValue-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TTGroupMember" xlink:label="ts_TTGroupMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TecpetrolInternationalSAMember" xlink:label="ts_TecpetrolInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisMember" xlink:label="ts_TenarisMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumEntititesMember" xlink:label="ts_TerniumEntititesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TheNewSHAMember" xlink:label="ts_TheNewSHAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TrademarksMember" xlink:label="ts_TrademarksMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:label="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ifrs-full_TypesOfContractsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_PreferenceSharesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_OrdinarySharesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfContractsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ts_TheNewSHAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TTGroupMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TerniumEntititesMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_ConfabMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_NSSMCMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_PrevidenciaUsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_JointVenturesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TecpetrolInternationalSAMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TenarisMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_TopOfRangeMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ts_InformationSystemProjectsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ts_TrademarksMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_MaverickAcquisitionMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_HydrillAcquisitionMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_BottomOfRangeMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ts_OCTGUSAMember" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_IT" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_Canada1Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfVotingPowerHeldInAssociate-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NumberOfSharesSubscribedTo-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SharesSubscribedToPricePerShare-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SharesSubscribedToValue-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_InterestInAssociateSharesOwned-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SharesBoundToSHA-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_PercentOfCompanyVotingCapital-2" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInJointVenture-2" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies-2" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NumberOfMajorBusinessSegments-2" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NumberOfReportableOperatingSegments-2" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_FinitelivedIntangibleAssetUsefulLife-2" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill-2" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ResearchAndDevelopmentExpense-2" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019-2" xlink:type="arc"/>
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets-2" xlink:type="arc"/>
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_FinitelivedIntangibleAssetResidualValue-2" xlink:type="arc"/>
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_FinitelivedIntangibleAssetResidualUsefulLife-2" xlink:type="arc"/>
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse-2" xlink:type="arc"/>
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount-2" xlink:type="arc"/>
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesAuthorised-2" xlink:type="arc"/>
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ParValuePerShare-2" xlink:type="arc"/>
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesIssued-2" xlink:type="arc"/>
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesOutstanding-2" xlink:type="arc"/>
    <link:presentationArc order="25" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NumberOfVotesPerShare-2" xlink:type="arc"/>
    <link:presentationArc order="26" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-2" xlink:type="arc"/>
    <link:presentationArc order="27" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod-2" xlink:type="arc"/>
    <link:presentationArc order="28" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsUnitVestingPeriod-2" xlink:type="arc"/>
    <link:presentationArc order="29" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsCompanyRedemptionPeriod-2" xlink:type="arc"/>
    <link:presentationArc order="30" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsEarlyRedemptionPeriod-2" xlink:type="arc"/>
    <link:presentationArc order="31" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CarryingValueOfUnitsGranted-2" xlink:type="arc"/>
    <link:presentationArc order="32" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-details-textual" xlink:href="ts-20191231.xsd#statement-iii-financial-risk-management-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CreditExposure" xlink:label="ifrs-full_CreditExposure-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialGuaranteeContractsMember" xlink:label="ifrs-full_FinancialGuaranteeContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ifrs-full_ShorttermBorrowings-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:label="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConcentrationRiskPercentage" xlink:label="ts_ConcentrationRiskPercentage-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CounterpartyRiskMember" xlink:label="ts_CounterpartyRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CustomerConcentrationRisk1Member" xlink:label="ts_CustomerConcentrationRisk1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DebtToEquityRatio" xlink:label="ts_DebtToEquityRatio-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue" xlink:label="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsMember" xlink:label="ts_ForeignExchangeDerivativesContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeRiskCurrencyExposure" xlink:label="ts_ForeignExchangeRiskCurrencyExposure-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher" xlink:label="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher-n2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GuaranteesUnderCreditInsuranceMember" xlink:label="ts_GuaranteesUnderCreditInsuranceMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:label="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LiquidFinancialAssetsPercentage" xlink:label="ts_LiquidFinancialAssetsPercentage-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency" xlink:label="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:label="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherGuaranteesMember" xlink:label="ts_OtherGuaranteesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PastDueMember" xlink:label="ts_PastDueMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="currency_AllCurrenciesDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfRisksAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_HedgingInstrumentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeDerivativesContractsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfInterestRatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_FixedInterestRateMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_CustomerConcentrationRisk1Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ts_GuaranteesUnderCreditInsuranceMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ts_LetterOfCreditAndOtherBankGuaranteesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ts_OtherGuaranteesMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_PastDueStatusAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ts_PastDueMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_FinancialGuaranteeContractsMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_CounterpartyRiskMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="srt_CurrencyAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DebtToEquityRatio-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ForeignExchangeRiskCurrencyExposure-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReserveOfExchangeDifferencesOnTranslation-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ShorttermBorrowings-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher-n2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CreditExposure-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ConcentrationRiskPercentage-2" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables-2" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions-2" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LiquidFinancialAssetsPercentage-2" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency-2" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets-2" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue-2" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-2" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-details-textual" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContractLiabilities" xlink:label="ifrs-full_ContractLiabilities-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:label="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GovernmentCustomersMember" xlink:label="ifrs-full_GovernmentCustomersMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentFinancialAssetsAvailableforsale" xlink:label="ifrs-full_NoncurrentFinancialAssetsAvailableforsale-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfEntitysRevenue" xlink:label="ifrs-full_PercentageOfEntitysRevenue-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersAxis" xlink:label="ifrs-full_TypesOfCustomersAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfCustomersMember" xlink:label="ifrs-full_TypesOfCustomersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Argentina1Member" xlink:label="ts_Argentina1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisMember" xlink:label="ts_TenarisMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfCustomersAxis" xlink:to="ifrs-full_TypesOfCustomersMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_LU" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_Argentina1Member" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TenarisMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfCustomersAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfCustomersAxis" xlink:to="ifrs-full_GovernmentCustomersMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossBeforeTax-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentFinancialAssetsAvailableforsale-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PercentageOfEntitysRevenue-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ContractLiabilities-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-details-textual" xlink:href="ts-20191231.xsd#statement-note-6-financial-results-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense" xlink:label="ifrs-full_InterestRevenueExpense-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsCategoryMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InterestRevenueExpense-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-details-textual" xlink:href="ts-20191231.xsd#statement-note-7-income-tax-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes-n2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss" xlink:label="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations" xlink:label="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_AR" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes-n2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution-details-textual" xlink:href="ts-20191231.xsd#statement-note-8-dividends-distribution-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaid" xlink:label="ifrs-full_DividendsPaid-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPaidPerADS" xlink:label="ts_DividendsPaidPerADS-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPayableAmountPerADS" xlink:label="ts_DividendsPayableAmountPerADS-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPayableAmountPerADSIncludingInterimDividend" xlink:label="ts_DividendsPayableAmountPerADSIncludingInterimDividend-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPayableAmountPerShareIncludingInterimDividend" xlink:label="ts_DividendsPayableAmountPerShareIncludingInterimDividend-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPayableAmountPerADS-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsPaid-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPayableAmountPerShareIncludingInterimDividend-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPayableAmountPerADSIncludingInterimDividend-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsPaidOrdinarySharesPerShare-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPaidPerADS-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-details-textual" xlink:href="ts-20191231.xsd#statement-note-9-property-plant-and-equipment-net-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PropertyPlantAndEquipmentCapitalizedInterest" xlink:label="ts_PropertyPlantAndEquipmentCapitalizedInterest-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_PropertyPlantAndEquipmentCapitalizedInterest-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-details-textual" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Europe1Member" xlink:label="ts_Europe1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MiddleEastAndAfricaMember" xlink:label="ts_MiddleEastAndAfricaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NorthAmerica1Member" xlink:label="ts_NorthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SouthAmerica1Member" xlink:label="ts_SouthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_NorthAmerica1Member" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_SouthAmerica1Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_Europe1Member" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_MiddleEastAndAfricaMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Goodwill-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-details-textual" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashOutflowForLeases" xlink:label="ifrs-full_CashOutflowForLeases-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:label="ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:label="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RemainingLeasePaymentsToBeMadePercentage" xlink:label="ts_RemainingLeasePaymentsToBeMadePercentage-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_MaturityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_NotLaterThanOneYearMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanFiveYearsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashOutflowForLeases-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_RemainingLeasePaymentsToBeMadePercentage-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-details-textual" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DebtSecurities" xlink:label="ifrs-full_DebtSecurities-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LoansAndReceivables" xlink:label="ifrs-full_LoansAndReceivables-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ClosingPricePerADS" xlink:label="ts_ClosingPricePerADS-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ClosingPricePerShare" xlink:label="ts_ClosingPricePerShare-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DebtServiceCoverageRatioCoveredPercent" xlink:label="ts_DebtServiceCoverageRatioCoveredPercent-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LettersOfCreditCovered" xlink:label="ts_LettersOfCreditCovered-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties" xlink:label="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:label="ts_ProportionOfCorporateGuaranteeCoveringObligations-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements" xlink:label="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates" xlink:label="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForExposureToTransportationCapacityAgreements" xlink:label="ts_ProvisionForExposureToTransportationCapacityAgreements-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SeveralBanksToRefinanceObligationsMember" xlink:label="ts_SeveralBanksToRefinanceObligationsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TecpetrolInternationalSAMember" xlink:label="ts_TecpetrolInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumAndUsiminasMember" xlink:label="ts_TerniumAndUsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay" xlink:label="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TerniumAndUsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_OrdinarySharesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_PreferenceSharesMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ts_TecpetrolInternationalSAMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ts_SeveralBanksToRefinanceObligationsMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfVotingPowerHeldInAssociate-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ClosingPricePerADS-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ClosingPricePerShare-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay-2" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ProvisionForExposureToTransportationCapacityAgreements-2" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements-2" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates-2" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties-2" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LoansAndReceivables-2" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DebtSecurities-2" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ProportionOfCorporateGuaranteeCoveringObligations-2" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DebtServiceCoverageRatioCoveredPercent-2" xlink:type="arc"/>
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LettersOfCreditCovered-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-details-textual" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:label="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries" xlink:label="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage" xlink:label="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage" xlink:label="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RecognizedTaxLossesExpiringWithinOneYearPercentage" xlink:label="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears" xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear" xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears" xlink:label="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears-2" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_RecognizedTaxLossesExpiringWithinOneYearPercentage-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-details-textual" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsAxis" xlink:label="ifrs-full_ActuarialAssumptionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset-n2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset-n2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan" xlink:label="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption-n2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OverfundedPlan" xlink:label="ts_OverfundedPlan-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedPostemploymentBenefitsMember" xlink:label="ts_UnfundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_UnfundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ActuarialAssumptionsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset-n2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset-n2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption-n2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OverfundedPlan-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedPostemploymentBenefitsMember" xlink:label="ts_UnfundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:label="ts_statement-statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-21-other-liabilities-actuarial-assumptions-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_BottomOfRangeMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_UnfundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_TopOfRangeMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-details-textual" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits-details-textual" xlink:href="ts-20191231.xsd#statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContingentLiabilitiesMember" xlink:label="ifrs-full_ContingentLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:label="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxContingentLiabilityMember" xlink:label="ifrs-full_TaxContingentLiabilityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="srt_CounterpartyNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AirLiquideMexicoSDeRLDeCVMember" xlink:label="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CanadianNationalRailwayMember" xlink:label="ts_CanadianNationalRailwayMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ChubbMember" xlink:label="ts_ChubbMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CompanhiaSiderrgicaNacionalMember" xlink:label="ts_CompanhiaSiderrgicaNacionalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabMember" xlink:label="ts_ConfabMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DalmineSPAMember" xlink:label="ts_DalmineSPAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FineImposedPercentageOfAllegedlyUndueCredits" xlink:label="ts_FineImposedPercentageOfAllegedlyUndueCredits-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GraftechMember" xlink:label="ts_GraftechMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually" xlink:label="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NucorSteelMemphisIncMember" xlink:label="ts_NucorSteelMemphisIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PaymentsForSettlement" xlink:label="ts_PaymentsForSettlement-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PercentOfAnnualIronOreNeedsSupplied" xlink:label="ts_PercentOfAnnualIronOreNeedsSupplied-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PerformanceGuaranteesIssued" xlink:label="ts_PerformanceGuaranteesIssued-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PraxairSAMember" xlink:label="ts_PraxairSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProportionOfCorporateGuaranteeCoveringObligations" xlink:label="ts_ProportionOfCorporateGuaranteeCoveringObligations-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PurchaseCommitments" xlink:label="ts_PurchaseCommitments-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SettlementAmountOrderedToPay" xlink:label="ts_SettlementAmountOrderedToPay-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SettlementAmountOrderedToPayDamages" xlink:label="ts_SettlementAmountOrderedToPayDamages-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SettlementAmountOrderedToPayInsuranceDeductible" xlink:label="ts_SettlementAmountOrderedToPayInsuranceDeductible-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterests" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterests-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterestsPercentage" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TagalongTenderOfferToNoncontrollingInterestsShares" xlink:label="ts_TagalongTenderOfferToNoncontrollingInterestsShares-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:label="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechgenSAMember" xlink:label="ts_TechgenSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TermOfSupplyContract" xlink:label="ts_TermOfSupplyContract-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransportadoraDeGasDelNorteSaMember" xlink:label="ts_TransportadoraDeGasDelNorteSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TribunalDeContasDaUniaoMember" xlink:label="ts_TribunalDeContasDaUniaoMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ValeInternationalSAMember" xlink:label="ts_ValeInternationalSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VeracelCeluloseSaMember" xlink:label="ts_VeracelCeluloseSaMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_ContingentLiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CounterpartyNameAxis" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_CompanhiaSiderrgicaNacionalMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_ConfabMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="srt_CounterpartyNameAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CounterpartyNameAxis" xlink:to="ts_ChubbMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CounterpartyNameAxis" xlink:to="ts_VeracelCeluloseSaMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_TribunalDeContasDaUniaoMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_TaxContingentLiabilityMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_BR" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_DalmineSPAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_IT" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015Member" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_TransportadoraDeGasDelNorteSaMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_PraxairSAMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_GraftechMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TechgenSAMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_ValeInternationalSAMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_CanadianNationalRailwayMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_AirLiquideMexicoSDeRLDeCVMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_NucorSteelMemphisIncMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterestsPercentage-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterests-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterestsShares-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_PaymentsForSettlement-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SettlementAmountOrderedToPay-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SettlementAmountOrderedToPayInsuranceDeductible-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SettlementAmountOrderedToPayDamages-2" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate-2" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities-2" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_FineImposedPercentageOfAllegedlyUndueCredits-2" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TermOfSupplyContract-2" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_PurchaseCommitments-2" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ProportionOfCorporateGuaranteeCoveringObligations-2" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_PercentOfAnnualIronOreNeedsSupplied-2" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually-2" xlink:type="arc"/>
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_PerformanceGuaranteesIssued-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia-details-textual" xlink:href="ts-20191231.xsd#statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInJointVentures" xlink:label="ifrs-full_InvestmentsInJointVentures-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xlink:label="ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManufacturingCapacitySteelPipes" xlink:label="ts_ManufacturingCapacitySteelPipes-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PAOPSeverstalMember" xlink:label="ts_PAOPSeverstalMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WeldedPipePlantInWestSiberiaMember" xlink:label="ts_WeldedPipePlantInWestSiberiaMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_JointVenturesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ts_WeldedPipePlantInWestSiberiaMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="ts_PAOPSeverstalMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInJointVenture-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInJointVentures-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ManufacturingCapacitySteelPipes-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-details-textual" xlink:href="ts-20191231.xsd#statement-note-27-business-combinations-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueOfAcquiree" xlink:label="ifrs-full_RevenueOfAcquiree-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GarrettMember" xlink:label="ts_GarrettMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManufacturingCapacitySteelPipes" xlink:label="ts_ManufacturingCapacitySteelPipes-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TotalAssetsAndLiabilitiesAcquired" xlink:label="ts_TotalAssetsAndLiabilitiesAcquired-2" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_GarrettMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashTransferred-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ManufacturingCapacitySteelPipes-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TotalAssetsAndLiabilitiesAcquired-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RevenueOfAcquiree-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-details-textual" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-details-textual" xlink:href="ts-20191231.xsd#statement-note-30-related-party-transactions-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SanFaustinSaMember" xlink:label="ts_SanFaustinSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnitsIssuedRelatedPartyTransactions" xlink:label="ts_UnitsIssuedRelatedPartyTransactions-2" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ts_SanFaustinSaMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfSharesIssued-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_UnitsIssuedRelatedPartyTransactions-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-details-textual" xlink:href="ts-20191231.xsd#statement-note-32-principal-subsidiaries-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmajaTubularServicesLimitedMember" xlink:label="ts_AmajaTubularServicesLimitedMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilCompanyAndSubsidiariesMember" xlink:label="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:label="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisSupplyChainSAMember" xlink:label="ts_TenarisSupplyChainSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularServicesAngolaLdaMember" xlink:label="ts_TubularServicesAngolaLdaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:label="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TechnicalDrillingProductionServicesNigeriaLtdMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisSupplyChainSAMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TubularTechnicalServicesAndPipeCoatersMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_AmajaTubularServicesLimitedMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TubularServicesAngolaLdaMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries-details-textual" xlink:href="ts-20191231.xsd#statement-note-33-nationalization-of-venezuelan-subsidiaries-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_VE" xlink:label="country_VE" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestReceivable" xlink:label="ifrs-full_InterestReceivable-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivables" xlink:label="ifrs-full_NoncurrentReceivables-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MatesiMaterialesSiderrgicosSaMember" xlink:label="ts_MatesiMaterialesSiderrgicosSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate" xlink:label="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest" xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest" xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest" xlink:label="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesPostawardInterestRate" xlink:label="ts_NationalizationOfSubsidiariesPostawardInterestRate-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesPreawardInterest" xlink:label="ts_NationalizationOfSubsidiariesPreawardInterest-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NationalizationOfSubsidiariesReimbursementOfLegalFees" xlink:label="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TavsaAndComsiguaMember" xlink:label="ts_TavsaAndComsiguaMember" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_MatesiMaterialesSiderrgicosSaMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="country_VE" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TavsaAndComsiguaMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesPreawardInterest-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesPostawardInterestRate-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesReimbursementOfLegalFees-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InterestReceivable-2" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentReceivables-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events-details-textual" xlink:href="ts-20191231.xsd#statement-note-35-subsequent-events-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MasterDistributionAgreementTerm" xlink:label="ts_MasterDistributionAgreementTerm-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MasterDistributionAgreementTermAvailableExtension" xlink:label="ts_MasterDistributionAgreementTermAvailableExtension-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashTransferred-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_MasterDistributionAgreementTerm-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_MasterDistributionAgreementTermAvailableExtension-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-details-textual" xlink:href="ts-20191231.xsd#statement-note-36-update-as-of-april-29-2020-details-textual" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-details-textual" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Cash" xlink:label="ifrs-full_Cash-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaid" xlink:label="ifrs-full_DividendsPaid-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:label="ifrs-full_GeneralAndAdministrativeExpense-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ImpairmentLoss" xlink:label="ifrs-full_ImpairmentLoss-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts" xlink:label="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GlobalPandemicMember" xlink:label="ts_GlobalPandemicMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ImpairmentOfAssetsMember" xlink:label="ts_ImpairmentOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_JfeMember" xlink:label="ts_JfeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetCashPositionMember" xlink:label="ts_NetCashPositionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NkktubesMember" xlink:label="ts_NkktubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoteToFinancialStatementDetailsTextual" xlink:label="ts_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses" xlink:label="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_NoteToFinancialStatementDetailsTextual" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ts_GlobalPandemicMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ts_NetCashPositionMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ts_ImpairmentOfAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_NkktubesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CounterpartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ts_JfeMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DividendsPaid-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Cash-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashTransferred-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GeneralAndAdministrativeExpense-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ImpairmentLoss-2" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:href="ts-20191231.xsd#statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscountRateMeasurementInputMember" xlink:label="ifrs-full_DiscountRateMeasurementInputMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnobservableInputsAxis" xlink:label="ifrs-full_UnobservableInputsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UnobservableInputsMember" xlink:label="ifrs-full_UnobservableInputsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" xlink:label="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrowthRateMeasurementInputMember" xlink:label="ts_GrowthRateMeasurementInputMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" xlink:label="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:label="ts_statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_UnobservableInputsAxis" xlink:to="ifrs-full_UnobservableInputsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_UnobservableInputsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_UnobservableInputsAxis" xlink:to="ifrs-full_DiscountRateMeasurementInputMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_UnobservableInputsAxis" xlink:to="ts_GrowthRateMeasurementInputMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_UnobservableInputsAxis" xlink:to="ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance" xlink:label="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:label="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetAssetsSoldInDisposalCarryingAmount" xlink:label="ts_NetAssetsSoldInDisposalCarryingAmount-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations" xlink:label="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:label="ts_statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations-n8" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NetAssetsSoldInDisposalCarryingAmount-n8" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance-n8" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationRightofuseAssets" xlink:label="ifrs-full_DepreciationRightofuseAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RightofuseAssets" xlink:label="ifrs-full_RightofuseAssets-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:label="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LandAndCivilBuildingsMember" xlink:label="ts_LandAndCivilBuildingsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciation" xlink:label="ts_RightofuseAssetsAccumulatedDepreciation-4" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciation" xlink:label="ts_RightofuseAssetsAccumulatedDepreciation-5" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions" xlink:label="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications" xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences" xlink:label="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCost" xlink:label="ts_RightofuseAssetsCost-4" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCost" xlink:label="ts_RightofuseAssetsCost-5" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostAbstract" xlink:label="ts_RightofuseAssetsCostAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostAdditions" xlink:label="ts_RightofuseAssetsCostAdditions-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostCurrencyTranslationAdjustments" xlink:label="ts_RightofuseAssetsCostCurrencyTranslationAdjustments-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostDisposals" xlink:label="ts_RightofuseAssetsCostDisposals-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations" xlink:label="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsCostTransfers" xlink:label="ts_RightofuseAssetsCostTransfers-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RightofuseAssetsDepreciationAbstract" xlink:label="ts_RightofuseAssetsDepreciationAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VehiclesFurnitureAndFixturesMember" xlink:label="ts_VehiclesFurnitureAndFixturesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:label="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfAssetsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_LandAndCivilBuildingsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_VehiclesFurnitureAndFixturesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_RightofuseAssetsCostAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCost-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostCurrencyTranslationAdjustments-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostAdditions-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostDisposals-n8" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCostTransfers-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsCostAbstract" xlink:to="ts_RightofuseAssetsCost-5" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_RightofuseAssetsDepreciationAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsAccumulatedDepreciation-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ifrs-full_DepreciationRightofuseAssets-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions-n8" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ts_RightofuseAssetsAccumulatedDepreciation-5" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_RightofuseAssetsDepreciationAbstract" xlink:to="ifrs-full_RightofuseAssets-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:href="ts-20191231.xsd#statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BuildingsAndImprovementsMember" xlink:label="ts_BuildingsAndImprovementsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PlantAndProductionEquipmentMember" xlink:label="ts_PlantAndProductionEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsefulLivesPropertyPlantAndEquipment" xlink:label="ts_UsefulLivesPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" xlink:label="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:label="ts_statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ts_BuildingsAndImprovementsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_BottomOfRangeMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_TopOfRangeMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ts_PlantAndProductionEquipmentMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_UsefulLivesPropertyPlantAndEquipment" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-reportable-operating-segments-details" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-reportable-operating-segments-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-reportable-operating-segments-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllOtherSegmentsMember" xlink:label="ifrs-full_AllOtherSegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscontinuedOperationsMember" xlink:label="ifrs-full_DiscontinuedOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncomeCost" xlink:label="ifrs-full_FinanceIncomeCost-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReportableSegmentsMember" xlink:label="ifrs-full_ReportableSegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod-7" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInCostOfSales" xlink:label="ts_ManagementViewDifferencesInCostOfSales-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInDepreciationAndAmortization" xlink:label="ts_ManagementViewDifferencesInDepreciationAndAmortization-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet" xlink:label="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses" xlink:label="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ManagementViewOperatingIncome" xlink:label="ts_ManagementViewOperatingIncome-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubesMember" xlink:label="ts_TubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-1-segment-information-reportable-operating-segments-details" xlink:label="ts_statement-statement-note-1-segment-information-reportable-operating-segments-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-1-segment-information-reportable-operating-segments-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingOperationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ts_TubesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_AllOtherSegmentsMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_ReportableSegmentsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_DiscontinuedOperationsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewOperatingIncome-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewDifferencesInCostOfSales-1" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewDifferencesInDepreciationAndAmortization-1" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses-1" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet-1" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossFromOperatingActivities-1" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinanceIncomeCost-1" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax-1" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2009/role/netLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod-7" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossBeforeTax-1" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-1" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DepreciationAndAmortisationExpense-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductsAndServicesAxis" xlink:label="ifrs-full_ProductsAndServicesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductsAndServicesMember" xlink:label="ifrs-full_ProductsAndServicesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrocarbonProcessingAndPowerGenerationMember" xlink:label="ts_HydrocarbonProcessingAndPowerGenerationMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IndustrialAndOtherMember" xlink:label="ts_IndustrialAndOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OilAndGasMember" xlink:label="ts_OilAndGasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubesMember" xlink:label="ts_TubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:label="ts_statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-1-segment-information-tubes-segment-revenues-by-market-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ifrs-full_ProductsAndServicesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ts_TubesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ProductsAndServicesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ts_OilAndGasMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ts_HydrocarbonProcessingAndPowerGenerationMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ts_IndustrialAndOtherMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:href="ts-20191231.xsd#statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CA" xlink:label="country_CA" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CO" xlink:label="country_CO" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_ID" xlink:label="country_ID" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_JP" xlink:label="country_JP" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_MX" xlink:label="country_MX" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_RO" xlink:label="country_RO" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NumberOfEmployees" xlink:label="ifrs-full_NumberOfEmployees-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherGeographicalAreasMember" xlink:label="ts_OtherGeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:label="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_AR" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_MX" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_IT" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_RO" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_BR" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_CO" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_CA" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_ID" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_JP" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_OtherGeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NumberOfEmployees-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="ifrs-full_BorrowingsInterestRate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WeightedAverageMember" xlink:label="ifrs-full_WeightedAverageMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:label="ts_statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RangeAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_WeightedAverageMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_BorrowingsInterestRate" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTabLiabilitiesMember" xlink:label="ts_DeferredTabLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:label="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsInventoryMember" xlink:label="ts_DeferredTaxAssetsInventoryMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsMember" xlink:label="ts_DeferredTaxAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsOtherMember" xlink:label="ts_DeferredTaxAssetsOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsProvisionsAndAllowancesMember" xlink:label="ts_DeferredTaxAssetsProvisionsAndAllowancesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxAssetsTaxLossMember" xlink:label="ts_DeferredTaxAssetsTaxLossMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilitiesFixedAssetsMember" xlink:label="ts_DeferredTaxLiabilitiesFixedAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" xlink:label="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilitiesInventoryMember" xlink:label="ts_DeferredTaxLiabilitiesInventoryMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:label="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:label="ts_statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ifrs-full_LiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ts_DeferredTaxLiabilitiesFixedAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ts_DeferredTaxLiabilitiesInventoryMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ts_DeferredTabLiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfAssetsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_DeferredTaxAssetsProvisionsAndAllowancesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_DeferredTaxAssetsInventoryMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_DeferredTaxAssetsTaxLossMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_DeferredTaxAssetsOtherMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_DeferredTaxAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilityAsset-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset-1" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilityAsset-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MiscellaneousOtherProvisionsMember" xlink:label="ifrs-full_MiscellaneousOtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProvisionUsedOtherProvisions" xlink:label="ifrs-full_ProvisionUsedOtherProvisions-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AdditionalProvisionsOtherProvisionsReversals" xlink:label="ts_AdditionalProvisionsOtherProvisionsReversals-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionsForCurrentLiabilitiesMember" xlink:label="ts_ProvisionsForCurrentLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SalesRisksMember" xlink:label="ts_SalesRisksMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:label="ts_statement-statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-23-current-allowances-and-provisions-liabilities-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ts_SalesRisksMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_MiscellaneousOtherProvisionsMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ts_ProvisionsForCurrentLiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_AdditionalProvisionsOtherProvisionsReversals-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProvisionUsedOtherProvisions-n8" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowHedgesMember" xlink:label="ifrs-full_CashFlowHedgesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:label="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesAxis" xlink:label="ifrs-full_TypesOfHedgesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="ifrs-full_TypesOfHedgesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsMember" xlink:label="ts_ForeignExchangeDerivativesContractsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_HedgingInstrumentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeDerivativesContractsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfHedgesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_CashFlowHedgesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:href="ts-20191231.xsd#statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MajorBusinessCombinationMember" xlink:label="ifrs-full_MajorBusinessCombinationMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AcquisitionOfIPSCOMember" xlink:label="ts_AcquisitionOfIPSCOMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionsRecognisedAsOfAcquisitionDate" xlink:label="ts_ProvisionsRecognisedAsOfAcquisitionDate-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:label="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:label="ts_statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_AcquisitionOfIPSCOMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_MajorBusinessCombinationMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate-n8" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ProvisionsRecognisedAsOfAcquisitionDate-n8" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate-n8" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate-n8" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement--consolidated-income-statement" xlink:href="ts-20191231.xsd#statement--consolidated-income-statement" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement--consolidated-income-statement" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShare-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations" xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="ifrs-full_EarningsPerShareAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeStatementAbstract" xlink:label="ifrs-full_IncomeStatementAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherFinanceIncomeCost" xlink:label="ifrs-full_OtherFinanceIncomeCost" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ifrs-full_ProfitLossAttributableToAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromContinuingOperations" xlink:label="ifrs-full_ProfitLossFromContinuingOperations-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WeightedAverageShares" xlink:label="ifrs-full_WeightedAverageShares-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BasicAndDilutedEarningsLossesPerAds" xlink:label="ts_BasicAndDilutedEarningsLossesPerAds-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" xlink:label="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:label="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ContinuingOperationsAbstract" xlink:label="ts_ContinuingOperationsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DiscontinuedOperationsAbstract" xlink:label="ts_DiscontinuedOperationsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax" xlink:label="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ContinuingOperationsAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_CostOfSales-n8" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_GrossProfit-3" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense-n9" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_OtherIncome" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_OtherExpenseByFunction-n8" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_ProfitLossFromOperatingActivities-3" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_FinanceIncome" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_FinanceCosts-n8" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_OtherFinanceIncomeCost" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax-3" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_ProfitLossBeforeTax-3" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations-n9" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_ProfitLossFromContinuingOperations-3" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DiscontinuedOperationsAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DiscontinuedOperationsAbstract" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_DiscontinuedOperationsAbstract" xlink:to="ifrs-full_ProfitLoss-3" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossAttributableToAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLoss-1" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EarningsPerShareAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_EarningsPerShareAbstract" xlink:to="ifrs-full_WeightedAverageShares-1" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations" xlink:type="arc"/>
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingOperationsAbstract" xlink:to="ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:to="ifrs-full_BasicAndDilutedEarningsLossPerShare-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_ContinuingAndDiscontinuedOperationsAbstract" xlink:to="ts_BasicAndDilutedEarningsLossesPerAds-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-cash-flows" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-cash-flows" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-cash-flows" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="ifrs-full_AdjustmentsForProvisions-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates" xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:label="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidClassifiedAsFinancingActivities-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense" xlink:label="ifrs-full_InterestRevenueExpense-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherAdjustmentsForNoncashItems" xlink:label="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfInterestsInAssociates" xlink:label="ifrs-full_PurchaseOfInterestsInAssociates-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="ifrs-full_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:label="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MovementInCashAndCashEquivalentsAbstract" xlink:label="ts_MovementInCashAndCashEquivalentsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_StatementOfCashFlowsAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_ProfitLoss" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates-n8" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_InterestRevenueExpense-n9" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForProvisions-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_IncreaseDecreaseInWorkingCapital-n8" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities-3" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-n8" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities-n8" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-n8" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_PurchaseOfInterestsInAssociates-n8" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties-n8" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities-3" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_DividendsPaidClassifiedAsFinancingActivities-n8" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities-n8" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities-n8" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities-n8" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities-3" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges-3" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_MovementInCashAndCashEquivalentsAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents-n8" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-5" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_MovementInCashAndCashEquivalentsAbstract" xlink:to="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-n8" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:href="ts-20191231.xsd#statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssetsAbstract" xlink:label="ifrs-full_AssetsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="ifrs-full_DerivativeFinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialLiabilities" xlink:label="ifrs-full_DerivativeFinancialLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativesMember" xlink:label="ifrs-full_DerivativesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssets" xlink:label="ifrs-full_FinancialAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialLiabilities" xlink:label="ifrs-full_FinancialLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LeaseLiabilities" xlink:label="ifrs-full_LeaseLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesAbstract" xlink:label="ifrs-full_LiabilitiesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherReceivables" xlink:label="ifrs-full_OtherReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="ifrs-full_TradeAndOtherCurrentPayables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BondsAndOtherFixedIncomeMember" xlink:label="ts_BondsAndOtherFixedIncomeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CertificatesOfDepositsMember" xlink:label="ts_CertificatesOfDepositsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CommercialPapersMember" xlink:label="ts_CommercialPapersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CorporatesSecuritiesMember" xlink:label="ts_CorporatesSecuritiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativeLiabilitiesMember" xlink:label="ts_DerivativeLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:label="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NonUsGovernmentSecuritiesMember" xlink:label="ts_NonUsGovernmentSecuritiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestments1Member" xlink:label="ts_OtherInvestments1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNotesMember" xlink:label="ts_OtherNotesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesMember" xlink:label="ts_OtherReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesNonfinancialMember" xlink:label="ts_OtherReceivablesNonfinancialMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StructuredNotesMember" xlink:label="ts_StructuredNotesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsGovernmentSecuritiesMember" xlink:label="ts_UsGovernmentSecuritiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:label="ts_statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsCategoryMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ifrs-full_LiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_CertificatesOfDepositsMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_CommercialPapersMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_OtherNotesMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_BondsAndOtherFixedIncomeMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_UsGovernmentSecuritiesMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_NonUsGovernmentSecuritiesMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_CorporatesSecuritiesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfAssetsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_DerivativesMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_StructuredNotesMember" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_OtherInvestments1Member" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_OtherReceivablesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_OtherReceivablesNonfinancialMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ts_DerivativeLiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AssetsAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_CashAndCashEquivalents" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_CurrentInvestments" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_DerivativeFinancialAssets" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_CurrentTradeReceivables-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_OtherReceivables" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_FinancialAssets" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilitiesAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_Borrowings" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_TradeAndOtherCurrentPayables" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_LeaseLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_DerivativeFinancialLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_FinancialLiabilities-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:href="ts-20191231.xsd#statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BalancesWithBanks" xlink:label="ifrs-full_BalancesWithBanks" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BondsAndOtherFixedIncomeMember" xlink:label="ts_BondsAndOtherFixedIncomeMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:label="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestments1Member" xlink:label="ts_OtherInvestments1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestmentsCurrentAbstract" xlink:label="ts_OtherInvestmentsCurrentAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherInvestmentsNoncurrentAbstract" xlink:label="ts_OtherInvestmentsNoncurrentAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:label="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_FinancialAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_BondsAndOtherFixedIncomeMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ts_OtherInvestments1Member" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalentsAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_BalancesWithBanks" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_CashAndCashEquivalents-3" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherInvestmentsCurrentAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherInvestmentsCurrentAbstract" xlink:to="ifrs-full_CurrentInvestments" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherInvestmentsNoncurrentAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherInvestmentsNoncurrentAbstract" xlink:to="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-comprehensive-income" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-comprehensive-income" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-comprehensive-income" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ComprehensiveIncomeFromContinuingOperations" xlink:label="ts_ComprehensiveIncomeFromContinuingOperations-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ComprehensiveIncomeFromDiscontinuedOperations" xlink:label="ts_ComprehensiveIncomeFromDiscontinuedOperations-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:label="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLoss" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss-n8" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies-n8" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax-3" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss-n8" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax-3" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_OtherComprehensiveIncome-3" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComprehensiveIncome-3" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-1" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncome-1" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:to="ts_ComprehensiveIncomeFromContinuingOperations-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:to="ts_ComprehensiveIncomeFromDiscontinuedOperations-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-changes-in-equity" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ifrs-full_ComponentsOfEquityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityMember" xlink:label="ifrs-full_EquityMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IssuedCapitalMember" xlink:label="ifrs-full_IssuedCapitalMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="ifrs-full_NoncontrollingInterestsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherReservesMember" xlink:label="ifrs-full_OtherReservesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PreviouslyStatedMember" xlink:label="ifrs-full_PreviouslyStatedMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RestatedMember" xlink:label="ifrs-full_RestatedMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RetainedEarningsMember" xlink:label="ifrs-full_RetainedEarningsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:label="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SharePremiumMember" xlink:label="ifrs-full_SharePremiumMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrencyTranslationAdjustmentMember" xlink:label="ts_CurrencyTranslationAdjustmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsPaidIncludingNoncontrollingInterest" xlink:label="ts_DividendsPaidIncludingNoncontrollingInterest-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfChangesInAccountingPolicy" xlink:label="ts_EffectOfChangesInAccountingPolicy-4" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EquityAdjustedBalance" xlink:label="ts_EquityAdjustedBalance-4" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LegalReservesMember" xlink:label="ts_LegalReservesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_StatementOfChangesInEquityAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:to="ifrs-full_PreviouslyStatedMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ComponentsOfEquityAxis" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_IssuedCapitalMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ts_LegalReservesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_SharePremiumMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ts_CurrencyTranslationAdjustmentMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_OtherReservesMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_RetainedEarningsMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_NoncontrollingInterestsMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_EquityMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:to="ifrs-full_RestatedMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Equity-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLoss" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherComprehensiveIncome" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComprehensiveIncome" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsPaidIncludingNoncontrollingInterest-n8" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Equity-5" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfChangesInAccountingPolicy-4" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EquityAdjustedBalance-4" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:href="ts-20191231.xsd#statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ArgentinePesoUsDollarForeignExchangeRiskMember" xlink:label="ts_ArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EuroUsDollarForeignExchangeRiskMember" xlink:label="ts_EuroUsDollarForeignExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeRiskCurrencyExposure" xlink:label="ts_ForeignExchangeRiskCurrencyExposure" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiArabianRiyalUsDollarExchangeRiskMember" xlink:label="ts_SaudiArabianRiyalUsDollarExchangeRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:label="ts_statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfRisksAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_ArgentinePesoUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_EuroUsDollarForeignExchangeRiskMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ts_SaudiArabianRiyalUsDollarExchangeRiskMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ForeignExchangeRiskCurrencyExposure" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-geographical-information-details" xlink:href="ts-20191231.xsd#statement-note-1-segment-information-geographical-information-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-1-segment-information-geographical-information-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscontinuedOperationsMember" xlink:label="ifrs-full_DiscontinuedOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AsiaPacific1Member" xlink:label="ts_AsiaPacific1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ContinuingOperations1Member" xlink:label="ts_ContinuingOperations1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Europe1Member" xlink:label="ts_Europe1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MiddleEastAndAfricaMember" xlink:label="ts_MiddleEastAndAfricaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NorthAmerica1Member" xlink:label="ts_NorthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SouthAmerica1Member" xlink:label="ts_SouthAmerica1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnallocatedRegionMember" xlink:label="ts_UnallocatedRegionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-1-segment-information-geographical-information-details" xlink:label="ts_statement-statement-note-1-segment-information-geographical-information-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-1-segment-information-geographical-information-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingOperationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_NorthAmerica1Member" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_SouthAmerica1Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_Europe1Member" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_MiddleEastAndAfricaMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_AsiaPacific1Member" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_UnallocatedRegionMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_DiscontinuedOperationsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ts_ContinuingOperations1Member" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Assets" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipment" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DepreciationAndAmortisationExpense" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:href="ts-20191231.xsd#statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LeaseLiabilities" xlink:label="ifrs-full_LeaseLiabilities-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LeaseLiabilities" xlink:label="ifrs-full_LeaseLiabilities-5" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesAdditions" xlink:label="ts_LeaseLiabilitiesAdditions-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesCancellations" xlink:label="ts_LeaseLiabilitiesCancellations-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations" xlink:label="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesInterestAccrued" xlink:label="ts_LeaseLiabilitiesInterestAccrued-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesRepayments" xlink:label="ts_LeaseLiabilitiesRepayments-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LeaseLiabilitiesTranslationDifferences" xlink:label="ts_LeaseLiabilitiesTranslationDifferences-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:label="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LeaseLiabilities-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesTranslationDifferences-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesAdditions-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesCancellations-n8" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesRepayments-n8" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_LeaseLiabilitiesInterestAccrued-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LeaseLiabilities-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-5" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DividendsDeclaredByNonconsolidatedCompanies" xlink:label="ts_DividendsDeclaredByNonconsolidatedCompanies-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies" xlink:label="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations" xlink:label="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies" xlink:label="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies-n9" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" xlink:label="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies-n9" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DividendsDeclaredByNonconsolidatedCompanies-n8" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentAssets" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentAssets" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Assets" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentLiabilities" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentLiabilities" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Liabilities" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncontrollingInterests" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue-1" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GrossProfit" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:href="ts-20191231.xsd#statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentPrepayments" xlink:label="ifrs-full_NoncurrentPrepayments-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_NoncurrentReceivablesDueFromRelatedParties-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentReceivables" xlink:label="ifrs-full_OtherNoncurrentReceivables-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances" xlink:label="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentReceivablesEmployeeAdvancesAndLoans" xlink:label="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:label="ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts" xlink:label="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:label="ts_statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-13-receivables-non-current-components-of-receivables-non-current-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentReceivablesEmployeeAdvancesAndLoans-1" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentReceivablesDueFromRelatedParties-1" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentPrepayments-1" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances-1" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesFromInterestInVenezuelanCompanies" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherNoncurrentReceivables-1" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-components-of-inventories-details" xlink:href="ts-20191231.xsd#statement-note-14-inventories-net-components-of-inventories-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-components-of-inventories-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInventoriesInTransit" xlink:label="ifrs-full_CurrentInventoriesInTransit" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinishedGoods" xlink:label="ifrs-full_FinishedGoods" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProductionSupplies" xlink:label="ifrs-full_ProductionSupplies" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RawMaterials" xlink:label="ifrs-full_RawMaterials" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_WorkInProgress" xlink:label="ifrs-full_WorkInProgress" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesAllowanceForObsolescence" xlink:label="ts_InventoriesAllowanceForObsolescence-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesGross" xlink:label="ts_InventoriesGross-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-14-inventories-net-components-of-inventories-details" xlink:label="ts_statement-statement-note-14-inventories-net-components-of-inventories-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-14-inventories-net-components-of-inventories-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinishedGoods" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_WorkInProgress" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RawMaterials" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProductionSupplies" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentInventoriesInTransit" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_InventoriesGross-3" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_InventoriesAllowanceForObsolescence-n8" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Inventories-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:href="ts-20191231.xsd#statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForOtherDoubtfulAccounts" xlink:label="ts_AllowanceForOtherDoubtfulAccounts-n9" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances" xlink:label="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans" xlink:label="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGovernmentEntities" xlink:label="ts_ReceivablesAndPrepaymentsGovernmentEntities-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports" xlink:label="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsGross" xlink:label="ts_ReceivablesAndPrepaymentsGross-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsMiscellaneous" xlink:label="ts_ReceivablesAndPrepaymentsMiscellaneous-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables" xlink:label="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties" xlink:label="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:label="ts_statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsGovernmentEntities-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsMiscellaneous-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ReceivablesAndPrepaymentsGross-3" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_AllowanceForOtherDoubtfulAccounts-n9" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentValueAddedTaxReceivables" xlink:label="ifrs-full_CurrentValueAddedTaxReceivables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentPrepaidTaxes" xlink:label="ts_CurrentPrepaidTaxes" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:label="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentValueAddedTaxReceivables" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentPrepaidTaxes" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxAssetsCurrent-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentValueAddedTaxPayables" xlink:label="ifrs-full_CurrentValueAddedTaxPayables" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentIncomeTaxLiabilities" xlink:label="ts_CurrentIncomeTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentOtherTaxLiabilities" xlink:label="ts_CurrentOtherTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:label="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentIncomeTaxLiabilities" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentValueAddedTaxPayables" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentOtherTaxLiabilities" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:href="ts-20191231.xsd#statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts" xlink:label="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesCurrentAccounts" xlink:label="ts_CurrentTradeReceivablesCurrentAccounts" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGross" xlink:label="ts_CurrentTradeReceivablesGross" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:label="ts_statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesCurrentAccounts" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesGross" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts-n8" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-maturity-of-borrowings-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-maturity-of-borrowings-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-maturity-of-borrowings-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestPayable" xlink:label="ifrs-full_InterestPayable" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BorrowingsIncludingInterestToBeAccrued" xlink:label="ts_BorrowingsIncludingInterestToBeAccrued-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceLeaseLiabilitiesMember" xlink:label="ts_FinanceLeaseLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:label="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherBorrowingsMember" xlink:label="ts_OtherBorrowingsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-maturity-of-borrowings-details" xlink:label="ts_statement-statement-note-19-borrowings-maturity-of-borrowings-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-19-borrowings-maturity-of-borrowings-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ts_OtherBorrowingsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_MaturityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_NotLaterThanOneYearMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ts_FinanceLeaseLiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanFiveYearsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InterestPayable" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_BorrowingsIncludingInterestToBeAccrued-3" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SidercaSaicAndSubsidiariesMember" xlink:label="ts_SidercaSaicAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SignificantBorrowingsAsOfClosingDateMember" xlink:label="ts_SignificantBorrowingsAsOfClosingDateMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TamsaHydrilAndOtherMember" xlink:label="ts_TamsaHydrilAndOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:label="ts_statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ts_SignificantBorrowingsAsOfClosingDateMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TamsaHydrilAndOtherMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_SidercaSaicAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-evolution-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-borrowings-evolution-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-evolution-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings-5" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfBusinessCombinationsOnLongtermBorrowings" xlink:label="ts_EffectOfBusinessCombinationsOnLongtermBorrowings-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" xlink:label="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" xlink:label="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfOverdraftsVariationOnLongtermBorrowings" xlink:label="ts_EffectOfOverdraftsVariationOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfReclassificationsOnLongtermBorrowings" xlink:label="ts_EffectOfReclassificationsOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EffectOfTranslationDifferencesOnLongtermBorrowings" xlink:label="ts_EffectOfTranslationDifferencesOnLongtermBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-borrowings-evolution-details" xlink:label="ts_statement-statement-note-19-borrowings-borrowings-evolution-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-19-borrowings-borrowings-evolution-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LongtermBorrowings-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-4" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfTranslationDifferencesOnLongtermBorrowings" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfReclassificationsOnLongtermBorrowings" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfBusinessCombinationsOnLongtermBorrowings-2" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-2" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfOverdraftsVariationOnLongtermBorrowings" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LongtermBorrowings-5" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LaterThanOneYearMember" xlink:label="ifrs-full_LaterThanOneYearMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:label="ts_statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_AggregatedTimeBandsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_MaturityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_LaterThanOneYearMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxAssets-n9" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilities-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:href="ts-20191231.xsd#statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:label="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:label="ts_statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxAssets-n8" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilities" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilityAsset-3" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilityAsset-4" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset-1" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilityAsset-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentPostemploymentBenefits" xlink:label="ts_NoncurrentPostemploymentBenefits" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNoncurrentBenefits" xlink:label="ts_OtherNoncurrentBenefits" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherNoncurrentMiscellaneousLiabilities" xlink:label="ts_OtherNoncurrentMiscellaneousLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:label="ts_statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-21-other-liabilities-other-noncurrent-liabilities-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentPostemploymentBenefits" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherNoncurrentBenefits" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherNoncurrentMiscellaneousLiabilities" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherNoncurrentLiabilities-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-postemployment-benefits-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-postemployment-benefits-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-postemployment-benefits-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PlanAssetsAtFairValue" xlink:label="ifrs-full_PlanAssetsAtFairValue-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SurplusDeficitInPlan" xlink:label="ifrs-full_SurplusDeficitInPlan-n10" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentPostemploymentBenefits" xlink:label="ts_NoncurrentPostemploymentBenefits" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UnfundedPostemploymentBenefitsMember" xlink:label="ts_UnfundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-postemployment-benefits-details" xlink:label="ts_statement-statement-note-21-other-liabilities-postemployment-benefits-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-21-other-liabilities-postemployment-benefits-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_UnfundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentPostemploymentBenefits" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-4" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset-n9" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-n9" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-5" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue-2" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PlanAssetsAtFairValue-n9" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2009/role/negatedTotalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_SurplusDeficitInPlan-n10" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-plan-assets-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-plan-assets-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-plan-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:label="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets" xlink:label="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FairValueOfFundedPostemploymentBenefitsMember" xlink:label="ts_FairValueOfFundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FundedPostemploymentBenefitsMember" xlink:label="ts_FundedPostemploymentBenefitsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherAssetsPercentContributedToFairValueOfPlanAssets" xlink:label="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-plan-assets-details" xlink:label="ts_statement-statement-note-21-other-liabilities-plan-assets-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-21-other-liabilities-plan-assets-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_FairValueOfFundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ts_FundedPostemploymentBenefitsMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-n9" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset-n9" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans-5" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets-2" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets-2" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherAssetsPercentContributedToFairValueOfPlanAssets-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-current-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-21-other-liabilities-other-current-liabilities-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-current-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCurrentLiabilities" xlink:label="ifrs-full_OtherCurrentLiabilities-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentEmployeeRelatedLiabilities" xlink:label="ts_CurrentEmployeeRelatedLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCurrentMiscellaneousLiabilities" xlink:label="ts_OtherCurrentMiscellaneousLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-21-other-liabilities-other-current-liabilities-details" xlink:label="ts_statement-statement-note-21-other-liabilities-other-current-liabilities-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-21-other-liabilities-other-current-liabilities-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentEmployeeRelatedLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherCurrentMiscellaneousLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherCurrentLiabilities-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:href="ts-20191231.xsd#statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdditionalProvisionsOtherProvisions" xlink:label="ifrs-full_AdditionalProvisionsOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProvisionUsedOtherProvisions" xlink:label="ifrs-full_ProvisionUsedOtherProvisions-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ProvisionForNoncurrentLiabilitiesMember" xlink:label="ts_ProvisionForNoncurrentLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:label="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-liabilities-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ts_ProvisionForNoncurrentLiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdditionalProvisionsOtherProvisions" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProvisionUsedOtherProvisions-n8" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:href="ts-20191231.xsd#statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets-n11" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets-n12" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:label="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForInventoryObsolescenceMember" xlink:label="ts_AllowanceForInventoryObsolescenceMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" xlink:label="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions" xlink:label="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions" xlink:label="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions-n9" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances" xlink:label="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:label="ts_statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-23-current-allowances-and-provisions-deducted-from-assets-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ts_AllowanceForDoubtfulAccountsTradeReceivablesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ts_AllowanceForInventoryObsolescenceMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets-n11" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions-n8" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions-n9" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances-n8" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets-1" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions-n9" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions-n8" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets-n12" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="ifrs-full_DerivativeFinancialAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativeFinancialLiabilities" xlink:label="ifrs-full_DerivativeFinancialLiabilities-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:label="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:label="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativeFinancialAssetsLiabilities" xlink:label="ts_DerivativeFinancialAssetsLiabilities-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativesHedgingBorrowingsAndInvestmentsMember" xlink:label="ts_DerivativesHedgingBorrowingsAndInvestmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherDerivativesMember" xlink:label="ts_OtherDerivativesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-24-derivative-financial-instruments-net-fair-values-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:to="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:to="ts_DerivativesHedgingBorrowingsAndInvestmentsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis" xlink:to="ts_OtherDerivativesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DerivativeFinancialAssets-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DerivativeFinancialLiabilities-n8" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DerivativeFinancialAssetsLiabilities-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:href="ts-20191231.xsd#statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate" xlink:label="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:label="ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:label="ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:label="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:label="ts_statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-27-business-combinations-assets-and-liabilities-assumed-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_InvestmentsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_WorkingCapitalRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherReceivablesRecognisedAsOfAcquisitionDate" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate-n8" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate-n8" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate-n8" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:label="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:label="ts_statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperations-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-discontinued-operations-details" xlink:href="ts-20191231.xsd#statement-note-29-discontinued-operations-discontinued-operations-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-discontinued-operations-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:label="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:label="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DiscontinuedOperationsMember" xlink:label="ifrs-full_DiscontinuedOperationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:label="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:label="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-29-discontinued-operations-discontinued-operations-details" xlink:label="ts_statement-statement-note-29-discontinued-operations-discontinued-operations-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-29-discontinued-operations-discontinued-operations-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingOperationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_DiscontinuedOperationsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Revenue" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_GrossProfit" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale-4" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale-5" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations-3" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentAssets-1" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentAssets-1" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners-1" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:href="ts-20191231.xsd#statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemuneration" xlink:label="ifrs-full_AuditorsRemuneration-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForAuditServices" xlink:label="ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForOtherServices" xlink:label="ifrs-full_AuditorsRemunerationForOtherServices" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AuditorsRemunerationForTaxServices" xlink:label="ifrs-full_AuditorsRemunerationForTaxServices" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AuditorsRemunerationForAuditrelatedFees" xlink:label="ts_AuditorsRemunerationForAuditrelatedFees" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:label="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_AuditorsRemunerationForAuditrelatedFees" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AuditorsRemunerationForTaxServices" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AuditorsRemunerationForOtherServices" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AuditorsRemuneration-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:href="ts-20191231.xsd#statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CA" xlink:label="country_CA" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CH" xlink:label="country_CH" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_GB" xlink:label="country_GB" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_ID" xlink:label="country_ID" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IT" xlink:label="country_IT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_JP" xlink:label="country_JP" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_KZ" xlink:label="country_KZ" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_MX" xlink:label="country_MX" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_NL" xlink:label="country_NL" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_PT" xlink:label="country_PT" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_RO" xlink:label="country_RO" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_SA" xlink:label="country_SA" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_UY" xlink:label="country_UY" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AlgomaTubesIncMember" xlink:label="ts_AlgomaTubesIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_Colombia1Member" xlink:label="ts_Colombia1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DalmineSPAMember" xlink:label="ts_DalmineSPAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilCompanyAndSubsidiariesMember" xlink:label="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_KazakhstanPipeThreadersLimitedMember" xlink:label="ts_KazakhstanPipeThreadersLimitedMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickTubeCorporationAndSubsidiariesMember" xlink:label="ts_MaverickTubeCorporationAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NkktubesMember" xlink:label="ts_NkktubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PrudentialSteelLtdMember" xlink:label="ts_PrudentialSteelLtdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PtSeamlessPipeIndonesiaJayaMember" xlink:label="ts_PtSeamlessPipeIndonesiaJayaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SaudiSteelPipeCompanyMember" xlink:label="ts_SaudiSteelPipeCompanyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ScSilcotubSaMember" xlink:label="ts_ScSilcotubSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SiatSociedadAnonimaMember" xlink:label="ts_SiatSociedadAnonimaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SidercaSaicAndSubsidiariesMember" xlink:label="ts_SidercaSaicAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" xlink:label="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisBayCityIncMember" xlink:label="ts_TenarisBayCityIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisConnectionsBvMember" xlink:label="ts_TenarisConnectionsBvMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisFinancialServicesSaMember" xlink:label="ts_TenarisFinancialServicesSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesCanadaIncMember" xlink:label="ts_TenarisGlobalServicesCanadaIncMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesSaAndSubsidiariesMember" xlink:label="ts_TenarisGlobalServicesSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesUkLtdMember" xlink:label="ts_TenarisGlobalServicesUkLtdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisGlobalServicesUsaCorporationMember" xlink:label="ts_TenarisGlobalServicesUsaCorporationMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisInvestmentsNLBVMember" xlink:label="ts_TenarisInvestmentsNLBVMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisInvestmentsSrlMember" xlink:label="ts_TenarisInvestmentsSrlMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" xlink:label="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TenarisTubocaribeLtdaMember" xlink:label="ts_TenarisTubocaribeLtdaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubosDeAceroDeMexicoSaMember" xlink:label="ts_TubosDeAceroDeMexicoSaMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:label="ts_statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_CA" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_AlgomaTubesIncMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_BR" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_IT" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_DalmineSPAMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_US" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_HydrilCompanyAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_KZ" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_KazakhstanPipeThreadersLimitedMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_MaverickTubeCorporationAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_JP" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_NkktubesMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_ID" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_PtSeamlessPipeIndonesiaJayaMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_PrudentialSteelLtdMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_RO" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_ScSilcotubSaMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_SA" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_SaudiSteelPipeCompanyMember" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_AR" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_SiatSociedadAnonimaMember" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_SidercaSaicAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_PT" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisBayCityIncMember" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_NL" xlink:type="arc"/>
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisConnectionsBvMember" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_UY" xlink:type="arc"/>
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisFinancialServicesSaMember" xlink:type="arc"/>
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisGlobalServicesCanadaIncMember" xlink:type="arc"/>
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisGlobalServicesUsaCorporationMember" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_GB" xlink:type="arc"/>
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisGlobalServicesUkLtdMember" xlink:type="arc"/>
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisGlobalServicesSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisInvestmentsNLBVMember" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_LU" xlink:type="arc"/>
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisInvestmentsSrlMember" xlink:type="arc"/>
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_CH" xlink:type="arc"/>
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ts_Colombia1Member" xlink:type="arc"/>
    <link:presentationArc order="25" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TenarisTubocaribeLtdaMember" xlink:type="arc"/>
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_MX" xlink:type="arc"/>
    <link:presentationArc order="26" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ts_TubosDeAceroDeMexicoSaMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_ARS" xlink:label="currency_ARS" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_EUR" xlink:label="currency_EUR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_MXN" xlink:label="currency_MXN" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_SAR" xlink:label="currency_SAR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_USD" xlink:label="currency_USD" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FloatingInterestRateMember" xlink:label="ifrs-full_FloatingInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCurrencyMember" xlink:label="ts_OtherCurrencyMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:label="ts_statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-19-borrowings-borrowings-by-currency-and-rate-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="currency_AllCurrenciesDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="srt_CurrencyAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="currency_USD" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfInterestRatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_FixedInterestRateMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_FloatingInterestRateMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="currency_SAR" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="currency_EUR" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="currency_MXN" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="currency_ARS" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="srt_CurrencyAxis" xlink:to="ts_OtherCurrencyMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LongtermBorrowings-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:href="ts-20191231.xsd#statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital-n10" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense" xlink:label="ifrs-full_InterestRevenueExpense-n10" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets" xlink:label="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup" xlink:label="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:label="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations" xlink:label="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InterestAccrualsLessPaymentsNetAbstract" xlink:label="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:label="ts_statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories-1" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables-1" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers-1" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables-1" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedTotalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInWorkingCapital-n10" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:to="ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations-1" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:to="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities-n9" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_IncomeTaxAccrualsLessPaymentsAbstract" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense-3" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-n9" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_InterestReceivedClassifiedAsOperatingActivities-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities-n9" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedTotalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_InterestRevenueExpense-n10" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-n8" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_InterestAccrualsLessPaymentsNetAbstract" xlink:to="ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:href="ts-20191231.xsd#statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherMember" xlink:label="ts_OtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TerniumSAMember" xlink:label="ts_TerniumSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_UsiminasMember" xlink:label="ts_UsiminasMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:label="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_TerniumSAMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_LU" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_UsiminasMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="country_BR" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ts_OtherMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:href="ts-20191231.xsd#statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowHedgesMember" xlink:label="ifrs-full_CashFlowHedgesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="ifrs-full_HedgingInstrumentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="ifrs-full_HedgingInstrumentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesAxis" xlink:label="ifrs-full_TypesOfHedgesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="ifrs-full_TypesOfHedgesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DerivativeFinancialAssetsLiabilities" xlink:label="ts_DerivativeFinancialAssetsLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractOtherMember" xlink:label="ts_ForeignExchangeContractOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" xlink:label="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:label="ts_statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ifrs-full_HedgingInstrumentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_HedgingInstrumentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfHedgesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_CashFlowHedgesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_HedgingInstrumentsAxis" xlink:to="ts_ForeignExchangeContractOtherMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DerivativeFinancialAssetsLiabilities" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:href="ts-20191231.xsd#statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:label="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MiscellaneousOtherOperatingIncome" xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherExpenseIncludingDiscontinuedOperations" xlink:label="ts_OtherExpenseIncludingDiscontinuedOperations-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations" xlink:label="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpenseDiscontinuedOperations" xlink:label="ts_OtherOperatingExpenseDiscontinuedOperations-n14" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpensesAbstract" xlink:label="ts_OtherOperatingExpensesAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables" xlink:label="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeAbstract" xlink:label="ts_OtherOperatingIncomeAbstract" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeNetIncomeFromOtherSales" xlink:label="ts_OtherOperatingIncomeNetIncomeFromOtherSales-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeNetRents" xlink:label="ts_OtherOperatingIncomeNetRents-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts" xlink:label="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:label="ts_statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherOperatingIncomeAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ts_OtherOperatingIncomeNetIncomeFromOtherSales-1" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ts_OtherOperatingIncomeNetRents-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ifrs-full_MiscellaneousOtherOperatingIncome-1" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts-1" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingIncomeAbstract" xlink:to="ifrs-full_OtherIncome-3" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherOperatingExpensesAbstract" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations-1" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables-1" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ts_OtherExpenseIncludingDiscontinuedOperations-3" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedNetLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ts_OtherOperatingExpenseDiscontinuedOperations-n14" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_OtherOperatingExpensesAbstract" xlink:to="ifrs-full_OtherExpenseByFunction-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:href="ts-20191231.xsd#statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FloatingInterestRateMember" xlink:label="ifrs-full_FloatingInterestRateMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConcentrationRiskPercentage" xlink:label="ts_ConcentrationRiskPercentage" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:label="ts_statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_InterestRateTypesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_TypesOfInterestRatesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_FixedInterestRateMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_FloatingInterestRateMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings-1" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ConcentrationRiskPercentage" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:href="ts-20191231.xsd#statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets" xlink:label="ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets" xlink:label="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:label="ts_statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Assets-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Assets-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:href="ts-20191231.xsd#statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesAllowanceForObsolescence" xlink:label="ts_CostOfSalesAllowanceForObsolescence" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:label="ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:label="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesDiscontinuedOperations" xlink:label="ts_CostOfSalesDiscontinuedOperations-n9" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesIncludingDiscontinuedOperations" xlink:label="ts_CostOfSalesIncludingDiscontinuedOperations-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesLaborCost" xlink:label="ts_CostOfSalesLaborCost" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesMaintenanceExpenses" xlink:label="ts_CostOfSalesMaintenanceExpenses" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesOther" xlink:label="ts_CostOfSalesOther-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:label="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesServicesAndFees" xlink:label="ts_CostOfSalesServicesAndFees" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CostOfSalesTaxes" xlink:label="ts_CostOfSalesTaxes" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:label="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncreaseInInventoryDueToBusinessCombinations" xlink:label="ts_IncreaseInInventoryDueToBusinessCombinations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InventoriesIncludingDiscontinuedOperations" xlink:label="ts_InventoriesIncludingDiscontinuedOperations-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:label="ts_statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-2-cost-of-sales-components-of-cost-of-sales-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Inventories" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_IncreaseInInventoryDueToBusinessCombinations" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesServicesAndFees" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesLaborCost" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesAmortizationOfIntangibleAssets" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesMaintenanceExpenses" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesAllowanceForObsolescence" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesTaxes" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesOther-1" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesIncludingDiscontinuedOperations-3" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_InventoriesIncludingDiscontinuedOperations-n8" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CostOfSalesDiscontinuedOperations-n9" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CostOfSales-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:href="ts-20191231.xsd#statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses" xlink:label="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations" xlink:label="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations-n9" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations" xlink:label="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesLaborCost" xlink:label="ts_SellingGeneralAndAdministrativeExpensesLaborCost-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesOther" xlink:label="ts_SellingGeneralAndAdministrativeExpensesOther-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies" xlink:label="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesServicesAndFees" xlink:label="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SellingGeneralAndAdministrativeExpensesTaxes" xlink:label="ts_SellingGeneralAndAdministrativeExpensesTaxes-2" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:label="ts_statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesServicesAndFees-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesLaborCost-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses-2" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts-2" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesTaxes-2" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesOther-2" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations-3" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations-n9" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:href="ts-20191231.xsd#statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherLongtermBenefits" xlink:label="ifrs-full_OtherLongtermBenefits-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShorttermEmployeeBenefitsExpense" xlink:label="ifrs-full_ShorttermEmployeeBenefitsExpense-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TerminationBenefitsExpense" xlink:label="ifrs-full_TerminationBenefitsExpense" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsExpenseDiscontinuedOperations" xlink:label="ts_EmployeeBenefitsExpenseDiscontinuedOperations-n9" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations" xlink:label="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:label="ts_statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ShorttermEmployeeBenefitsExpense-2" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TerminationBenefitsExpense" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherLongtermBenefits-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations-3" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_EmployeeBenefitsExpenseDiscontinuedOperations-n9" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EmployeeBenefitsExpense-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-financial-income-cost-details" xlink:href="ts-20191231.xsd#statement-note-6-financial-results-financial-income-cost-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-6-financial-results-financial-income-cost-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinanceIncomeCost" xlink:label="ifrs-full_FinanceIncomeCost-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromInterest" xlink:label="ifrs-full_RevenueFromInterest" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceIncomeCostContinuingOperations" xlink:label="ts_FinanceIncomeCostContinuingOperations-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceIncomeCostDiscontinuedOperations" xlink:label="ts_FinanceIncomeCostDiscontinuedOperations" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ForeignExchangeDerivativesContractsResults" xlink:label="ts_ForeignExchangeDerivativesContractsResults" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:label="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NetForeignExchangeTransactionResults" xlink:label="ts_NetForeignExchangeTransactionResults" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherFinancialIncomeCost" xlink:label="ts_OtherFinancialIncomeCost-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherForeignExchangeResults" xlink:label="ts_OtherForeignExchangeResults" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-6-financial-results-financial-income-cost-details" xlink:label="ts_statement-statement-note-6-financial-results-financial-income-cost-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-6-financial-results-financial-income-cost-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RevenueFromInterest" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinanceIncome-3" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinanceCosts-n8" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NetForeignExchangeTransactionResults" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_ForeignExchangeDerivativesContractsResults" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherForeignExchangeResults" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_OtherFinancialIncomeCost-3" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_FinanceIncomeCostContinuingOperations-3" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_FinanceIncomeCostDiscontinuedOperations" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_FinanceIncomeCost-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:href="ts-20191231.xsd#statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="ifrs-full_CurrentTaxExpenseIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="ifrs-full_DeferredTaxExpenseIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IncomeTaxesAccrued" xlink:label="ts_IncomeTaxesAccrued-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations" xlink:label="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:label="ts_statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxExpenseIncome" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxExpenseIncome" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_IncomeTaxesAccrued-3" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations-n8" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations-1" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:href="ts-20191231.xsd#statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxEffectFromChangeInTaxRate" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxEffectOfTaxLosses" xlink:label="ifrs-full_TaxEffectOfTaxLosses" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:label="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:label="ts_statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProfitLossBeforeTax" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TaxEffectOfTaxLosses" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations-2" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:href="ts-20191231.xsd#statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ConstructionInProgressMember" xlink:label="ifrs-full_ConstructionInProgressMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:label="ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="ifrs-full_GrossCarryingAmountMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:label="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LandAndCivilBuildingsMember" xlink:label="ts_LandAndCivilBuildingsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SparePartsAndEquipmentMember" xlink:label="ts_SparePartsAndEquipmentMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_VehiclesFurnitureAndFixturesMember" xlink:label="ts_VehiclesFurnitureAndFixturesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:label="ts_statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_GrossCarryingAmountMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ts_LandAndCivilBuildingsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ts_IndustrialBuildingsPlantAndProductionEquipmentMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ts_VehiclesFurnitureAndFixturesMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_ConstructionInProgressMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ts_SparePartsAndEquipmentMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipment-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment-1" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment-n9" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment-1" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment-1" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipment-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GoodwillMember" xlink:label="ifrs-full_GoodwillMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="ifrs-full_GrossCarryingAmountMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill-4" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill-5" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_InformationSystemProjectsMember" xlink:label="ts_InformationSystemProjectsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_LicensesPatentsAndTrademarksMember" xlink:label="ts_LicensesPatentsAndTrademarksMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:label="ts_statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_GrossCarryingAmountMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ts_InformationSystemProjectsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ts_LicensesPatentsAndTrademarksMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_GoodwillMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill-4" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill-2" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill-2" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill-2" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DisposalsIntangibleAssetsAndGoodwill-n9" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill-2" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill-5" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:href="ts-20191231.xsd#statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AllOtherSegmentsMember" xlink:label="ifrs-full_AllOtherSegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CoiledTubingMember" xlink:label="ts_CoiledTubingMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:label="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrilMember" xlink:label="ts_HydrilMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_HydrillAcquisitionMember" xlink:label="ts_HydrillAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_MaverickAcquisitionMember" xlink:label="ts_MaverickAcquisitionMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OCTGUSAMember" xlink:label="ts_OCTGUSAMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_OtherCguMember" xlink:label="ts_OtherCguMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_SidercaHydrilAndOtherMember" xlink:label="ts_SidercaHydrilAndOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TamsaHydrilAndOtherMember" xlink:label="ts_TamsaHydrilAndOtherMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_TubesMember" xlink:label="ts_TubesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:label="ts_statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_SegmentsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ts_TubesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BusinessCombinationsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_MaverickAcquisitionMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ts_OCTGUSAMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ts_HydrillAcquisitionMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_AllOtherSegmentsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ts_TamsaHydrilAndOtherMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ts_SidercaHydrilAndOtherMember" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ts_HydrilMember" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ts_ConfabIndustrialSaAndSubsidiariesMember" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ts_CoiledTubingMember" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ts_OtherCguMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Goodwill" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:href="ts-20191231.xsd#statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances" xlink:label="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesExpectedLossRate" xlink:label="ts_CurrentTradeReceivablesExpectedLossRate" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGross" xlink:label="ts_CurrentTradeReceivablesGross-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesGuaranteed" xlink:label="ts_CurrentTradeReceivablesGuaranteed" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts" xlink:label="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNotDueMember" xlink:label="ts_CurrentTradeReceivablesNotDueMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesNotGuaranteed" xlink:label="ts_CurrentTradeReceivablesNotGuaranteed" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" xlink:label="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" xlink:label="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:label="ts_statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfAssetsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_CurrentTradeReceivablesNotDueMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_CurrentTradeReceivablesPastDueLessThan180DaysMember" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesGuaranteed" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesNotGuaranteed" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesGross-3" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesExpectedLossRate" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances-n8" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts-n8" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:href="ts-20191231.xsd#statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-7" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings-7" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BankBorrowingsMember" xlink:label="ts_BankBorrowingsMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_BankOverdrafts1Member" xlink:label="ts_BankOverdrafts1Member" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:label="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_CurrentCostsOfIssueOfDebt" xlink:label="ts_CurrentCostsOfIssueOfDebt-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceLeaseLiabilitiesMember" xlink:label="ts_FinanceLeaseLiabilitiesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:label="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentCostsOfIssueOfDebt" xlink:label="ts_NoncurrentCostsOfIssueOfDebt-n8" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:label="ts_statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-19-borrowings-noncurrent-and-current-borrowings-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_BorrowingsByNameAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ts_BankBorrowingsMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ts_BankOverdrafts1Member" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ts_FinanceLeaseLiabilitiesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_NoncurrentCostsOfIssueOfDebt-n8" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/netLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LongtermBorrowings-7" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_CurrentCostsOfIssueOfDebt-n8" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/netLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-7" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Borrowings-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:href="ts-20191231.xsd#statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions-n8" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions-n11" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions-n12" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProvisionUsedOtherProvisions" xlink:label="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_NoncurrentAllowanceForReceivablesMember" xlink:label="ts_NoncurrentAllowanceForReceivablesMember" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:label="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_OtherProvisionsMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ts_NoncurrentAllowanceForReceivablesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions-n11" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions-n8" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherProvisions-n12" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:href="ts-20191231.xsd#statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions-n9" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssociatesMember" xlink:label="ifrs-full_AssociatesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="ifrs-full_OtherRelatedPartiesMember" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:label="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions" xlink:label="ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:label="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:label="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_AmountsReceivablePayableRelatedPartyTransactions" xlink:label="ts_AmountsReceivablePayableRelatedPartyTransactions-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:label="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_FinancialDebtRelatedParties" xlink:label="ts_FinancialDebtRelatedParties-3" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions" xlink:label="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_RevenueRelatedPartyTransactions" xlink:label="ts_RevenueRelatedPartyTransactions-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:label="ts_statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_statement-statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_AssociatesMember" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_OtherRelatedPartiesMember" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions-1" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_RevenueRelatedPartyTransactions-1" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions-1" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions-1" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions-1" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions-1" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_AmountsPayableRelatedPartyTransactions-n9" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_AmountsReceivablePayableRelatedPartyTransactions-1" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ts_FinancialDebtRelatedParties-3" xlink:type="arc"/>
  </link:presentationLink>
  <link:roleRef roleURI="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-financial-position" xlink:href="ts-20191231.xsd#statement-consolidated-statement-of-financial-position" xlink:type="simple"/>
  <link:presentationLink xlink:role="http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-financial-position" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAdvances" xlink:label="ifrs-full_CurrentAdvances-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentDerivativeFinancialAssets" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLeaseLiabilities" xlink:label="ifrs-full_CurrentLeaseLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentProvisions" xlink:label="ifrs-full_CurrentProvisions-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities-3" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-2" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLeaseLiabilities" xlink:label="ifrs-full_NoncurrentLeaseLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentProvisions" xlink:label="ifrs-full_NoncurrentProvisions-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentReceivables" xlink:label="ifrs-full_NoncurrentReceivables" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCurrentLiabilities" xlink:label="ifrs-full_OtherCurrentLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities-1" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RightofuseAssets" xlink:label="ifrs-full_RightofuseAssets" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="ifrs-full_TradeAndOtherCurrentPayables-1" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementLineItems" xlink:label="ts_StatementLineItems" xlink:type="locator"/>
    <link:loc xlink:href="ts-20191231.xsd#ts_StatementTable" xlink:label="ts_StatementTable" xlink:type="locator"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="ts_StatementTable" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementTable" xlink:to="ts_StatementLineItems" xlink:type="arc"/>
    <link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_PropertyPlantAndEquipment" xlink:type="arc"/>
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill-1" xlink:type="arc"/>
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_RightofuseAssets" xlink:type="arc"/>
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates-1" xlink:type="arc"/>
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod-2" xlink:type="arc"/>
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxAssets" xlink:type="arc"/>
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentReceivables" xlink:type="arc"/>
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentAssets" xlink:type="arc"/>
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Inventories-1" xlink:type="arc"/>
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:type="arc"/>
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="arc"/>
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTradeReceivables" xlink:type="arc"/>
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentDerivativeFinancialAssets-1" xlink:type="arc"/>
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentInvestments-2" xlink:type="arc"/>
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CashAndCashEquivalents" xlink:type="arc"/>
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentAssets-2" xlink:type="arc"/>
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Assets-3" xlink:type="arc"/>
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="arc"/>
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncontrollingInterests" xlink:type="arc"/>
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Equity-3" xlink:type="arc"/>
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_LongtermBorrowings-1" xlink:type="arc"/>
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentLeaseLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_DeferredTaxLiabilities-2" xlink:type="arc"/>
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherNoncurrentLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentProvisions-1" xlink:type="arc"/>
    <link:presentationArc order="25" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_NoncurrentLiabilities" xlink:type="arc"/>
    <link:presentationArc order="26" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-1" xlink:type="arc"/>
    <link:presentationArc order="27" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentLeaseLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="28" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="29" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent-1" xlink:type="arc"/>
    <link:presentationArc order="30" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_OtherCurrentLiabilities-1" xlink:type="arc"/>
    <link:presentationArc order="31" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentProvisions-1" xlink:type="arc"/>
    <link:presentationArc order="32" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentAdvances-1" xlink:type="arc"/>
    <link:presentationArc order="33" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_TradeAndOtherCurrentPayables-1" xlink:type="arc"/>
    <link:presentationArc order="34" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_CurrentLiabilities" xlink:type="arc"/>
    <link:presentationArc order="35" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_Liabilities-3" xlink:type="arc"/>
    <link:presentationArc order="36" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ts_StatementLineItems" xlink:to="ifrs-full_EquityAndLiabilities-3" xlink:type="arc"/>
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>pwc.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 pwc.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    /   _^X #D%D
M;V)E &3      ?_; (0 !@0$! 4$!@4%!@D&!08)"P@&!@@+# H*"PH*#! ,
M# P,# P0# X/$ \.#!,3%!03$QP;&QL<'Q\?'Q\?'Q\?'P$'!P<-# T8$! 8
M&A41%1H?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?
M'Q\?'Q\?'Q\?_\  $0@ YP$W P$1  (1 0,1 ?_$ )4  0 " P$! 0$
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M1G4/L.:4.M*):%$1X:%)Q(P'H
M      K[MELH?L^V67.P=K3:%8:#P4PX1@,Q]D+)O]6G>-J]0 ^R%DW^K3O&
MU>H ?9"R;_5IWC:O4 /LA9-_JT[QM7J 'V0LF_U:=XVKU &"OW9:RGHMC7%6
M8,>8F;3:9-F137)4I).L1UN(UDX:2UDEH ;[LW="5K>\/>4N@)*
M                                5\VS$NKLZVDLJU'E5ILFUGN$HV',
M#](P'IS;;5GG&@_!%\5 .;;:L\XT'X(OBH!S;;5GG&@_!%\5 .;;:L\XT'X(
MOBH!S;;5GG&@_!%\5 82]\O]I:+9=?E5B_8<RDL4V6[48B&B)3T9#"U/-I/O
M9.E:"-.Z0#%Y2V-M#5'+NBS;8O>)2Z$\VX<& XV2EM))Y9*(S[W<W5D9]D8#
M=]GFZ\Q)][7O;=XUKY8=MY;,=MPD-H;)PG'4.*1JH;5@K4+L@$[@
M                               @#;$^BUJ\N-=I< 3^      -5S8Z+
M+RY#J7D;@#7]F[H2M;WA[RET!I61'3CF[X<CM[X"?P
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M:I@+-@                                   @#;$^BUJ\N-=I< 3^
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MCIQS=\.1V]\!/X  @O/SI<R:Y5E=MA )T
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M;5SU]ZN_-]QF,P\Z1)3K$XZA:TI];K:A;X">@
M         $ ;8GT6M7EQKM+@"?P   07>W_+3+SDJ;Y/- 3H U7-CHLO+D.I
M>1N -?V;NA*UO>'O*70&E9$=..;OAR.WO@)_  $%Y^=+F37*LKML(!.@" ,B
M.G'-WPY';WP$_@                                ( VQ/HM:O+C7:7
M $_@   @N]O^6F7G)4WR>: G0!JN;'19>7(=2\C< :_LW="5K>\/>4N@-*R(
MZ<<W?#D=O? 3^  (+S\Z7,FN597;80"= $ 9$=..;OAR.WO@)_
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M[.]P_P!W ;1DODO6; K-P5>KW!\O3:]Q1OOFTIMSC&U+4I:U*6YK&KC $K@
M                       .58       + ;%72G5>0Y'ED0!=0
M                                 :5S*91_5"E>*M>H <RF4?U0I7BK
M7J ',IE']4*5XJUZ@!S*91_5"E>*M>H <RF4?U0I7BK7J ',IE']4*5XJUZ@
M#*6]EY8UMS5SJ!0H5+F.-FPY(BLH:6II2DJ-!J21:#4A)X=0!L(
M
M                                                          /P
M\^PPCC'G$M(W-99DDL3ZI@/XQ)CR$FIAU#J2/ U(42B(^#0 ]
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M/>Q=;<<-/N# 5UO*R[DLVNO4.X8:H<]G!1$9DI#C:NQ<:676K0K#=+T#TD9
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M.T@W$1RZJ"Q4O[[1I(B 4BN*N3:]7JC6YRM:94I#LI\\<<%.K-9D74+' NH
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MDF2DG596!EI+]*8#2P%R=B5:/F'7D:Q:Y53$TXZ<#CM%C@ L6
M                                   *4YZP,]JSF#7X<.#<DVVT25)@
M,1H\U<(VM4NP)I/%*+JZ0$6<T^:?U-KG\MF=S .:?-/ZFUS^6S.Y@/:'EIG!
M"?3(AVI<,:0CL'F:?-;67H*2V1@+0;*S^;?'5Z+?2*TF(TU&.F_+3<A/7&IP
MG":7)22CT$G$B/0 L&
K                                                     #__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>R109.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6799125360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Right-of-use Assets (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCost', window );">Opening net book amount</a></td>
<td class="nump">$ 238,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations', window );">Increase due to business combinations</a></td>
<td class="nump">2,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostCurrencyTranslationAdjustments', window );">Currency translation adjustment</a></td>
<td class="num">(74)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostAdditions', window );">Additions</a></td>
<td class="nump">41,442<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostDisposals', window );">Disposals</a></td>
<td class="num">(6,315)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostTransfers', window );">Transfers</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCost', window );">Closing net book amount</a></td>
<td class="nump">275,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsDepreciationAbstract', window );"><strong>Depreciation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciation', window );">Accumulated at the beginning of the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences', window );">Translation differences</a></td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation charge</a></td>
<td class="nump">44,291<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications', window );">Transfers / Reclassifications</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions', window );">Disposals / Consumptions</a></td>
<td class="num">(1,705)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciation', window );">Accumulated at the end of the year</a></td>
<td class="nump">42,594<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="nump">233,126<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_LandAndCivilBuildingsMember', window );">Land and civil buildings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCost', window );">Opening net book amount</a></td>
<td class="nump">27,713<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations', window );">Increase due to business combinations</a></td>
<td class="nump">229<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostCurrencyTranslationAdjustments', window );">Currency translation adjustment</a></td>
<td class="num">(88)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostAdditions', window );">Additions</a></td>
<td class="nump">9,292<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostDisposals', window );">Disposals</a></td>
<td class="num">(1,009)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostTransfers', window );">Transfers</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCost', window );">Closing net book amount</a></td>
<td class="nump">36,137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsDepreciationAbstract', window );"><strong>Depreciation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciation', window );">Accumulated at the beginning of the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences', window );">Translation differences</a></td>
<td class="num">(3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation charge</a></td>
<td class="nump">8,514<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications', window );">Transfers / Reclassifications</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions', window );">Disposals / Consumptions</a></td>
<td class="num">(181)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciation', window );">Accumulated at the end of the year</a></td>
<td class="nump">8,330<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="nump">27,807<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_IndustrialBuildingsPlantAndProductionEquipmentMember', window );">Industrial buildings, plant and production equipment [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCost', window );">Opening net book amount</a></td>
<td class="nump">202,352<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations', window );">Increase due to business combinations</a></td>
<td class="nump">2,038<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostCurrencyTranslationAdjustments', window );">Currency translation adjustment</a></td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostAdditions', window );">Additions</a></td>
<td class="nump">24,985<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostDisposals', window );">Disposals</a></td>
<td class="num">(4,488)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostTransfers', window );">Transfers</a></td>
<td class="nump">496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCost', window );">Closing net book amount</a></td>
<td class="nump">225,389<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsDepreciationAbstract', window );"><strong>Depreciation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciation', window );">Accumulated at the beginning of the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences', window );">Translation differences</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation charge</a></td>
<td class="nump">31,869<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications', window );">Transfers / Reclassifications</a></td>
<td class="num">(62)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions', window );">Disposals / Consumptions</a></td>
<td class="num">(1,229)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciation', window );">Accumulated at the end of the year</a></td>
<td class="nump">30,581<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="nump">194,808<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_VehiclesFurnitureAndFixturesMember', window );">Vehicles, furniture and fixtures [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCost', window );">Opening net book amount</a></td>
<td class="nump">8,335<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations', window );">Increase due to business combinations</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostCurrencyTranslationAdjustments', window );">Currency translation adjustment</a></td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostAdditions', window );">Additions</a></td>
<td class="nump">7,165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostDisposals', window );">Disposals</a></td>
<td class="num">(818)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCostTransfers', window );">Transfers</a></td>
<td class="num">(496)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsCost', window );">Closing net book amount</a></td>
<td class="nump">14,194<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsDepreciationAbstract', window );"><strong>Depreciation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciation', window );">Accumulated at the beginning of the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences', window );">Translation differences</a></td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation charge</a></td>
<td class="nump">3,908<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications', window );">Transfers / Reclassifications</a></td>
<td class="nump">62<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions', window );">Disposals / Consumptions</a></td>
<td class="num">(295)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsAccumulatedDepreciation', window );">Accumulated at the end of the year</a></td>
<td class="nump">3,683<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="nump">$ 10,511<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of right-of-use assets. [Refer: Depreciation and amortisation expense; Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 53<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_53_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 53<br> -Subparagraph j<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of accumulated depreciation for right-of-use assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the effect of disposals/consumptions on accumulated depreciation for operating lease assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsAccumulatedDepreciationDisposalsConsumptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the effect of transfers/reclassifications on accumulated depreciation for operating lease assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsAccumulatedDepreciationTransfersReclassifications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the effect of translation differences on accumulated depreciation for operating lease assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsAccumulatedDepreciationTranslationDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the cost of right-of-use assets as of the specified date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsCostAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsCostAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsCostAdditions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of additions to the cost of right-of-use assets during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsCostAdditions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsCostCurrencyTranslationAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the change in the cost of right-of-use assets during the period due to currency translation adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsCostCurrencyTranslationAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsCostDisposals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the decrease in the cost of right-of-use assets during the period due to disposals.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsCostDisposals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the increase in the cost of right-of-use assets during the period due to business combinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsCostIncreaseDueToBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsCostTransfers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the change during the period in the cost of right-of-use assets attributable to transfers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsCostTransfers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsDepreciationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsDepreciationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_LandAndCivilBuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_LandAndCivilBuildingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_IndustrialBuildingsPlantAndProductionEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_IndustrialBuildingsPlantAndProductionEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_VehiclesFurnitureAndFixturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_VehiclesFurnitureAndFixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
<FILENAME>R12.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790256688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Cost of Sales<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCostOfSalesExplanatory', window );">Disclosure of cost of sales [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td>Cost of sales</td> </tr>  </table> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; font-weight: bold; text-align: justify">Inventories at the beginning of the year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,524,341</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,368,304</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,563,889</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase in inventory due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,966</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Plus: Charges of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Raw materials, energy, consumables and other</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,709,629</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,400,396</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,794,503</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Services and fees</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">222,415</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">275,130</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">244,035</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Labor cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">870,261</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">855,040</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">778,408</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Depreciation of property, plant and equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,791</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">432,497</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">383,490</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Amortization of intangible assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,948</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,220</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,621</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Depreciation of right-of-use assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,727</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Maintenance expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">284,758</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">185,782</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">183,370</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Allowance for obsolescence</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,138</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,457</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(12,917</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">100,738</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">133,308</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,542</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115,663</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">119,507</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">88,823</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,849,034</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,435,337</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,496,875</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Less: Inventories at the end of the year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,265,880</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,524,341</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,368,304</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,403</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,107,495</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,279,300</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,685,057</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfCostOfSalesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the cost of sales. [Refer: Cost of sales]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfCostOfSalesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>R105.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790433664">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 10 - Intangible Assets, Net (Details Textual)<br> $ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill at end of period</a></td>
<td class="nump">$ 1,320.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_NorthAmerica1Member', window );">North America [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill at end of period</a></td>
<td class="nump">1,168.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_SouthAmerica1Member', window );">South America [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill at end of period</a></td>
<td class="nump">116.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_Europe1Member', window );">Europe [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill at end of period</a></td>
<td class="nump">1.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_MiddleEastAndAfricaMember', window );">Middle East and Africa [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill at end of period</a></td>
<td class="nump">$ 33.7<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 134<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 135<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_NorthAmerica1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_NorthAmerica1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_SouthAmerica1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_SouthAmerica1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_Europe1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_Europe1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_MiddleEastAndAfricaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_MiddleEastAndAfricaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R16.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6789134096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Financial Results<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory', window );">Disclosure of finance income (cost) [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">6</div></div></td> <td><div style="display: inline; font-weight: bold;">Financial results </div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 55%; font-size: 10pt; text-align: justify">Interest Income</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,061</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,244</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">51,525</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify">Net result on changes in FV of financial assets at FVPL</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(64</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,388</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,920</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Finance income (*)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,997</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">39,856</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,605</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Finance cost</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(43,381</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(36,942</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27,072</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Net foreign exchange transactions results (**)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,868</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,845</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(48,955</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Foreign exchange derivatives contracts results (***)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,616</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,576</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(8,996</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify">Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,585</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,035</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,392</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: justify">Other financial results</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,667</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,386</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(43,559</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Net financial results</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,283</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,300</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(23,026</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,283</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,300</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(23,017</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">(*) Finance Income: </div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">In <div style="display: inline; font-style: italic; font: inherit;">2019</div> and <div style="display: inline; font-style: italic; font: inherit;">2018</div> includes <div style="display: inline; font-style: italic; font: inherit;">$7.6</div> and <div style="display: inline; font-style: italic; font: inherit;">$3.6</div> million of interest related to instruments carried at FVPL, respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(**) <div style="display: inline; font-style: italic;">Net foreign exchange transactions results:</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">In <div style="display: inline; font-style: italic; font: inherit;">2019</div> mainly includes the result from the Argentine peso depreciation against the U.S. dollar on Peso denominated financial, trade, social and fiscal payables and receivables at Argentine subsidiaries with functional currency U.S. dollar.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white">In <div style="display: inline; font-style: italic; font: inherit;">2018</div> mainly includes the result from the Argentine peso depreciation against the U.S. dollar on Peso denominated financial, trade, social and fiscal payables and receivables at Argentine subsidiaries with functional currency U.S. dollar, together with the positive impact from Euro depreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. Dollar, largely offset by an increase in currency translation adjustment reserve from our Italian subsidiary.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white">In <div style="display: inline; font-style: italic; font: inherit;">2017</div> mainly includes the negative impact from Euro appreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. Dollar, largely offset by an increase in currency translation adjustment reserve from our Italian subsidiary.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(***) <div style="display: inline; font-style: italic;">Foreign exchange derivatives contracts results:</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;">2019</div> includes mainly losses on derivatives covering net payables in Argentine peso and in Euros and net receivables in Canadian dollar.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;">2018</div> includes mainly gain on derivatives covering net receivables in Canadian dollar.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;">2017</div> includes mainly losses on derivatives covering net receivables in Brazilian real and Canadian dollar and net payables in Argentine peso, partially offset by gains on derivatives covering net payables in Euro.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of finance income (cost). [Refer: Finance income (cost)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R101.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810119568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Income Tax - Summary of Differences Between Income Tax and Theoretical Amount Using Tax Rate in Each Country (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="nump">$ 933,710<span></span>
</td>
<td class="nump">$ 1,103,107<span></span>
</td>
<td class="nump">$ 427,711<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate', window );">Tax calculated at the tax rate in each country</a></td>
<td class="nump">186,752<span></span>
</td>
<td class="nump">207,422<span></span>
</td>
<td class="nump">6,456<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome', window );">Effect of currency translation on tax base</a></td>
<td class="nump">53,296<span></span>
</td>
<td class="nump">77,552<span></span>
</td>
<td class="num">(922)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectFromChangeInTaxRate', window );">Changes in the tax rates</a></td>
<td class="num">(13)<span></span>
</td>
<td class="nump">1,824<span></span>
</td>
<td class="num">(62,968)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfTaxLosses', window );">Utilization of previously unrecognized tax losses</a></td>
<td class="num">(547)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss', window );">Tax revaluation, withholding tax and others</a></td>
<td class="num">(37,036)<span></span>
</td>
<td class="num">(57,591)<span></span>
</td>
<td class="nump">40,298<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Tax charge</a></td>
<td class="nump">$ 202,452<span></span>
</td>
<td class="nump">$ 229,207<span></span>
</td>
<td class="num">$ (17,136)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to exchange differences on the translation of financial statements of foreign operations. [Refer: Other comprehensive income; Reserve of exchange differences on translation]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectFromChangeInTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to changes in the tax rate. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectFromChangeInTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfTaxLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to tax losses. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfTaxLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The product of the accounting profit multiplied by the applicable tax rate(s). [Refer: Accounting profit; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseIncomeAtApplicableTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to revenues that are exempt from taxation and to expenses not deductible in determining taxable profit (tax loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TaxEffectOfRevenuesExemptFromTaxationAndExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790576864">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 29 - Discontinued Operations<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory', window );">Disclosure of non-current assets held for sale and discontinued operations [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 38.75pt"><div style="display: inline; font-style: italic; font: inherit;">29</div></td> <td style="text-align: justify">Discontinued Operations</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> December 15, 2016, </div>Tenaris entered into an agreement with Nucor Corporation (&#x201c;NC&#x201d;) pursuant to which it has sold to NC the steel electric conduit business in North America, known as Republic Conduit for an amount of <div style="display: inline; font-style: italic; font: inherit;">$328</div> million (net of transaction costs). The sale was completed on <div style="display: inline; font-style: italic; font: inherit;"> January 19, 2017, </div>with effect from <div style="display: inline; font-style: italic; font: inherit;"> January 20, 2017. </div>The result of this transaction was an after-tax gain of <div style="display: inline; font-style: italic; font: inherit;">$89.7</div> million, calculated as the net proceeds of the sale less the book value of net assets held for sale, the corresponding tax effect and related expenses.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt; text-align: left">&nbsp;Income from discontinued operations</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,848</div></td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;After tax gain on the sale of Conduit</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89,694</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;Net Income for discontinued operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">91,542</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">Details of Conduit sale</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt; text-align: left">Cash received</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">331,295</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transaction and other costs</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,663</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt">Carrying amount of net assets sold</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(137,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Gain on sale before income tax</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">189,817</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt">Income tax expense on gain</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(100,123</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Gain on sale after income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89,694</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">The financial performances presented are relative to the <div style="display: inline; font-style: italic; font: inherit;">19</div> days of <div style="display: inline; font-style: italic; font: inherit;"> January 2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Analysis of the result of discontinued operations:</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt">Revenues</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,899</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Gross profit</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,496</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">Net income</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,848</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 160 -->   <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">Summarized cash flow information is as follows<div style="display: inline; font-weight: bold;">:</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt; text-align: left">Cash at the beginning</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,820</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Cash at the end</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">206</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">(Decrease) Increase in cash</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(18,614</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">(Used in) provided by operating activities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,046</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Provided by (used in) investing activities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Used in financing activities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(15,600</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">These amounts were estimated only for disclosure purposes, as cash flows from discontinued operations were <div style="display: inline; font-style: italic; font: inherit;">not</div> managed separately from other cash flows.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The following table shows carrying amounts of assets and liabilities as at the date of sale.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Current and non-current assets and liabilities of disposal group</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">At January 19, 2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt; text-align: left">Non-current assets</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">87,332</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current assets</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">69,332</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets of disposal group classified as held for sale</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">156,664</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,294</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,556</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities of disposal group classified as held for sale</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,850</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for non-current assets held for sale and discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Section Presentation and disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IFRS05_g30-42_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808840272">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Consolidated Income Statement - USD ($)<br> shares in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ContinuingOperationsAbstract', window );"><strong>Continuing operations</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 7,294,055<span></span>
</td>
<td class="nump">$ 7,658,588<span></span>
</td>
<td class="nump">$ 5,288,504<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,107,495)<span></span>
</td>
<td class="num">(5,279,300)<span></span>
</td>
<td class="num">(3,685,057)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,186,560<span></span>
</td>
<td class="nump">2,379,288<span></span>
</td>
<td class="nump">1,603,447<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,365,974)<span></span>
</td>
<td class="num">(1,509,976)<span></span>
</td>
<td class="num">(1,270,016)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other operating income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">23,004<span></span>
</td>
<td class="nump">15,059<span></span>
</td>
<td class="nump">10,516<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherExpenseByFunction', window );">Other operating expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(11,199)<span></span>
</td>
<td class="num">(12,558)<span></span>
</td>
<td class="num">(9,359)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Operating income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">832,391<span></span>
</td>
<td class="nump">871,813<span></span>
</td>
<td class="nump">334,588<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Finance income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">47,997<span></span>
</td>
<td class="nump">39,856<span></span>
</td>
<td class="nump">47,605<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(43,381)<span></span>
</td>
<td class="num">(36,942)<span></span>
</td>
<td class="num">(27,072)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherFinanceIncomeCost', window );">Other financial results</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,667<span></span>
</td>
<td class="nump">34,386<span></span>
</td>
<td class="num">(43,550)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax', window );">Income before equity in earnings of non-consolidated companies and income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">851,674<span></span>
</td>
<td class="nump">909,113<span></span>
</td>
<td class="nump">311,571<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Equity in earnings of non-consolidated companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">82,036<span></span>
</td>
<td class="nump">193,994<span></span>
</td>
<td class="nump">116,140<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">933,710<span></span>
</td>
<td class="nump">1,103,107<span></span>
</td>
<td class="nump">427,711<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(202,452)<span></span>
</td>
<td class="num">(229,207)<span></span>
</td>
<td class="nump">17,136<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromContinuingOperations', window );">Income for continuing operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 731,258<span></span>
</td>
<td class="nump">$ 873,900<span></span>
</td>
<td class="nump">$ 444,847<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations', window );">Basic and diluted earnings (losses) per share (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 0.63<span></span>
</td>
<td class="nump">$ 0.74<span></span>
</td>
<td class="nump">$ 0.38<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations', window );">Basic and diluted earnings per ADS (U.S. dollars per ADS) (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">$ 1.26<span></span>
</td>
<td class="nump">$ 1.48<span></span>
</td>
<td class="nump">$ 0.77<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DiscontinuedOperationsAbstract', window );"><strong>Discontinued operations</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromDiscontinuedOperations', window );">Result for discontinued operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 91,542<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">731,258<span></span>
</td>
<td class="nump">873,900<span></span>
</td>
<td class="nump">536,389<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToAbstract', window );"><strong>Attributable to:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Owners of the parent</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">742,686<span></span>
</td>
<td class="nump">876,063<span></span>
</td>
<td class="nump">544,737<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(11,428)<span></span>
</td>
<td class="num">(2,163)<span></span>
</td>
<td class="num">(8,348)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 731,258<span></span>
</td>
<td class="nump">$ 873,900<span></span>
</td>
<td class="nump">$ 536,389<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Earnings per share attributable to the owners of the parent during the year:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageShares', window );">Weighted average number of ordinary shares (thousands) (in shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,180,537<span></span>
</td>
<td class="nump">1,180,537<span></span>
</td>
<td class="nump">1,180,537<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ContinuingAndDiscontinuedOperationsAbstract', window );"><strong>Continuing and discontinued operations</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicAndDilutedEarningsLossPerShare', window );">Basic and diluted earnings (losses) per share (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 0.63<span></span>
</td>
<td class="nump">$ 0.74<span></span>
</td>
<td class="nump">$ 0.46<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_BasicAndDilutedEarningsLossesPerAds', window );">Basic and diluted earnings per ADS (U.S. dollars per ADS) (*) (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">$ 1.26<span></span>
</td>
<td class="nump">$ 1.48<span></span>
</td>
<td class="nump">$ 0.92<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2019 and 2018 includes $7.6 and $3.6 million of interest related to instruments carried at FVPL, respectively.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Each ADS equals two shares.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicAndDilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of earnings per share when the basic and diluted measurements are equal. [Refer: Basic earnings (loss) per share; Diluted earnings (loss) per share]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicAndDilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Basic and diluted earnings (loss) per share from continuing operations. [Refer: Basic and diluted earnings (loss) per share]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicAndDilutedEarningsLossPerShareFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs relating to expenses directly or indirectly attributed to the goods or services sold, which may include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, unallocated production overheads and abnormal amounts of production costs of inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherExpenseByFunction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'function of expense' form for its analysis of expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35_b_vii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByFunction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of finance income or cost that the entity does not separately disclose in the same statement or note. [Refer: Finance income (cost)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35_b_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2019-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2019-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2019-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 12<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations. [Refer: Continuing operations [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_vi&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from discontinued operations. [Refer: Discontinued operations [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_vii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph ea<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_ea&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 98<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_98_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2019-01-01<br> -Paragraph IE33<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.
Effective 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to selling, general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_g&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2019-01-01<br> -Paragraph 39M<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2019-en-b&amp;anchor=para_39M_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2019-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_BasicAndDilutedEarningsLossesPerAds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of Basic and diluted earnings (losses) per ADS. Each ADS equals two shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_BasicAndDilutedEarningsLossesPerAds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of Basic and diluted earnings (losses) per ADS from continuing operations. Each ADS equals two shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_BasicAndDilutedEarningsLossesPerAdsFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ContinuingAndDiscontinuedOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ContinuingAndDiscontinuedOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DiscontinuedOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DiscontinuedOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The (loss) income before equity in earnings of non-consolidated companies and income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810572832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statement of Changes In Equity (Parentheticals) - $ / shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesAuthorised', window );">Authorized share capital (in shares)</a></td>
<td class="nump">2,500,000,000<span></span>
</td>
<td class="nump">2,500,000,000<span></span>
</td>
<td class="nump">2,500,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Nominal value (in dollars per share)</a></td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssued', window );">Shares issued (in shares)</a></td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesAuthorised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares authorised.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_79_a_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesAuthorised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790262400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 25 - Contingencies, Commitments and Restrictions On the Distribution of Profits<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory', window );">Disclosure of commitments and contingent liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 2.75pt"></td> <td style="width: 36pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">25</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Contingencies, commitments and restrictions on the distribution of profits</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 28.35pt; font-size: 10pt; text-align: justify; text-indent: -28.35pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contingencies </div></div></div> <div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris is from time to time subject to various claims, lawsuits and other legal proceedings, including customer, employee, tax and environmental-related claims, in which <div style="display: inline; font-style: italic; font: inherit;">third</div> parties are seeking payment for alleged damages, reimbursement for losses, or indemnity. Management with the assistance of legal counsel periodically reviews the status of each significant matter and assesses potential financial exposure.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Some of these claims, lawsuits and other legal proceedings involve highly complex issues, and often these issues are subject to substantial uncertainties and, therefore, the probability of loss and an estimation of damages are difficult to ascertain. Accordingly, with respect to a large portion of such claims, lawsuits and other legal proceedings, Tenaris is unable to make a reliable estimate of the expected financial effect that will result from ultimate resolution of the proceeding. In those cases, Tenaris has <div style="display: inline; font-style: italic; font: inherit;">not</div> accrued a provision for the potential outcome of these cases.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If a potential loss from a claim, lawsuit or other proceeding is considered probable and the amount can be reasonably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements and take into consideration litigation and settlement strategies. In a limited number of ongoing cases, Tenaris was able to make a reliable estimate of the expected loss or range of probable loss and has accrued a provision for such loss but believes that publication of this information on a case-by-case basis would seriously prejudice Tenaris&#x2019;s position in the ongoing legal proceedings or in any related settlement discussions. Accordingly, in these cases, the Company has disclosed information with respect to the nature of the contingency but has <div style="display: inline; font-style: italic; font: inherit;">not</div> disclosed its estimate of the range of potential loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company believes that the aggregate provisions recorded for potential losses in these Consolidated Financial Statements are adequate based upon currently available information. However, if management&#x2019;s estimates prove incorrect, current reserves could be inadequate and Tenaris could incur a charge to earnings which could have a material adverse effect on Tenaris&#x2019;s results of operations, financial condition, net worth and cash flows.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Below is a summary description of Tenaris&#x2019;s material legal proceedings which are outstanding as of the date of these Consolidated Financial Statements. In addition, Tenaris is subject to other legal proceedings, <div style="display: inline; font-style: italic; font: inherit;">none</div> of which is believed to be material.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 16.8pt"></td> <td style="width: 14.7pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">CSN claims relating to the <div style="display: inline; font-style: italic; font: inherit;"> January 2012 </div>acquisition of Usiminas shares</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Confab Industrial S.A. (&#x201c;Confab&#x201d;), a Brazilian subsidiary of the Company, is <div style="display: inline; font-style: italic; font: inherit;">one</div> of the defendants in a lawsuit filed in Brazil by Companhia Sider&uacute;rgica Nacional (&#x201c;CSN&#x201d;) and various entities affiliated with CSN against Confab and several Ternium subsidiaries that acquired a participation in Usiminas&#x2019; control group in <div style="display: inline; font-style: italic; font: inherit;"> January 2012.</div></div> <div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The CSN lawsuit alleges that, under applicable Brazilian laws and rules, the acquirers were required to launch a tag-along tender offer to all non-controlling holders of Usiminas&#x2019; ordinary shares for a price per share equal to <div style="display: inline; font-style: italic; font: inherit;">80%</div> of the price per share paid in such acquisition, or <div style="display: inline; font-style: italic; font: inherit;">BRL28.8,</div> and seeks an order to compel the acquirers to launch an offer at that price plus interest. If so ordered, the offer would need to be made to <div style="display: inline; font-style: italic; font: inherit;">182,609,851</div> ordinary shares of Usiminas <div style="display: inline; font-style: italic; font: inherit;">not</div> belonging to Usiminas&#x2019; control group, and Confab would have a <div style="display: inline; font-style: italic; font: inherit;">17.9%</div> share in that offer.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 154 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"></div></div></div> <table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 16.8pt"></td> <td style="width: 14.7pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">CSN claims relating to the <div style="display: inline; font-style: italic; font: inherit;"> January 2012 </div>acquisition of Usiminas shares (Cont.)</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> September 23, 2013, </div>the <div style="display: inline; font-style: italic; font: inherit;">first</div> instance court dismissed the CSN lawsuit, and on <div style="display: inline; font-style: italic; font: inherit;"> February 8, 2017, </div>the court of appeals maintained the understanding of the <div style="display: inline; font-style: italic; font: inherit;">first</div> instance court. On <div style="display: inline; font-style: italic; font: inherit;"> March 6, 2017, </div>CSN filed a motion for clarification against the decision of the Court of Appeals of S&atilde;o Paulo, which was rejected on <div style="display: inline; font-style: italic; font: inherit;"> July 19, 2017. </div>On <div style="display: inline; font-style: italic; font: inherit;"> August 18, 2017, </div>CSN filed an appeal to the Superior Court of Justice seeking the review and reversal of the decision issued by the Court of Appeals. On <div style="display: inline; font-style: italic; font: inherit;"> March 5, 2018, </div>the court of appeals ruled that CSN&#x2019;s appeal did <div style="display: inline; font-style: italic; font: inherit;">not</div> meet the requirements for submission to the Superior Court of Justice and rejected the appeal. On <div style="display: inline; font-style: italic; font: inherit;"> May 8, 2018, </div>CSN appealed against such ruling and on <div style="display: inline; font-style: italic; font: inherit;"> January 22, 2019, </div>the court of appeals rejected it and ordered that the case be submitted to the Superior Court of Justice. On <div style="display: inline; font-style: italic; font: inherit;"> September 10, 2019, </div>the Superior Court of Justice declared CSN&#x2019;s appeal admissible. The Superior Court of Justice will review the case and then render a decision on the merits. The Superior Court of Justice is restricted to the analysis of alleged violations to federal laws and cannot assess matters of fact.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 78.5pt">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Tenaris continues to believe that all of CSN&#x2019;s claims and allegations are groundless and without merit, as confirmed by several opinions of Brazilian legal counsel, <div style="display: inline; font-style: italic; font: inherit;">two</div> decisions issued by the Brazilian securities regulator (CVM) in <div style="display: inline; font-style: italic; font: inherit;"> February 2012 </div>and <div style="display: inline; font-style: italic; font: inherit;"> December 2016, </div>and the <div style="display: inline; font-style: italic; font: inherit;">first</div> and <div style="display: inline; font-style: italic; font: inherit;">second</div> instance court decisions referred to above.</div> <div style=" margin: 0pt 0 0pt 21.55pt; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 16.8pt"></td> <td style="width: 14.7pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Veracel celulose accident litigation</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 21.55pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> September 21, 2007, </div>an accident occurred in the premises of Veracel Celulose S.A. (&#x201c;Veracel&#x201d;) in connection with a rupture in <div style="display: inline; font-style: italic; font: inherit;">one</div> of the tanks used in an evaporation system manufactured by Confab. The Veracel accident allegedly resulted in material damages to Veracel.&nbsp;Ita&uacute; Seguros S.A. (&#x201c;Ita&uacute;&#x201d;), Veracel&#x2019;s insurer at the time of the Veracel accident and then replaced by Chubb Seguros Brasil S/A (&#x201c;Chubb&#x201d;), initiated a lawsuit against Confab seeking reimbursement of damages paid to Veracel in connection with the Veracel accident. Veracel initiated a <div style="display: inline; font-style: italic; font: inherit;">second</div> lawsuit against Confab seeking reimbursement of the amount paid as insurance deductible with respect to the Veracel accident and other amounts <div style="display: inline; font-style: italic; font: inherit;">not</div> covered by insurance. Ita&uacute; and Veracel claimed that the Veracel accident was caused by failures and defects attributable to the evaporation system manufactured by Confab. Confab believes that the Veracel accident was caused by the improper handling by Veracel&#x2019;s personnel of the equipment supplied by Confab in violation of Confab&#x2019;s instructions. The <div style="display: inline; font-style: italic; font: inherit;">two</div> lawsuits were consolidated and are considered by the <div style="display: inline; font-style: italic; font: inherit;">6th</div> Civil Court of S&atilde;o Caetano do Sul; however, each lawsuit will be adjudicated separately.</div> <div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> September 28, 2018 </div>Confab and Chubb, entered into a settlement agreement pursuant to which on <div style="display: inline; font-style: italic; font: inherit;"> October 9, 2018, </div>Confab paid an amount of approximately <div style="display: inline; font-style: italic; font: inherit;">$3.5</div> million to Chubb, without assuming any liability for the accident or the claim.</div> <div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> October 10, 2018, </div>Confab was notified that the court had issued rulings for both lawsuits. Both decisions were unfavorable to Confab:</div> <div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 27pt"></td> <td style="width: 18pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">With respect to Chubb&#x2019;s claim, Confab was ordered to pay an amount of approximately <div style="display: inline; font-style: italic; font: inherit;">BRL89.8</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$21.6</div> million) (including interest, fees and expenses). On <div style="display: inline; font-style: italic; font: inherit;"> October 15, 2018, </div>Confab filed a request for homologation of the settlement agreement mentioned above, as such settlement agreement remains valid and binding between the parties. On <div style="display: inline; font-style: italic; font: inherit;"> November 8, 2018, </div>the settlement agreement was homologated by the court.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 45.1pt; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 27pt"></td> <td style="width: 18pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">With respect to Veracel&#x2019;s claim, Confab was ordered to pay the insurance deductible and other concepts <div style="display: inline; font-style: italic; font: inherit;">not</div> covered by insurance, currently estimated to amount to <div style="display: inline; font-style: italic; font: inherit;">BRL62.9</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$15.6</div> million) (including interest, fees and expenses). Both parties filed motions for clarification against the court&#x2019;s decision, which were partially granted. Although the contract between Confab and Veracel expressly provided that Confab would <div style="display: inline; font-style: italic; font: inherit;">not</div> be liable for damages arising from lost profits, the court award would appear to include <div style="display: inline; font-style: italic; font: inherit;">BRL54.0</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$13.4</div> million) of damages arising therefrom; Confab has additional defense arguments in respect of a claim for lost profits. On <div style="display: inline; font-style: italic; font: inherit;"> December 18, 2018, </div>Confab filed an appeal against the <div style="display: inline; font-style: italic; font: inherit;">first</div> instance court decision, and on <div style="display: inline; font-style: italic; font: inherit;"> April 30, 2019, </div>Veracel filed its response to the appeal. At this stage the Company cannot predict the outcome of the claim or the amount or range of loss in case of an unfavorable outcome.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <!-- Field: Page; Sequence: 155 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"></div></div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-family: Wingdings">&sect;<div style="display: inline; font-size: 10pt"> </div></div><div style="display: inline; font-style: italic;">Ongoing investigation </div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The Company is aware that Brazilian, Italian and Swiss authorities have been investigating whether certain payments were made from accounts of entities presumably associated with affiliates of the Company to accounts allegedly linked to individuals related to Petr&oacute;leo Brasileiro S.A. (&#x201c;Petrobras&#x201d;) and whether any such payments were intended to benefit the Company&#x2019;s Brazilian subsidiary Confab. Any such payments could violate certain applicable laws, including the U.S. Foreign Corrupt Practices Act.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The Company had previously reviewed certain of these matters in connection with an investigation by the Brazilian authorities related to &#x201c;Operation Lava Jato&#x201d;, a new phase of which is presently ongoing, and did <div style="display: inline; font-style: italic; font: inherit;">not</div> uncover any information that corroborated allegations of involvement in these alleged payments by the Company or its subsidiaries. Furthermore, the Company became aware that a Petrobras internal investigation commission reviewed certain contracts with Confab and concluded that they had <div style="display: inline; font-style: italic; font: inherit;">not</div> found evidence that Petrobras had benefitted Confab or had misused applicable local content rules.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The Audit Committee of the Company's Board of Directors engaged external counsel in connection with the Company&#x2019;s review. In addition, the Company voluntarily notified the U.S. Securities and Exchange Commission and the U.S. Department of Justice in <div style="display: inline; font-style: italic; font: inherit;"> October 2016.</div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;"> July 2019, </div>the Company learned that the public prosecutor office of Milan, Italy, had completed a preliminary investigation into the alleged payments and had included in the investigation, among other persons, the Company&#x2019;s Chairman and Chief Executive Officer, <div style="display: inline; font-style: italic; font: inherit;">two</div> other board members, Gianfelice Rocca and Roberto Bonatti, and the Company&#x2019;s controlling shareholder, San Faustin. In <div style="display: inline; font-style: italic; font: inherit;"> February 2020, </div>the Company learned that the magistrate overseeing the investigation decided to move the case to trial. The Company&#x2019;s outside counsel had previously reviewed the Italian prosecutors&#x2019; investigative file and has informed the Board that neither that file nor this magistrate&#x2019;s decision sets forth evidence of involvement by any of the <div style="display: inline; font-style: italic; font: inherit;">three</div> directors in the alleged wrongdoing. Accordingly, the Board has concluded that <div style="display: inline; font-style: italic; font: inherit;">no</div> particular action is warranted at the present time, other than inviting the referred board members to continue discharging their respective responsibilities with the full support of the Board.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The Company continues to review these matters and to respond to requests from and otherwise cooperate with the appropriate authorities. At this time, the Company cannot predict the outcome of these matters or estimate the range of potential loss or extent of risk, if any, to the Company's business that <div style="display: inline; font-style: italic; font: inherit;"> may </div>result from resolution of these matters.</div> <div style=" margin: 0pt 0 0pt 0.3in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-family: Wingdings">&sect; </div><div style="display: inline; font-style: italic;">Putative class actions</div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Following the Company&#x2019;s <div style="display: inline; font-style: italic; font: inherit;"> November 27, 2018 </div>announcement that its Chairman and CEO Paolo Rocca had been included in an Argentine court investigation known as the Notebooks Case (a decision subsequently reversed by a higher court), <div style="display: inline; font-style: italic; font: inherit;">two</div> putative class action complaints were filed in the U.S. District Court for the Eastern District of New York. On <div style="display: inline; font-style: italic; font: inherit;"> April 29, 2019, </div>the court consolidated the complaints into a single case, captioned &#x201c;In re Tenaris S.A. Securities Litigation&#x201d;, and appointed lead plaintiffs and lead counsel. On <div style="display: inline; font-style: italic; font: inherit;"> July 19, 2019, </div>the lead plaintiffs filed an amended complaint purportedly on behalf of purchasers of Tenaris securities during the putative class period of <div style="display: inline; font-style: italic; font: inherit;"> May 1, 2014 </div>through <div style="display: inline; font-style: italic; font: inherit;"> December 5, 2018. </div>The individual defendants named in the complaint are Tenaris&#x2019;s Chairman and CEO and Tenaris&#x2019;s former CFO. The complaint alleges that during the class period, the Company and the individual defendants inflated the Tenaris share price by failing to disclose that sale proceeds received by Ternium (in which Tenaris held an <div style="display: inline; font-style: italic; font: inherit;">11.46%</div> stake) when Sidor was expropriated by Venezuela were received or expedited as a result of allegedly improper payments made to Argentine officials. The complaint does <div style="display: inline; font-style: italic; font: inherit;">not</div> specify the damages that plaintiff is seeking. Defendants&#x2019; motions to dismiss are expected to be decided during <div style="display: inline; font-style: italic; font: inherit;">2020.</div> Management believes the Company has meritorious defenses to these claims; however, at this stage the Company cannot predict the outcome of the claim or the amount or range of loss in case of an unfavorable outcome.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-family: Wingdings">&sect;<div style="display: inline; font-size: 10pt"> </div></div><div style="display: inline; font-style: italic;">Investigation concerning alleged price overcharges in Brazil</div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;">2018,</div> <div style="display: inline; font-style: italic; font: inherit;">two</div> Brazilian subsidiaries of the Company were notified of formal charges arising from a review by the Tribunal de Contas da Uniao (&#x201c;TCU&#x201d;) for alleged price overcharges on goods supplied to Petr&oacute;leo Brasileiro S.A- Petrobras under a supply contract. Both companies have already filed their defenses. The estimated amount of this <div style="display: inline; background-color: white">claim is <div style="display: inline; font-style: italic; font: inherit;">BRL29.8</div> million</div> (approximately <div style="display: inline; font-style: italic; font: inherit;">$7.4</div> million). Tenaris believes, based on the advice of counsel and external consultants, that the prices charged under the Petrobras contract do <div style="display: inline; font-style: italic; font: inherit;">not</div> result in overprices and that it is unlikely that the ultimate resolution of this matter will result in a material obligation.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <!-- Field: Page; Sequence: 156 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-family: Wingdings">&sect; </div><div style="display: inline; font-style: italic;">Administrative proceeding concerning Brazilian tax credits</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Confab is a party to an administrative proceeding concerning the recognition and transfer of tax credits for an amount allegedly exceeding the amount that Confab would have been entitled to recognize and/or transfer. The proceeding resulted in the imposition of a fine against Confab representing approximately <div style="display: inline; font-style: italic; font: inherit;">75%</div> of the allegedly undue credits, which was appealed by Confab. On <div style="display: inline; font-style: italic; font: inherit;"> January 21, 2019, </div>Confab was notified of an administrative decision denying Confab&#x2019;s appeal, thereby upholding the tax determination and the fine against Confab. On <div style="display: inline; font-style: italic; font: inherit;"> January 28, 2019, </div>Confab challenged such administrative decision and is currently awaiting a resolution. In case of an unfavorable resolution, Confab <div style="display: inline; font-style: italic; font: inherit;"> may </div>still appeal before the courts. The estimated amount of this claim is <div style="display: inline; font-style: italic; font: inherit;">BRL56.8</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$14.1</div>&nbsp;million). At this stage, the Company cannot predict the outcome of this claim.</div> <div style=" margin: 0pt 0 0pt 40.5pt; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-family: Wingdings">&sect;<div style="display: inline; font-size: 10pt"> </div></div><div style="display: inline; font-style: italic;">U.S. Patent infringement litigation</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Tenaris Coiled Tubes, LLC (&#x201c;TCT&#x201d;), a U.S. subsidiary of the Company, was sued on <div style="display: inline; font-style: italic; font: inherit;">2017</div> by its competitor Global Tubing, alleging violations to certain intellectual property regulations and seeking a declaration that certain Global Tubing products do <div style="display: inline; font-style: italic; font: inherit;">not</div> infringe patents held by TCT. TCT filed a counterclaim seeking declaration that certain <div style="display: inline; font-style: italic;">Global</div> Tubing products infringe patents held by TCT, and Global Tubing responded alleging that such patents should be invalidated. On <div style="display: inline; font-style: italic; font: inherit;"> December 13, 2019, </div>Global Tubing filed an amended complaint (including the Company as defendant) and alleging that TCT and the Company misled the patent office in order to monopolize the coiled tubing market for quench and tempered products. Trial is set for <div style="display: inline; font-style: italic; font: inherit;"> August </div>of <div style="display: inline; font-style: italic; font: inherit;">2021.</div> At this time, the Company cannot predict the outcome of this matter or estimate the range of potential losses that <div style="display: inline; font-style: italic; font: inherit;"> may </div>result from resolution of this claim.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-family: Wingdings">&sect; </div><div style="display: inline; font-style: italic;">Tax assessment from Italian Tax Authorities</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">Tenaris&#x2019;s Italian subsidiary Dalmine received on <div style="display: inline; font-style: italic; font: inherit;"> December 27, 2019, </div>a tax assessment from the Italian tax authorities related to fiscal year <div style="display: inline; font-style: italic; font: inherit;">2014.</div> As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the claim amounted to approximately <div style="display: inline; font-style: italic; font: inherit;">EUR25</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$28</div> million), comprising <div style="display: inline; font-style: italic; font: inherit;">EUR20.7</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$23.2</div> million) in principal and <div style="display: inline; font-style: italic; font: inherit;">EUR4.3</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$4.8</div> million) in interest and penalties. In the report for a tax audit conducted in <div style="display: inline; font-style: italic; font: inherit;">2019,</div> the Italian tax inspectors indicated that they also intend to bring claims for fiscal year <div style="display: inline; font-style: italic; font: inherit;">2015</div> with respect to the same matters; as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>these additional claims would amount to approximately <div style="display: inline; font-style: italic; font: inherit;">EUR10.3</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$11.6</div> million), comprising <div style="display: inline; font-style: italic; font: inherit;">EUR8.1</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$9.1</div> million) in principal and <div style="display: inline; font-style: italic; font: inherit;">EUR2.2</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$2.5</div> million) in interest and penalties. The claims mainly refer to the compensation for certain intercompany transactions involving Dalmine in connection with sales of products and R&amp;D activities. Based on the counsel&#x2019;s advice, Tenaris believes that it is unlikely that the ultimate resolution of these matters will result in a material obligation.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 40.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">(ii)</div></div></td> <td><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Commitments and guarantees</div></div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt">Set forth is a description of Tenaris&#x2019;s main outstanding commitments:</div> <div style=" margin: 0pt 0 0pt 0.3in; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">A Tenaris company entered into a contract with Transportadora de Gas del Norte S.A. for the service of natural gas transportation to the facilities of Siderca, an Argentine subsidiary of Tenaris. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the aggregate commitment to take or pay the committed volumes for a <div style="display: inline; font-style: italic; font: inherit;">9</div>-year term totaled approximately <div style="display: inline; font-style: italic; font: inherit;">$27.4</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 17.85pt; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Several Tenaris companies entered into a contract with Praxair S.A. for the service of oxygen and nitrogen supply. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the aggregate commitment to take or pay the committed volumes for a <div style="display: inline; font-style: italic; font: inherit;">14</div>-year term totalled approximately <div style="display: inline; font-style: italic; font: inherit;">$53.7</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-indent: -13.5pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td>Several Tenaris companies entered into a contract with Graftech for the supply of graphite electrodes. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the aggregate commitment to take or pay the committed volumes totalled approximately <div style="display: inline; font-style: italic; font: inherit;">$26.8</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <!-- Field: Page; Sequence: 157 -->   <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">A Tenaris company entered into a <div style="display: inline; font-style: italic; font: inherit;">25</div>-year contract (effective as of <div style="display: inline; font-style: italic; font: inherit;"> December 1, 2016, </div>through <div style="display: inline; font-style: italic; font: inherit;"> December 1, 2041) </div>with Techgen for the supply of <div style="display: inline; font-style: italic; font: inherit;">197</div> MW (which represents <div style="display: inline; font-style: italic; font: inherit;">22%</div> of Techgen&#x2019;s capacity). Monthly payments are determined on the basis of capacity charges, operation costs, back-up power charges, and transmission charges. As of the <div style="display: inline; font-style: italic; font: inherit;">seventh</div> contract year (as long as Techgen&#x2019;s existing or replacing bank facility has been repaid in full), the Tenaris company has the right to suspend or early terminate the contract if the rate payable under the agreement is higher than the rate charged by the Comisi&oacute;n Federal de Electricidad (&#x201c;CFE&#x201d;) or its successors. The Tenaris company <div style="display: inline; font-style: italic; font: inherit;"> may </div>instruct Techgen to sell to any affiliate, to CFE, or to any other <div style="display: inline; font-style: italic; font: inherit;">third</div> party all or any part of unused contracted energy under the agreement and the Tenaris company will benefit from the proceeds of such sale.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">A Tenaris company entered into a contract with Vale International S.A. for the supply of iron ore, for which it is committed to purchase at least <div style="display: inline; font-style: italic; font: inherit;">70%</div> of its annual iron ore needs, up to <div style="display: inline; font-style: italic; font: inherit;">770</div> thousand tons of pellets annually. The contract expires on <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020. </div>The aggregate commitment amounts to approximately <div style="display: inline; font-style: italic; font: inherit;">$33.6</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">A Tenaris company entered into a contract with Canadian National Railway for the service of rail transportation from its raw material supplier to its Canadian production center.&nbsp;The total commitment ending <div style="display: inline; font-style: italic; font: inherit;"> June 30, 2020 </div>is <div style="display: inline; font-style: italic; font: inherit;">$18.9</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">A Tenaris company entered into a contract with Air Liquide Mexico, S. de R.L de C.V. for the supply of argon gas. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the aggregate commitment totaled approximately <div style="display: inline; font-style: italic; font: inherit;">$21.2</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">A Tenaris company is a party to a contract with Nucor Steel Memphis Inc. under which it is committed to purchase on a monthly basis a minimum volume of steel bars at prices that will be adjusted quarterly by the parties. The contract will become effective in <div style="display: inline; font-style: italic; font: inherit;"> January 2020 </div>and will be in force until <div style="display: inline; font-style: italic; font: inherit;"> December 2022. </div>As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the estimated aggregate contract amount through <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022, </div>calculated at current prices, is approximately <div style="display: inline; font-style: italic; font: inherit;">$107.1</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">Additionally Tenaris has issued performance guarantees mainly related to long term commercial contracts with several customers and parent companies guarantees for approximately <div style="display: inline; font-style: italic; font: inherit;">$2.5</div> billion.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; color: black">Restrictions to the distribution of profits and payment of dividends</div></div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In accordance with Luxembourg Law, the Company is required to transfer a minimum of <div style="display: inline; font-style: italic; font: inherit;">5%</div> of its net profit for each financial year to a legal reserve until such reserve equals <div style="display: inline; font-style: italic; font: inherit;">10%</div> of the issued share capital.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>this reserve is fully allocated and additional allocations to the reserve are <div style="display: inline; font-style: italic; font: inherit;">not</div> required under Luxembourg law. Dividends <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be paid out of the legal reserve.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company <div style="display: inline; font-style: italic; font: inherit;"> may </div>pay dividends to the extent, among other conditions, that it has distributable retained earnings calculated in accordance with Luxembourg law and regulations.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of commitments and contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R122.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6793505936">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 18 - Cash and Cash Equivalents and Other Investments - Components of Cash and Cash Equivalents and Other Investments (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsAbstract', window );"><strong>Cash and cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BalancesWithBanks', window );">Cash at banks</a></td>
<td class="nump">$ 118,314<span></span>
</td>
<td class="nump">$ 81,211<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents', window );">Liquidity funds</a></td>
<td class="nump">1,166,697<span></span>
</td>
<td class="nump">160,198<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Short &#8211; term investments</a></td>
<td class="nump">269,288<span></span>
</td>
<td class="nump">186,952<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Total cash and cash equivalents</a></td>
<td class="nump">1,554,299<span></span>
</td>
<td class="nump">428,361<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherInvestmentsCurrentAbstract', window );"><strong>Other investments - current:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="nump">210,376<span></span>
</td>
<td class="nump">487,734<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherInvestmentsNoncurrentAbstract', window );"><strong>Other investments - Non-current:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="nump">24,934<span></span>
</td>
<td class="nump">118,155<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember', window );">Fixed Income (time-deposit, zero coupon bonds, commercial papers) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherInvestmentsCurrentAbstract', window );"><strong>Other investments - current:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="nump">65,874<span></span>
</td>
<td class="nump">300,410<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_BondsAndOtherFixedIncomeMember', window );">Bonds and other fixed income [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherInvestmentsCurrentAbstract', window );"><strong>Other investments - current:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="nump">144,502<span></span>
</td>
<td class="nump">187,324<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherInvestmentsNoncurrentAbstract', window );"><strong>Other investments - Non-current:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="nump">18,012<span></span>
</td>
<td class="nump">113,829<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_OtherInvestments1Member', window );">Other investments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherInvestmentsNoncurrentAbstract', window );"><strong>Other investments - Non-current:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="nump">$ 6,922<span></span>
</td>
<td class="nump">$ 4,326<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BalancesWithBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash balances held at banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BalancesWithBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current investments other than investments accounted for using the equity method. [Refer: Investments accounted for using equity method; Non-current assets; Investments other than investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term deposits. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term investments. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherInvestmentsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherInvestmentsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherInvestmentsNoncurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherInvestmentsNoncurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_BondsAndOtherFixedIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_BondsAndOtherFixedIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_OtherInvestments1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_OtherInvestments1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>26
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804037488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Other Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherLiabilitiesExplanatory', window );">Disclosure of other liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">21</div></div></td> <td><div style="display: inline; font-weight: bold;">Other liabilities</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;">(i)</div></td> <td><div style="display: inline; font-weight: bold;">Other liabilities &#x2013; Non current</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Post-employment benefits</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,993</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115,087</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other-long term benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">85,473</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">78,492</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Miscellaneous</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,917</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,550</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">251,383</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">213,129</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Post-employment benefits</div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Unfunded</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">125,573</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">97,318</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Funded</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,420</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,769</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,993</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115,087</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 18pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td><div style="display: inline; font-weight: bold;">Unfunded</div></td> </tr>  </table> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">97,318</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">101,889</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,567</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,849</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Current service cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,978</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,400</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,526</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,070</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Remeasurements (*)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,010</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,946</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,660</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Benefits paid from the plan</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,328</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,719</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,976</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">473</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">125,573</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">97,318</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0 0pt 4.5pt; font-size: 10pt; text-align: justify">(*) For <div style="display: inline; font-style: italic; font: inherit;">2019</div> a loss of <div style="display: inline; font-style: italic; font: inherit;">$1.3</div> million is attributable to demographic assumptions and a loss of <div style="display: inline; font-style: italic; font: inherit;">$5.7</div> million to financial assumptions. For <div style="display: inline; font-style: italic; font: inherit;">2018</div> a gain of <div style="display: inline; font-style: italic; font: inherit;">$0.2</div> million is attributable to demographic assumptions and a gain of <div style="display: inline; font-style: italic; font: inherit;">$3.7</div> million to financial assumptions.</div> <div style=" margin: 0pt 0 0pt 4.5pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The actuarial assumptions for the most relevant plans were as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td colspan="5" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Year ended December 31,</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Discount rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">1%</div> - <div style="display: inline; font-style: italic; font: inherit;">7%</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">2%</div> - <div style="display: inline; font-style: italic; font: inherit;">7%</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Rate of compensation increase</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">0%</div> - <div style="display: inline; font-style: italic; font: inherit;">3%</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">0%</div> - <div style="display: inline; font-style: italic; font: inherit;">3%</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>an increase / (decrease) of <div style="display: inline; font-style: italic; font: inherit;">1%</div> in the discount rate assumption of the main plans would have generated a (decrease) / increase on the defined benefit obligation of <div style="display: inline; font-style: italic; font: inherit;">$7.4</div> million and <div style="display: inline; font-style: italic; font: inherit;">$7</div> million respectively, and an increase / (decrease) of <div style="display: inline; font-style: italic; font: inherit;">1%</div> in the rate of compensation assumption of the main plans would have generated an increase / (decrease) impact on the defined benefit obligation of <div style="display: inline; font-style: italic; font: inherit;">$4.5</div> million and <div style="display: inline; font-style: italic; font: inherit;">$4.5</div> million respectively. The above sensitivity analyses are based on a change in discount rate and rate of compensation while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions <div style="display: inline; font-style: italic; font: inherit;"> may </div>be correlated.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 4.5pt"></td> <td style="width: 18pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td><div style="display: inline; font-weight: bold;">Funded</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">The amounts recognized in the statement of financial position for the current annual period and the previous annual period are as follows:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Present value of funded obligations</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,412</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">146,885</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Fair value of plan assets</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(145,160</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(132,438</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Liability (*)</div></div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,252</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,447</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">(*) In <div style="display: inline; font-style: italic; font: inherit;">2019</div> and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> <div style="display: inline; font-style: italic; font: inherit;">$4.2</div> million and <div style="display: inline; font-style: italic; font: inherit;">$3.3</div> million corresponding to a plan with a surplus balance were reclassified within other non-current assets, respectively. </div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <!-- Field: Page; Sequence: 150 -->    <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">The movement in the present value of funded obligations is as follows:</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">146,885</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">165,485</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,542</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(8,182</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Current service cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">721</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,328</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,754</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,691</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Remeasurements (*)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,769</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,984</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Benefits paid</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,259</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,453</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,412</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">146,885</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(*) For <div style="display: inline; font-style: italic; font: inherit;">2019</div> a loss of <div style="display: inline; font-style: italic; font: inherit;">$0.4</div> million is attributable to demographic assumptions and a loss of <div style="display: inline; font-style: italic; font: inherit;">$12.4</div> million to financial assumptions. For <div style="display: inline; font-style: italic; font: inherit;">2018</div> a loss of <div style="display: inline; font-style: italic; font: inherit;">$0.4</div> million is attributable to demographic assumptions and a gain of <div style="display: inline; font-style: italic; font: inherit;">$8.4</div> million to financial assumptions. respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The movement in the fair value of plan assets is as follows:</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(132,438</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(145,692</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,137</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,514</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Return on plan assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,018</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,936</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Remeasurements</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,507</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,967</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Contributions paid to the plan</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,589</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,108</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Benefits paid from the plan</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,259</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,453</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">270</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">364</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(145,160</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(132,438</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The major categories of plan assets as a percentage of total plan assets are as follows:</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Equity instruments</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Debt instruments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The actuarial assumptions for the most relevant plans were as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Year ended December 31,</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Discount rate</td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">3 % - 4 %</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">4 % - 5 %</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Rate of compensation increase</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">0 % - 3 %</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">0 % - 3 %</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The expected return on plan assets is determined by considering the expected returns available on the assets underlying the current investment policy. Expected return on plan assets is determined based on long-term, prospective rates of return as of the end of the reporting period.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>an increase / (decrease) of <div style="display: inline; font-style: italic; font: inherit;">1%</div> in the discount rate assumption of the main plans would have generated a (decrease) / increase on the defined benefit obligation of <div style="display: inline; font-style: italic; font: inherit;">$16.1</div> million and <div style="display: inline; font-style: italic; font: inherit;">$19.8</div> million respectively, and an increase / (decrease) of <div style="display: inline; font-style: italic; font: inherit;">1%</div> in the compensation rate assumption of the main plans would have generated an increase / (decrease) on the defined benefit obligation of <div style="display: inline; font-style: italic; font: inherit;">$1.8</div> million and <div style="display: inline; font-style: italic; font: inherit;">$1.6</div> million respectively. The above sensitivity analyses are based on a change in discount rate and rate of compensation while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions <div style="display: inline; font-style: italic; font: inherit;"> may </div>be correlated.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The employer contributions expected to be paid for the year <div style="display: inline; font-style: italic; font: inherit;">2020</div> amount approximately to <div style="display: inline; font-style: italic; font: inherit;">$5.1</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The methods and types of assumptions used in preparing the sensitivity analysis did <div style="display: inline; font-style: italic; font: inherit;">not</div> change compared to the previous period.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <!-- Field: Page; Sequence: 151 -->   <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;">(ii)</div></td> <td><div style="display: inline; font-weight: bold;">Other liabilities &#x2013; current</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Payroll and social security payable</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">153,009</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">148,069</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Miscellaneous</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,255</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,624</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">176,264</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">165,693</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherLiabilitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other liabilities. [Refer: Other liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherLiabilitiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R126.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790817840">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 19 - Borrowings - Weighted Average Interest Rates of Borrowings (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Total borrowings, weighted average interest rates</a></td>
<td class="nump">3.18%<span></span>
</td>
<td class="nump">3.98%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>29
<FILENAME>R147.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6820448560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 25 - Contingencies, Commitments and Restrictions On the Distribution of Profits (Details Textual)<br> R$ / shares in Units, t in Thousands, &#8364; in Millions, R$ in Millions, $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1">48 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2"></th>
</tr>
<tr>
<th class="th">
<div>Oct. 09, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 01, 2013 </div>
<div>R$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($) </div>
<div>t</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($) </div>
<div>t</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>EUR (&#8364;) </div>
<div>t</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>BRL (R$) </div>
<div>t</div>
</th>
<th class="th">
<div>Oct. 10, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 10, 2018 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PerformanceGuaranteesIssued', window );">Performance Guarantees Issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,500.0<span></span>
</td>
<td class="nump">$ 2,500.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TechgenSAMember', window );">Techgen s.a. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TermOfSupplyContract', window );">Term of supply contract (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">25 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ProportionOfCorporateGuaranteeCoveringObligations', window );">Proportion of corporate guarantee covering obligations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_ConfabMember', window );">Confab [member] | Chubb [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PaymentsForSettlement', window );">Payments for settlement</a></td>
<td class="nump">$ 3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SettlementAmountOrderedToPay', window );">Settlement, amount ordered to pay</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21.6<span></span>
</td>
<td class="nump">R$ 89.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_ConfabMember', window );">Confab [member] | Veracel Celulose S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SettlementAmountOrderedToPayInsuranceDeductible', window );">Settlement, amount ordered to pay, insurance deductible</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15.6<span></span>
</td>
<td class="nump">$ 15.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 62.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SettlementAmountOrderedToPayDamages', window );">Settlement, amount ordered to pay, damages</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13.4<span></span>
</td>
<td class="nump">13.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ts_TribunalDeContasDaUniaoMember', window );">Tribunal de Contas da Uniao [member] | Legal proceedings contingent liability [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7.4<span></span>
</td>
<td class="nump">7.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 29.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ts_TransportadoraDeGasDelNorteSaMember', window );">Transportadora de Gas del Norte S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TermOfSupplyContract', window );">Term of supply contract (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">9 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PurchaseCommitments', window );">Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 27.4<span></span>
</td>
<td class="nump">27.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ts_PraxairSAMember', window );">Praxair S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TermOfSupplyContract', window );">Term of supply contract (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">14 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PurchaseCommitments', window );">Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 53.7<span></span>
</td>
<td class="nump">53.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ts_GraftechMember', window );">Graftech [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PurchaseCommitments', window );">Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">26.8<span></span>
</td>
<td class="nump">26.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ts_ValeInternationalSAMember', window );">Vale International S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PurchaseCommitments', window );">Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 33.6<span></span>
</td>
<td class="nump">$ 33.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PercentOfAnnualIronOreNeedsSupplied', window );">Percent of annual iron ore needs supplied</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70.00%<span></span>
</td>
<td class="nump">70.00%<span></span>
</td>
<td class="nump">70.00%<span></span>
</td>
<td class="nump">70.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually', window );">Maximum number of tons of pellets supplied annually (Metric Ton) | t</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">770<span></span>
</td>
<td class="nump">770<span></span>
</td>
<td class="nump">770<span></span>
</td>
<td class="nump">770<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ts_CanadianNationalRailwayMember', window );">Canadian National Railway [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PurchaseCommitments', window );">Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18.9<span></span>
</td>
<td class="nump">$ 18.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ts_AirLiquideMexicoSDeRLDeCVMember', window );">Air Liquide Mexico S. de R.L. de C.V. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PurchaseCommitments', window );">Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21.2<span></span>
</td>
<td class="nump">21.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ts_NucorSteelMemphisIncMember', window );">Nucor Steel Memphis Inc. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PurchaseCommitments', window );">Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">107.1<span></span>
</td>
<td class="nump">107.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember', window );">CONFAB INDUSTRIAL S.A. and subsidiaries [member] | Tax contingent liability [member] | BRAZIL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14.1<span></span>
</td>
<td class="nump">$ 14.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 56.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FineImposedPercentageOfAllegedlyUndueCredits', window );">Fine imposed, percentage of allegedly undue credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember', window );">CONFAB INDUSTRIAL S.A. and subsidiaries [member] | Companhia Sider&#250;rgica Nacional [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TagalongTenderOfferToNoncontrollingInterestsPercentage', window );">Tag-along tender offer to non-controlling interests, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TagalongTenderOfferToNoncontrollingInterests', window );">Tag-along tender offer to non-controlling interests (in BRL per share) | R$ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 28.80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TagalongTenderOfferToNoncontrollingInterestsShares', window );">Tag-along tender offer to non-controlling interests, shares (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">182,609,851<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember', window );">CONFAB INDUSTRIAL S.A. and subsidiaries [member] | Companhia Sider&#250;rgica Nacional [member] | Legal proceedings contingent liability [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability', window );">Tag-along tender offer to non-controlling interests, contingent liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember', window );">Ternium S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember', window );">Ternium S.A. [member] | Techgen s.a. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">48.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember', window );">DALMINE S.p.A. [member] | Tax contingent liability related to fiscal year 2014 [member] | ITALY</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28.0<span></span>
</td>
<td class="nump">$ 28.0<span></span>
</td>
<td class="nump">&#8364; 25.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember', window );">DALMINE S.p.A. [member] | Tax contingent liability related to fiscal year 2014, principal [member] | ITALY</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23.2<span></span>
</td>
<td class="nump">23.2<span></span>
</td>
<td class="nump">20.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember', window );">DALMINE S.p.A. [member] | Tax contingent liability related to fiscal year 2014, interest and penalties [member] | ITALY</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.8<span></span>
</td>
<td class="nump">4.8<span></span>
</td>
<td class="nump">4.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember', window );">DALMINE S.p.A. [member] | Tax contingent liability related to fiscal year 2015 [member] | ITALY</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.6<span></span>
</td>
<td class="nump">11.6<span></span>
</td>
<td class="nump">10.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember', window );">DALMINE S.p.A. [member] | Tax contingent liability related to fiscal year 2015, principal [member] | ITALY</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.1<span></span>
</td>
<td class="nump">9.1<span></span>
</td>
<td class="nump">8.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember', window );">DALMINE S.p.A. [member] | Tax contingent liability related to fiscal year 2015, interest and penalties [member] | ITALY</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.5<span></span>
</td>
<td class="nump">$ 2.5<span></span>
</td>
<td class="nump">&#8364; 2.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the estimated financial effect of contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 86<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_86_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EstimatedFinancialEffectOfContingentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_FineImposedPercentageOfAllegedlyUndueCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of fine imposed, expressed as a percentage of the allegedly undue credits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_FineImposedPercentageOfAllegedlyUndueCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of metric tons of pellets supplied annually.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_MaximumNumberOfTonsOfPelletsSuppliedAnnually</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_PaymentsForSettlement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of payments made for settlements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_PaymentsForSettlement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_PercentOfAnnualIronOreNeedsSupplied">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percent of annual iron ore needs that will be supplied.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_PercentOfAnnualIronOreNeedsSupplied</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_PerformanceGuaranteesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of performance guarantees issued as of the specified date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_PerformanceGuaranteesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ProportionOfCorporateGuaranteeCoveringObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the proportion of a corporate guarantee that covers obligations made under a syndicated loan agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ProportionOfCorporateGuaranteeCoveringObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_PurchaseCommitments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount liable for purchase commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_PurchaseCommitments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SettlementAmountOrderedToPay">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability associated with amount ordered to pay in a settlement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SettlementAmountOrderedToPay</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SettlementAmountOrderedToPayDamages">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of settlement ordered to be pay, related to damages.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SettlementAmountOrderedToPayDamages</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SettlementAmountOrderedToPayInsuranceDeductible">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount ordered to pay in a settlement, related to the insurance deductible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SettlementAmountOrderedToPayInsuranceDeductible</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TagalongTenderOfferToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The required tag-along tender offer to non-controlling interests in an acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TagalongTenderOfferToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of the tag-along tender offer to non-controlling interests accounted for as a contingent liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TagalongTenderOfferToNoncontrollingInterestsContingentLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TagalongTenderOfferToNoncontrollingInterestsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The required Tag-along tender offer to non-controlling interests in an acquisition expressed as a percentage of the price per share paid in such acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TagalongTenderOfferToNoncontrollingInterestsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TagalongTenderOfferToNoncontrollingInterestsShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The required tag-along tender offer to non-controlling interests in an acquisition expressed in shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TagalongTenderOfferToNoncontrollingInterestsShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TermOfSupplyContract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The term of a supply contract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TermOfSupplyContract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TechgenSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TechgenSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_ConfabMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_ConfabMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=ts_ChubbMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=ts_ChubbMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=ts_VeracelCeluloseSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=ts_VeracelCeluloseSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_TribunalDeContasDaUniaoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_TribunalDeContasDaUniaoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_TransportadoraDeGasDelNorteSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_TransportadoraDeGasDelNorteSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_PraxairSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_PraxairSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_GraftechMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_GraftechMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_ValeInternationalSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_ValeInternationalSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_CanadianNationalRailwayMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_CanadianNationalRailwayMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_AirLiquideMexicoSDeRLDeCVMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_AirLiquideMexicoSDeRLDeCVMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_NucorSteelMemphisIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_NucorSteelMemphisIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_BR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_BR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_CompanhiaSiderrgicaNacionalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_CompanhiaSiderrgicaNacionalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2014Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_IT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_IT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2014PrincipalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2014InterestAndPenaltiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2015Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2015Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2015PrincipalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ts_TaxContingentLiabilityRelatedToFiscalYear2015InterestAndPenaltiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>30
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790434672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Segment Information (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsExplanatory', window );">Disclosure of operating segments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Tubes</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Other</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Continuing operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Discontinued operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - Net Sales</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,870</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">424</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,294</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Management view - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">857</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">73</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">929</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Difference in cost of sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(105</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(102</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Differences in depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Differences in selling, general and administrative expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Differences in other operating income (expenses), net</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">755</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">77</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">832</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial income (expense), net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before equity in earnings of non-consolidated companies and income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">852</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Equity in earnings of non-consolidated companies</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Income before income tax</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">934</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Capital expenditures</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">338</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">350</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">523</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">540</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Tubes</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Other</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Continuing operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Discontinued operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - Net Sales</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,233</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">426</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,659</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Management view - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">702</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">783</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Difference in cost of sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">119</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Differences in depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(34</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(34</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Differences in selling, general and administrative expenses</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">777</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">95</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">872</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Financial income (expense), net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before equity in earnings of non-consolidated companies and income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">909</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Equity in earnings of non-consolidated companies</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Income before income tax</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,103</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left">Capital expenditures</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">346</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">349</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">645</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">664</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">Year ended December 31, 2017</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Tubes</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Other</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Continuing operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Discontinued operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - Net Sales</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,966</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">323</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,289</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Management view - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">163</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Difference in cost of sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">164</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">165</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Differences in depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Differences in selling, general and administrative expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Differences in other operating income (expenses), net</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">292</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">335</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial income (expense), net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(23</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before equity in earnings of non-consolidated companies and income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">312</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Equity in earnings of non-consolidated companies</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">116</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Income before income tax</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Capital expenditures</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">550</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">558</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">594</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">609</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasExplanatory', window );">Disclosure of geographical areas [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">North America</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">South America</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Europe</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Middle East &amp; Africa</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Asia Pacific</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unallocated (*)</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total continuing operations</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total discontinued operations</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; font-size: 10pt; text-align: justify">Net sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,429,911</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,391,288</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">738,880</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,382,172</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">351,804</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,294,055</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,885,120</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,227,044</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,282,775</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">958,424</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">609,663</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">879,965</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,842,991</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">612,809</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">176,173</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">149,321</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">319,406</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">90,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,771,570</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,129,260</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">816,721</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">254,858</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">117,608</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,090,017</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Capital expenditures</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">169,390</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,999</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,169</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,578</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,038</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">350,174</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">276,046</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">105,308</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82,400</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,520</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,247</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,521</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Net sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,611,509</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,462,044</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">724,733</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,559,988</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,314</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,658,588</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,971,311</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,489,522</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,913,589</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">588,746</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">482,563</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">805,568</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,251,299</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">791,190</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">280,801</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">215,202</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">383,358</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">66,815</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,859,060</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,133,113</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">848,178</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,040</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">129,517</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,063,908</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Capital expenditures</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">196,220</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">68,603</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">77,467</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,047</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,136</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">349,473</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">441,705</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">108,558</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82,769</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,389</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,936</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">664,357</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2017</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Net sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,451,357</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,142,142</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">545,777</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">937,439</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">211,789</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,288,504</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,899</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,925,520</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,975,599</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,002,658</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">391,029</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">441,546</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">661,866</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,398,218</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">582,204</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">234,877</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">214,944</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">135,524</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46,511</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,214,060</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,914,229</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,190,145</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">878,788</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">102,481</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">143,500</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,229,143</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Capital expenditures</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">430,142</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">58,949</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">57,285</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,562</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,153</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">558,091</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">145</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">354,091</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">126,273</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93,900</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,094</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,282</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">608,640</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SegmentRevenuesByMarketExplanatory', window );">Segment revenues by market [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">Revenues Tubes&nbsp;&nbsp;(in million US dollar)</td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2019</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Oil and Gas</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,757</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,042</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,034</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Hydrocarbon Processing and Power Generation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">534</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">602</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">484</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Industrial and Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">579</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">589</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">448</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">Total</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,870</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,233</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,966</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfGeographicalAreasExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of geographical information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGeographicalAreasExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOperatingSegmentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of operating segments. [Refer: Operating segments [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOperatingSegmentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SegmentRevenuesByMarketExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Text block disclosure of segment revenues by market.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SegmentRevenuesByMarketExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ts_TubesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ts_TubesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>31
<FILENAME>R143.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790611088">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 24 - Derivative Financial Instruments (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 52<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790388192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Other Operating Income and Expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock', window );">Disclosure of detailed information about other operating income and expenses [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left">Other operating income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 55%; font-size: 10pt; text-align: left">Net income from other sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,651</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,604</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,395</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Net rents</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,089</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,909</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,325</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Other</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,025</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,546</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,796</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Recovery on allowance for doubtful receivables</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,239</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,004</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,059</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,516</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Other operating expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Contributions to welfare projects and non-profits organizations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,199</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,379</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,158</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Loss on fixed assets and material supplies disposed / scrapped</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Allowance for doubtful receivables</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,179</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">84</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,199</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,558</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,360</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,199</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,558</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,359</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about other operating income and expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutOtherOperatingIncomeAndExpensesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790517728">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Intangible Assets, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory', window );">Disclosure of reconciliation of changes in intangible assets and goodwill [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Information <br /> system projects</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Licenses,<br /> patents and<br /> trademarks (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Goodwill</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Customer<br /> relationships</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">580,622</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">464,571</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,085,936</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,058,859</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,189,988</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,917</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(70</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(968</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,955</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations (**)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">405</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32,869</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81,192</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">114,466</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,487</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">772</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,259</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,665</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,665</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,062</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,531</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,593</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">604,870</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">463,742</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,117,837</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,140,051</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,326,500</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">513,984</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">373,466</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">797,592</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,038,981</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,724,023</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,734</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,734</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Amortization charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,937</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">719</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,259</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,915</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,850</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(413</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,263</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">536,337</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">373,772</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">797,592</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,057,240</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,764,941</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">68,533</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89,970</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,320,245</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82,811</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,561,559</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Information <br /> system projects</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Licenses,<br /> patents and<br /> trademarks (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Goodwill</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Customer<br /> relationships</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">560,692</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">465,963</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,090,073</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,058,859</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,175,587</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,153</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(183</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,137</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,473</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,632</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">273</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,905</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,493</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,493</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(56</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,482</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,538</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">580,622</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">464,571</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,085,936</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,058,859</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,189,988</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">478,946</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">372,746</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">797,592</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,865,444</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,514,728</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,551</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,551</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Amortization charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,635</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">720</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">173,537</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">214,892</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(46</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(46</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">513,984</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">373,466</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">797,592</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,038,981</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,724,023</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">66,638</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">91,105</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,288,344</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,878</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,465,965</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory', window );">Disclosure of information for cash-generating units [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td colspan="5" style="font-size: 10pt">(All amounts in million US dollar)</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">As of December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tubes Segment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Other Segment</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">CGU</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Maverick<br /> Acquisition</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Hydril <br /> Acquisition</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Maverick <br /> Acquisition</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left">OCTG (USA)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">225</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">225</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Tamsa (Hydril and other)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">346</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">365</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Siderca (Hydril and other)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">265</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">358</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Hydril</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">309</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">309</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Confab</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Coiled Tubing</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">225</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">920</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">171</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,320</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information for cash-generating units. [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 134<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_134&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the reconciliation of changes in intangible assets and goodwill. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Paragraph 118<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_118&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
<FILENAME>R160.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6799947696">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 32 - Principal Subsidiaries - Percentage of Ownership of Each Controlled Company (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_HydrilCompanyAndSubsidiariesMember', window );">HYDRIL COMPANY and subsidiaries [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_CA', window );">CANADA | ALGOMA TUBES INC. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_CA', window );">CANADA | PRUDENTIAL STEEL LTD. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_CA', window );">CANADA | TENARIS GLOBAL SERVICES (CANADA) INC. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_BR', window );">BRAZIL | CONFAB INDUSTRIAL S.A. and subsidiaries [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_IT', window );">ITALY | DALMINE S.p.A. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">UNITED STATES | HYDRIL COMPANY and subsidiaries [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">UNITED STATES | MAVERICK TUBE CORPORATION and subsidiaries [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">UNITED STATES | TENARIS BAY CITY, INC. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">UNITED STATES | TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_KZ', window );">KAZAKHSTAN | Kazakhstan Pipe Threaders Limited [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_JP', window );">JAPAN | NKKTUBES [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">51.00%<span></span>
</td>
<td class="nump">51.00%<span></span>
</td>
<td class="nump">51.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ID', window );">INDONESIA | PT SEAMLESS PIPE INDONESIA JAYA [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">89.00%<span></span>
</td>
<td class="nump">89.00%<span></span>
</td>
<td class="nump">89.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_RO', window );">ROMANIA | S.C. SILCOTUB S.A. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_SA', window );">SAUDI ARABIA | Saudi Steel Pipe Company [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">48.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_AR', window );">ARGENTINA | SIAT SOCIEDAD ANONIMA [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_AR', window );">ARGENTINA | SIDERCA S.A.I.C. and subsidiaries [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_PT', window );">PORTUGAL | TALTA&#8212;TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_NL', window );">NETHERLANDS | TENARIS CONNECTIONS BV [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_NL', window );">NETHERLANDS | Tenaris Investments (NL) B.V. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_UY', window );">URUGUAY | TENARIS FINANCIAL SERVICES S.A. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_UY', window );">URUGUAY | TENARIS GLOBAL SERVICES S.A. and subsidiaries [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[3]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_GB', window );">UNITED KINGDOM | TENARIS GLOBAL SERVICES (UK) LTD [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_LU', window );">LUXEMBOURG | TENARIS INVESTMENTS S.&#224;r.l. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_CH', window );">SWITZERLAND | TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_Colombia1Member', window );">Colombia [member] | TENARIS TUBOCARIBE LTDA. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_MX', window );">MEXICO | TUBOS DE ACERO DE MEXICO S.A. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">All percentages rounded.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Tenaris Investments S.a.r.l. holds 100% of Hydril's subsidiaries shares except for Technical Drilling &amp; Production Services Nigeria. Ltd where it holds 80%.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Tenaris holds 97,5% of Tenaris Supply Chain S.A. and 40% of Tubular Technical Services Ltd. and Pipe Coaters Nigeria Ltd., 49% of Amaja Tubular Services Limited, 49% Tubular Services Angola Lda.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_HydrilCompanyAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_HydrilCompanyAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_CA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_AlgomaTubesIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_AlgomaTubesIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_PrudentialSteelLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_PrudentialSteelLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisGlobalServicesCanadaIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisGlobalServicesCanadaIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_BR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_BR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_IT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_IT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_DalmineSPAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_MaverickTubeCorporationAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_MaverickTubeCorporationAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisBayCityIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisBayCityIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisGlobalServicesUsaCorporationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisGlobalServicesUsaCorporationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_KZ">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_KZ</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_KazakhstanPipeThreadersLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_KazakhstanPipeThreadersLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_JP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_JP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_NkktubesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_NkktubesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_ID">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ID</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_PtSeamlessPipeIndonesiaJayaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_PtSeamlessPipeIndonesiaJayaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_RO">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_RO</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ScSilcotubSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ScSilcotubSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_SA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_SA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_SaudiSteelPipeCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_SaudiSteelPipeCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_AR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_AR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_SiatSociedadAnonimaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_SiatSociedadAnonimaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_SidercaSaicAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_SidercaSaicAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_PT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_PT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TaltatradingEMarketingSociedadeUnipessoalLdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_NL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_NL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisConnectionsBvMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisConnectionsBvMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisInvestmentsNLBVMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisInvestmentsNLBVMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_UY">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_UY</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisFinancialServicesSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisFinancialServicesSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisGlobalServicesSaAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisGlobalServicesSaAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_GB">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_GB</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisGlobalServicesUkLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisGlobalServicesUkLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_LU">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_LU</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisInvestmentsSrlMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisInvestmentsSrlMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_CH">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CH</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisInvestmentsSwitzerlandAgAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_Colombia1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_Colombia1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisTubocaribeLtdaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisTubocaribeLtdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_MX">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_MX</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TubosDeAceroDeMexicoSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TubosDeAceroDeMexicoSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>35
<FILENAME>R77.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790382576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 31 - Fees Paid to the Company's Principal Accountant (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfAuditorsRemunerationTextBlock', window );">Disclosure of auditor's remuneration [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Audit fees</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,846</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,841</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,995</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Audit-related fees</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">50</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">88</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax fees</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">All other fees</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,904</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,891</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,136</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfAuditorsRemunerationTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of auditor's remuneration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfAuditorsRemunerationTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>36
<FILENAME>R87.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6775414480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Risk Management - Changes in Level 3 Assets and Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">At the beginning of the year</a></td>
<td class="nump">$ 14,251,299<span></span>
</td>
<td class="nump">$ 14,398,218<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">At the end of the year</a></td>
<td class="nump">14,842,991<span></span>
</td>
<td class="nump">14,251,299<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">At the beginning of the year</a></td>
<td class="nump">52,985<span></span>
</td>
<td class="nump">26,409<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets', window );">Addition / (Decrease)</a></td>
<td class="nump">2,933<span></span>
</td>
<td class="nump">26,768<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets', window );">Currency translation adjustment and others</a></td>
<td class="num">(337)<span></span>
</td>
<td class="num">(192)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">At the end of the year</a></td>
<td class="nump">$ 55,581<span></span>
</td>
<td class="nump">$ 52,985<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.
Effective 2020-01-01: The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the fair value measurement of assets. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInFairValueMeasurementAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the fair value measurement of assets resulting from currency translation adjustments and others.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrencyTranslationAdjustmentAndOthersFairValueMeasurementAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R83.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6815449312">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>III. Financial Risk Management (Details Textual)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DebtToEquityRatio', window );">Debt to equity ratio</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.06<span></span>
</td>
<td class="nump">0.04<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation', window );">Reserve of exchange differences on translation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 600<span></span>
</td>
<td class="nump">$ 1,900<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">822,152<span></span>
</td>
<td class="nump">539,007<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher', window );">Gain (loss) on interest rate risk if market interest rates were higher</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(7,700)<span></span>
</td>
<td class="num">(8,200)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,348,160<span></span>
</td>
<td class="nump">$ 1,737,366<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 1,214,060<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LiquidFinancialAssetsPercentage', window );">Liquid financial assets, percentage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets', window );">Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue', window );">Financial liabilities, fair value as a percentage of carrying value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">99.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Reserve of cash flow hedges, continuing hedges</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2,600<span></span>
</td>
<td class="num">$ (900)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets', window );">Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=country_US', window );">UNITED STATES</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency', window );">Liquid financial assets, percentage denominated by a specific currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">95.00%<span></span>
</td>
<td class="nump">95.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForDoubtfulAccountsTradeReceivablesMember', window );">Allowance for doubtful accounts - trade receivables [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Total other provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 48,800<span></span>
</td>
<td class="nump">$ 66,500<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ts_PastDueMember', window );">Past due [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">242,700<span></span>
</td>
<td class="nump">368,400<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ts_GuaranteesUnderCreditInsuranceMember', window );">Guarantees under credit insurance [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">178,700<span></span>
</td>
<td class="nump">181,700<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ts_LetterOfCreditAndOtherBankGuaranteesMember', window );">Letter of credit and other bank guarantees [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">55,200<span></span>
</td>
<td class="nump">62,300<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ts_OtherGuaranteesMember', window );">Other guarantees [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">600<span></span>
</td>
<td class="nump">42,200<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_FinancialGuaranteeContractsMember', window );">Financial guarantee contracts [member] | Past due [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,700<span></span>
</td>
<td class="nump">31,500<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed interest rate [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">768,002<span></span>
</td>
<td class="nump">$ 520,471<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermBorrowings', window );">Current borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 728,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ConcentrationRiskPercentage', window );">Concentration Risk, percentage</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">93.00%<span></span>
</td>
<td class="nump">97.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember', window );">One percent change, Argentine Peso / U.S. dollar foreign exchange risk [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ForeignExchangeRiskCurrencyExposure', window );">Foreign exchange risk, currency exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="nump">$ 1,900<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember', window );">One percent change, Euro / U.S. dollar foreign exchange risk [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ForeignExchangeRiskCurrencyExposure', window );">Foreign exchange risk, currency exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">1,300<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember', window );">One percent change, Saudi Arabian Riyal / U.S. dollar foreign exchange risk [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ForeignExchangeRiskCurrencyExposure', window );">Foreign exchange risk, currency exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,600<span></span>
</td>
<td class="nump">3,600<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember', window );">One percent change, Saudi Arabian Riyal / U.S. dollar foreign exchange risk [member] | Foreign exchange derivatives contracts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ForeignExchangeRiskCurrencyExposure', window );">Foreign exchange risk, currency exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,900<span></span>
</td>
<td class="nump">$ 2,300<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ts_CustomerConcentrationRisk1Member', window );">Customer concentration risk [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CreditExposure', window );">Credit exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ConcentrationRiskPercentage', window );">Concentration Risk, percentage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ts_CounterpartyRiskMember', window );">Counterparty risk [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ConcentrationRiskPercentage', window );">Concentration Risk, percentage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">96.00%<span></span>
</td>
<td class="nump">83.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Out of the $768 million fixed rate borrowings, $728 million are short-term.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CreditExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of exposure to loss resulting from credit risk. [Refer: Credit risk [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph IG24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_IG24_a&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph IG25<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_IG25_b&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 36<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_36_c&amp;doctype=Standard&amp;book=b<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CreditExposure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the reserve of cash flow hedges in relation to continuing hedges. [Refer: Reserve of cash flow hedges]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 24B<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24B_b_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfCashFlowHedgesContinuingHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing exchange differences on translation of financial statements of foreign operations recognised in other comprehensive income and accumulated in equity. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2019-01-01<br> -Paragraph 52<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_52_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers out of Level 1 and into Level 2 of the fair value hierarchy of assets held at the end of the reporting period. [Refer: Level 1 of fair value hierarchy [member]; Level 2 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers out of Level 2 and into Level 1 of the fair value hierarchy of assets held at the end of the reporting period. [Refer: Level 1 of fair value hierarchy [member]; Level 2 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ConcentrationRiskPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ConcentrationRiskPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DebtToEquityRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The year-end ratio of debt to total equity (where &#8220;debt&#8221; comprises financial borrowings and &#8220;total equity&#8221; is the sum of financial borrowings and equity).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DebtToEquityRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of a financial liabilities carrying amount that represents its fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_FinancialLiabilitiesFairValueAsAPercentageOfCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ForeignExchangeRiskCurrencyExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of currency exposure which impact profit and loss expressed as long/(short).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ForeignExchangeRiskCurrencyExposure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of potential gain (loss) on interest rate risk if the market interest rates were higher.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_GainLossOnInterestRateRiskIfMarketInterestRatesWereHigher</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LiquidFinancialAssetsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of assets held that are liquid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LiquidFinancialAssetsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of liquid financial assets that are denominated by a specific currency.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LiquidFinancialAssetsPercentageDenominatedByASpecificCurrency</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForDoubtfulAccountsTradeReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForDoubtfulAccountsTradeReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ts_PastDueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ts_PastDueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ts_GuaranteesUnderCreditInsuranceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ts_GuaranteesUnderCreditInsuranceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ts_LetterOfCreditAndOtherBankGuaranteesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ts_LetterOfCreditAndOtherBankGuaranteesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ts_OtherGuaranteesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ts_OtherGuaranteesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_FinancialGuaranteeContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_FinancialGuaranteeContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeArgentinePesoUsDollarForeignExchangeRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeEuroUsDollarForeignExchangeRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ts_OnePercentChangeSaudiArabianRiyalUsDollarForeignExchangeRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeDerivativesContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeDerivativesContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ts_CustomerConcentrationRisk1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ts_CustomerConcentrationRisk1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ts_CounterpartyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ts_CounterpartyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R164.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6789355568">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 36 - Update as of April 29, 2020 - Assets and Liabilities Assumed (Details) - Acquisition of IPSCO [member] - Major business combination [member]<br> $ in Millions</strong></div></th>
<th class="th">
<div>Jan. 02, 2020 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate', window );">Property, Plant and Equipment</a></td>
<td class="nump">$ 506<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">170<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_WorkingCapitalRecognisedAsOfAcquisitionDate', window );">Working capital</a></td>
<td class="nump">144<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate', window );">Cash and Cash Equivalents</a></td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherAssetsRecognisedAsOfAcquisitionDate', window );">Other assets</a></td>
<td class="nump">46<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate', window );">Borrowings</a></td>
<td class="num">(53)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ProvisionsRecognisedAsOfAcquisitionDate', window );">Provisions</a></td>
<td class="num">(27)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate', window );">Other liabilities</a></td>
<td class="num">(77)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate', window );">Deferred tax liabilities</a></td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed', window );">Net assets acquired</a></td>
<td class="nump">$ 710<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for borrowings assumed in a business combination. [Refer: Borrowings; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for cash and cash equivalents acquired in a business combination. [Refer: Cash and cash equivalents; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph IE72<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph IE72<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for plant, property and equipment acquired in a business combination. [Refer: Property, plant and equipment; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph IE72<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for other assets acquired in a business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for other liabilities assumed in a business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ProvisionsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for provisions assumed in a business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ProvisionsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_WorkingCapitalRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of working capital recognised as of acquisition date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_WorkingCapitalRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_MajorBusinessCombinationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_MajorBusinessCombinationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
<FILENAME>R73.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6793158432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 27 - Business Combinations (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember', window );">Saudi Steel Pipe Company [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory', window );">Disclosure of detailed information about business combination [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Fair value of acquired assets and liabilities:</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">SAR million</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">$ million</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Property, Plant and Equipment</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">671</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">179</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Customer relationship</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">305</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Investment in associated</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">77</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Working capital</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">167</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">45</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash and Cash Equivalents</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other Receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(304</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(81</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Employees end of service benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(59</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred Tax Liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(47</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(13</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Net assets acquired</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">853</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">228</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about business combinations. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Section Disclosures application of paragraphs 59 and 61<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;doctype=Appendix&amp;subtype=B&amp;dita_xref=IFRS03_gB64-B67_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790546624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>III. Financial Risk Management (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory', window );">Disclosure of effect of changes in foreign exchange rates [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">All amounts Long / (Short) in thousands of U.S. dollars</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center">As of December 31,</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; border-bottom: Black 1pt solid">Currency Exposure / Functional currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Argentine Peso / U.S. Dollar</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(95,811</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(186,867</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Euro / U.S. Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(103,518</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(175,419</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Saudi Arabian Riyal / U. S. Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(107,582</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory', window );">Disclosure of financial instruments by type of interest rate [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="15" style="font-size: 10pt; font-weight: bold; text-align: center">As of December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount in thousands of U.S. dollars</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount in thousands of U.S. dollars</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left">Fixed rate (*)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">768,002</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">520,471</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">97</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Variable rate</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,150</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,536</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock', window );">Disclosure of detailed information about financial instruments at fair value by category and levels [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Measurement Categories</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At Fair Value</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">December 31, 2019</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Carrying <br />amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized Cost</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVOCI</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVPL</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Assets</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,554,299</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">387,602</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,166,697</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,166,697</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other investments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">210,376</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">65,874</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,502</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">134,990</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,512</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Fixed income (time-deposit, zero coupon bonds, commercial papers)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">65,874</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">65,874</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Certificates of deposits</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,637</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,637</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Commercial papers</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,993</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,993</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other notes</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,244</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,244</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Bonds and other fixed income</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,502</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,502</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">134,990</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,512</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">U.S. government securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,211</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,211</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,211</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non - U.S. government securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,637</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,637</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,125</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,512</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Corporates securities</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">105,654</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">105,654</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">105,654</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Derivative financial instruments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,929</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,929</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,929</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other Investments Non-current</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,934</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Bonds and other fixed income</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other investments</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade receivables</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Receivables C and NC (*)</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">261,678</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93,239</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other receivables</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">141,898</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93,239</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Other receivables (non-financial)</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">119,780</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td> <td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,894,875</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">211,173</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,193,548</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,319,699</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,441</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,581</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Borrowings C and NC</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade payables</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">555,887</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">555,887</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Finance Lease Liabilities C and NC</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">230,167</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">230,167</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Derivative financial instruments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td> <td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,608,206</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Measurement Categories</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At Fair Value</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">December 31, 2018</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Carrying amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized Cost</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVOCI</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVPL</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Assets</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,361</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">268,163</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,198</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,198</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other investments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">487,734</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,410</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">166,094</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,230</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">168,165</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Fixed income (time-deposit, zero coupon bonds, commercial papers)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,410</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,410</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Certificates of deposits</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">198,912</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">198,912</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Commercial papers</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,932</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,932</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other notes</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">91,566</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">91,566</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Bonds and other fixed income</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">187,324</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">166,094</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,230</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">168,165</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">U.S. government securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,077</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,077</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,077</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non - U.S. government securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,912</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,912</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,912</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Corporates securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">142,176</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">140,105</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,071</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">142,176</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Structured notes</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Derivative financial instruments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,173</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,173</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,173</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other Investments Non-current</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,155</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Bonds and other fixed income</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other investments</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade receivables</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Receivables C and NC (*)</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">307,790</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">139,474</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,711</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other receivables</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">188,185</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">139,474</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,711</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Other receivables (non-financial)</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">119,605</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td> <td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,445,413</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">328,635</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194,927</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">442,193</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,384</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,985</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Borrowings C and NC</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade payables</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">693,673</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">693,673</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Derivative financial instruments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td> <td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,232,680</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory', window );">Disclosure of fair value measurement of assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Assets / Liabilities</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,985</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,409</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Addition / (Decrease)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,933</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,768</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Currency translation adjustment and others</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(337</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(192</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: left">At the end of the year</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,581</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,985</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the effect of changes in foreign exchange rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2019-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IAS21_g51-57_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the fair value measurement of assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial instruments by type of interest rate. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about financial instruments at fair value by category and levels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutFinancialInstrumentsAtFairValueByCategoryAndLevelsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R45.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790414224">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 35 - Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory', window );">Disclosure of events after reporting period [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 2.75pt"></td> <td style="width: 36pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">35</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Subsequent events</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Acquisition of IPSCO Tubulars, Inc.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Acquisition</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> January 2, 2020, </div>Tenaris acquired <div style="display: inline; font-style: italic; font: inherit;">100%</div> of the shares of IPSCO Tubulars, Inc. (&#x201c;IPSCO&#x201d;), a U.S. manufacturer of steel pipes, from PAO TMK (&#x201c;TMK&#x201d;). The acquisition price was determined on a cash-free, debt-free basis, and the amount paid in cash at the closing, following contractual adjustments for cash, indebtedness, working capital and certain other items as estimated by the seller as of the closing date, was <div style="display: inline; font-style: italic; font: inherit;">$1,067</div> million. The final acquisition price is subject to a contractual true-up adjustment based on actual amounts of cash, indebtedness, working capital and certain other items as of the closing date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">IPSCO&#x2019;s facilities are located mainly in the midwestern and northeastern regions of the country. IPSCO&#x2019;s steel shop in Koppel, Pennsylvania, is Tenaris&#x2019;s <div style="display: inline; font-style: italic; font: inherit;">first</div> in the United States, providing vertical integration through domestic production of a relevant part of its steel bar needs. Its Ambridge, Pennsylvania, mill adds a <div style="display: inline; font-style: italic; font: inherit;">second</div> seamless manufacturing facility and complements Tenaris&#x2019;s seamless plant in Bay City, Texas.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In connection with the closing of the transaction, the parties entered into a <div style="display: inline; font-style: italic; font: inherit;">6</div>-year master distribution agreement (the &#x201c;MDA&#x201d;) whereby, beginning on <div style="display: inline; font-style: italic; font: inherit;"> January 2, 2020, </div>Tenaris will be the exclusive distributor of TMK&#x2019;s OCTG and line pipe products in United States and Canada. At the end of the MDA&#x2019;s <div style="display: inline; font-style: italic; font: inherit;">6</div>-years term, TMK will have the option to extend the duration of its term for an additional <div style="display: inline; font-style: italic; font: inherit;">12</div> months. Under the MDA, Tenaris is required to purchase specified minimum volumes of TMK-manufactured OCTG and line pipe products.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company will begin consolidating IPSCO&#x2019;s balances and results of operations as from <div style="display: inline; font-style: italic; font: inherit;"> January 2, 2020. </div>The Company has retained a <div style="display: inline; font-style: italic; font: inherit;">third</div> party expert to estimate the purchase price allocation. As of the date of publication of these Consolidated Financial Statements, the purchase price allocation is still in progress.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The short period of time between the acquisition date and the date of approval of these Consolidated Financial Statements, as well as the considerable size and complexity of the acquired business, makes it impracticable for the Company to provide all disclosures required by IFRS <div style="display: inline; font-style: italic; font: inherit;">3</div> applicable to a business combination that occurred subsequent to year end.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Following the preparation of the initial purchase price allocation, the Company will continue its review and will make any necessary adjustments during the following <div style="display: inline; font-style: italic; font: inherit;">12</div> months, in accordance with IFRS <div style="display: inline; font-style: italic; font: inherit;">3.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for events after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 10<br> -IssueDate 2019-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=10&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IAS10_g17-22_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R152.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6791325136">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 29 - Discontinued Operations (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 20, 2017</div></th>
<th class="th"><div>Dec. 15, 2016</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations', window );">Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 328,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 327,631<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation', window );">Gain (loss) recognised on measurement to fair value less costs to sell or on disposal of assets or disposal groups constituting discontinued operation</a></td>
<td class="nump">$ 89,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 89,694<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gain (loss) recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation. [Refer: Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal of non-current assets or disposal groups classified as held for sale and discontinued operations. [Refer: Discontinued operations [member]; Disposal groups classified as held for sale [member]; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>43
<FILENAME>R41.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790516000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 31 - Fees Paid to the Company's Principal Accountant<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfAdditionalInformationExplanatory', window );">Disclosure of additional information [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 2.75pt"></td> <td style="width: 36pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">31</div></div></td> <td><div style="display: inline; font-weight: bold;">Fees paid to the Company's principal accountant</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Total fees accrued for professional services rendered by PwC Network firms to Tenaris S.A. and its subsidiaries are detailed as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Audit fees</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,846</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,841</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,995</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Audit-related fees</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">50</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">88</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax fees</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">All other fees</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,904</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,891</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,136</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfAdditionalInformationExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of additional information that is not presented elsewhere in the financial statements, but that is relevant to an understanding of them.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfAdditionalInformationExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R156.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6801787648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 30 - Related Party Transactions (Details Textual) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssued', window );">Total number of shares issued (in shares)</a></td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Key management personnel compensation, short-term employee benefits</a></td>
<td class="nump">$ 33.7<span></span>
</td>
<td class="nump">$ 33.7<span></span>
</td>
<td class="nump">$ 45.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Key management personnel compensation, share-based payment</a></td>
<td class="nump">$ 4.8<span></span>
</td>
<td class="nump">$ 5.6<span></span>
</td>
<td class="nump">$ 4.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ts_SanFaustinSaMember', window );">San Faustin S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssued', window );">Total number of shares issued (in shares)</a></td>
<td class="nump">713,605,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="nump">60.45%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Key management personnel of entity or parent [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="nump">0.08%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UnitsIssuedRelatedPartyTransactions', window );">Units issued, related party transactions (in shares)</a></td>
<td class="nump">468,000<span></span>
</td>
<td class="nump">558,000<span></span>
</td>
<td class="nump">484,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of short-term employee benefits. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_UnitsIssuedRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of units issued in a related party transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_UnitsIssuedRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ts_SanFaustinSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ts_SanFaustinSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R62.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6809459920">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Inventories, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock', window );">Disclosure of detailed information about inventories [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Finished goods</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">968,329</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,025,999</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Goods in process</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">612,888</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">709,497</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Raw materials</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">221,954</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">256,816</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Supplies</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">486,411</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">504,286</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Goods in transit</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194,015</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">237,539</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,483,597</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,734,137</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for obsolescence (see Note 23 (i))</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(217,717</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(209,796</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,265,880</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,524,341</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutInventoriesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R92.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796548240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Cost of Sales - Components of Cost of Sales (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Jan. 01, 2019</div></th>
<th class="th"><div>Jan. 01, 2018</div></th>
<th class="th"><div>Jan. 01, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventories</a></td>
<td class="nump">$ 2,265,880<span></span>
</td>
<td class="nump">$ 2,524,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,524,341<span></span>
</td>
<td class="nump">$ 2,368,304<span></span>
</td>
<td class="nump">$ 1,563,889<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseInInventoryDueToBusinessCombinations', window );">Increase in inventory due to business combinations</a></td>
<td class="nump">52,966<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther', window );">Raw materials, energy, consumables and other</a></td>
<td class="nump">2,709,629<span></span>
</td>
<td class="nump">3,400,396<span></span>
</td>
<td class="nump">2,794,503<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesServicesAndFees', window );">Services and fees</a></td>
<td class="nump">222,415<span></span>
</td>
<td class="nump">275,130<span></span>
</td>
<td class="nump">244,035<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesLaborCost', window );">Labor cost</a></td>
<td class="nump">870,261<span></span>
</td>
<td class="nump">855,040<span></span>
</td>
<td class="nump">778,408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment', window );">Depreciation of property, plant and equipment</a></td>
<td class="nump">428,791<span></span>
</td>
<td class="nump">432,497<span></span>
</td>
<td class="nump">383,490<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesAmortizationOfIntangibleAssets', window );">Amortization of intangible assets</a></td>
<td class="nump">5,948<span></span>
</td>
<td class="nump">8,220<span></span>
</td>
<td class="nump">18,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales', window );">Depreciation of right-of-use assets</a></td>
<td class="nump">28,727<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesMaintenanceExpenses', window );">Maintenance expenses</a></td>
<td class="nump">284,758<span></span>
</td>
<td class="nump">185,782<span></span>
</td>
<td class="nump">183,370<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesAllowanceForObsolescence', window );">Allowance for obsolescence</a></td>
<td class="nump">29,138<span></span>
</td>
<td class="nump">25,457<span></span>
</td>
<td class="num">(12,917)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesTaxes', window );">Taxes</a></td>
<td class="nump">100,738<span></span>
</td>
<td class="nump">133,308<span></span>
</td>
<td class="nump">18,542<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesOther', window );">Other</a></td>
<td class="nump">115,663<span></span>
</td>
<td class="nump">119,507<span></span>
</td>
<td class="nump">88,823<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesIncludingDiscontinuedOperations', window );">Cost of sales including discontinued operations</a></td>
<td class="nump">4,849,034<span></span>
</td>
<td class="nump">5,435,337<span></span>
</td>
<td class="nump">4,496,875<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_InventoriesIncludingDiscontinuedOperations', window );">Less: Inventories at the end of the year</a></td>
<td class="num">(2,265,880)<span></span>
</td>
<td class="num">(2,524,341)<span></span>
</td>
<td class="num">(2,368,304)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CostOfSalesDiscontinuedOperations', window );">From discontinued operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(7,403)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="nump">$ 5,107,495<span></span>
</td>
<td class="nump">$ 5,279,300<span></span>
</td>
<td class="nump">$ 3,685,057<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs relating to expenses directly or indirectly attributed to the goods or services sold, which may include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, unallocated production overheads and abnormal amounts of production costs of inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Paragraph 36<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesAllowanceForObsolescence">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of allowance for obsolescence attributable to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesAllowanceForObsolescence</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesAmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization of intangible assets attributable to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesAmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of depreciation of property, plant and equipment attributable to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesDepreciationOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense attributable to cost of sales from discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesIncludingDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cost of sales including discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesIncludingDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesLaborCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of labor cost attributable to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesLaborCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesMaintenanceExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of maintenance expenses attributable to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesMaintenanceExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other expense attributable to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of raw materials, energy, consumables and other expense attributable to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesRawMaterialsEnergyConsumablesAndOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesServicesAndFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of services and fees expense attributable to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesServicesAndFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CostOfSalesTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of tax expense attributable to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CostOfSalesTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the cost of sales impact of depreciation of right-of-use assets during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DepreciationOfRightofuseAssetsInventoryImpactOnCostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_IncreaseInInventoryDueToBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of increase in inventory during the period due to business combinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_IncreaseInInventoryDueToBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_InventoriesIncludingDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories including discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_InventoriesIncludingDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R96.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796715632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Other Operating Income and Expenses - Components of Other Operating Income and Expenses (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherOperatingIncomeAbstract', window );"><strong>Other operating income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherOperatingIncomeNetIncomeFromOtherSales', window );">Net income from other sales</a></td>
<td class="nump">$ 8,651<span></span>
</td>
<td class="nump">$ 3,604<span></span>
</td>
<td class="nump">$ 4,395<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherOperatingIncomeNetRents', window );">Net rents</a></td>
<td class="nump">5,089<span></span>
</td>
<td class="nump">4,909<span></span>
</td>
<td class="nump">4,325<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MiscellaneousOtherOperatingIncome', window );">Other</a></td>
<td class="nump">8,025<span></span>
</td>
<td class="nump">6,546<span></span>
</td>
<td class="nump">1,796<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts', window );">Recovery on allowance for doubtful receivables</a></td>
<td class="nump">1,239<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other income</a></td>
<td class="nump">23,004<span></span>
</td>
<td class="nump">15,059<span></span>
</td>
<td class="nump">10,516<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherOperatingExpensesAbstract', window );"><strong>Other operating expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations', window );">Contributions to welfare projects and non-profits organizations</a></td>
<td class="nump">11,199<span></span>
</td>
<td class="nump">11,379<span></span>
</td>
<td class="nump">9,158<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment', window );">Loss on fixed assets and material supplies disposed / scrapped</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">118<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables', window );">Allowance for doubtful receivables</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">1,179<span></span>
</td>
<td class="nump">84<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherExpenseIncludingDiscontinuedOperations', window );">Other expense including discontinued operations</a></td>
<td class="nump">11,199<span></span>
</td>
<td class="nump">12,558<span></span>
</td>
<td class="nump">9,360<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherOperatingExpenseDiscontinuedOperations', window );">From discontinued operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherExpenseByFunction', window );">Other expense</a></td>
<td class="nump">$ 11,199<span></span>
</td>
<td class="nump">$ 12,558<span></span>
</td>
<td class="nump">$ 9,359<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The losses on the disposal of property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 98<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_98_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousOtherOperatingIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of miscellaneous other operating income. [Refer: Other operating income (expense)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousOtherOperatingIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherExpenseByFunction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'function of expense' form for its analysis of expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35_b_vii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByFunction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35_b_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherExpenseIncludingDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other expense including discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherExpenseIncludingDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other operating expense attributable to contributions to welfare projects and non-profits organizations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherOperatingExpenseContributionsToWelfareProjectsAndNonprofitsOrganizations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherOperatingExpenseDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other operating expense attributable to discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherOperatingExpenseDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherOperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherOperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other operating expenses attributable to allowance for doubtful receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherOperatingExpensesAllowanceForDoubtfulReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherOperatingIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherOperatingIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherOperatingIncomeNetIncomeFromOtherSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other operating income attributable to net income from other sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherOperatingIncomeNetIncomeFromOtherSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherOperatingIncomeNetRents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other operating income attributable to net rents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherOperatingIncomeNetRents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other operating income attributable to recovery on allowance for doubtful accounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherOperatingIncomeRecoveryOnAllowanceForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>48
<FILENAME>R66.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790552576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 18 - Cash and Cash Equivalents and Other Investments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock', window );">Detailed disclosure of cash and cash equivalents and other investments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Cash and cash equivalents</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 74%; font-size: 10pt; text-align: left">Cash at banks</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,314</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81,211</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Liquidity funds</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,166,697</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,198</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Short &#x2013; term investments</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">269,288</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">186,952</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,554,299</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,361</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Other investments - current</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Fixed Income (time-deposit, zero coupon bonds, commercial papers)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">65,874</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,410</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bonds and other fixed Income</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,502</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">187,324</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">210,376</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">487,734</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Other investments - Non-current</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Bonds and other fixed Income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,829</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,934</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,155</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The detailed disclosure of cash and cash equivalents and other investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DetailedDisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R110.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6793200192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Lease Liability (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Opening net book amount</a></td>
<td class="nump">$ 234,149<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations', window );">Increase due to business combinations</a></td>
<td class="nump">2,267<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LeaseLiabilitiesTranslationDifferences', window );">Translation differences</a></td>
<td class="nump">2,690<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LeaseLiabilitiesAdditions', window );">Additions</a></td>
<td class="nump">36,957<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LeaseLiabilitiesCancellations', window );">Cancellations</a></td>
<td class="num">(4,688)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LeaseLiabilitiesRepayments', window );">Repayments</a></td>
<td class="num">(43,974)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LeaseLiabilitiesInterestAccrued', window );">Interest accrued</a></td>
<td class="nump">2,766<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Ending net book amount</a></td>
<td class="nump">$ 230,167<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LeaseLiabilitiesAdditions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of additions to lease liabilities during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LeaseLiabilitiesAdditions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LeaseLiabilitiesCancellations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the change in lease liabilities during the period attributable to cancellations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LeaseLiabilitiesCancellations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the increase in lease liabilities during the period due to business combinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LeaseLiabilitiesIncreaseDueToBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LeaseLiabilitiesInterestAccrued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the change in lease liabilities during the period attributable to interest accrued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LeaseLiabilitiesInterestAccrued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LeaseLiabilitiesRepayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the change in lease liabilities during the period from repayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LeaseLiabilitiesRepayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LeaseLiabilitiesTranslationDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the impact of translation differences on lease liabilities during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LeaseLiabilitiesTranslationDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
<FILENAME>R114.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6794677488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Investments in Non-consolidated Companies - Summary of Selected Financial Information (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non-current assets</a></td>
<td class="nump">$ 9,172,384<span></span>
</td>
<td class="nump">$ 8,787,107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets</a></td>
<td class="nump">5,670,607<span></span>
</td>
<td class="nump">5,464,192<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">14,842,991<span></span>
</td>
<td class="nump">14,251,299<span></span>
</td>
<td class="nump">$ 14,398,218<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non-current liabilities</a></td>
<td class="nump">876,162<span></span>
</td>
<td class="nump">657,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="nump">1,780,457<span></span>
</td>
<td class="nump">1,718,363<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="nump">2,656,619<span></span>
</td>
<td class="nump">2,375,807<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">197,414<span></span>
</td>
<td class="nump">92,610<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">7,294,055<span></span>
</td>
<td class="nump">7,658,588<span></span>
</td>
<td class="nump">5,288,504<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="nump">2,186,560<span></span>
</td>
<td class="nump">2,379,288<span></span>
</td>
<td class="nump">1,603,447<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Net income for the year attributable to owners of the parent</a></td>
<td class="nump">742,686<span></span>
</td>
<td class="nump">876,063<span></span>
</td>
<td class="nump">544,737<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Total comprehensive income for the year, net of tax, attributable to owners of the parent</a></td>
<td class="nump">690,095<span></span>
</td>
<td class="nump">776,713<span></span>
</td>
<td class="nump">$ 683,531<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember', window );">Ternium S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non-current assets</a></td>
<td class="nump">8,757,320<span></span>
</td>
<td class="nump">8,121,824<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets</a></td>
<td class="nump">4,178,213<span></span>
</td>
<td class="nump">4,426,038<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">12,935,533<span></span>
</td>
<td class="nump">12,547,862<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non-current liabilities</a></td>
<td class="nump">3,452,535<span></span>
</td>
<td class="nump">3,236,756<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="nump">1,768,125<span></span>
</td>
<td class="nump">1,826,530<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="nump">5,220,660<span></span>
</td>
<td class="nump">5,063,286<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">1,103,208<span></span>
</td>
<td class="nump">1,091,321<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">10,192,818<span></span>
</td>
<td class="nump">11,454,807<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="nump">1,740,378<span></span>
</td>
<td class="nump">2,971,479<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Net income for the year attributable to owners of the parent</a></td>
<td class="nump">564,269<span></span>
</td>
<td class="nump">1,506,647<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Total comprehensive income for the year, net of tax, attributable to owners of the parent</a></td>
<td class="nump">445,473<span></span>
</td>
<td class="nump">1,176,964<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non-current assets</a></td>
<td class="nump">4,335,662<span></span>
</td>
<td class="nump">4,696,896<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets</a></td>
<td class="nump">2,198,449<span></span>
</td>
<td class="nump">2,148,322<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">6,534,111<span></span>
</td>
<td class="nump">6,845,218<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non-current liabilities</a></td>
<td class="nump">1,955,395<span></span>
</td>
<td class="nump">1,933,207<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="nump">716,930<span></span>
</td>
<td class="nump">860,862<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="nump">2,672,325<span></span>
</td>
<td class="nump">2,794,069<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">377,667<span></span>
</td>
<td class="nump">369,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">3,790,206<span></span>
</td>
<td class="nump">3,766,241<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="nump">478,141<span></span>
</td>
<td class="nump">612,156<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Net income for the year attributable to owners of the parent</a></td>
<td class="nump">$ 52,779<span></span>
</td>
<td class="nump">$ 194,381<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.
Effective 2020-01-01: The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81B_b_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.
Effective 2020-01-01: The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 12<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph q<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2019-01-01<br> -Paragraph 22<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=10&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.
Effective 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
<FILENAME>R118.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804042992">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Assets (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentValueAddedTaxReceivables', window );">V.A.T. credits</a></td>
<td class="nump">$ 112,161<span></span>
</td>
<td class="nump">$ 67,322<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentPrepaidTaxes', window );">Prepaid taxes</a></td>
<td class="nump">55,227<span></span>
</td>
<td class="nump">54,010<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsCurrent', window );">Current tax assets, current</a></td>
<td class="nump">$ 167,388<span></span>
</td>
<td class="nump">$ 121,332<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentValueAddedTaxReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current value added tax receivables. [Refer: Value added tax receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentValueAddedTaxReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentPrepaidTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of current prepaid taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentPrepaidTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
<FILENAME>R137.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6809107856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Other Liabilities - Plan Assets (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Values at the beginning of the year</a></td>
<td class="nump">$ 91,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">At the end of the year</a></td>
<td class="nump">99,000<span></span>
</td>
<td class="nump">$ 91,200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_FairValueOfFundedPostemploymentBenefitsMember', window );">Fair value of funded post-employment benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Values at the beginning of the year</a></td>
<td class="num">(132,438)<span></span>
</td>
<td class="num">(145,692)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="num">(4,137)<span></span>
</td>
<td class="nump">7,514<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset', window );">Return on plan assets</a></td>
<td class="num">(5,018)<span></span>
</td>
<td class="num">(4,936)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset', window );">Remeasurements</a></td>
<td class="num">(10,507)<span></span>
</td>
<td class="nump">3,967<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset', window );">Contributions paid to the plan</a></td>
<td class="num">(3,589)<span></span>
</td>
<td class="num">(3,108)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid from the plan</a></td>
<td class="nump">10,259<span></span>
</td>
<td class="nump">9,453<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other</a></td>
<td class="nump">270<span></span>
</td>
<td class="nump">364<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">At the end of the year</a></td>
<td class="num">(145,160)<span></span>
</td>
<td class="num">(132,438)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember', window );">Funded post-employment benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Values at the beginning of the year</a></td>
<td class="nump">146,885<span></span>
</td>
<td class="nump">165,485<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="num">(4,542)<span></span>
</td>
<td class="nump">8,182<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid from the plan</a></td>
<td class="nump">10,259<span></span>
</td>
<td class="nump">9,453<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">At the end of the year</a></td>
<td class="nump">$ 160,412<span></span>
</td>
<td class="nump">$ 146,885<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets', window );">Equity instruments</a></td>
<td class="nump">49.00%<span></span>
</td>
<td class="nump">53.50%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets', window );">Debt instruments</a></td>
<td class="nump">47.00%<span></span>
</td>
<td class="nump">42.80%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherAssetsPercentContributedToFairValueOfPlanAssets', window );">Others</a></td>
<td class="nump">4.00%<span></span>
</td>
<td class="nump">3.70%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from actuarial gains (losses) arising from experience adjustments that result in remeasurements of the net defined benefit liability (asset). Experience adjustments deal with the effects of differences between the previous actuarial assumptions and what has actually occurred. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from contributions to a defined benefit plan. [Refer: Net defined benefit liability (asset); Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_f&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContributionsToPlanNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes in foreign exchange rates. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from payments from the plan. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_g&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from the return on plan assets, excluding amounts included in interest income or expense. The return on plans assets is interest, dividends and other revenue derived from the plan assets, together with realised and unrealised gains or losses on the plan assets, less any costs of managing plan assets and less any tax payable by the plan itself, other than tax included in the actuarial assumptions used to measure the present value of the defined benefit obligation. [Refer: Plan assets [member]; Net defined benefit liability (asset); Actuarial assumptions [member]; Interest expense (income), net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_c_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percent that instruments representing debt (rather than equity) constitute of the fair value of defined benefit plan assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DebtInstrumentsPercentContributedToFairValueOfPlanAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percent that instruments representing equity (rather than debt) constitute of the fair value of defined benefit plan assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EquityInstrumentsPercentContributedToFairValueOfPlanAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherAssetsPercentContributedToFairValueOfPlanAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percent that other types of assets not separately disclosed constitute of the fair value of defined benefit plan assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherAssetsPercentContributedToFairValueOfPlanAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_FairValueOfFundedPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_FairValueOfFundedPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R20.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790146288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Intangible Assets, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsExplanatory', window );">Disclosure of intangible assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">10</div></div></td> <td><div style="display: inline; font-weight: bold;">Intangible assets, net</div></td> </tr>  </table> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Information <br /> system projects</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Licenses,<br /> patents and<br /> trademarks (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Goodwill</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Customer<br /> relationships</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">580,622</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">464,571</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,085,936</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,058,859</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,189,988</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,917</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(70</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(968</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,955</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations (**)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">405</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32,869</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81,192</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">114,466</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,487</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">772</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,259</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,665</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,665</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,062</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,531</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,593</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">604,870</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">463,742</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,117,837</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,140,051</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,326,500</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">513,984</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">373,466</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">797,592</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,038,981</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,724,023</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,734</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,734</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Amortization charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,937</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">719</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,259</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,915</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,850</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(413</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,263</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">536,337</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">373,772</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">797,592</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,057,240</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,764,941</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">68,533</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89,970</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,320,245</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82,811</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,561,559</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Information <br /> system projects</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Licenses,<br /> patents and<br /> trademarks (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Goodwill</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Customer<br /> relationships</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">560,692</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">465,963</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,090,073</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,058,859</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,175,587</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,153</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(183</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,137</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,473</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,632</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">273</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,905</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,493</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,493</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(56</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,482</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,538</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">580,622</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">464,571</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,085,936</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,058,859</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,189,988</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">478,946</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">372,746</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">797,592</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,865,444</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,514,728</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,551</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,551</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Amortization charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,635</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">720</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">173,537</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">214,892</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Disposals</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(46</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(46</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">513,984</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">373,466</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">797,592</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,038,981</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,724,023</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">66,638</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">91,105</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,288,344</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,878</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,465,965</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(*) Includes Proprietary Technology.</div> <div style=" margin: 0pt 0; font-size: 10pt">(**) Related to SSP acquisition.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The geographical allocation of goodwill for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>was <div style="display: inline; font-style: italic; font: inherit;">$1,168.4</div> million for North America, <div style="display: inline; font-style: italic; font: inherit;">$116.2</div> million for South America, <div style="display: inline; font-style: italic; font: inherit;">$1.9</div> million for Europe and <div style="display: inline; font-style: italic; font: inherit;">$33.7</div> million for Middle East &amp; Africa.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The carrying amount of goodwill allocated by CGU, as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>was as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td colspan="5" style="font-size: 10pt">(All amounts in million US dollar)</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">As of December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tubes Segment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Other Segment</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">CGU</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Maverick<br /> Acquisition</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Hydril <br /> Acquisition</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Maverick <br /> Acquisition</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-right: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left">OCTG (USA)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">225</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">225</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Tamsa (Hydril and other)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">346</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">365</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Siderca (Hydril and other)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">265</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">358</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Hydril</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">309</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">309</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Confab</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Coiled Tubing</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">225</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">920</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">171</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,320</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfIntangibleAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IAS38_g118-128_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIntangibleAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>54
<FILENAME>R133.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6799998368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Other Liabilities (Details Textual) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OverfundedPlan', window );">Overfunded Plan</a></td>
<td class="nump">$ 4.2<span></span>
</td>
<td class="nump">$ 3.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan', window );">Estimate of contributions expected to be paid to plan for next annual reporting period</a></td>
<td class="nump">5.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember', window );">Unfunded post-employment benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset', window );">Actuarial losses (gains) arising from changes in demographic assumptions, net defined benefit liability (asset)</a></td>
<td class="num">(1.3)<span></span>
</td>
<td class="nump">0.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset', window );">Actuarial losses (gains) arising from changes in financial assumptions, net defined benefit liability (asset)</a></td>
<td class="num">$ (5.7)<span></span>
</td>
<td class="nump">3.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember', window );">Unfunded post-employment benefits [member] | Actuarial assumption of discount rates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption', window );">Percentage of reasonably possible increase in actuarial assumption</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption</a></td>
<td class="nump">$ 7.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption</a></td>
<td class="num">$ (7.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember', window );">Unfunded post-employment benefits [member] | Actuarial assumption of expected rates of salary increases [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption', window );">Percentage of reasonably possible increase in actuarial assumption</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption</a></td>
<td class="nump">$ 4.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption</a></td>
<td class="num">(4.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember', window );">Funded post-employment benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset', window );">Actuarial losses (gains) arising from changes in demographic assumptions, net defined benefit liability (asset)</a></td>
<td class="num">(0.4)<span></span>
</td>
<td class="num">(0.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset', window );">Actuarial losses (gains) arising from changes in financial assumptions, net defined benefit liability (asset)</a></td>
<td class="nump">$ 12.4<span></span>
</td>
<td class="nump">$ 8.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember', window );">Funded post-employment benefits [member] | Actuarial assumption of discount rates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption', window );">Percentage of reasonably possible increase in actuarial assumption</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption</a></td>
<td class="nump">$ 16.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption</a></td>
<td class="num">$ (19.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember', window );">Funded post-employment benefits [member] | Actuarial assumption of expected rates of salary increases [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption', window );">Percentage of reasonably possible increase in actuarial assumption</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption</a></td>
<td class="nump">$ 1.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption</a></td>
<td class="num">$ (1.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from actuarial gains (losses) arising from changes in demographic assumptions that result in remeasurements of the net defined benefit liability (asset). Demographic assumptions deal with matters such as: (a) mortality; (b) rates of employee turnover, disability and early retirement; (c) the proportion of plan members with dependants who will be eligible for benefits; (d) the proportion of plan members who will select each form of payment option available under the plan terms; and (e) claim rates under medical plans. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_c_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from actuarial gains (losses) arising from changes in financial assumptions that result in remeasurements of the net defined benefit liability (asset). Financial assumptions deal with items such as: (a) the discount rate; (b) benefit levels, excluding any cost of the benefits to be met by employees, and future salary; (c) in the case of medical benefits, future medical costs, including claim handling costs (ie the costs that will be incurred in processing and resolving claims, including legal and adjuster's fees); and (d) taxes payable by the plan on contributions relating to service before the reporting date or on benefits resulting from that service. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_c_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimate of the expected contributions to be made to a defined benefit plan for the next annual reporting period. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 147<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_147_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 148<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_148_d_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in a defined benefit obligation that would have been caused by a decrease in a significant actuarial assumption that was reasonably possible at the end of the reporting period. [Refer: Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 145<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_145_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in a defined benefit obligation that would have been caused by an increase in a significant actuarial assumption that was reasonably possible at the end of the reporting period. [Refer: Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 145<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_145_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reasonably possible percentage of the increase in the actuarial assumption used to determine the present value of defined benefit obligation. [Refer: Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 145<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_145_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OverfundedPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Defined benefit plan in which retirement benefits are payable directly from plan assets segregated and restricted to provide such benefits and for which plan assets exceed benefit obligation of plan designed to provide retirement benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OverfundedPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfDiscountRatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfDiscountRatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>55
<FILENAME>R24.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790349376">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Inventories, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInventoriesExplanatory', window );">Disclosure of inventories [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">14</div></div></td> <td><div style="display: inline; font-weight: bold;">Inventories, net</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Finished goods</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">968,329</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,025,999</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Goods in process</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">612,888</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">709,497</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Raw materials</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">221,954</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">256,816</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Supplies</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">486,411</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">504,286</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Goods in transit</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194,015</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">237,539</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,483,597</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,734,137</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for obsolescence (see Note 23 (i))</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(217,717</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(209,796</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,265,880</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,524,341</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInventoriesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IAS02_g36-39_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInventoriesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790256688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 18 - Cash and Cash Equivalents and Other Investments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock', window );">Disclosure of cash and cash equivalents and other investments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">18</div></div></td> <td><div style="display: inline; font-weight: bold;">Cash and cash equivalents and other investments</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Cash and cash equivalents</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 74%; font-size: 10pt; text-align: left">Cash at banks</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,314</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81,211</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Liquidity funds</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,166,697</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,198</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Short &#x2013; term investments</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">269,288</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">186,952</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,554,299</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,361</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Other investments - current</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Fixed Income (time-deposit, zero coupon bonds, commercial papers)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">65,874</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,410</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bonds and other fixed Income</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,502</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">187,324</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">210,376</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">487,734</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Other investments - Non-current</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Bonds and other fixed Income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,829</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,934</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,155</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of cash and cash equivalents and other investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfCashAndCashEquivalentsAndOtherInvestmentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790287360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 34 - Delisting of Tenaris's Shares from the Buenos Aires Stock Exchange<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DelistingOfSharesFromStockExchangeExplanatory', window );">Delisting of shares from stock exchange [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 2.75pt"></td> <td style="width: 36pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">34</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Delisting of Tenaris&#x2019;s shares from the Buenos Aires stock exchange</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> July 29, 2019, </div>the General Shareholders Meeting approved the delisting of the Company&#x2019;s shares from the Buenos Aires stock exchange, Bolsas y Mercados Argentinos S.A. (&#x201c;BYMA&#x201d;), through a voluntarily withdrawal from listing of the Argentine National Securities Commission (Comisi&oacute;n Nacional de Valores, or &#x201c;CNV&#x201d;) pursuant to Article <div style="display: inline; font-style: italic; font: inherit;">32,</div> clause c), Section VIII, Chapter II of Title III of the rules (Normas) of the CNV, which permits the Company to delist from BYMA without making a delisting public tender offer. On <div style="display: inline; font-style: italic; font: inherit;"> September 19, 2019, </div>the CNV authorized the delisting of the Company&#x2019;s shares in Argentina, and such delisting became effective as of the close of business on <div style="display: inline; font-style: italic; font: inherit;"> October 10, 2019.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Although shareholders holding shares through Caja de Valores S.A. (&#x201c;CVSA&#x201d;) on <div style="display: inline; font-style: italic; font: inherit;"> June 11, 2019 </div>who were absent from the General Shareholders Meeting were entitled to appraisal rights provided pursuant to article <div style="display: inline; font-style: italic; font: inherit;">22</div> of the Company&#x2019;s articles of association, <div style="display: inline; font-style: italic; font: inherit;">no</div> shareholder eligible to do so exercised such right.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DelistingOfSharesFromStockExchangeExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure describing the delisting of shares from a stock exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DelistingOfSharesFromStockExchangeExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R153.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790321440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 29 - Discontinued Operations - Components of Discontinued Operation's Net Income (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 20, 2017</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent', window );">Income from discontinued operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,848<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation', window );">After tax gain on the sale of Conduit</a></td>
<td class="nump">$ 89,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">89,694<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromDiscontinuedOperations', window );">Net Income for discontinued operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 91,542<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gain (loss) recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation. [Refer: Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income from discontinued operations attributable to owners of the parent. [Refer: Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from discontinued operations. [Refer: Discontinued operations [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_vii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph ea<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_ea&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 98<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_98_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>59
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6598597088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 30 - Related Party Transactions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRelatedPartyExplanatory', window );">Disclosure of related party [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 2.75pt"></td> <td style="width: 36pt"><div style="display: inline; font-style: italic; font: inherit;">30</div></td> <td style="text-align: justify">Related party transactions</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">San Faustin S.A., a Luxembourg soci&eacute;t&eacute; anonyme (&#x201c;San Faustin&#x201d;), owned <div style="display: inline; font-style: italic; font: inherit;">713,605,187</div> shares in the Company, representing <div style="display: inline; font-style: italic; font: inherit;">60.45%</div> of the Company&#x2019;s capital and voting rights.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">San Faustin owned all of its shares in the Company through its wholly-owned subsidiary Techint Holdings S.&agrave;.r.l., a Luxembourg soci&eacute;t&eacute; &agrave; responsabilit&eacute; limit&eacute;e (&#x201c;Techint&#x201d;), who is the holder of record of the above-mentioned Tenaris shares.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Rocca &amp; Partners Stichting Administratiekantoor Aandelen San Faustin, a private foundation located in the Netherlands (Stichting) (&#x201c;RP STAK&#x201d;) held voting shares in San Faustin sufficient in number to control San Faustin.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">No</div> person or group of persons controls RP STAK.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Based on the information most recently available to the Company, Tenaris&#x2019;s directors and senior management as a group owned <div style="display: inline; font-style: italic; font: inherit;">0.08%</div> of the Company&#x2019;s outstanding shares.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Transactions and balances disclosed as with &#x201c;non-consolidated parties&#x201d; are those with companies over which Tenaris exerts significant influence or joint control in accordance with IFRS, but does <div style="display: inline; font-style: italic; font: inherit;">not</div> have control. All other transactions and balances with related parties which are <div style="display: inline; font-style: italic; font: inherit;">not</div> non-consolidated parties and which are <div style="display: inline; font-style: italic; font: inherit;">not</div> consolidated are disclosed as &#x201c;Other&#x201d;. The following transactions were carried out with related parties:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: justify">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom"> <td><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">(i)</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Transactions</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">(a) Sales of goods and services</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 5%">&nbsp;</td> <td style="width: 59%; font-size: 10pt; text-align: left">Sales of goods to non-consolidated parties</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,577</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,709</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32,362</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Sales of goods to other related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">69,972</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">131,548</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,624</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Sales of services to non-consolidated parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,620</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,641</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,637</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Sales of services to other related parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,386</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,647</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,751</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">100,555</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">168,545</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">142,374</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">(b) Purchases of goods and services</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Purchases of goods to non-consolidated parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">174,588</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">245,186</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">234,361</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Purchases of goods to other related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">51,765</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">106,624</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,711</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Purchases of services to non-consolidated parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,404</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,556</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,077</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Purchases of services to other related parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,514</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46,179</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">50,794</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">290,271</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">407,545</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">314,943</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <!-- Field: Page; Sequence: 161 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal"></div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At December 31,</td> </tr> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">(ii)</div></div></td> <td style="font-size: 10pt; font-weight: bold">Period-end balances</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">(a) Arising from sales / purchases of goods / services</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 5%">&nbsp;</td> <td style="width: 71%; font-size: 10pt; text-align: left">Receivables from non-consolidated parties</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">78,884</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">122,136</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Receivables from other related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,400</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,419</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Payables to non-consolidated parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(19,100</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(33,197</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Payables to other related parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,048</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,595</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,136</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">95,763</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">(b) Financial debt</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Finance lease liabilities from non-consolidated parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,064</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,064</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal">In addition to the tables above, Tenaris issued various guarantees and is party to a commitment in favor of Techgen: for further details, please see note <div style="display: inline; font-style: italic; font: inherit;">12</div>(c) and <div style="display: inline; font-style: italic; font: inherit;">25</div>(ii). <div style="display: inline; font-style: italic; font: inherit;">No</div> other material guarantees were issued in favor of other related parties.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">Directors&#x2019; and senior management compensation</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">During the years ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div><div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017,</div> the cash compensation of Directors and Senior managers amounted to <div style="display: inline; font-style: italic; font: inherit;">$33.7</div> million, <div style="display: inline; font-style: italic; font: inherit;">$33.7</div> million and <div style="display: inline; font-style: italic; font: inherit;">$45.8</div> million respectively. These amounts include cash benefits paid to certain senior managers in connection with the pre-existing retirement plans. In addition, Directors and Senior managers received <div style="display: inline; font-style: italic; font: inherit;">468,</div> <div style="display: inline; font-style: italic; font: inherit;">558</div> and <div style="display: inline; font-style: italic; font: inherit;">484</div> thousand units for a total amount of <div style="display: inline; font-style: italic; font: inherit;">$4.8</div> million, <div style="display: inline; font-style: italic; font: inherit;">$5.6</div> million and <div style="display: inline; font-style: italic; font: inherit;">$4.7</div> million respectively in connection with the Employee retention and long term incentive program mentioned in Note O Employee benefits &#x2013; Other long term benefits.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfRelatedPartyExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Section Disclosures<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IAS24_g13-24_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfRelatedPartyExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R157.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6802489712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 30 - Related Party Transactions - Transactions Carried Out With Related Parties (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RevenueRelatedPartyTransactions', window );">Revenue, related party transactions</a></td>
<td class="nump">$ 100,555<span></span>
</td>
<td class="nump">$ 168,545<span></span>
</td>
<td class="nump">$ 142,374<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions', window );">Purchases of goods and services, related party transactions</a></td>
<td class="nump">290,271<span></span>
</td>
<td class="nump">407,545<span></span>
</td>
<td class="nump">314,943<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AmountsReceivablePayableRelatedPartyTransactions', window );">Amounts receivable (payable), related party transactions</a></td>
<td class="nump">63,136<span></span>
</td>
<td class="nump">95,763<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties', window );">Finance lease liabilities from non-consolidated parties</a></td>
<td class="num">(2,064)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinancialDebtRelatedParties', window );">Financial debt, related parties</a></td>
<td class="num">(2,064)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_AssociatesMember', window );">Associates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales of goods to related parties</a></td>
<td class="nump">20,577<span></span>
</td>
<td class="nump">23,709<span></span>
</td>
<td class="nump">32,362<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions', window );">Sales of services to related parties</a></td>
<td class="nump">5,620<span></span>
</td>
<td class="nump">7,641<span></span>
</td>
<td class="nump">11,637<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions', window );">Purchases of goods to related parties</a></td>
<td class="nump">174,588<span></span>
</td>
<td class="nump">245,186<span></span>
</td>
<td class="nump">234,361<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions', window );">Purchases of services to related parties</a></td>
<td class="nump">9,404<span></span>
</td>
<td class="nump">9,556<span></span>
</td>
<td class="nump">12,077<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsReceivableRelatedPartyTransactions', window );">Receivables from non-consolidated parties</a></td>
<td class="nump">78,884<span></span>
</td>
<td class="nump">122,136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsPayableRelatedPartyTransactions', window );">Payables to non-consolidated parties</a></td>
<td class="num">(19,100)<span></span>
</td>
<td class="num">(33,197)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other related parties [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales of goods to related parties</a></td>
<td class="nump">69,972<span></span>
</td>
<td class="nump">131,548<span></span>
</td>
<td class="nump">94,624<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions', window );">Sales of services to related parties</a></td>
<td class="nump">4,386<span></span>
</td>
<td class="nump">5,647<span></span>
</td>
<td class="nump">3,751<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions', window );">Purchases of goods to related parties</a></td>
<td class="nump">51,765<span></span>
</td>
<td class="nump">106,624<span></span>
</td>
<td class="nump">17,711<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions', window );">Purchases of services to related parties</a></td>
<td class="nump">54,514<span></span>
</td>
<td class="nump">46,179<span></span>
</td>
<td class="nump">$ 50,794<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsReceivableRelatedPartyTransactions', window );">Receivables from non-consolidated parties</a></td>
<td class="nump">10,400<span></span>
</td>
<td class="nump">24,419<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsPayableRelatedPartyTransactions', window );">Payables to non-consolidated parties</a></td>
<td class="num">$ (7,048)<span></span>
</td>
<td class="num">$ (17,595)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmountsPayableRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts payable resulting from related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsPayableRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmountsReceivableRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts receivable resulting from related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsReceivableRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of goods purchased by the entity in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchasesOfGoodsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of property and other assets purchased by the entity in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchasesOfPropertyAndOtherAssetsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of services in related party transactions. [Refer: Revenue; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the sale of goods in related party transactions. [Refer: Revenue; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_AmountsReceivablePayableRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts receivable (payable) resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_AmountsReceivablePayableRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of finance lease liabilities from non-consolidated parties as of the specified date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_FinanceLeaseLiabilitiesFromNonconsolidatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_FinancialDebtRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of financial debt with related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_FinancialDebtRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of purchases of goods and services in related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_PurchasesOfGoodsAndServicesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RevenueRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RevenueRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_AssociatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_AssociatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6793051808">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>II. Accounting Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock', window );">Disclosure of detailed information about the estimated useful lives of property, plant and equipment [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-; min-width: 700px;"> <tr> <td style="vertical-align: top; width: 4%; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="vertical-align: top; width: 56%; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Land</div></div></td> <td style="vertical-align: bottom; width: 40%"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">No Depreciation</div></div></td> </tr> <tr> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Buildings and improvements </div></div></td> <td style="vertical-align: bottom"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">30-50 years</div></div></td> </tr> <tr> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Plant and production equipment </div></div></td> <td style="vertical-align: bottom"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">10-40 years</div></div></td> </tr> <tr> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Vehicles, furniture and fixtures, and other equipment</div></div></td> <td style="vertical-align: bottom"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">4-10 years</div></div></td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock', window );">Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 76%; border: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt">Increase in the discount rate</div></td> <td style="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">95 Bps</div></div></td> </tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt">Decrease of the growth rate</div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">-1.6 %</div></div></td> </tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt">Decrease of the cash flow projections</div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">-15.3 %</div></div></td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Text block disclosure regarding the amount by which value that has been assigned to a key assumption must change in order for a unit's recoverable amount to be equal to its carrying amount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about the estimated useful lives of property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutTheEstimatedUsefulLivesOfPropertyPlantAndEquipmentTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>62
<FILENAME>R63.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6789281680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Receivables and Prepayments, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock', window );">Disclosure of detailed information about receivables and prepayments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Prepaid expenses and other receivables</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,579</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,599</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Government entities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,867</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,182</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Employee advances and loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,189</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,521</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Advances to suppliers and other advances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,180</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,467</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Government tax refunds on exports</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">670</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,896</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Receivables from related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,837</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,322</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Miscellaneous</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,145</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,682</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">109,467</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">162,669</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for other doubtful accounts (see Note 23 (i))</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,892</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,784</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">104,575</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">155,885</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutReceivablesAndPrepaymentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R93.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808477264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Selling, General and Administrative Expenses - Components of Selling, General and Administrative Expenses (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesServicesAndFees', window );">Services and fees</a></td>
<td class="nump">$ 153,773<span></span>
</td>
<td class="nump">$ 128,090<span></span>
</td>
<td class="nump">$ 132,301<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesLaborCost', window );">Labor cost</a></td>
<td class="nump">481,854<span></span>
</td>
<td class="nump">470,928<span></span>
</td>
<td class="nump">443,338<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment', window );">Depreciation of property, plant and equipment</a></td>
<td class="nump">18,524<span></span>
</td>
<td class="nump">16,968<span></span>
</td>
<td class="nump">17,979<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets', window );">Selling, general and administrative expenses, amortization of intangible assets</a></td>
<td class="nump">41,967<span></span>
</td>
<td class="nump">206,672<span></span>
</td>
<td class="nump">188,550<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets', window );">Depreciation of right-of-use assets</a></td>
<td class="nump">15,564<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses', window );">Commissions, freight and other selling expenses</a></td>
<td class="nump">441,442<span></span>
</td>
<td class="nump">491,555<span></span>
</td>
<td class="nump">339,759<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies', window );">Provisions for contingencies</a></td>
<td class="nump">28,565<span></span>
</td>
<td class="nump">23,498<span></span>
</td>
<td class="nump">17,664<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts', window );">Allowances for doubtful accounts</a></td>
<td class="num">(16,256)<span></span>
</td>
<td class="nump">1,751<span></span>
</td>
<td class="num">(5,421)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesTaxes', window );">Taxes</a></td>
<td class="nump">110,876<span></span>
</td>
<td class="nump">71,110<span></span>
</td>
<td class="nump">56,826<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesOther', window );">Other</a></td>
<td class="nump">89,665<span></span>
</td>
<td class="nump">99,404<span></span>
</td>
<td class="nump">81,061<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations', window );">Selling, general and administrative expenses including discontinued operations</a></td>
<td class="nump">1,365,974<span></span>
</td>
<td class="nump">1,509,976<span></span>
</td>
<td class="nump">1,272,057<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations', window );">From discontinued operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(2,041)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SellingGeneralAndAdministrativeExpense', window );">Total selling, general and administrative expense</a></td>
<td class="nump">$ 1,365,974<span></span>
</td>
<td class="nump">$ 1,509,976<span></span>
</td>
<td class="nump">$ 1,270,016<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to selling, general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of allowances for doubtful accounts attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesAllowancesForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization of intangible assets attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of commissions, freight and other selling expenses attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesCommissionsFreightAndOtherSellingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of depreciation of property, plant and equipment attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesDepreciationOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization of depreciation of right-of-use assets attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesDepreciationOfRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of selling, general and administrative expenses attributable to discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of selling, general and administrative expenses including discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesIncludingDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesLaborCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of labor cost attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesLaborCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other expenses attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of provisions for contingencies attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesProvisionsForContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesServicesAndFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of services and fees attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesServicesAndFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of taxes attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R97.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810408608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Financial Results (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Interest income (expense)</a></td>
<td class="nump">$ 4,381<span></span>
</td>
<td class="num">$ (6,151)<span></span>
</td>
<td class="num">$ (11,550)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Interest income (expense)</a></td>
<td class="nump">$ 7,600<span></span>
</td>
<td class="nump">$ 3,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRevenueExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense arising from interest. [Refer: Interest expense; Interest income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRevenueExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>65
<FILENAME>R67.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790270992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 19 - Borrowings (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory', window );">Disclosure of detailed information about borrowings [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Non-current</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Bank borrowings</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,896</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,214</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Costs of issue of debt</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,880</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,187</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Current</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Bank borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,258</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">508,143</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Bank overdrafts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,644</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Finance lease liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">44</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Costs of issue of debt</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,820</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Borrowings</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock', window );">Disclosure of detailed information about the maturity of borrowings [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 year or <br /> less</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 - 2 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2 &#x2013; 3 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3 - 4 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4 - 5 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over 5 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 30%; font-size: 10pt; text-align: left; padding-bottom: 1pt">Other borrowings</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,307</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,573</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total borrowings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,307</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,573</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest to be accrued (*)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,370</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,045</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">117</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,532</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">792,642</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,352</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,690</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">834,684</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 year or <br /> less</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 - 2 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2 &#x2013; 3 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3 - 4 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4 - 5 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over 5 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2018</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 30%; font-size: 10pt; text-align: left">Financial lease</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">44</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">44</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other borrowings</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,776</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,271</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,771</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,145</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">538,963</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total borrowings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,820</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,271</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,771</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,145</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest to be accrued (*)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,182</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,175</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,166</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">169</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,692</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">518,002</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,446</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,937</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,314</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">549,699</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock', window );">Disclosure of detailed information about significant borrowings [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</td> <td style="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</td> <td style="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">In million of USD</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; width: 26%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Disbursement date</div></td> <td style="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Borrower</div></td> <td style="white-space: nowrap; width: 15%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Type</div></td> <td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Original &amp; Outstanding</div></td> <td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Final maturity</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap"><div style="display: inline; font-size: 10pt">2019</div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Tamsa</div></div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Bank loans</div></div></td> <td style="white-space: nowrap; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">621</div></div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">2020</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap"><div style="display: inline; font-size: 10pt">2019</div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Siderca</div></div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Bank loans</div></div></td> <td style="white-space: nowrap; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">60</div></div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">2020</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap">&nbsp;</td> <td style="white-space: nowrap; text-align: center">&nbsp;</td> <td style="white-space: nowrap; text-align: center">&nbsp;</td> <td style="white-space: nowrap; text-align: right">&nbsp;</td> <td style="white-space: nowrap; text-align: center">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock', window );">Disclosure of detailed information about weighted average interest rates of borrowings [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Total borrowings</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.18</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.98</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock', window );">Disclosure of detailed information about borrowings by currency and rate [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Interest rates</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%; font-size: 10pt">USD</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 36%; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,370</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,762</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">SAR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,106</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,108</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,023</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,296</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,402</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total non-current borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,880</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,187</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Interest rates</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%; font-size: 10pt">USD</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 36%; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,092</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,847</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">274,799</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">138,303</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">80</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">198</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,772</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,178</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">MXN</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">424,964</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">301,047</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">ARS</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">86</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,125</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">SAR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,666</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">SAR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,797</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total current borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,820</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfBorrowingsEvolutionTextBlock', window );">Disclosure of borrowings evolution [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31, 2019</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non current</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Current</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,187</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,820</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(229</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">669</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Proceeds and repayments, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,582</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">203,931</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interests accrued less payments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">304</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,950</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,733</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,733</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to Business Combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,933</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53,789</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Overdrafts variation</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,620</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,880</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfBorrowingsEvolutionTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for borrowings changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfBorrowingsEvolutionTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about borrowings by currency and rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutBorrowingsByCurrencyAndRateTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about significant borrowings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutSignificantBorrowingsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about the maturity of borrowings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutTheMaturityOfBorrowingsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about weighted average interest rates of borrowings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutWeightedAverageInterestRatesOfBorrowingsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>66
<FILENAME>R119.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790425360">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentIncomeTaxLiabilities', window );">Income tax liabilities</a></td>
<td class="nump">$ 64,994<span></span>
</td>
<td class="nump">$ 182,711<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentValueAddedTaxPayables', window );">V.A.T. liabilities</a></td>
<td class="nump">9,953<span></span>
</td>
<td class="nump">18,091<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentOtherTaxLiabilities', window );">Other taxes</a></td>
<td class="nump">52,678<span></span>
</td>
<td class="nump">49,431<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Current tax liabilities, current</a></td>
<td class="nump">$ 127,625<span></span>
</td>
<td class="nump">$ 250,233<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities. [Refer: Current tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentValueAddedTaxPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current value added tax payables. [Refer: Value added tax payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentValueAddedTaxPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentIncomeTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current income tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentIncomeTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentOtherTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of current other tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentOtherTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>R111.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797429344">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Investments in Non-consolidated Companies (Details Textual)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 16, 2012</div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>R$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Feb. 13, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities', window );">Dividends received from associates, classified as investing activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,974<span></span>
</td>
<td class="nump">$ 25,722<span></span>
</td>
<td class="nump">$ 22,971<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Total investments in subsidiaries, joint ventures and associates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 805,568<span></span>
</td>
<td class="nump">$ 640,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 879,965<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_SeveralBanksToRefinanceObligationsMember', window );">Several banks, to refinance obligations [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DebtServiceCoverageRatioCoveredPercent', window );">Debt service coverage ratio, covered, percent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LettersOfCreditCovered', window );">Letters of credit, covered</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_SeveralBanksToRefinanceObligationsMember', window );">Several banks, to refinance obligations [member] | Techgen s.a. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Debt instruments issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 640,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember', window );">Ternium S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumAndUsiminasMember', window );">Ternium and Usiminas [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities', window );">Dividends received from associates, classified as investing activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 29<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished', window );">Fair value of investments in associates for which there are quoted market prices</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">92,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Total investments in subsidiaries, joint ventures and associates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 74,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | Ordinary shares [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ClosingPricePerShare', window );">Closing price, per share (in BRL per share) | (per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 9.83<span></span>
</td>
<td class="nump">$ 2.44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | Preference shares [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ClosingPricePerShare', window );">Closing price, per share (in BRL per share) | (per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 9.51<span></span>
</td>
<td class="nump">2.36<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | CONFAB INDUSTRIAL S.A. and subsidiaries [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Proportion of voting rights held in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.20%<span></span>
</td>
<td class="nump">5.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.07%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | Ternium S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Proportion of voting rights held in associate</a></td>
<td class="nump">27.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="nump">13.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember', window );">Ternium S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ClosingPricePerADS', window );">Closing price, per ads (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished', window );">Fair value of investments in associates for which there are quoted market prices</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 505,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Total investments in subsidiaries, joint ventures and associates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 751,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TechgenSAMember', window );">Techgen s.a. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay', window );">Transportation capacity agreement, purchasing capacity of natural gas per day</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ProvisionForExposureToTransportationCapacityAgreements', window );">Provision for exposure to transportation capacity agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 51,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements', window );">Provision for exposure to purchase and other service agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates', window );">Provision for exposure to the purchase of clean energy certificates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties', window );">Proceeds From (Repayments of Loans) Receivable From Related Parties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 40,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndReceivables', window );">Loans and receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 58,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ProportionOfCorporateGuaranteeCoveringObligations', window );">Proportion of corporate guarantee covering obligations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TechgenSAMember', window );">Techgen s.a. [member] | Tecpetrol International S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TechgenSAMember', window );">Techgen s.a. [member] | Ternium S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">48.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments issued by the entity that represent indebtedness.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow representing dividends received from associates, classified as investing activities. [Refer: Associates [member]; Dividends received]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of investments in associates if there are quoted market prices for the investment. [Refer: Associates [member]; Investments in associates]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets with fixed or determinable payments that are not quoted in an active market, other than: (a) those that the entity intends to sell immediately or in the near term, which shall be classified as held for trading, and those that the entity, upon initial recognition, designates as at fair value through profit or loss; (b) those that the entity, upon initial recognition, designates as available for sale; or (c) those for which the holder may not recover substantially all of its initial investment, other than because of credit deterioration, which shall be classified as available for sale. An interest acquired in a pool of assets that are not loans or receivables (for example, an interest in a mutual fund or a similar fund) is not a loan or receivable. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 8<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_8_c&amp;doctype=Standard&amp;book=b<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in an associate held by the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingPowerHeldInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ClosingPricePerADS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the closing price per American Depositary Security "ADS" as quoted on the New York Stock Exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ClosingPricePerADS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ClosingPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the quoted closing price per share of stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ClosingPricePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DebtServiceCoverageRatioCoveredPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percent amount of covered debt service coverage ratio.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DebtServiceCoverageRatioCoveredPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LettersOfCreditCovered">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of covered letters of credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LettersOfCreditCovered</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of proceeds from (repayments of loans) receivable from related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ProceedsFromRepaymentsOfLoansReceivableFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ProportionOfCorporateGuaranteeCoveringObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the proportion of a corporate guarantee that covers obligations made under a syndicated loan agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ProportionOfCorporateGuaranteeCoveringObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of exposure related to contracts for the purchase of power generation equipment and other services related to the equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ProvisionForExposureToPurchaseAndOtherServiceAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provision for exposure to the purchase of clean energy certificates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ProvisionForExposureToThePurchaseOfCleanEnergyCertificates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ProvisionForExposureToTransportationCapacityAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of exposure risk from transportation capacity agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ProvisionForExposureToTransportationCapacityAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of purchasing capacity of MMBtu/Gas per day under a transportation capacity agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TransportationCapacityAgreementPurchasingCapacityOfNaturalGasPerDay</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ts_SeveralBanksToRefinanceObligationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ts_SeveralBanksToRefinanceObligationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_TechgenSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_TechgenSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumAndUsiminasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumAndUsiminasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TechgenSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TechgenSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ts_TecpetrolInternationalSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ts_TecpetrolInternationalSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>68
<FILENAME>R115.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6793567952">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 13 - Receivables - Non Current - Components of Receivables Non Current (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentReceivablesEmployeeAdvancesAndLoans', window );">Employee advances and loans</a></td>
<td class="nump">$ 6,008<span></span>
</td>
<td class="nump">$ 3,740<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax', window );">Tax credits</a></td>
<td class="nump">20,065<span></span>
</td>
<td class="nump">16,025<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivablesDueFromRelatedParties', window );">Receivables from related parties</a></td>
<td class="nump">59,999<span></span>
</td>
<td class="nump">58,128<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentPrepayments', window );">Legal deposits</a></td>
<td class="nump">12,378<span></span>
</td>
<td class="nump">12,446<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances', window );">Advances to suppliers and other advances</a></td>
<td class="nump">3,772<span></span>
</td>
<td class="nump">7,592<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">52<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReceivablesFromInterestInVenezuelanCompanies', window );">Receivable Venezuelan subsidiaries</a></td>
<td class="nump">48,659<span></span>
</td>
<td class="nump">48,659<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentReceivables', window );">Others</a></td>
<td class="nump">6,222<span></span>
</td>
<td class="nump">5,263<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts', window );">Trade and other non-current receivables before the allowance for doubtful accounts</a></td>
<td class="nump">$ 157,103<span></span>
</td>
<td class="nump">$ 151,905<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPrepayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current prepayments. [Refer: Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPrepayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivablesDueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables due from related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivablesDueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables from taxes other than income tax. [Refer: Receivables from taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current other receivables. [Refer: Other receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables from advances to suppliers and other advances.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NoncurrentReceivablesAdvancesToSuppliersAndOtherAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NoncurrentReceivablesEmployeeAdvancesAndLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables from employee advances and loans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NoncurrentReceivablesEmployeeAdvancesAndLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReceivablesFromInterestInVenezuelanCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount receivable from interest in Venezuelan companies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReceivablesFromInterestInVenezuelanCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of trade and other non-current receivables before the allowance for doubtful accounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TradeAndOtherNoncurrentReceivablesBeforeTheAllowanceForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>69
<FILENAME>R29.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804040928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 19 - Borrowings<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfBorrowingsExplanatory', window );">Disclosure of borrowings [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">19</div></div></td> <td><div style="display: inline; font-weight: bold;">Borrowings</div></td> </tr>  </table> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Non-current</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Bank borrowings</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,896</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,214</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Costs of issue of debt</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,880</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,187</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Current</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Bank borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,258</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">508,143</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Bank overdrafts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,644</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Finance lease liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">44</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Costs of issue of debt</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,820</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Borrowings</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The maturity of borrowings is as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 year or <br /> less</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 - 2 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2 &#x2013; 3 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3 - 4 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4 - 5 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over 5 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 30%; font-size: 10pt; text-align: left; padding-bottom: 1pt">Other borrowings</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,307</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,573</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total borrowings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,307</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,573</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest to be accrued (*)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,370</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,045</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">117</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,532</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">792,642</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,352</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,690</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">834,684</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 year or <br /> less</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1 - 2 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2 &#x2013; 3 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3 - 4 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">4 - 5 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over 5 <br /> years</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2018</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 30%; font-size: 10pt; text-align: left">Financial lease</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">44</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 7%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">44</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other borrowings</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,776</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,271</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,771</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,145</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">538,963</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total borrowings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,820</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,271</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,771</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,145</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest to be accrued (*)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,182</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,175</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,166</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">169</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,692</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">518,002</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,446</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,937</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,314</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">549,699</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; background-color: white">(*) Includes the effect of hedge accounting.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">Significant borrowings include:</div> <div> <table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</td> <td style="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</td> <td style="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">In million of USD</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; width: 26%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Disbursement date</div></td> <td style="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Borrower</div></td> <td style="white-space: nowrap; width: 15%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Type</div></td> <td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Original &amp; Outstanding</div></td> <td style="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">Final maturity</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap"><div style="display: inline; font-size: 10pt">2019</div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Tamsa</div></div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Bank loans</div></div></td> <td style="white-space: nowrap; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">621</div></div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">2020</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap"><div style="display: inline; font-size: 10pt">2019</div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Siderca</div></div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Bank loans</div></div></td> <td style="white-space: nowrap; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">60</div></div></td> <td style="white-space: nowrap; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">2020</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap">&nbsp;</td> <td style="white-space: nowrap; text-align: center">&nbsp;</td> <td style="white-space: nowrap; text-align: center">&nbsp;</td> <td style="white-space: nowrap; text-align: right">&nbsp;</td> <td style="white-space: nowrap; text-align: center">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>Tenaris was in compliance with all of its covenants.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The weighted average interest rates before tax shown below were calculated using the rates set for each instrument in its corresponding currency as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> considering hedge accounting where applicable.</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Total borrowings</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.18</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.98</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Breakdown of long-term borrowings by currency and rate is as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Non-current borrowings</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Interest rates</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%; font-size: 10pt">USD</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 36%; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,370</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,762</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">SAR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,106</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,108</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,023</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,296</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,402</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total non-current borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,880</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,187</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <!-- Field: Page; Sequence: 147 -->   <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">Breakdown of short-term borrowings by currency and rate is as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Current borrowings</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Interest rates</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%; font-size: 10pt">USD</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 36%; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,092</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,847</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">274,799</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">138,303</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">80</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">198</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,772</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,178</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">MXN</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">424,964</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">301,047</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">ARS</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">86</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,125</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">SAR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,666</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">SAR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,797</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Variable</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">Fixed</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total current borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,820</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Borrowings evolution</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31, 2019</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non current</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Current</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,187</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">509,820</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(229</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">669</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Proceeds and repayments, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,582</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">203,931</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interests accrued less payments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">304</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,950</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,733</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,733</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to Business Combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,933</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53,789</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Overdrafts variation</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,620</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,880</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">781,272</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">The carrying amounts of assets pledged as security for current and non-current borrowings are immaterial for the years <div style="display: inline; font-style: italic; font: inherit;">2019</div> and <div style="display: inline; font-style: italic; font: inherit;">2018.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfBorrowingsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfBorrowingsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>70
<FILENAME>R136.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790739392">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 21 - Other Liabilities - Actuarial Assumptions (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member] | Unfunded post-employment benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases', window );">Rate of compensation increase</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member] | Funded post-employment benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases', window );">Rate of compensation increase</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member] | Unfunded post-employment benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="nump">7.00%<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases', window );">Rate of compensation increase</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member] | Funded post-employment benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="nump">4.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases', window );">Rate of compensation increase</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfDiscountRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The discount rate used as the significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 144<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfDiscountRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected rate of salary increases used as a significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit plans [member]; Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 144<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>71
<FILENAME>R21.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790289088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Right-of-use Assets, Net and Lease Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfLeasesExplanatory', window );">Disclosure of leases [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">11</div></div></td> <td><div style="display: inline; font-weight: bold;">Right-of-use assets, net and lease liabilities</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Right of use assets evolution</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and Civil<br /> Buildings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Industrial <br /> Buildings, Plant <br /> and Production<br /> Equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vehicles, furniture<br /> and fixtures</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 48%; font-size: 10pt; text-align: justify">Opening net book amount</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,713</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,352</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,335</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">238,400</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,038</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,267</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Currency translation adjustment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(88</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(74</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,292</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,985</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,165</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,442</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Disposals</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,009</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,488</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(818</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,315</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Transfers</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">496</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(496</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,137</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">225,389</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,194</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">275,720</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,514</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,869</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,908</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">44,291</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(62</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">62</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Disposals / Consumptions</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(181</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,229</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(295</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,705</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,330</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,581</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,683</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,594</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,807</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194,808</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,511</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">233,126</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Depreciation of right-of-use assets was mainly included in Tubes segment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The initial cost of right-of-use assets consists of the initial lease liability plus lease payments made in <div style="display: inline; font-style: italic; font: inherit;">2018</div> of approximately <div style="display: inline; font-style: italic; font: inherit;">$4</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Lease liability evolution</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 87%; font-size: 10pt; text-align: left">Opening net book amount</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">234,149</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,267</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,690</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,957</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Cancellations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,688</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Repayments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(43,974</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest accrued</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,766</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">230,167</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(<div style="display: inline; font-weight: bold;">*</div>) The weighted average lessee&#x2019;s incremental borrowing rate applied to the lease liabilities on <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019 </div>was <div style="display: inline; font-style: italic; font: inherit;">2.4%.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The amount of remaining payments with maturity less than <div style="display: inline; font-style: italic; font: inherit;">1</div> year, between <div style="display: inline; font-style: italic; font: inherit;">2</div> and <div style="display: inline; font-style: italic; font: inherit;">5</div> years and more than <div style="display: inline; font-style: italic; font: inherit;">5</div> years is approximately <div style="display: inline; font-style: italic; font: inherit;">16%,</div> <div style="display: inline; font-style: italic; font: inherit;">44%</div> and <div style="display: inline; font-style: italic; font: inherit;">40%</div> of the total remaining payments, respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Expense relating to short-term leases and low value leases (included in <div style="display: inline; font-style: italic;">cost of sales and selling, general and administrative expenses</div>) in the period amounted to <div style="display: inline; font-style: italic; font: inherit;">$15.1</div> million and <div style="display: inline; font-style: italic; font: inherit;">$1.3</div> million respectively.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfLeasesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Section Presentation<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IFRS16_g47-50_TI<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IFRS16_g51-60_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfLeasesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>72
<FILENAME>R132.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6794644608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 20 - Deferred Income Tax - Net Deferred Tax Liabilities (Assets) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (225,680)<span></span>
</td>
<td class="num">$ (181,606)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">336,982<span></span>
</td>
<td class="nump">379,039<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax liability (asset)</a></td>
<td class="nump">$ 197,433<span></span>
</td>
<td class="nump">$ 304,438<span></span>
</td>
<td class="nump">$ 111,302<span></span>
</td>
<td class="nump">$ 197,433<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="nump">197,433<span></span>
</td>
<td class="nump">304,438<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">823<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="nump">1,100<span></span>
</td>
<td class="nump">4,171<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="nump">10,847<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="num">(838)<span></span>
</td>
<td class="nump">1,898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="num">(97,240)<span></span>
</td>
<td class="num">(113,897)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="nump">$ 111,302<span></span>
</td>
<td class="nump">$ 197,433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense or income relating to changes in deferred tax liabilities and deferred tax assets, recognised in profit or loss. [Refer: Deferred tax assets; Deferred tax expense (income); Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in deferred tax liability (asset) resulting from business combinations. [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in deferred tax liability (asset) resulting from the net exchange differences arising when the financial statements are translated from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of increase (decrease) in deferred tax assets due to adoption of new accounting standards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>73
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790353264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Receivables and Prepayments, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfReceivablesAndPrepaymentsTextBlock', window );">Disclosure of receivables and prepayments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">15</div></div></td> <td><div style="display: inline; font-weight: bold;">Receivables and prepayments, net</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Prepaid expenses and other receivables</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,579</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,599</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Government entities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,867</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,182</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Employee advances and loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,189</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,521</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Advances to suppliers and other advances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,180</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,467</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Government tax refunds on exports</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">670</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,896</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Receivables from related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,837</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,322</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Miscellaneous</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,145</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,682</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">109,467</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">162,669</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for other doubtful accounts (see Note 23 (i))</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,892</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,784</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">104,575</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">155,885</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfReceivablesAndPrepaymentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfReceivablesAndPrepaymentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R13.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790350960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Selling, General and Administrative Expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory', window );">Disclosure of general and administrative expense [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td>Selling, general and administrative expenses</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 22.3pt; font-size: 10pt; font-weight: bold">&nbsp;&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: justify">Services and fees</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">153,773</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">128,090</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">132,301</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Labor cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">481,854</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">470,928</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">443,338</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Depreciation of property, plant and equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,524</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,968</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,979</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Amortization of intangible assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,967</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">206,672</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">188,550</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Depreciation of right-of-use assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,564</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Commissions, freight and other selling expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">441,442</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">491,555</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">339,759</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Provisions for contingencies</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,565</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,498</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,664</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Allowances for doubtful accounts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16,256</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,751</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,421</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110,876</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">71,110</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,826</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89,665</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">99,404</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81,061</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,365,974</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,509,976</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,272,057</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,041</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,365,974</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,509,976</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,270,016</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of general and administrative expenses. [Refer: Administrative expenses]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>75
<FILENAME>R104.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6795640912">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Property, Plant and Equipment, Net - Components of Property, Plant and Equipment, Net (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 6,063,908<span></span>
</td>
<td class="nump">$ 6,229,143<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,090,017<span></span>
</td>
<td class="nump">6,063,908<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_LandAndCivilBuildingsMember', window );">Land and civil buildings [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">621,664<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">677,671<span></span>
</td>
<td class="nump">621,664<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_IndustrialBuildingsPlantAndProductionEquipmentMember', window );">Industrial buildings, plant and production equipment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,184,669<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,166,678<span></span>
</td>
<td class="nump">5,184,669<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_VehiclesFurnitureAndFixturesMember', window );">Vehicles, furniture and fixtures [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">67,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">76,758<span></span>
</td>
<td class="nump">67,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember', window );">Construction in progress [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">127,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">108,308<span></span>
</td>
<td class="nump">127,378<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_SparePartsAndEquipmentMember', window );">Spare parts and equipment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">63,197<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">60,602<span></span>
</td>
<td class="nump">63,197<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,421,982<span></span>
</td>
<td class="nump">13,246,680<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(43,307)<span></span>
</td>
<td class="num">(131,756)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">178,739<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">313,915<span></span>
</td>
<td class="nump">317,568<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(38,975)<span></span>
</td>
<td class="num">(35,909)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,232<span></span>
</td>
<td class="nump">25,399<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,836,586<span></span>
</td>
<td class="nump">13,421,982<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Land and civil buildings [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">732,578<span></span>
</td>
<td class="nump">712,061<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,611)<span></span>
</td>
<td class="num">(5,628)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">59,468<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16<span></span>
</td>
<td class="nump">723<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(35)<span></span>
</td>
<td class="num">(221)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,723<span></span>
</td>
<td class="nump">25,643<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">799,139<span></span>
</td>
<td class="nump">732,578<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Industrial buildings, plant and production equipment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12,121,569<span></span>
</td>
<td class="nump">11,954,585<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(38,961)<span></span>
</td>
<td class="num">(117,977)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">115,908<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,178<span></span>
</td>
<td class="nump">681<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(27,153)<span></span>
</td>
<td class="num">(21,836)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">296,272<span></span>
</td>
<td class="nump">306,116<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12,468,813<span></span>
</td>
<td class="nump">12,121,569<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Vehicles, furniture and fixtures [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">377,260<span></span>
</td>
<td class="nump">370,542<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,615)<span></span>
</td>
<td class="num">(5,458)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,733<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,107<span></span>
</td>
<td class="nump">1,245<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(7,110)<span></span>
</td>
<td class="num">(10,269)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,349<span></span>
</td>
<td class="nump">21,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">399,724<span></span>
</td>
<td class="nump">377,260<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Construction in progress [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">127,378<span></span>
</td>
<td class="nump">167,079<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(864)<span></span>
</td>
<td class="num">(2,269)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,630<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">299,412<span></span>
</td>
<td class="nump">294,163<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,120)<span></span>
</td>
<td class="num">(42)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(317,128)<span></span>
</td>
<td class="num">(331,553)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">108,308<span></span>
</td>
<td class="nump">127,378<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Spare parts and equipment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">63,197<span></span>
</td>
<td class="nump">42,413<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(256)<span></span>
</td>
<td class="num">(424)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12,202<span></span>
</td>
<td class="nump">20,756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,557)<span></span>
</td>
<td class="num">(3,541)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(11,984)<span></span>
</td>
<td class="nump">3,993<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">60,602<span></span>
</td>
<td class="nump">63,197<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,358,074<span></span>
</td>
<td class="nump">7,017,537<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(26,878)<span></span>
</td>
<td class="num">(78,463)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(31,542)<span></span>
</td>
<td class="num">(29,967)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(400)<span></span>
</td>
<td class="num">(498)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">447,315<span></span>
</td>
<td class="nump">449,465<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,746,569<span></span>
</td>
<td class="nump">7,358,074<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Land and civil buildings [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">110,914<span></span>
</td>
<td class="nump">101,197<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(420)<span></span>
</td>
<td class="num">(1,383)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(73)<span></span>
</td>
<td class="num">(53)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(362)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,409<span></span>
</td>
<td class="nump">11,153<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">121,468<span></span>
</td>
<td class="nump">110,914<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Industrial buildings, plant and production equipment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,936,900<span></span>
</td>
<td class="nump">6,612,871<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(24,973)<span></span>
</td>
<td class="num">(72,141)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(25,580)<span></span>
</td>
<td class="num">(21,232)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(38)<span></span>
</td>
<td class="nump">173<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">415,826<span></span>
</td>
<td class="nump">417,229<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,302,135<span></span>
</td>
<td class="nump">6,936,900<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Vehicles, furniture and fixtures [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">310,260<span></span>
</td>
<td class="nump">303,469<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,485)<span></span>
</td>
<td class="num">(4,939)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,889)<span></span>
</td>
<td class="num">(8,682)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="num">(671)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20,080<span></span>
</td>
<td class="nump">21,083<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">322,966<span></span>
</td>
<td class="nump">310,260<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Construction in progress [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Spare parts and equipment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals / Consumptions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">End of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Related to SSP acquisition. See Note 27.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in property, plant and equipment resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73_e_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73_e_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of property, plant and equipment. [Refer: Depreciation and amortisation expense; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73_e_vii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 75<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_75_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from disposals and retirements. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73_e_viii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment resulting from transfers. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_LandAndCivilBuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_LandAndCivilBuildingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_IndustrialBuildingsPlantAndProductionEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_IndustrialBuildingsPlantAndProductionEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_VehiclesFurnitureAndFixturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_VehiclesFurnitureAndFixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_SparePartsAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_SparePartsAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>76
<FILENAME>R17.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790590944">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Income Tax<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIncomeTaxExplanatory', window );">Disclosure of income tax [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">7</div></div></td> <td><div style="display: inline; font-weight: bold;">Income tax</div></td> </tr>  </table> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Current tax</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">299,692</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">343,104</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">184,016</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Deferred tax</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(97,240</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(113,897</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(100,432</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,452</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229,207</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">83,584</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(100,720</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,452</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229,207</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,136</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">The tax on Tenaris&#x2019;s income before tax differs from the theoretical amount that would arise using the tax rate in each country as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 55%; font-size: 10pt; text-align: left">Income before income tax</td> <td style="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">933,710</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,103,107</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">427,711</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax calculated at the tax rate in each country</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">186,752</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">207,422</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,456</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of currency translation on tax base</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53,296</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">77,552</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(922</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Changes in the tax rates</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(13</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,824</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(62,968</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Utilization of previously unrecognized tax losses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(547</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Tax revaluation, withholding tax and others</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(37,036</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(57,591</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,298</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">Tax charge</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,452</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229,207</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,136</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Effect of currency translation on tax base,</div> Tenaris applies the liability method to recognize deferred income tax on temporary differences between the tax bases of assets/liabilities and their carrying amounts in the financial statements. By application of this method, Tenaris recognizes gains and losses on deferred income tax due to the effect of the change in the value on the tax basis in subsidiaries (mainly Argentina and Mexico), which have a functional currency different than their local currency. These gains and losses are required by IFRS even though the revalued / devalued tax bases of the relevant assets will <div style="display: inline; font-style: italic; font: inherit;">not</div> result in any deduction / obligation for tax purposes in future periods.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Tax revaluation, withholding tax and others, </div>mainly includes a net tax income of <div style="display: inline; font-style: italic; font: inherit;">$66</div> and <div style="display: inline; font-style: italic; font: inherit;">$65</div> million for <div style="display: inline; font-style: italic; font: inherit;">2019</div> and <div style="display: inline; font-style: italic; font: inherit;">2018</div> respectively related to the tax revaluation regime in Argentina and Mexico; it also includes a charge of <div style="display: inline; font-style: italic; font: inherit;">$34</div> and <div style="display: inline; font-style: italic; font: inherit;">$26</div> million for <div style="display: inline; font-style: italic; font: inherit;">2019</div> and <div style="display: inline; font-style: italic; font: inherit;">2018</div> respectively related to withholding taxes for intra group international operations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Changes in the tax rates</div>, in <div style="display: inline; font-style: italic; font: inherit;">2017</div> it includes mainly the effect of the changes in tax rate in Argentine and US subsidiaries for approximately <div style="display: inline; font-style: italic; font: inherit;">$46</div> million and <div style="display: inline; font-style: italic; font: inherit;">$15</div> million respectively.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfIncomeTaxExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IAS12_g79-88_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIncomeTaxExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>77
<FILENAME>R100.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6789513072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Income Tax - Summary of Income Tax Expense (Benefit) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncome', window );">Current tax</a></td>
<td class="nump">$ 299,692<span></span>
</td>
<td class="nump">$ 343,104<span></span>
</td>
<td class="nump">$ 184,016<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncome', window );">Deferred tax</a></td>
<td class="num">(97,240)<span></span>
</td>
<td class="num">(113,897)<span></span>
</td>
<td class="num">(100,432)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncomeTaxesAccrued', window );">Income taxes accrued</a></td>
<td class="nump">202,452<span></span>
</td>
<td class="nump">229,207<span></span>
</td>
<td class="nump">83,584<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations', window );">From discontinued operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(100,720)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Tax income (expense)</a></td>
<td class="nump">$ 202,452<span></span>
</td>
<td class="nump">$ 229,207<span></span>
</td>
<td class="num">$ (17,136)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 80<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_80_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense (income) relating to changes in deferred tax liabilities and deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_IncomeTaxesAccrued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income taxes accrued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_IncomeTaxesAccrued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax expense relating to the profit (loss) arising from ordinary activities of discontinued operations and on the tax expense relating to the gain (loss) on discontinuance when operations are discontinued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesAndDiscontinuanceOfDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>78
<FILENAME>R108.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796760528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Right-of-use Assets, Net and Lease Liabilities (Details Textual) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Jan. 01, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashOutflowForLeases', window );">Cash outflow for leases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16', window );">Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.40%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed', window );">Expense relating to short-term leases for which recognition exemption has been used</a></td>
<td class="nump">$ 15.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed', window );">Expense relating to leases of low-value assets for which recognition exemption has been used</a></td>
<td class="nump">$ 1.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RemainingLeasePaymentsToBeMadePercentage', window );">Remaining lease payments to be made, percentage</a></td>
<td class="nump">16.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">Later than one year and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RemainingLeasePaymentsToBeMadePercentage', window );">Remaining lease payments to be made, percentage</a></td>
<td class="nump">44.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RemainingLeasePaymentsToBeMadePercentage', window );">Remaining lease payments to be made, percentage</a></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashOutflowForLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 53<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_53_g&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashOutflowForLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the expense relating to leases of low-value assets accounted for applying paragraph 6 of IFRS 16. This expense shall not include the expense relating to short-term leases of low-value assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 53<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_53_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the expense relating to short-term leases accounted for applying paragraph 6 of IFRS 16. This expense need not include the expense relating to leases with a lease term of one month or less. Short-term lease is a lease that, at the commencement date, has a lease term of 12 months or less. A lease that contains a purchase option is not a short-term lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 53<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_53_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average lessee's incremental borrowing rate applied to lease liabilities recognised in the statement of financial position at the date of initial application of IFRS 16. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph C12<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_C12_a&amp;doctype=Appendix&amp;subtype=C<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RemainingLeasePaymentsToBeMadePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of total remaining payments to be made.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RemainingLeasePaymentsToBeMadePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>R34.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803984512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Derivative Financial Instruments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory', window );">Disclosure of derivative financial instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 2.75pt"></td> <td style="width: 36pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">24</div></div></td> <td><div style="display: inline; font-weight: bold;">Derivative financial instruments </div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic">Net fair values of derivative financial instruments</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The net fair values of derivative financial instruments, in accordance with IFRS <div style="display: inline; font-style: italic; font: inherit;">13,</div> are:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Derivatives hedging borrowings and investments</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,000</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,604</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other Derivatives</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">929</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,621</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Contracts with positive fair values (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,929</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,225</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Derivatives hedging borrowings and investments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,667</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other Derivatives</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(311</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Contracts with negative fair values</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,978</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,115</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,753</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; background-color: white">(*) In <div style="display: inline; font-style: italic; font: inherit;">2018</div> includes <div style="display: inline; font-style: italic; font: inherit;">$52</div> thousand of non-current derivatives.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: normal"><div style="display: inline; font-style: italic;">Foreign exchange derivative contracts and hedge accounting</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris applies hedge accounting to certain cash flow hedges of highly probable forecast transactions. The net fair values of exchange rate derivatives and those derivatives that were designated for hedge accounting as of <div style="display: inline; font-style: italic; font: inherit;"> December 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> were as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center">Fair Value</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center">Hedge Accounting Reserve</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Purchase currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Sell currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Term</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 14%; font-size: 10pt">MXN</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 14%; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USD</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,999</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">888</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">404</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(411</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">MXN</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(576</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">ARS</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,542</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(895</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">588</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">203</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">JPY</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2030</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,149</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">BRL</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(234</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(131</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">JPY</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(190</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">271</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">KWD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">103</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">522</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">390</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">CAD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(200</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,089</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">COP</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(345</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(23</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(30</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(30</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,115</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,753</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,591</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(916</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 153 -->   <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"><div style="display: inline; font-style: normal"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"><div style="display: inline; font-style: normal">Following is a summary of the hedge reserve evolution:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"><div style="display: inline; font-style: normal">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity Reserve <br /> Dec-17</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Movements <br /> 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity Reserve <br /> Dec-18</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Movements <br /> 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity Reserve<br /> Dec-19</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left; padding-bottom: 1pt">Foreign Exchange</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(240</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(676</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(916</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,507</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,591</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total Cash flow Hedge</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(240</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(676</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(916</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,507</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,591</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic"><div style="display: inline; font-style: normal">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris estimates that the cash flow hedge reserve corresponding to derivatives instruments at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>will be recycled to the Consolidated Income Statement during <div style="display: inline; font-style: italic; font: inherit;">2020.</div> For information on lease liabilities, see Note <div style="display: inline; font-style: italic; font: inherit;">11.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of derivative financial instruments. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>80
<FILENAME>R123.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808506944">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 19 - Borrowings - Non-current and Current Borrowings (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentCostsOfIssueOfDebt', window );">Non-current costs of issue of debt</a></td>
<td class="num">$ (16)<span></span>
</td>
<td class="num">$ (27)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Total non-current portion of non-current borrowings</a></td>
<td class="nump">40,880<span></span>
</td>
<td class="nump">29,187<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentCostsOfIssueOfDebt', window );">Current costs of issue of debt</a></td>
<td class="num">(10)<span></span>
</td>
<td class="num">(11)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Total current borrowings and current portion of non-current borrowings</a></td>
<td class="nump">781,272<span></span>
</td>
<td class="nump">509,820<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Borrowings</a></td>
<td class="nump">822,152<span></span>
</td>
<td class="nump">539,007<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_BankBorrowingsMember', window );">Bank borrowings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Non-current borrowings before costs of issue of debt</a></td>
<td class="nump">40,896<span></span>
</td>
<td class="nump">29,214<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Current borrowings before costs of issue of debt</a></td>
<td class="nump">781,258<span></span>
</td>
<td class="nump">508,143<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_BankOverdrafts1Member', window );">Bank overdrafts [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Current borrowings before costs of issue of debt</a></td>
<td class="nump">24<span></span>
</td>
<td class="nump">1,644<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember', window );">Finance lease liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Non-current borrowings before costs of issue of debt</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 44<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings and current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings before the costs of issue of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentBorrowingsBeforeCostsOfIssueOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentCostsOfIssueOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs of issue of debt classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentCostsOfIssueOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current borrowings before the costs of issue of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NoncurrentCostsOfIssueOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs of issue of debt classified as non-current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NoncurrentCostsOfIssueOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ts_BankBorrowingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ts_BankBorrowingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ts_BankOverdrafts1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ts_BankOverdrafts1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803980304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 20 - Deferred Income Tax<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDeferredTaxesExplanatory', window );">Disclosure of deferred taxes [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">20</div></div></td> <td><div style="display: inline; font-weight: bold;">Deferred income tax</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 22.3pt; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">Deferred income taxes are calculated in full on temporary differences under the liability method using the tax rate of each country.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The evolution of deferred tax assets and liabilities during the year are as follows:</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; font-weight: bold">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Deferred tax liabilities</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fixed assets (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Intangible and Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">710,995</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,048</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46,532</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">782,575</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(347</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(351</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,621</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,209</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,830</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">423</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">423</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge / (credit)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(64,930</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,652</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59,902</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,680</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">651,339</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,396</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,062</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">788,797</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fixed assets (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Intangible and Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">744,926</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,934</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,585</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">835,445</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(876</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">92</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(784</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">288</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">288</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(33,055</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,886</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,468</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(52,409</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">710,995</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,048</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46,532</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">782,575</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">(*) Includes the effect of currency translation on tax base. See Note <div style="display: inline; font-style: italic; font: inherit;">7.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 148 -->   <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Deferred tax assets</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Provisions and<br /> allowances</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tax losses</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16,116</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,585</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(396,257</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,184</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(585,142</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">362</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">306</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">497</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">286</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,160</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,413</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,172</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,238</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,983</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,261</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,261</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge / (credit)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,739</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,712</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,100</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(92,209</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,560</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(19,653</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(93,404</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(382,832</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(181,606</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(677,495</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Provisions and<br /> allowances</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tax losses</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(26,475</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(89,555</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(354,944</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(60,033</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(531,007</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">952</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(164</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">788</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,532</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,447</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,014</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,955</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,587</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,610</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge / (credit)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,852</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,523</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(42,327</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27,536</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(61,488</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16,116</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,585</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(396,257</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,184</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(585,142</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;">2019</div> the effect of the adoption of IFRS <div style="display: inline; font-style: italic; font: inherit;">16</div> has been recognized as &#x201c;Other&#x201d; both for deferred tax assets and liabilities.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets related to taxable losses of Tenaris subsidiaries are recognized to the extent it is considered probable that future taxable profits will be available against which such losses can be utilized in the foreseeable future. This amount includes <div style="display: inline; font-style: italic; font: inherit;">$338</div> million related to US subsidiaries mainly due to the recognition of accelerated fiscal depreciations. The remaining balance mainly corresponds to Japanese and Brazilian subsidiaries. These subsidiaries have incurred in fiscal losses in the past. Tenaris has concluded that these deferred tax assets will be recoverable based on the business plans and budgets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The expiration dates of the recognized tax losses in less than <div style="display: inline; font-style: italic; font: inherit;">1</div> year, between <div style="display: inline; font-style: italic; font: inherit;">2</div> and <div style="display: inline; font-style: italic; font: inherit;">5</div> years and in more than <div style="display: inline; font-style: italic; font: inherit;">5</div> years is <div style="display: inline; font-style: italic; font: inherit;">0.2%,</div> <div style="display: inline; font-style: italic; font: inherit;">2.5%</div> and <div style="display: inline; font-style: italic; font: inherit;">97.3%</div> respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the net unrecognized deferred tax assets amount to <div style="display: inline; font-style: italic; font: inherit;">$121.2</div> million. The expiration dates of the unrecognized tax losses less than <div style="display: inline; font-style: italic; font: inherit;">1</div> year, between <div style="display: inline; font-style: italic; font: inherit;">2</div> and <div style="display: inline; font-style: italic; font: inherit;">5</div> years and more than <div style="display: inline; font-style: italic; font: inherit;">5</div> years is approximately <div style="display: inline; font-style: italic; font: inherit;">2.8%,</div> <div style="display: inline; font-style: italic; font: inherit;">20.2%</div> and <div style="display: inline; font-style: italic; font: inherit;">77%.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The estimated recovery analysis of deferred tax assets and deferred tax liabilities is as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Deferred tax assets to be recovered after 12 months</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(538,274</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(452,330</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities to be settled after 12 months</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">766,852</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">739,670</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred income tax assets and liabilities are offset when (<div style="display: inline; font-style: italic; font: inherit;">1</div>) there is a legally enforceable right to set-off current tax assets against current tax liabilities and (<div style="display: inline; font-style: italic; font: inherit;">2</div>) when the deferred income taxes relate to the same fiscal authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. The following amounts, determined after appropriate set-off, are shown in the Consolidated Statement of Financial Position:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Deferred tax assets</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(225,680</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(181,606</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred tax liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">336,982</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">379,039</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">111,302</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">197,433</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The movement in the net deferred income tax liability account is as follows:</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">197,433</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">304,438</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">823</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,100</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,171</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,847</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Charged directly to Other Comprehensive Income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(838</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,898</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement credit</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(97,240</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(113,897</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">111,302</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">197,433</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDeferredTaxesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDeferredTaxesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>82
<FILENAME>R127.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6775155344">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 19 - Borrowings - Borrowings by Currency and Rate (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Borrowings</a></td>
<td class="nump">$ 40,880<span></span>
</td>
<td class="nump">$ 29,187<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">781,272<span></span>
</td>
<td class="nump">509,820<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">United States of America, Dollars | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Borrowings</a></td>
<td class="nump">18,370<span></span>
</td>
<td class="nump">18,762<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">274,799<span></span>
</td>
<td class="nump">138,303<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">United States of America, Dollars | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">17,092<span></span>
</td>
<td class="nump">16,847<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=currency_SAR', window );">Saudi Arabia, Riyals | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Borrowings</a></td>
<td class="nump">16,106<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">24,797<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=currency_SAR', window );">Saudi Arabia, Riyals | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">35,666<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">Euro Member Countries, Euro | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Borrowings</a></td>
<td class="nump">5,108<span></span>
</td>
<td class="nump">9,023<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">3,772<span></span>
</td>
<td class="nump">4,178<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">Euro Member Countries, Euro | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Borrowings</a></td>
<td class="nump">1,296<span></span>
</td>
<td class="nump">1,402<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">80<span></span>
</td>
<td class="nump">198<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexico, Pesos | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">424,964<span></span>
</td>
<td class="nump">301,047<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=currency_ARS', window );">Argentina, Pesos | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">86<span></span>
</td>
<td class="nump">49,125<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=ts_OtherCurrencyMember', window );">Other currency [member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CurrencyAxis=ts_OtherCurrencyMember', window );">Other currency [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">$ 16<span></span>
</td>
<td class="nump">$ 89<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings and current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_USD">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_USD</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_SAR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_SAR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_EUR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_EUR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_MXN">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_MXN</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_ARS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_ARS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=ts_OtherCurrencyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=ts_OtherCurrencyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>83
<FILENAME>R38.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790606528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 28 - Cash Flow Disclosures<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCashFlowStatementExplanatory', window );">Disclosure of cash flow statement [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 38.75pt"><div style="display: inline; font-style: italic; font: inherit;">28</div></td> <td style="text-align: justify">Cash flow disclosures</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 2.75pt; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left; font-size: 10pt">(i)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">Changes in working capital</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 3%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 56%; font-size: 10pt">Inventories</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">311,459</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(176,443</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(804,415</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Receivables and prepayments and Current tax assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(34,368</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,144</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,564</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,326</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(517,579</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(259,375</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Other liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(18,295</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(22,984</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,226</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Customer advances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,844</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,976</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,039</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Trade payables</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(180,857</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(57,066</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">193,905</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">523,109</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(737,952</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(853,184</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">(ii)</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Income tax accruals less payments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Tax accrued</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,452</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229,207</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,136</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Taxes paid</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(395,869</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(170,713</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(176,853</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(193,417</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">58,494</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(193,989</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">(iii)</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Interest accruals less payments, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Interest accrued</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,616</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,914</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(20,534</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Interest received</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,890</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,613</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">50,001</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest paid</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(30,655</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(31,548</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,917</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,381</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,151</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,550</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">(iv)</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Cash and cash equivalents</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Cash at banks, liquidity funds and short - term investments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,554,299</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,361</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">330,221</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bank overdrafts</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(24</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,644</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(131</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,554,275</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">426,717</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">330,090</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfCashFlowStatementExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for a statement of cash flows.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Section Presentation of a statement of cash flows<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IAS07_g10-17_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfCashFlowStatementExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>84
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808756048">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statement of Comprehensive Income - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 731,258<span></span>
</td>
<td class="nump">$ 873,900<span></span>
</td>
<td class="nump">$ 536,389<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract', window );"><strong>Items that may be subsequently reclassified to profit or loss:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation', window );">Currency translation adjustment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(27,294)<span></span>
</td>
<td class="num">(96,916)<span></span>
</td>
<td class="nump">151,762<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges', window );">Change in value of cash flow hedges and instruments at fair value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,039<span></span>
</td>
<td class="num">(6,701)<span></span>
</td>
<td class="nump">4,502<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss', window );">Income tax relating to components of other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(707)<span></span>
</td>
<td class="nump">34<span></span>
</td>
<td class="nump">23<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies', window );">- Currency translation adjustment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(10,781)<span></span>
</td>
<td class="nump">1,848<span></span>
</td>
<td class="num">(9,548)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies', window );">- Changes in the fair value of derivatives held as cash flow hedges and others</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">812<span></span>
</td>
<td class="num">(132)<span></span>
</td>
<td class="nump">512<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax', window );">Total other comprehensive income that will be reclassified to profit or loss, net of tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(34,931)<span></span>
</td>
<td class="num">(101,867)<span></span>
</td>
<td class="nump">147,251<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract', window );"><strong>Items that will not be reclassified to profit or loss:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Remeasurements of post employment benefit obligations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,272)<span></span>
</td>
<td class="nump">7,963<span></span>
</td>
<td class="num">(8,635)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss', window );">Income tax on items that will not be reclassified</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,545<span></span>
</td>
<td class="num">(1,932)<span></span>
</td>
<td class="nump">1,338<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax', window );">Remeasurements of post employment benefit obligations of non-consolidated companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,878)<span></span>
</td>
<td class="num">(3,855)<span></span>
</td>
<td class="num">(376)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax', window );">Total other comprehensive income that will not be reclassified to profit or loss, net of tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(17,605)<span></span>
</td>
<td class="nump">2,176<span></span>
</td>
<td class="num">(7,673)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive (loss) income for the year, net of tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(52,536)<span></span>
</td>
<td class="num">(99,691)<span></span>
</td>
<td class="nump">139,578<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">678,722<span></span>
</td>
<td class="nump">774,209<span></span>
</td>
<td class="nump">675,967<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract', window );"><strong>Total comprehensive income (loss) for the year attributable to:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Owners of the parent</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">690,095<span></span>
</td>
<td class="nump">776,713<span></span>
</td>
<td class="nump">683,531<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(11,373)<span></span>
</td>
<td class="num">(2,504)<span></span>
</td>
<td class="num">(7,564)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">678,722<span></span>
</td>
<td class="nump">774,209<span></span>
</td>
<td class="nump">675,967<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract', window );"><strong>Total comprehensive income (loss) for the year attributable to Owners of the parent arises from</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ComprehensiveIncomeFromContinuingOperations', window );">Continuing operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">690,095<span></span>
</td>
<td class="nump">776,713<span></span>
</td>
<td class="nump">591,989<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ComprehensiveIncomeFromDiscontinuedOperations', window );">Discontinued operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">91,542<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Comprehensive income, attributable to owners of parent</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 690,095<span></span>
</td>
<td class="nump">$ 776,713<span></span>
</td>
<td class="nump">$ 683,531<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Since 2018 Tenaris recognizes its share over the effects on the adoption of IAS 29, "Financial Reporting in Hyperinflationary Economies" by Ternium in other comprehensive income as a currency translation adjustment.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to non-controlling interests. [Refer: Comprehensive income; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81B_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81B_b_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income that will be reclassified to profit or loss. [Refer: Income tax relating to components of other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income that will not be reclassified to profit or loss. [Refer: Income tax relating to components of other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81A<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, related to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income, before tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, related to exchange differences on translation of financial statements of foreign operations. [Refer: Other comprehensive income, before tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income, before tax; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income that will be reclassified to profit or loss, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income that will not be reclassified to profit or loss, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2019-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2019-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2019-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share of the other comprehensive income of associates and joint ventures accounted for using the equity method that will not be reclassified to profit or loss, net of tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ComprehensiveIncomeFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity from continuing operations resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ComprehensiveIncomeFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ComprehensiveIncomeFromDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity from discontinued operations resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ComprehensiveIncomeFromDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, attributable to non-consolidated companies related to derivatives held as cash flow hedges and others.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOthersAttributableToNonconsolidatedCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income (loss), before tax, attributable to non-consolidated companies related to exchange differences when financial statements of foreign operations are translated</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TotalComprehensiveIncomeLossForTheYearAttributableToOwnersOfTheParentArisesFromAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>85
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808660992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statement of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Income for the year</a></td>
<td class="nump">$ 731,258<span></span>
</td>
<td class="nump">$ 873,900<span></span>
</td>
<td class="nump">$ 536,389<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract', window );"><strong>Adjustments for:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">539,521<span></span>
</td>
<td class="nump">664,357<span></span>
</td>
<td class="nump">608,640<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncomeTaxExpense', window );">Income tax accruals less payments</a></td>
<td class="num">(193,417)<span></span>
</td>
<td class="nump">58,494<span></span>
</td>
<td class="num">(193,989)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates', window );">Equity in earnings of non-consolidated companies</a></td>
<td class="num">(82,036)<span></span>
</td>
<td class="num">(193,994)<span></span>
</td>
<td class="num">(116,140)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Interest accruals less payments, net</a></td>
<td class="num">(4,381)<span></span>
</td>
<td class="nump">6,151<span></span>
</td>
<td class="nump">11,550<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForProvisions', window );">Changes in provisions</a></td>
<td class="nump">2,739<span></span>
</td>
<td class="num">(8,396)<span></span>
</td>
<td class="num">(17,245)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets', window );">Income from the sale of Conduit business</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(89,694)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInWorkingCapital', window );">Changes in working capital</a></td>
<td class="nump">523,109<span></span>
</td>
<td class="num">(737,952)<span></span>
</td>
<td class="num">(853,184)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherAdjustmentsForNoncashItems', window );">Currency translation adjustment and others</a></td>
<td class="nump">11,146<span></span>
</td>
<td class="num">(51,758)<span></span>
</td>
<td class="nump">91,648<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash provided by (used in) operating activities</a></td>
<td class="nump">1,527,939<span></span>
</td>
<td class="nump">610,802<span></span>
</td>
<td class="num">(22,025)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="num">(350,174)<span></span>
</td>
<td class="num">(349,473)<span></span>
</td>
<td class="num">(558,236)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities', window );">Changes in advance to suppliers of property, plant and equipment</a></td>
<td class="nump">3,820<span></span>
</td>
<td class="nump">4,851<span></span>
</td>
<td class="nump">7,077<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations', window );">Proceeds from disposal of Conduit business</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">327,631<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Acquisition of subsidiaries, net of cash acquired</a></td>
<td class="num">(132,845)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(10,418)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Investment in companies under cost method</a></td>
<td class="num">(2,933)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(3,681)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfInterestsInAssociates', window );">Investment in non-consolidated companies</a></td>
<td class="num">(19,610)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAdvancesAndLoansMadeToRelatedParties', window );">Loan to non-consolidated companies</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(14,740)<span></span>
</td>
<td class="num">(10,956)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties', window );">Repayment of loan by non-consolidated companies</a></td>
<td class="nump">40,470<span></span>
</td>
<td class="nump">9,370<span></span>
</td>
<td class="nump">3,900<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Proceeds from disposal of property, plant and equipment and intangible assets</a></td>
<td class="nump">2,091<span></span>
</td>
<td class="nump">6,010<span></span>
</td>
<td class="nump">5,443<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities', window );">Dividends received from non-consolidated companies</a></td>
<td class="nump">28,974<span></span>
</td>
<td class="nump">25,722<span></span>
</td>
<td class="nump">22,971<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments', window );">Changes in investments in securities</a></td>
<td class="nump">389,815<span></span>
</td>
<td class="nump">717,368<span></span>
</td>
<td class="nump">565,387<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash (used in) provided by investing activities</a></td>
<td class="num">(40,392)<span></span>
</td>
<td class="nump">399,108<span></span>
</td>
<td class="nump">349,118<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="num">(484,020)<span></span>
</td>
<td class="num">(484,020)<span></span>
</td>
<td class="num">(484,020)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities', window );">Dividends paid to non-controlling interest in subsidiaries</a></td>
<td class="num">(1,872)<span></span>
</td>
<td class="num">(3,498)<span></span>
</td>
<td class="num">(24,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Changes in non-controlling interests</a></td>
<td class="nump">1<span></span>
</td>
<td class="num">(24)<span></span>
</td>
<td class="num">(49)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities', window );">Payments of lease liabilities</a></td>
<td class="num">(41,530)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="nump">1,332,716<span></span>
</td>
<td class="nump">1,019,302<span></span>
</td>
<td class="nump">1,196,781<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of borrowings</a></td>
<td class="num">(1,159,053)<span></span>
</td>
<td class="num">(1,432,202)<span></span>
</td>
<td class="num">(1,090,129)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash used in financing activities</a></td>
<td class="num">(353,758)<span></span>
</td>
<td class="num">(900,442)<span></span>
</td>
<td class="num">(401,417)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges', window );">Increase (decrease) in cash and cash equivalents</a></td>
<td class="nump">1,133,789<span></span>
</td>
<td class="nump">109,468<span></span>
</td>
<td class="num">(74,324)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_MovementInCashAndCashEquivalentsAbstract', window );"><strong>Movement in cash and cash equivalents</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition', window );">At the beginning of the year</a></td>
<td class="nump">426,717<span></span>
</td>
<td class="nump">330,090<span></span>
</td>
<td class="nump">398,580<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents', window );">Effect of exchange rate changes</a></td>
<td class="num">(6,231)<span></span>
</td>
<td class="num">(12,841)<span></span>
</td>
<td class="nump">5,834<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Increase (decrease) in cash and cash equivalents</a></td>
<td class="nump">1,133,789<span></span>
</td>
<td class="nump">109,468<span></span>
</td>
<td class="num">(74,324)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition', window );">At December 31,</a></td>
<td class="nump">1,554,275<span></span>
</td>
<td class="nump">426,717<span></span>
</td>
<td class="nump">330,090<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup', window );">Cash and bank deposits</a></td>
<td class="nump">1,554,299<span></span>
</td>
<td class="nump">428,361<span></span>
</td>
<td class="nump">330,221<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents', window );">Bank overdrafts</a></td>
<td class="num">$ (24)<span></span>
</td>
<td class="num">$ (1,644)<span></span>
</td>
<td class="num">$ (131)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation and amortisation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Depreciation and amortisation expense; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncomeTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for income tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncomeTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for losses (gains) on disposal of non-current assets to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Non-current assets; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 14<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_14&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for provisions to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Provisions; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForReconcileProfitLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for undistributed profits of associates to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Associates [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForUndistributedProfitsOfAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that has been withdrawn from an account in excess of existing cash balances. This is considered a short-term extension of credit by the bank. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankOverdraftsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAdvancesAndLoansMadeToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for loans and advances made to related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAdvancesAndLoansMadeToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents in the statement of cash flows when different from the amount of cash and cash equivalents in the statement of financial position. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to a decrease (increase) in short-term deposits and investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the repayment of advances and loans made to other parties (other than advances and loans of a financial institution), classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_f&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from repayment to the entity of loans and advances made to related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for dividends paid by the entity, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for dividends paid to non-controlling interests, classified as financing activities. [Refer: Non-controlling interests; Dividends paid to non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow representing dividends received from associates, classified as investing activities. [Refer: Associates [member]; Dividends received]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents before the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInWorkingCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in working capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInWorkingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRevenueExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense arising from interest. [Refer: Interest expense; Interest income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRevenueExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherAdjustmentsForNoncashItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for non-cash items to reconcile profit (loss) to net cash flow from (used in) operating activities that the entity does not separately disclose in the same statement or note. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherAdjustmentsForNoncashItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payment of lease liabilities, classified as financing activities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal of non-current assets or disposal groups classified as held for sale and discontinued operations. [Refer: Discontinued operations [member]; Disposal groups classified as held for sale [member]; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets. [Refer: Intangible assets other than goodwill; Investment property; Other non-current assets; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2019-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2019-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2019-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfInterestsInAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of interests in associates. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfInterestsInAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of investments other than investments accounted for using equity method. [Refer: Investments accounted for using equity method; Investments other than investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets. [Refer: Intangible assets other than goodwill; Investment property; Other non-current assets; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value as well as cash and cash equivalents are classified as a part of a disposal group.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_MovementInCashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_MovementInCashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) from changes in ownership interests in subsidiaries that do not result in a loss of control.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6775491888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Right-of-use Assets, Net and Lease Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RightofuseAssetsEvolutionTextBlock', window );">Right-of-use assets evolution [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and Civil<br /> Buildings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Industrial <br /> Buildings, Plant <br /> and Production<br /> Equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vehicles, furniture<br /> and fixtures</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 48%; font-size: 10pt; text-align: justify">Opening net book amount</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,713</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,352</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,335</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">238,400</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,038</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,267</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Currency translation adjustment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(88</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(74</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,292</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,985</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,165</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,442</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Disposals</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,009</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,488</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(818</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,315</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Transfers</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">496</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(496</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,137</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">225,389</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,194</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">275,720</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,514</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,869</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,908</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">44,291</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(62</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">62</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Disposals / Consumptions</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(181</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,229</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(295</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,705</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,330</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,581</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,683</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,594</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,807</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194,808</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,511</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">233,126</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LeaseLiabilityEvolutionTextBlock', window );">Lease liability evolution [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 87%; font-size: 10pt; text-align: left">Opening net book amount</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">234,149</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,267</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,690</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,957</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Cancellations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,688</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Repayments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(43,974</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest accrued</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,766</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">230,167</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LeaseLiabilityEvolutionTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Text block disclosure for the evolution of the lease liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LeaseLiabilityEvolutionTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RightofuseAssetsEvolutionTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Text block disclosure of the evolution of right-of-use assets during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RightofuseAssetsEvolutionTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>87
<FILENAME>R146.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797442560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Derivative Financial Instruments - Hedge Reserve Evolution (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="num">$ (900)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="num">$ (900)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember', window );">Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="num">(916)<span></span>
</td>
<td class="num">(240)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Movements</a></td>
<td class="nump">3,507<span></span>
</td>
<td class="num">(676)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="nump">2,591<span></span>
</td>
<td class="num">(916)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeDerivativesContractsMember', window );">Foreign exchange derivatives contracts [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="num">(916)<span></span>
</td>
<td class="num">(240)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Movements</a></td>
<td class="nump">3,507<span></span>
</td>
<td class="num">(676)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="nump">$ 2,591<span></span>
</td>
<td class="num">$ (916)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gain (loss) on the change in fair value of the hedged item used as a basis for recognising hedge ineffectiveness. Hedge ineffectiveness is the extent to which the changes in the fair value or the cash flows of the hedging instrument are greater or less than those on the hedged item.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 24B<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24B_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 24B<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24B_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnChangeInFairValueOfHedgedItemUsedAsBasisForRecognisingHedgeIneffectiveness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the reserve of cash flow hedges in relation to continuing hedges. [Refer: Reserve of cash flow hedges]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 24B<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24B_b_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfCashFlowHedgesContinuingHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeDerivativesContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeDerivativesContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>88
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790645344">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Cost of Sales (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock', window );">Disclosure of detailed information about cost of sales [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; font-weight: bold; text-align: justify">Inventories at the beginning of the year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,524,341</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,368,304</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,563,889</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase in inventory due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,966</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Plus: Charges of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Raw materials, energy, consumables and other</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,709,629</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,400,396</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,794,503</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Services and fees</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">222,415</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">275,130</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">244,035</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Labor cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">870,261</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">855,040</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">778,408</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Depreciation of property, plant and equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,791</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">432,497</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">383,490</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Amortization of intangible assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,948</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,220</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,621</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Depreciation of right-of-use assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,727</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Maintenance expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">284,758</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">185,782</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">183,370</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Allowance for obsolescence</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,138</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,457</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(12,917</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">100,738</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">133,308</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,542</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115,663</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">119,507</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">88,823</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,849,034</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,435,337</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,496,875</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Less: Inventories at the end of the year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,265,880</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,524,341</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,368,304</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,403</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,107,495</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,279,300</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,685,057</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutCostOfSalesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>89
<FILENAME>R142.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6820716144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Current Allowances and Provisions - Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ts_SalesRisksMember', window );">Sales risks [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the beginning of the year</a></td>
<td class="nump">$ 6,814<span></span>
</td>
<td class="nump">$ 11,396<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences</a></td>
<td class="num">(28)<span></span>
</td>
<td class="num">(103)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Increase due to business combinations</a></td>
<td class="nump">505<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AdditionalProvisionsOtherProvisionsReversals', window );">Additional/ reversals provisions</a></td>
<td class="nump">11,880<span></span>
</td>
<td class="nump">2,638<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions', window );">Reclassifications</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Used</a></td>
<td class="num">(13,304)<span></span>
</td>
<td class="num">(7,117)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the end of the year</a></td>
<td class="nump">5,867<span></span>
</td>
<td class="nump">6,814<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember', window );">Miscellaneous other provisions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the beginning of the year</a></td>
<td class="nump">17,469<span></span>
</td>
<td class="nump">20,934<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences</a></td>
<td class="num">(570)<span></span>
</td>
<td class="num">(2,205)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Increase due to business combinations</a></td>
<td class="nump">8,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AdditionalProvisionsOtherProvisionsReversals', window );">Additional/ reversals provisions</a></td>
<td class="num">(3,219)<span></span>
</td>
<td class="nump">6,463<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions', window );">Reclassifications</a></td>
<td class="num">(5,641)<span></span>
</td>
<td class="nump">2,406<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Used</a></td>
<td class="num">(4,889)<span></span>
</td>
<td class="num">(10,129)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the end of the year</a></td>
<td class="nump">11,150<span></span>
</td>
<td class="nump">17,469<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ts_ProvisionsForCurrentLiabilitiesMember', window );">Provision for current liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the beginning of the year</a></td>
<td class="nump">24,283<span></span>
</td>
<td class="nump">32,330<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences</a></td>
<td class="num">(598)<span></span>
</td>
<td class="num">(2,308)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Increase due to business combinations</a></td>
<td class="nump">8,505<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AdditionalProvisionsOtherProvisionsReversals', window );">Additional/ reversals provisions</a></td>
<td class="nump">8,661<span></span>
</td>
<td class="nump">9,101<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions', window );">Reclassifications</a></td>
<td class="num">(5,641)<span></span>
</td>
<td class="nump">2,406<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Used</a></td>
<td class="num">(18,193)<span></span>
</td>
<td class="num">(17,246)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the end of the year</a></td>
<td class="nump">$ 17,017<span></span>
</td>
<td class="nump">$ 24,283<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in other provisions resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from foreign currency exchange rate changes on provisions measured in a currency different from the entity's presentation currency. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from transfers and changes that the entity does not separately disclose in the same statement or note. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionUsedOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount used (ie incurred and charged against the provision) for other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionUsedOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_AdditionalProvisionsOtherProvisionsReversals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additional other provisions (reversals) made.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_AdditionalProvisionsOtherProvisionsReversals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ts_SalesRisksMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ts_SalesRisksMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ts_ProvisionsForCurrentLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ts_ProvisionsForCurrentLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>90
<FILENAME>R55.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790358112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Financial Results (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost', window );">Disclosure of detailed information about financial income (cost) [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 55%; font-size: 10pt; text-align: justify">Interest Income</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,061</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,244</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">51,525</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify">Net result on changes in FV of financial assets at FVPL</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(64</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,388</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,920</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Finance income (*)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,997</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">39,856</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,605</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Finance cost</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(43,381</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(36,942</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27,072</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Net foreign exchange transactions results (**)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,868</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,845</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(48,955</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-size: 10pt; text-align: justify">Foreign exchange derivatives contracts results (***)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,616</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,576</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(8,996</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt; font-size: 10pt; text-align: justify">Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,585</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,035</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,392</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: justify">Other financial results</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,667</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,386</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(43,559</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Net financial results</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,283</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,300</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(23,026</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,283</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,300</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(23,017</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about financial income (cost). [Refer: Finance income (cost)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutFinancialIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>91
<FILENAME>R161.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6802956208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 33 - Nationalization of Venezuelan Subsidiaries (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 12, 2016</div></th>
<th class="th"><div>Jan. 29, 2016</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivables', window );">Total trade and other non-current receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 157,103<span></span>
</td>
<td class="nump">$ 151,905<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=country_VE', window );">VENEZUELA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivables', window );">Total trade and other non-current receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_MatesiMaterialesSiderrgicosSaMember', window );">Matesi Materiales Sider&#250;rgicos S.A [member] | VENEZUELA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest', window );">Nationalization of subsidiaries, compensation award not including pre-award interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 87,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NationalizationOfSubsidiariesPreawardInterest', window );">Nationalization of subsidiaries, pre-award interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest', window );">Nationalization of subsidiaries, compensation award including pre-award interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 172,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NationalizationOfSubsidiariesPostawardInterestRate', window );">Nationalization of subsidiaries, post-award interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest', window );">Nationalization of subsidiaries, compensation award post-award interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">71,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TavsaAndComsiguaMember', window );">Tavsa and Comsigua [member] | VENEZUELA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest', window );">Nationalization of subsidiaries, compensation award including pre-award interest</a></td>
<td class="nump">$ 137,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NationalizationOfSubsidiariesReimbursementOfLegalFees', window );">Nationalization of subsidiaries, reimbursement of legal fees</a></td>
<td class="nump">$ 3,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate', window );">Nationalization of subsidiaries, basis spread on variable rate</a></td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestReceivable', window );">Interest receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 118,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest recognised as a receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables and non-current other receivables. [Refer: Non-current trade receivables; Other non-current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the interest receivable associated with the nationalization of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NationalizationOfSubsidiariesBasisSpreadOnVariableRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount awarded, including pre-award interest, as compensation for the nationalization of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NationalizationOfSubsidiariesCompensationAwardIncludingPreawardInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount awarded, not including pre-award interest, as compensation for the nationalization of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NationalizationOfSubsidiariesCompensationAwardNotIncludingPreawardInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of post-award interest for compensation for the nationalization of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NationalizationOfSubsidiariesCompensationAwardPostawardInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NationalizationOfSubsidiariesPostawardInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The rate at which interest will accrue if compensation for the nationalization of subsidiaries is not received by the due date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NationalizationOfSubsidiariesPostawardInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NationalizationOfSubsidiariesPreawardInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of pre-award interest associated with compensation for the nationalization of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NationalizationOfSubsidiariesPreawardInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NationalizationOfSubsidiariesReimbursementOfLegalFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of reimbursement of legal fees associated with the nationalization of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NationalizationOfSubsidiariesReimbursementOfLegalFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=country_VE">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=country_VE</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_MatesiMaterialesSiderrgicosSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_MatesiMaterialesSiderrgicosSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TavsaAndComsiguaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TavsaAndComsiguaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>92
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790438944">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 30 - Related Party Transactions (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory', window );">Disclosure of transactions between related parties [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: justify">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom"> <td><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">(i)</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Transactions</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">(a) Sales of goods and services</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 5%">&nbsp;</td> <td style="width: 59%; font-size: 10pt; text-align: left">Sales of goods to non-consolidated parties</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,577</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,709</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32,362</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Sales of goods to other related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">69,972</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">131,548</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,624</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Sales of services to non-consolidated parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,620</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,641</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,637</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Sales of services to other related parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,386</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,647</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,751</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">100,555</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">168,545</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">142,374</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">(b) Purchases of goods and services</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Purchases of goods to non-consolidated parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">174,588</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">245,186</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">234,361</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Purchases of goods to other related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">51,765</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">106,624</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,711</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Purchases of services to non-consolidated parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,404</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,556</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,077</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Purchases of services to other related parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,514</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46,179</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">50,794</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">290,271</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">407,545</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">314,943</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At December 31,</td> </tr> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">(ii)</div></div></td> <td style="font-size: 10pt; font-weight: bold">Period-end balances</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">(a) Arising from sales / purchases of goods / services</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 5%">&nbsp;</td> <td style="width: 71%; font-size: 10pt; text-align: left">Receivables from non-consolidated parties</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">78,884</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">122,136</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Receivables from other related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,400</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,419</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">Payables to non-consolidated parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(19,100</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(33,197</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Payables to other related parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,048</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,595</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,136</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">95,763</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">(b) Financial debt</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Finance lease liabilities from non-consolidated parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,064</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,064</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of transactions between the entity and its related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2019-01-01<br> -Paragraph 18<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_18&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.20.1</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1039</ContextCount>
  <ElementCount>747</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>true</FootnotesReported>
  <SegmentCount>268</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>9</UnitCount>
  <MyReports>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>000 - Document - Document And Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-document-and-entity-information</Role>
      <ShortName>Document And Entity Information</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>001 - Statement - Consolidated Income Statement</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement--consolidated-income-statement</Role>
      <ShortName>Consolidated Income Statement</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>2</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>002 - Statement - Consolidated Statement of Comprehensive Income</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-comprehensive-income</Role>
      <ShortName>Consolidated Statement of Comprehensive Income</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>3</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R4.htm</HtmlFileName>
      <LongName>003 - Statement - Consolidated Statement of Financial Position</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-financial-position</Role>
      <ShortName>Consolidated Statement of Financial Position</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>4</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R5.htm</HtmlFileName>
      <LongName>004 - Statement - Consolidated Statement of Changes In Equity</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity</Role>
      <ShortName>Consolidated Statement of Changes In Equity</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>5</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R6.htm</HtmlFileName>
      <LongName>005 - Statement - Consolidated Statement of Changes In Equity (Parentheticals)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-changes-in-equity-parentheticals</Role>
      <ShortName>Consolidated Statement of Changes In Equity (Parentheticals)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>6</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R7.htm</HtmlFileName>
      <LongName>006 - Statement - Consolidated Statement of Cash Flows</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-consolidated-statement-of-cash-flows</Role>
      <ShortName>Consolidated Statement of Cash Flows</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>7</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R8.htm</HtmlFileName>
      <LongName>007 - Disclosure - I. General Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-i-general-information</Role>
      <ShortName>I. General Information</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>8</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R9.htm</HtmlFileName>
      <LongName>008 - Disclosure - II. Accounting Policies</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-ii-accounting-policies</Role>
      <ShortName>II. Accounting Policies</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>9</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R10.htm</HtmlFileName>
      <LongName>009 - Disclosure - III. Financial Risk Management</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management</Role>
      <ShortName>III. Financial Risk Management</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>10</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R11.htm</HtmlFileName>
      <LongName>010 - Disclosure - Note 1 - Segment Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-1-segment-information</Role>
      <ShortName>Note 1 - Segment Information</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>11</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R12.htm</HtmlFileName>
      <LongName>011 - Disclosure - Note 2 - Cost of Sales</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales</Role>
      <ShortName>Note 2 - Cost of Sales</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>12</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R13.htm</HtmlFileName>
      <LongName>012 - Disclosure - Note 3 - Selling, General and Administrative Expenses</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses</Role>
      <ShortName>Note 3 - Selling, General and Administrative Expenses</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>13</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R14.htm</HtmlFileName>
      <LongName>013 - Disclosure - Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses</Role>
      <ShortName>Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses)</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>14</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R15.htm</HtmlFileName>
      <LongName>014 - Disclosure - Note 5 - Other Operating Income and Expenses</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses</Role>
      <ShortName>Note 5 - Other Operating Income and Expenses</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>15</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R16.htm</HtmlFileName>
      <LongName>015 - Disclosure - Note 6 - Financial Results</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-6-financial-results</Role>
      <ShortName>Note 6 - Financial Results</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>16</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R17.htm</HtmlFileName>
      <LongName>016 - Disclosure - Note 7 - Income Tax</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-7-income-tax</Role>
      <ShortName>Note 7 - Income Tax</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>17</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R18.htm</HtmlFileName>
      <LongName>017 - Disclosure - Note 8 - Dividends Distribution</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution</Role>
      <ShortName>Note 8 - Dividends Distribution</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>18</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R19.htm</HtmlFileName>
      <LongName>018 - Disclosure - Note 9 - Property, Plant and Equipment, Net</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net</Role>
      <ShortName>Note 9 - Property, Plant and Equipment, Net</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>19</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R20.htm</HtmlFileName>
      <LongName>019 - Disclosure - Note 10 - Intangible Assets, Net</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net</Role>
      <ShortName>Note 10 - Intangible Assets, Net</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>20</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R21.htm</HtmlFileName>
      <LongName>020 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities</Role>
      <ShortName>Note 11 - Right-of-use Assets, Net and Lease Liabilities</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>21</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R22.htm</HtmlFileName>
      <LongName>021 - Disclosure - Note 12 - Investments in Non-consolidated Companies</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies</Role>
      <ShortName>Note 12 - Investments in Non-consolidated Companies</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>22</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R23.htm</HtmlFileName>
      <LongName>022 - Disclosure - Note 13 - Receivables - Non Current</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current</Role>
      <ShortName>Note 13 - Receivables - Non Current</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>23</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R24.htm</HtmlFileName>
      <LongName>023 - Disclosure - Note 14 - Inventories, Net</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-14-inventories-net</Role>
      <ShortName>Note 14 - Inventories, Net</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>24</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R25.htm</HtmlFileName>
      <LongName>024 - Disclosure - Note 15 - Receivables and Prepayments, Net</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net</Role>
      <ShortName>Note 15 - Receivables and Prepayments, Net</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>25</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R26.htm</HtmlFileName>
      <LongName>025 - Disclosure - Note 16 - Current Tax Assets and Liabilities</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities</Role>
      <ShortName>Note 16 - Current Tax Assets and Liabilities</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>26</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R27.htm</HtmlFileName>
      <LongName>026 - Disclosure - Note 17 - Trade Receivables, Net</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net</Role>
      <ShortName>Note 17 - Trade Receivables, Net</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>27</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R28.htm</HtmlFileName>
      <LongName>027 - Disclosure - Note 18 - Cash and Cash Equivalents and Other Investments</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments</Role>
      <ShortName>Note 18 - Cash and Cash Equivalents and Other Investments</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>28</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R29.htm</HtmlFileName>
      <LongName>028 - Disclosure - Note 19 - Borrowings</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-19-borrowings</Role>
      <ShortName>Note 19 - Borrowings</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>29</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R30.htm</HtmlFileName>
      <LongName>029 - Disclosure - Note 20 - Deferred Income Tax</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax</Role>
      <ShortName>Note 20 - Deferred Income Tax</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>30</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R31.htm</HtmlFileName>
      <LongName>030 - Disclosure - Note 21 - Other Liabilities</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities</Role>
      <ShortName>Note 21 - Other Liabilities</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>31</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R32.htm</HtmlFileName>
      <LongName>031 - Disclosure - Note 22 - Non-current Allowances and Provisions</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions</Role>
      <ShortName>Note 22 - Non-current Allowances and Provisions</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>32</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R33.htm</HtmlFileName>
      <LongName>032 - Disclosure - Note 23 - Current Allowances and Provisions</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions</Role>
      <ShortName>Note 23 - Current Allowances and Provisions</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>33</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R34.htm</HtmlFileName>
      <LongName>033 - Disclosure - Note 24 - Derivative Financial Instruments</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments</Role>
      <ShortName>Note 24 - Derivative Financial Instruments</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>34</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R35.htm</HtmlFileName>
      <LongName>034 - Disclosure - Note 25 - Contingencies, Commitments and Restrictions On the Distribution of Profits</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits</Role>
      <ShortName>Note 25 - Contingencies, Commitments and Restrictions On the Distribution of Profits</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>35</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R36.htm</HtmlFileName>
      <LongName>035 - Disclosure - Note 26 - Agreement to Build a Welded Pipe Plant in West Siberia</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia</Role>
      <ShortName>Note 26 - Agreement to Build a Welded Pipe Plant in West Siberia</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>36</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R37.htm</HtmlFileName>
      <LongName>036 - Disclosure - Note 27 - Business Combinations</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-27-business-combinations</Role>
      <ShortName>Note 27 - Business Combinations</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>37</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R38.htm</HtmlFileName>
      <LongName>037 - Disclosure - Note 28 - Cash Flow Disclosures</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures</Role>
      <ShortName>Note 28 - Cash Flow Disclosures</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>38</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R39.htm</HtmlFileName>
      <LongName>038 - Disclosure - Note 29 - Discontinued Operations</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations</Role>
      <ShortName>Note 29 - Discontinued Operations</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>39</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R40.htm</HtmlFileName>
      <LongName>039 - Disclosure - Note 30 - Related Party Transactions</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions</Role>
      <ShortName>Note 30 - Related Party Transactions</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>40</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R41.htm</HtmlFileName>
      <LongName>040 - Disclosure - Note 31 - Fees Paid to the Company's Principal Accountant</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant</Role>
      <ShortName>Note 31 - Fees Paid to the Company's Principal Accountant</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>41</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R42.htm</HtmlFileName>
      <LongName>041 - Disclosure - Note 32 - Principal Subsidiaries</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries</Role>
      <ShortName>Note 32 - Principal Subsidiaries</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>42</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R43.htm</HtmlFileName>
      <LongName>042 - Disclosure - Note 33 - Nationalization of Venezuelan Subsidiaries</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries</Role>
      <ShortName>Note 33 - Nationalization of Venezuelan Subsidiaries</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>43</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R44.htm</HtmlFileName>
      <LongName>043 - Disclosure - Note 34 - Delisting of Tenaris's Shares from the Buenos Aires Stock Exchange</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-34-delisting-of-tenariss-shares-from-the-buenos-aires-stock-exchange</Role>
      <ShortName>Note 34 - Delisting of Tenaris's Shares from the Buenos Aires Stock Exchange</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>44</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R45.htm</HtmlFileName>
      <LongName>044 - Disclosure - Note 35 - Subsequent Events</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events</Role>
      <ShortName>Note 35 - Subsequent Events</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>45</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R46.htm</HtmlFileName>
      <LongName>045 - Disclosure - Note 36 - Update as of April 29, 2020</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020</Role>
      <ShortName>Note 36 - Update as of April 29, 2020</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>46</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R47.htm</HtmlFileName>
      <LongName>046 - Disclosure - Significant Accounting Policies (Policies)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-significant-accounting-policies-policies</Role>
      <ShortName>Significant Accounting Policies (Policies)</ShortName>
      <MenuCategory>Policies</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-ii-accounting-policies</ParentRole>
      <Position>47</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R48.htm</HtmlFileName>
      <LongName>047 - Disclosure - II. Accounting Policies (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-tables</Role>
      <ShortName>II. Accounting Policies (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-ii-accounting-policies</ParentRole>
      <Position>48</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R49.htm</HtmlFileName>
      <LongName>048 - Disclosure - III. Financial Risk Management (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-tables</Role>
      <ShortName>III. Financial Risk Management (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management</ParentRole>
      <Position>49</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R50.htm</HtmlFileName>
      <LongName>049 - Disclosure - Note 1 - Segment Information (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tables</Role>
      <ShortName>Note 1 - Segment Information (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-1-segment-information</ParentRole>
      <Position>50</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R51.htm</HtmlFileName>
      <LongName>050 - Disclosure - Note 2 - Cost of Sales (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-tables</Role>
      <ShortName>Note 2 - Cost of Sales (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales</ParentRole>
      <Position>51</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R52.htm</HtmlFileName>
      <LongName>051 - Disclosure - Note 3 - Selling, General and Administrative Expenses (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-tables</Role>
      <ShortName>Note 3 - Selling, General and Administrative Expenses (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses</ParentRole>
      <Position>52</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R53.htm</HtmlFileName>
      <LongName>052 - Disclosure - Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables</Role>
      <ShortName>Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses</ParentRole>
      <Position>53</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R54.htm</HtmlFileName>
      <LongName>053 - Disclosure - Note 5 - Other Operating Income and Expenses (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-tables</Role>
      <ShortName>Note 5 - Other Operating Income and Expenses (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses</ParentRole>
      <Position>54</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R55.htm</HtmlFileName>
      <LongName>054 - Disclosure - Note 6 - Financial Results (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-6-financial-results-tables</Role>
      <ShortName>Note 6 - Financial Results (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-6-financial-results</ParentRole>
      <Position>55</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R56.htm</HtmlFileName>
      <LongName>055 - Disclosure - Note 7 - Income Tax (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-7-income-tax-tables</Role>
      <ShortName>Note 7 - Income Tax (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-7-income-tax</ParentRole>
      <Position>56</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R57.htm</HtmlFileName>
      <LongName>056 - Disclosure - Note 9 - Property, Plant and Equipment, Net (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-tables</Role>
      <ShortName>Note 9 - Property, Plant and Equipment, Net (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net</ParentRole>
      <Position>57</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R58.htm</HtmlFileName>
      <LongName>057 - Disclosure - Note 10 - Intangible Assets, Net (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-tables</Role>
      <ShortName>Note 10 - Intangible Assets, Net (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net</ParentRole>
      <Position>58</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R59.htm</HtmlFileName>
      <LongName>058 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables</Role>
      <ShortName>Note 11 - Right-of-use Assets, Net and Lease Liabilities (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities</ParentRole>
      <Position>59</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R60.htm</HtmlFileName>
      <LongName>059 - Disclosure - Note 12 - Investments in Non-consolidated Companies (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-tables</Role>
      <ShortName>Note 12 - Investments in Non-consolidated Companies (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies</ParentRole>
      <Position>60</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R61.htm</HtmlFileName>
      <LongName>060 - Disclosure - Note 13 - Receivables - Non Current (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-tables</Role>
      <ShortName>Note 13 - Receivables - Non Current (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current</ParentRole>
      <Position>61</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R62.htm</HtmlFileName>
      <LongName>061 - Disclosure - Note 14 - Inventories, Net (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-tables</Role>
      <ShortName>Note 14 - Inventories, Net (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-14-inventories-net</ParentRole>
      <Position>62</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R63.htm</HtmlFileName>
      <LongName>062 - Disclosure - Note 15 - Receivables and Prepayments, Net (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-tables</Role>
      <ShortName>Note 15 - Receivables and Prepayments, Net (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net</ParentRole>
      <Position>63</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R64.htm</HtmlFileName>
      <LongName>063 - Disclosure - Note 16 - Current Tax Assets and Liabilities (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-tables</Role>
      <ShortName>Note 16 - Current Tax Assets and Liabilities (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities</ParentRole>
      <Position>64</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R65.htm</HtmlFileName>
      <LongName>064 - Disclosure - Note 17 - Trade Receivables, Net (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-tables</Role>
      <ShortName>Note 17 - Trade Receivables, Net (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net</ParentRole>
      <Position>65</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R66.htm</HtmlFileName>
      <LongName>065 - Disclosure - Note 18 - Cash and Cash Equivalents and Other Investments (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-tables</Role>
      <ShortName>Note 18 - Cash and Cash Equivalents and Other Investments (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments</ParentRole>
      <Position>66</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R67.htm</HtmlFileName>
      <LongName>066 - Disclosure - Note 19 - Borrowings (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-19-borrowings-tables</Role>
      <ShortName>Note 19 - Borrowings (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-19-borrowings</ParentRole>
      <Position>67</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R68.htm</HtmlFileName>
      <LongName>067 - Disclosure - Note 20 - Deferred Income Tax (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-tables</Role>
      <ShortName>Note 20 - Deferred Income Tax (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax</ParentRole>
      <Position>68</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R69.htm</HtmlFileName>
      <LongName>068 - Disclosure - Note 21 - Other Liabilities (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-tables</Role>
      <ShortName>Note 21 - Other Liabilities (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities</ParentRole>
      <Position>69</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R70.htm</HtmlFileName>
      <LongName>069 - Disclosure - Note 22 - Non-current Allowances and Provisions (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-tables</Role>
      <ShortName>Note 22 - Non-current Allowances and Provisions (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions</ParentRole>
      <Position>70</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R71.htm</HtmlFileName>
      <LongName>070 - Disclosure - Note 23 - Current Allowances and Provisions (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-tables</Role>
      <ShortName>Note 23 - Current Allowances and Provisions (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions</ParentRole>
      <Position>71</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R72.htm</HtmlFileName>
      <LongName>071 - Disclosure - Note 24 - Derivative Financial Instruments (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-tables</Role>
      <ShortName>Note 24 - Derivative Financial Instruments (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments</ParentRole>
      <Position>72</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R73.htm</HtmlFileName>
      <LongName>072 - Disclosure - Note 27 - Business Combinations (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-tables</Role>
      <ShortName>Note 27 - Business Combinations (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-27-business-combinations</ParentRole>
      <Position>73</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R74.htm</HtmlFileName>
      <LongName>073 - Disclosure - Note 28 - Cash Flow Disclosures (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-tables</Role>
      <ShortName>Note 28 - Cash Flow Disclosures (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures</ParentRole>
      <Position>74</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R75.htm</HtmlFileName>
      <LongName>074 - Disclosure - Note 29 - Discontinued Operations (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-tables</Role>
      <ShortName>Note 29 - Discontinued Operations (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations</ParentRole>
      <Position>75</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R76.htm</HtmlFileName>
      <LongName>075 - Disclosure - Note 30 - Related Party Transactions (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-tables</Role>
      <ShortName>Note 30 - Related Party Transactions (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions</ParentRole>
      <Position>76</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R77.htm</HtmlFileName>
      <LongName>076 - Disclosure - Note 31 - Fees Paid to the Company's Principal Accountant (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-tables</Role>
      <ShortName>Note 31 - Fees Paid to the Company's Principal Accountant (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant</ParentRole>
      <Position>77</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R78.htm</HtmlFileName>
      <LongName>077 - Disclosure - Note 32 - Principal Subsidiaries (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-tables</Role>
      <ShortName>Note 32 - Principal Subsidiaries (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries</ParentRole>
      <Position>78</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R79.htm</HtmlFileName>
      <LongName>078 - Disclosure - Note 36 - Update as of April 29, 2020 (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-tables</Role>
      <ShortName>Note 36 - Update as of April 29, 2020 (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020</ParentRole>
      <Position>79</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R80.htm</HtmlFileName>
      <LongName>079 - Disclosure - II. Accounting Policies (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-details-textual</Role>
      <ShortName>II. Accounting Policies (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-ii-accounting-policies-tables</ParentRole>
      <Position>80</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R81.htm</HtmlFileName>
      <LongName>080 - Disclosure - Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-accounting-policies-estimated-useful-lives-of-property-plant-and-equipment-details</Role>
      <ShortName>Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>81</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R82.htm</HtmlFileName>
      <LongName>081 - Disclosure - Accounting Policies - Changes in Key Assumptions That Would Cause the Recoverable Amount to Equal the Carrying Value (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-accounting-policies-changes-in-key-assumptions-that-would-cause-the-recoverable-amount-to-equal-the-carrying-value-details</Role>
      <ShortName>Accounting Policies - Changes in Key Assumptions That Would Cause the Recoverable Amount to Equal the Carrying Value (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>82</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R83.htm</HtmlFileName>
      <LongName>082 - Disclosure - III. Financial Risk Management (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-details-textual</Role>
      <ShortName>III. Financial Risk Management (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-iii-financial-risk-management-tables</ParentRole>
      <Position>83</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R84.htm</HtmlFileName>
      <LongName>083 - Disclosure - Financial Risk Management - Financial Assets and Liabilities Which Impact Profit and Loss (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-assets-and-liabilities-which-impact-profit-and-loss-details</Role>
      <ShortName>Financial Risk Management - Financial Assets and Liabilities Which Impact Profit and Loss (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>84</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R85.htm</HtmlFileName>
      <LongName>084 - Disclosure - Financial Risk Management - Proportions of Variable-rate and Fixed-rate Debt (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-financial-risk-management-proportions-of-variablerate-and-fixedrate-debt-details</Role>
      <ShortName>Financial Risk Management - Proportions of Variable-rate and Fixed-rate Debt (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>85</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R86.htm</HtmlFileName>
      <LongName>085 - Disclosure - Financial Risk Management - Financial Instruments and Classification Within the Fair Value Hierarchy (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-financial-risk-management-financial-instruments-and-classification-within-the-fair-value-hierarchy-details</Role>
      <ShortName>Financial Risk Management - Financial Instruments and Classification Within the Fair Value Hierarchy (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>86</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R87.htm</HtmlFileName>
      <LongName>086 - Disclosure - Financial Risk Management - Changes in Level 3 Assets and Liabilities (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-financial-risk-management-changes-in-level-3-assets-and-liabilities-details</Role>
      <ShortName>Financial Risk Management - Changes in Level 3 Assets and Liabilities (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>87</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R88.htm</HtmlFileName>
      <LongName>087 - Disclosure - Note 1 - Segment Information (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-1-segment-information-details-textual</Role>
      <ShortName>Note 1 - Segment Information (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tables</ParentRole>
      <Position>88</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R89.htm</HtmlFileName>
      <LongName>088 - Disclosure - Note 1 - Segment Information - Reportable Operating Segments (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-1-segment-information-reportable-operating-segments-details</Role>
      <ShortName>Note 1 - Segment Information - Reportable Operating Segments (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>89</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R90.htm</HtmlFileName>
      <LongName>089 - Disclosure - Note 1 - Segment Information - Geographical Information (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-1-segment-information-geographical-information-details</Role>
      <ShortName>Note 1 - Segment Information - Geographical Information (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>90</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R91.htm</HtmlFileName>
      <LongName>090 - Disclosure - Note 1 - Segment Information - Tubes Segment Revenues By Market (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-1-segment-information-tubes-segment-revenues-by-market-details</Role>
      <ShortName>Note 1 - Segment Information - Tubes Segment Revenues By Market (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>91</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R92.htm</HtmlFileName>
      <LongName>091 - Disclosure - Note 2 - Cost of Sales - Components of Cost of Sales (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-2-cost-of-sales-components-of-cost-of-sales-details</Role>
      <ShortName>Note 2 - Cost of Sales - Components of Cost of Sales (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>92</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R93.htm</HtmlFileName>
      <LongName>092 - Disclosure - Note 3 - Selling, General and Administrative Expenses - Components of Selling, General and Administrative Expenses (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-3-selling-general-and-administrative-expenses-components-of-selling-general-and-administrative-expenses-details</Role>
      <ShortName>Note 3 - Selling, General and Administrative Expenses - Components of Selling, General and Administrative Expenses (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>93</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R94.htm</HtmlFileName>
      <LongName>093 - Disclosure - Note 4 - Labor Costs - Summary of Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-summary-of-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-details</Role>
      <ShortName>Note 4 - Labor Costs - Summary of Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>94</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R95.htm</HtmlFileName>
      <LongName>094 - Disclosure - Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) - Number of Employees (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-number-of-employees-details</Role>
      <ShortName>Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) - Number of Employees (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-4-labor-costs-labor-costs-included-in-cost-of-sales-and-in-selling-general-and-administrative-expenses-tables</ParentRole>
      <Position>95</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R96.htm</HtmlFileName>
      <LongName>095 - Disclosure - Note 5 - Other Operating Income and Expenses - Components of Other Operating Income and Expenses (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-5-other-operating-income-and-expenses-components-of-other-operating-income-and-expenses-details</Role>
      <ShortName>Note 5 - Other Operating Income and Expenses - Components of Other Operating Income and Expenses (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>96</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R97.htm</HtmlFileName>
      <LongName>096 - Disclosure - Note 6 - Financial Results (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-6-financial-results-details-textual</Role>
      <ShortName>Note 6 - Financial Results (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-6-financial-results-tables</ParentRole>
      <Position>97</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R98.htm</HtmlFileName>
      <LongName>097 - Disclosure - Note 6 - Financial Results - Financial Income (Cost) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-6-financial-results-financial-income-cost-details</Role>
      <ShortName>Note 6 - Financial Results - Financial Income (Cost) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>98</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R99.htm</HtmlFileName>
      <LongName>098 - Disclosure - Note 7 - Income Tax (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-7-income-tax-details-textual</Role>
      <ShortName>Note 7 - Income Tax (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-7-income-tax-tables</ParentRole>
      <Position>99</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R100.htm</HtmlFileName>
      <LongName>099 - Disclosure - Note 7 - Income Tax - Summary of Income Tax Expense (Benefit) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-income-tax-expense-benefit-details</Role>
      <ShortName>Note 7 - Income Tax - Summary of Income Tax Expense (Benefit) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>100</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R101.htm</HtmlFileName>
      <LongName>100 - Disclosure - Note 7 - Income Tax - Summary of Differences Between Income Tax and Theoretical Amount Using Tax Rate in Each Country (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-7-income-tax-summary-of-differences-between-income-tax-and-theoretical-amount-using-tax-rate-in-each-country-details</Role>
      <ShortName>Note 7 - Income Tax - Summary of Differences Between Income Tax and Theoretical Amount Using Tax Rate in Each Country (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>101</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R102.htm</HtmlFileName>
      <LongName>101 - Disclosure - Note 8 - Dividends Distribution (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution-details-textual</Role>
      <ShortName>Note 8 - Dividends Distribution (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-8-dividends-distribution</ParentRole>
      <Position>102</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R103.htm</HtmlFileName>
      <LongName>102 - Disclosure - Note 9 - Property, Plant and Equipment, Net (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-details-textual</Role>
      <ShortName>Note 9 - Property, Plant and Equipment, Net (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-tables</ParentRole>
      <Position>103</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R104.htm</HtmlFileName>
      <LongName>103 - Disclosure - Note 9 - Property, Plant and Equipment, Net - Components of Property, Plant and Equipment, Net (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-9-property-plant-and-equipment-net-components-of-property-plant-and-equipment-net-details</Role>
      <ShortName>Note 9 - Property, Plant and Equipment, Net - Components of Property, Plant and Equipment, Net (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>104</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R105.htm</HtmlFileName>
      <LongName>104 - Disclosure - Note 10 - Intangible Assets, Net (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-details-textual</Role>
      <ShortName>Note 10 - Intangible Assets, Net (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-tables</ParentRole>
      <Position>105</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R106.htm</HtmlFileName>
      <LongName>105 - Disclosure - Note 10 - Intangible Assets, Net - Intangible Assets and Goodwill (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-intangible-assets-and-goodwill-details</Role>
      <ShortName>Note 10 - Intangible Assets, Net - Intangible Assets and Goodwill (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>106</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R107.htm</HtmlFileName>
      <LongName>106 - Disclosure - Note 10 - Intangible Assets, Net - Goodwill Allocated by CGU (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-10-intangible-assets-net-goodwill-allocated-by-cgu-details</Role>
      <ShortName>Note 10 - Intangible Assets, Net - Goodwill Allocated by CGU (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>107</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R108.htm</HtmlFileName>
      <LongName>107 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-details-textual</Role>
      <ShortName>Note 11 - Right-of-use Assets, Net and Lease Liabilities (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-tables</ParentRole>
      <Position>108</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R109.htm</HtmlFileName>
      <LongName>108 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Right-of-use Assets (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-rightofuse-assets-details</Role>
      <ShortName>Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Right-of-use Assets (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>109</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R110.htm</HtmlFileName>
      <LongName>109 - Disclosure - Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Lease Liability (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-11-rightofuse-assets-net-and-lease-liabilities-evolution-of-lease-liability-details</Role>
      <ShortName>Note 11 - Right-of-use Assets, Net and Lease Liabilities - Evolution of Lease Liability (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>110</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R111.htm</HtmlFileName>
      <LongName>110 - Disclosure - Note 12 - Investments in Non-consolidated Companies (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-details-textual</Role>
      <ShortName>Note 12 - Investments in Non-consolidated Companies (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-tables</ParentRole>
      <Position>111</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R112.htm</HtmlFileName>
      <LongName>111 - Disclosure - Note 12 - Investments in Non-consolidated Companies - Summary of Investments in Non-consolidated Companies (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-investments-in-nonconsolidated-companies-details</Role>
      <ShortName>Note 12 - Investments in Non-consolidated Companies - Summary of Investments in Non-consolidated Companies (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>112</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R113.htm</HtmlFileName>
      <LongName>112 - Disclosure - Note 12 - Investments in Non-consolidated Companies - Principal Non-consolidated Companies (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-principal-nonconsolidated-companies-details</Role>
      <ShortName>Note 12 - Investments in Non-consolidated Companies - Principal Non-consolidated Companies (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>113</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R114.htm</HtmlFileName>
      <LongName>113 - Disclosure - Note 12 - Investments in Non-consolidated Companies - Summary of Selected Financial Information (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-12-investments-in-nonconsolidated-companies-summary-of-selected-financial-information-details</Role>
      <ShortName>Note 12 - Investments in Non-consolidated Companies - Summary of Selected Financial Information (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>114</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R115.htm</HtmlFileName>
      <LongName>114 - Disclosure - Note 13 - Receivables - Non Current - Components of Receivables Non Current (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-13-receivables-non-current-components-of-receivables-non-current-details</Role>
      <ShortName>Note 13 - Receivables - Non Current - Components of Receivables Non Current (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>115</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R116.htm</HtmlFileName>
      <LongName>115 - Disclosure - Note 14 - Inventories, Net - Components of Inventories (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-14-inventories-net-components-of-inventories-details</Role>
      <ShortName>Note 14 - Inventories, Net - Components of Inventories (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>116</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R117.htm</HtmlFileName>
      <LongName>116 - Disclosure - Note 15 - Receivables and Prepayments, Net - Summary of Receivables and Prepayments (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-15-receivables-and-prepayments-net-summary-of-receivables-and-prepayments-details</Role>
      <ShortName>Note 15 - Receivables and Prepayments, Net - Summary of Receivables and Prepayments (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>117</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R118.htm</HtmlFileName>
      <LongName>117 - Disclosure - Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Assets (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-assets-details</Role>
      <ShortName>Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Assets (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>118</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R119.htm</HtmlFileName>
      <LongName>118 - Disclosure - Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Liabilities (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-16-current-tax-assets-and-liabilities-summary-of-current-tax-liabilities-details</Role>
      <ShortName>Note 16 - Current Tax Assets and Liabilities - Summary of Current Tax Liabilities (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>119</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R120.htm</HtmlFileName>
      <LongName>119 - Disclosure - Note 17 - Trade Receivables, Net - Summary of Current Trade Receivables (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-current-trade-receivables-details</Role>
      <ShortName>Note 17 - Trade Receivables, Net - Summary of Current Trade Receivables (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>120</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R121.htm</HtmlFileName>
      <LongName>120 - Disclosure - Note 17 - Trade Receivables, Net - Summary of the Aging of Trade Receivables (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-17-trade-receivables-net-summary-of-the-aging-of-trade-receivables-details</Role>
      <ShortName>Note 17 - Trade Receivables, Net - Summary of the Aging of Trade Receivables (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>121</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R122.htm</HtmlFileName>
      <LongName>121 - Disclosure - Note 18 - Cash and Cash Equivalents and Other Investments - Components of Cash and Cash Equivalents and Other Investments (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-18-cash-and-cash-equivalents-and-other-investments-components-of-cash-and-cash-equivalents-and-other-investments-details</Role>
      <ShortName>Note 18 - Cash and Cash Equivalents and Other Investments - Components of Cash and Cash Equivalents and Other Investments (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>122</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R123.htm</HtmlFileName>
      <LongName>122 - Disclosure - Note 19 - Borrowings - Non-current and Current Borrowings (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-19-borrowings-noncurrent-and-current-borrowings-details</Role>
      <ShortName>Note 19 - Borrowings - Non-current and Current Borrowings (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>123</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R124.htm</HtmlFileName>
      <LongName>123 - Disclosure - Note 19 - Borrowings - Maturity of Borrowings (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-19-borrowings-maturity-of-borrowings-details</Role>
      <ShortName>Note 19 - Borrowings - Maturity of Borrowings (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>124</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R125.htm</HtmlFileName>
      <LongName>124 - Disclosure - Note 19 - Borrowings - Significant Borrowings as of Closing Date (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-19-borrowings-significant-borrowings-as-of-closing-date-details</Role>
      <ShortName>Note 19 - Borrowings - Significant Borrowings as of Closing Date (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>125</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R126.htm</HtmlFileName>
      <LongName>125 - Disclosure - Note 19 - Borrowings - Weighted Average Interest Rates of Borrowings (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-19-borrowings-weighted-average-interest-rates-of-borrowings-details</Role>
      <ShortName>Note 19 - Borrowings - Weighted Average Interest Rates of Borrowings (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>126</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R127.htm</HtmlFileName>
      <LongName>126 - Disclosure - Note 19 - Borrowings - Borrowings by Currency and Rate (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-by-currency-and-rate-details</Role>
      <ShortName>Note 19 - Borrowings - Borrowings by Currency and Rate (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>127</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R128.htm</HtmlFileName>
      <LongName>127 - Disclosure - Note 19 - Borrowings - Borrowings Evolution (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-19-borrowings-borrowings-evolution-details</Role>
      <ShortName>Note 19 - Borrowings - Borrowings Evolution (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>128</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R129.htm</HtmlFileName>
      <LongName>128 - Disclosure - Note 20 - Deferred Income Tax (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-details-textual</Role>
      <ShortName>Note 20 - Deferred Income Tax (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-tables</ParentRole>
      <Position>129</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R130.htm</HtmlFileName>
      <LongName>129 - Disclosure - Note 20 - Deferred Income Tax - Deferred Tax Assets and Liabilities (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-deferred-tax-assets-and-liabilities-details</Role>
      <ShortName>Note 20 - Deferred Income Tax - Deferred Tax Assets and Liabilities (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>130</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R131.htm</HtmlFileName>
      <LongName>130 - Disclosure - Note 20 - Deferred Income Tax - Recovery Analysis of Deferred Tax Assets and Liabilities (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-recovery-analysis-of-deferred-tax-assets-and-liabilities-details</Role>
      <ShortName>Note 20 - Deferred Income Tax - Recovery Analysis of Deferred Tax Assets and Liabilities (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>131</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R132.htm</HtmlFileName>
      <LongName>131 - Disclosure - Note 20 - Deferred Income Tax - Net Deferred Tax Liabilities (Assets) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-20-deferred-income-tax-net-deferred-tax-liabilities-assets-details</Role>
      <ShortName>Note 20 - Deferred Income Tax - Net Deferred Tax Liabilities (Assets) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>132</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R133.htm</HtmlFileName>
      <LongName>132 - Disclosure - Note 21 - Other Liabilities (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-details-textual</Role>
      <ShortName>Note 21 - Other Liabilities (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-tables</ParentRole>
      <Position>133</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R134.htm</HtmlFileName>
      <LongName>133 - Disclosure - Note 21 - Other Liabilities - Other Noncurrent Liabilities (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-noncurrent-liabilities-details</Role>
      <ShortName>Note 21 - Other Liabilities - Other Noncurrent Liabilities (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>134</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R135.htm</HtmlFileName>
      <LongName>134 - Disclosure - Note 21 - Other Liabilities - Post-employment Benefits (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-postemployment-benefits-details</Role>
      <ShortName>Note 21 - Other Liabilities - Post-employment Benefits (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>135</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R136.htm</HtmlFileName>
      <LongName>135 - Disclosure - Note 21 - Other Liabilities - Actuarial Assumptions (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-actuarial-assumptions-details</Role>
      <ShortName>Note 21 - Other Liabilities - Actuarial Assumptions (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>136</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R137.htm</HtmlFileName>
      <LongName>136 - Disclosure - Note 21 - Other Liabilities - Plan Assets (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-plan-assets-details</Role>
      <ShortName>Note 21 - Other Liabilities - Plan Assets (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>137</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R138.htm</HtmlFileName>
      <LongName>137 - Disclosure - Note 21 - Other Liabilities - Other Current Liabilities (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-21-other-liabilities-other-current-liabilities-details</Role>
      <ShortName>Note 21 - Other Liabilities - Other Current Liabilities (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>138</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R139.htm</HtmlFileName>
      <LongName>138 - Disclosure - Note 22 - Non-current Allowances and Provisions - Deducted From Non-current Receivables (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-deducted-from-noncurrent-receivables-details</Role>
      <ShortName>Note 22 - Non-current Allowances and Provisions - Deducted From Non-current Receivables (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>139</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R140.htm</HtmlFileName>
      <LongName>139 - Disclosure - Note 22 - Non-current Allowances and Provisions - Liabilities (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-22-noncurrent-allowances-and-provisions-liabilities-details</Role>
      <ShortName>Note 22 - Non-current Allowances and Provisions - Liabilities (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>140</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R141.htm</HtmlFileName>
      <LongName>140 - Disclosure - Note 23 - Current Allowances and Provisions - Deducted From Assets (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-deducted-from-assets-details</Role>
      <ShortName>Note 23 - Current Allowances and Provisions - Deducted From Assets (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>141</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R142.htm</HtmlFileName>
      <LongName>141 - Disclosure - Note 23 - Current Allowances and Provisions - Liabilities (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-23-current-allowances-and-provisions-liabilities-details</Role>
      <ShortName>Note 23 - Current Allowances and Provisions - Liabilities (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>142</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R143.htm</HtmlFileName>
      <LongName>142 - Disclosure - Note 24 - Derivative Financial Instruments (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-details-textual</Role>
      <ShortName>Note 24 - Derivative Financial Instruments (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-tables</ParentRole>
      <Position>143</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R144.htm</HtmlFileName>
      <LongName>143 - Disclosure - Note 24 - Derivative Financial Instruments - Net Fair Values (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-net-fair-values-details</Role>
      <ShortName>Note 24 - Derivative Financial Instruments - Net Fair Values (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>144</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R145.htm</HtmlFileName>
      <LongName>144 - Disclosure - Note 24 - Derivative Financial Instruments - Foreign Exchange Derivative Contracts and Hedge Accounting (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-foreign-exchange-derivative-contracts-and-hedge-accounting-details</Role>
      <ShortName>Note 24 - Derivative Financial Instruments - Foreign Exchange Derivative Contracts and Hedge Accounting (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>145</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R146.htm</HtmlFileName>
      <LongName>145 - Disclosure - Note 24 - Derivative Financial Instruments - Hedge Reserve Evolution (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-24-derivative-financial-instruments-hedge-reserve-evolution-details</Role>
      <ShortName>Note 24 - Derivative Financial Instruments - Hedge Reserve Evolution (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>146</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R147.htm</HtmlFileName>
      <LongName>146 - Disclosure - Note 25 - Contingencies, Commitments and Restrictions On the Distribution of Profits (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits-details-textual</Role>
      <ShortName>Note 25 - Contingencies, Commitments and Restrictions On the Distribution of Profits (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-25-contingencies-commitments-and-restrictions-on-the-distribution-of-profits</ParentRole>
      <Position>147</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R148.htm</HtmlFileName>
      <LongName>147 - Disclosure - Note 26 - Agreement to Build a Welded Pipe Plant in West Siberia (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia-details-textual</Role>
      <ShortName>Note 26 - Agreement to Build a Welded Pipe Plant in West Siberia (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-26-agreement-to-build-a-welded-pipe-plant-in-west-siberia</ParentRole>
      <Position>148</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R149.htm</HtmlFileName>
      <LongName>148 - Disclosure - Note 27 - Business Combinations (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-details-textual</Role>
      <ShortName>Note 27 - Business Combinations (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-tables</ParentRole>
      <Position>149</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R150.htm</HtmlFileName>
      <LongName>149 - Disclosure - Note 27 - Business Combinations - Assets and Liabilities Assumed (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-27-business-combinations-assets-and-liabilities-assumed-details</Role>
      <ShortName>Note 27 - Business Combinations - Assets and Liabilities Assumed (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>150</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R151.htm</HtmlFileName>
      <LongName>150 - Disclosure - Note 28 - Cash Flow Disclosures - Cash Flow Disclosures (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-28-cash-flow-disclosures-cash-flow-disclosures-details</Role>
      <ShortName>Note 28 - Cash Flow Disclosures - Cash Flow Disclosures (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>151</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R152.htm</HtmlFileName>
      <LongName>151 - Disclosure - Note 29 - Discontinued Operations (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-details-textual</Role>
      <ShortName>Note 29 - Discontinued Operations (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-tables</ParentRole>
      <Position>152</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R153.htm</HtmlFileName>
      <LongName>152 - Disclosure - Note 29 - Discontinued Operations - Components of Discontinued Operation's Net Income (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-of-discontinued-operations-net-income-details</Role>
      <ShortName>Note 29 - Discontinued Operations - Components of Discontinued Operation's Net Income (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>153</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R154.htm</HtmlFileName>
      <LongName>153 - Disclosure - Note 29 - Discontinued Operations - Components Gain on Sale After Income Tax for Disposals (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-components-gain-on-sale-after-income-tax-for-disposals-details</Role>
      <ShortName>Note 29 - Discontinued Operations - Components Gain on Sale After Income Tax for Disposals (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>154</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R155.htm</HtmlFileName>
      <LongName>154 - Disclosure - Note 29 - Discontinued Operations - Discontinued Operations (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-29-discontinued-operations-discontinued-operations-details</Role>
      <ShortName>Note 29 - Discontinued Operations - Discontinued Operations (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>155</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R156.htm</HtmlFileName>
      <LongName>155 - Disclosure - Note 30 - Related Party Transactions (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-details-textual</Role>
      <ShortName>Note 30 - Related Party Transactions (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-tables</ParentRole>
      <Position>156</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R157.htm</HtmlFileName>
      <LongName>156 - Disclosure - Note 30 - Related Party Transactions - Transactions Carried Out With Related Parties (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-30-related-party-transactions-transactions-carried-out-with-related-parties-details</Role>
      <ShortName>Note 30 - Related Party Transactions - Transactions Carried Out With Related Parties (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>157</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R158.htm</HtmlFileName>
      <LongName>157 - Disclosure - Note 31 - Fees Paid to the Company's Principal Accountant - Fees Accrued for Professional Services (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-31-fees-paid-to-the-companys-principal-accountant-fees-accrued-for-professional-services-details</Role>
      <ShortName>Note 31 - Fees Paid to the Company's Principal Accountant - Fees Accrued for Professional Services (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>158</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R159.htm</HtmlFileName>
      <LongName>158 - Disclosure - Note 32 - Principal Subsidiaries (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-details-textual</Role>
      <ShortName>Note 32 - Principal Subsidiaries (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-tables</ParentRole>
      <Position>159</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R160.htm</HtmlFileName>
      <LongName>159 - Disclosure - Note 32 - Principal Subsidiaries - Percentage of Ownership of Each Controlled Company (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-32-principal-subsidiaries-percentage-of-ownership-of-each-controlled-company-details</Role>
      <ShortName>Note 32 - Principal Subsidiaries - Percentage of Ownership of Each Controlled Company (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>160</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R161.htm</HtmlFileName>
      <LongName>160 - Disclosure - Note 33 - Nationalization of Venezuelan Subsidiaries (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries-details-textual</Role>
      <ShortName>Note 33 - Nationalization of Venezuelan Subsidiaries (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-33-nationalization-of-venezuelan-subsidiaries</ParentRole>
      <Position>161</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R162.htm</HtmlFileName>
      <LongName>161 - Disclosure - Note 35 - Subsequent Events (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events-details-textual</Role>
      <ShortName>Note 35 - Subsequent Events (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-35-subsequent-events</ParentRole>
      <Position>162</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R163.htm</HtmlFileName>
      <LongName>162 - Disclosure - Note 36 - Update as of April 29, 2020 (Details Textual)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-details-textual</Role>
      <ShortName>Note 36 - Update as of April 29, 2020 (Details Textual)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-tables</ParentRole>
      <Position>163</Position>
    </Report>
    <Report instance="ts-20191231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R164.htm</HtmlFileName>
      <LongName>163 - Disclosure - Note 36 - Update as of April 29, 2020 - Assets and Liabilities Assumed (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://us.tenaris.com/20191231/role/statement-note-36-update-as-of-april-29-2020-assets-and-liabilities-assumed-details</Role>
      <ShortName>Note 36 - Update as of April 29, 2020 - Assets and Liabilities Assumed (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>164</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File>ts-20191231.xml</File>
    <File>ts-20191231.xsd</File>
    <File>ts-20191231_cal.xml</File>
    <File>ts-20191231_def.xml</File>
    <File>ts-20191231_lab.xml</File>
    <File>ts-20191231_pre.xml</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy>http://xbrl.sec.gov/country/2020-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://xbrl.ifrs.org/taxonomy/2019-03-27/ifrs-full</BaseTaxonomy>
    <BaseTaxonomy>http://fasb.org/srt/2020-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://xbrl.sec.gov/currency/2020-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2019-01-31</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>true</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>94
<FILENAME>R86.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6820952464">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Financial Risk Management - Financial Instruments and Classification Within the Fair Value Hierarchy (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,554,299<span></span>
</td>
<td class="nump">$ 428,361<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">210,376<span></span>
</td>
<td class="nump">487,734<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">19,929<span></span>
</td>
<td class="nump">9,225<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">24,934<span></span>
</td>
<td class="nump">118,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,348,160<span></span>
</td>
<td class="nump">1,737,366<span></span>
</td>
<td class="nump">$ 1,214,060<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">261,678<span></span>
</td>
<td class="nump">307,790<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">822,152<span></span>
</td>
<td class="nump">539,007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">555,887<span></span>
</td>
<td class="nump">693,673<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Finance Lease Liabilities C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">230,167<span></span>
</td>
<td class="nump">234,149<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,814<span></span>
</td>
<td class="nump">11,978<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DerivativeLiabilitiesMember', window );">Derivative liabilities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,814<span></span>
</td>
<td class="nump">11,978<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivatives [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,929<span></span>
</td>
<td class="nump">9,173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_OtherReceivablesMember', window );">Other receivables [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">141,898<span></span>
</td>
<td class="nump">188,185<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_OtherReceivablesNonfinancialMember', window );">Other receivables (non-Financial) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">119,780<span></span>
</td>
<td class="nump">119,605<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember', window );">Fixed Income (time-deposit, zero coupon bonds, commercial papers) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">65,874<span></span>
</td>
<td class="nump">300,410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_CertificatesOfDepositsMember', window );">Certificates of Deposits [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20,637<span></span>
</td>
<td class="nump">198,912<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_CommercialPapersMember', window );">Commercial Papers [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,993<span></span>
</td>
<td class="nump">9,932<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_OtherNotesMember', window );">Other notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">40,244<span></span>
</td>
<td class="nump">91,566<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_BondsAndOtherFixedIncomeMember', window );">Bonds and other fixed income [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">144,502<span></span>
</td>
<td class="nump">187,324<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,012<span></span>
</td>
<td class="nump">113,829<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_UsGovernmentSecuritiesMember', window );">U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,211<span></span>
</td>
<td class="nump">1,077<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_NonUsGovernmentSecuritiesMember', window );">Non - U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,637<span></span>
</td>
<td class="nump">24,912<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_CorporatesSecuritiesMember', window );">Corporates securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">105,654<span></span>
</td>
<td class="nump">142,176<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_StructuredNotesMember', window );">Structured Notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,159<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_OtherInvestments1Member', window );">Other investments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,922<span></span>
</td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,166,697<span></span>
</td>
<td class="nump">160,198<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">134,990<span></span>
</td>
<td class="nump">168,165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,012<span></span>
</td>
<td class="nump">113,830<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,319,699<span></span>
</td>
<td class="nump">442,193<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Finance Lease Liabilities C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Derivative liabilities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Derivatives [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Other receivables [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Other receivables (non-Financial) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Fixed Income (time-deposit, zero coupon bonds, commercial papers) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Certificates of Deposits [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Commercial Papers [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Other notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Bonds and other fixed income [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">134,990<span></span>
</td>
<td class="nump">168,165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,012<span></span>
</td>
<td class="nump">113,830<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,211<span></span>
</td>
<td class="nump">1,077<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Non - U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,125<span></span>
</td>
<td class="nump">24,912<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Corporates securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">105,654<span></span>
</td>
<td class="nump">142,176<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Structured Notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member] | Other investments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,512<span></span>
</td>
<td class="nump">19,159<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">52<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">29,441<span></span>
</td>
<td class="nump">28,384<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Finance Lease Liabilities C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,814<span></span>
</td>
<td class="nump">11,978<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Derivative liabilities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,814<span></span>
</td>
<td class="nump">11,978<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Derivatives [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,929<span></span>
</td>
<td class="nump">9,173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Other receivables [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">52<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Other receivables (non-Financial) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Fixed Income (time-deposit, zero coupon bonds, commercial papers) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Certificates of Deposits [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Commercial Papers [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Other notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Bonds and other fixed income [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,512<span></span>
</td>
<td class="nump">19,159<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Non - U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,512<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Corporates securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Structured Notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,159<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member] | Other investments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,922<span></span>
</td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">48,659<span></span>
</td>
<td class="nump">48,659<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">55,581<span></span>
</td>
<td class="nump">52,985<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Finance Lease Liabilities C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Derivative liabilities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Derivatives [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Other receivables [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">48,659<span></span>
</td>
<td class="nump">48,659<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Other receivables (non-Financial) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Fixed Income (time-deposit, zero coupon bonds, commercial papers) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Certificates of Deposits [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Commercial Papers [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Other notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Bonds and other fixed income [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Non - U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Corporates securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Structured Notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member] | Other investments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,922<span></span>
</td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">387,602<span></span>
</td>
<td class="nump">268,163<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">65,874<span></span>
</td>
<td class="nump">300,410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,348,160<span></span>
</td>
<td class="nump">1,737,366<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">93,239<span></span>
</td>
<td class="nump">139,474<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,894,875<span></span>
</td>
<td class="nump">2,445,413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">822,152<span></span>
</td>
<td class="nump">539,007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">555,887<span></span>
</td>
<td class="nump">693,673<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Finance Lease Liabilities C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">230,167<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,608,206<span></span>
</td>
<td class="nump">1,232,680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Derivative liabilities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Derivatives [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Other receivables [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">93,239<span></span>
</td>
<td class="nump">139,474<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Other receivables (non-Financial) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Fixed Income (time-deposit, zero coupon bonds, commercial papers) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">65,874<span></span>
</td>
<td class="nump">300,410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Certificates of Deposits [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20,637<span></span>
</td>
<td class="nump">198,912<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Commercial Papers [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,993<span></span>
</td>
<td class="nump">9,932<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Other notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">40,244<span></span>
</td>
<td class="nump">91,566<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Bonds and other fixed income [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Non - U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Corporates securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Structured Notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember', window );">Financial assets at amortised cost, category [member] | Other investments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">144,502<span></span>
</td>
<td class="nump">166,094<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,012<span></span>
</td>
<td class="nump">113,830<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">48,659<span></span>
</td>
<td class="nump">48,711<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">211,173<span></span>
</td>
<td class="nump">328,635<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Finance Lease Liabilities C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Derivative liabilities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Derivatives [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Other receivables [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">48,659<span></span>
</td>
<td class="nump">48,711<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Other receivables (non-Financial) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Fixed Income (time-deposit, zero coupon bonds, commercial papers) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Certificates of Deposits [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Commercial Papers [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Other notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Bonds and other fixed income [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">144,502<span></span>
</td>
<td class="nump">166,094<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,012<span></span>
</td>
<td class="nump">113,830<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,211<span></span>
</td>
<td class="nump">1,077<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Non - U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,637<span></span>
</td>
<td class="nump">24,912<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Corporates securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">105,654<span></span>
</td>
<td class="nump">140,105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Structured Notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Other investments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,166,697<span></span>
</td>
<td class="nump">160,198<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">21,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,922<span></span>
</td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,193,548<span></span>
</td>
<td class="nump">194,927<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Finance Lease Liabilities C and NC</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,814<span></span>
</td>
<td class="nump">11,978<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Derivative liabilities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,814<span></span>
</td>
<td class="nump">11,978<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Derivatives [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,929<span></span>
</td>
<td class="nump">9,173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Other receivables [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Other receivables (non-Financial) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Fixed Income (time-deposit, zero coupon bonds, commercial papers) [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Certificates of Deposits [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Commercial Papers [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Other notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Bonds and other fixed income [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">21,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Non - U.S. government securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Corporates securities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">2,071<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Structured Notes [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments - current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,159<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember', window );">Financial assets at fair value through profit or loss, category [member] | Other investments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments - non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 6,922<span></span>
</td>
<td class="nump">$ 4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2018 includes $52 thousand of non-current derivatives.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Includes balances related to interest in our Venezuelan companies. See Note 33.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 35I<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 35N<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current investments other than investments accounted for using the equity method. [Refer: Investments accounted for using equity method; Non-current assets; Investments other than investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount receivable by the entity that it does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DerivativeLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=ts_DerivativeLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_OtherReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_OtherReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_OtherReceivablesNonfinancialMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_OtherReceivablesNonfinancialMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_FixedIncomeTimedepositZeroCouponBondsCommercialPapersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_CertificatesOfDepositsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_CertificatesOfDepositsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_CommercialPapersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_CommercialPapersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_OtherNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_OtherNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_BondsAndOtherFixedIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_BondsAndOtherFixedIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_UsGovernmentSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_UsGovernmentSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_NonUsGovernmentSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_NonUsGovernmentSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_CorporatesSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_CorporatesSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_StructuredNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_StructuredNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ts_OtherInvestments1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ts_OtherInvestments1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R82.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790113072">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Accounting Policies - Changes in Key Assumptions That Would Cause the Recoverable Amount to Equal the Carrying Value (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnobservableInputsAxis=ifrs-full_DiscountRateMeasurementInputMember', window );">Discount rate, measurement input [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage', window );">Increase (decrease) in key assumption</a></td>
<td class="nump">0.95%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnobservableInputsAxis=ts_GrowthRateMeasurementInputMember', window );">Growth rate, measurement input [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage', window );">Increase (decrease) in key assumption</a></td>
<td class="num">(1.60%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnobservableInputsAxis=ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember', window );">Projected change rate in future cash flows, measurement input [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage', window );">Increase (decrease) in key assumption</a></td>
<td class="num">(15.30%)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount by which value that has been assigned to a key assumption must change in order for a unit's recoverable amount to be equal to its carrying amount, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_AmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmountPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnobservableInputsAxis=ifrs-full_DiscountRateMeasurementInputMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnobservableInputsAxis=ifrs-full_DiscountRateMeasurementInputMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnobservableInputsAxis=ts_GrowthRateMeasurementInputMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnobservableInputsAxis=ts_GrowthRateMeasurementInputMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnobservableInputsAxis=ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnobservableInputsAxis=ts_ProjectedChangeRateInFutureCashFlowsMeasurementInputMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R72.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790278768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Derivative Financial Instruments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock', window );">Disclosure of detailed information about derivative financial instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Derivatives hedging borrowings and investments</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,000</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,604</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other Derivatives</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">929</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,621</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Contracts with positive fair values (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,929</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,225</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Derivatives hedging borrowings and investments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,667</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other Derivatives</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(311</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Contracts with negative fair values</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,978</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,115</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,753</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory', window );">Disclosure of detailed information about hedged items [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center">Fair Value</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center">Hedge Accounting Reserve</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Purchase currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Sell currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Term</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 14%; font-size: 10pt">MXN</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 14%; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USD</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,999</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">888</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">404</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(411</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">MXN</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(576</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">ARS</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,542</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(895</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">EUR</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">588</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">203</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">JPY</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2030</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,149</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">BRL</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(234</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(131</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">JPY</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(190</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">271</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">KWD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">103</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">522</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">390</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">CAD</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(200</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,089</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">COP</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(345</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(23</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">2020</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(30</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(30</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Total</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,115</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,753</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,591</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(916</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock', window );">Disclosure of detailed information of the hedge reserve evolution [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity Reserve <br /> Dec-17</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Movements <br /> 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity Reserve <br /> Dec-18</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Movements <br /> 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity Reserve<br /> Dec-19</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left; padding-bottom: 1pt">Foreign Exchange</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(240</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(676</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(916</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,507</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,591</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total Cash flow Hedge</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(240</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(676</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(916</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,507</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,591</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about hedged items. [Refer: Hedged items [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 24B<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24B&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about derivative financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutDerivativeFinancialInstrumentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information of the hedge reserve evolution.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationOfTheHedgeReserveEvolutionTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>97
<FILENAME>R61.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6793236448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 13 - Receivables - Non Current (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock', window );">Disclosure of detailed information about non-current receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Employee advances and loans</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,008</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,740</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Tax credits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,065</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,025</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Receivables from related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59,999</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">58,128</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Legal deposits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,378</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,446</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Advances to suppliers and other advances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,772</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,592</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Derivative financial instruments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Receivable Venezuelan subsidiaries</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,222</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,263</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">157,103</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">151,905</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for detailed information about non-current receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutNoncurrentReceivablesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>98
<FILENAME>R91.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790621792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Segment Information - Tubes Segment Revenues By Market (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="nump">$ 7,294,055<span></span>
</td>
<td class="nump">$ 7,658,588<span></span>
</td>
<td class="nump">$ 5,288,504<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="nump">6,870,000<span></span>
</td>
<td class="nump">7,233,000<span></span>
</td>
<td class="nump">4,966,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Oil and gas [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="nump">5,757,000<span></span>
</td>
<td class="nump">6,042,000<span></span>
</td>
<td class="nump">4,034,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydrocarbon processing and power generation [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="nump">534,000<span></span>
</td>
<td class="nump">602,000<span></span>
</td>
<td class="nump">484,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Industrial and other [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="nump">$ 579,000<span></span>
</td>
<td class="nump">$ 589,000<span></span>
</td>
<td class="nump">$ 448,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.
Effective 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ts_TubesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ts_TubesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProductsAndServicesAxis=ts_OilAndGasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductsAndServicesAxis=ts_OilAndGasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProductsAndServicesAxis=ts_HydrocarbonProcessingAndPowerGenerationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductsAndServicesAxis=ts_HydrocarbonProcessingAndPowerGenerationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProductsAndServicesAxis=ts_IndustrialAndOtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductsAndServicesAxis=ts_IndustrialAndOtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>99
<FILENAME>R95.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796428656">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) - Number of Employees (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">23,200<span></span>
</td>
<td class="nump">22,967<span></span>
</td>
<td class="nump">21,605<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_AR', window );">ARGENTINA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">5,405<span></span>
</td>
<td class="nump">5,427<span></span>
</td>
<td class="nump">5,221<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_MX', window );">MEXICO</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">5,370<span></span>
</td>
<td class="nump">5,595<span></span>
</td>
<td class="nump">5,139<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">UNITED STATES</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">2,255<span></span>
</td>
<td class="nump">2,382<span></span>
</td>
<td class="nump">1,953<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_IT', window );">ITALY</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">2,144<span></span>
</td>
<td class="nump">2,155<span></span>
</td>
<td class="nump">2,088<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_RO', window );">ROMANIA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">1,815<span></span>
</td>
<td class="nump">1,852<span></span>
</td>
<td class="nump">1,870<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_BR', window );">BRAZIL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">1,360<span></span>
</td>
<td class="nump">1,287<span></span>
</td>
<td class="nump">1,382<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_CO', window );">COLOMBIA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">1,040<span></span>
</td>
<td class="nump">1,082<span></span>
</td>
<td class="nump">1,003<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_CA', window );">CANADA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">772<span></span>
</td>
<td class="nump">1,030<span></span>
</td>
<td class="nump">919<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ID', window );">INDONESIA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">616<span></span>
</td>
<td class="nump">554<span></span>
</td>
<td class="nump">506<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_JP', window );">JAPAN</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">400<span></span>
</td>
<td class="nump">399<span></span>
</td>
<td class="nump">410<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_OtherGeographicalAreasMember', window );">Other geographical areas [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Number of employees</a></td>
<td class="nump">2,023<span></span>
</td>
<td class="nump">1,204<span></span>
</td>
<td class="nump">1,114<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfEmployees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of personnel employed by the entity at a date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfEmployees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_AR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_AR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_MX">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_MX</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_IT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_IT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_RO">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_RO</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_BR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_BR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_CO">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CO</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_CA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_ID">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ID</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_JP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_JP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_OtherGeographicalAreasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_OtherGeographicalAreasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>100
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790388192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 17 - Trade Receivables, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock', window );">Disclosure of detailed information about current trade receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Current accounts</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,387,494</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,778,796</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Receivables from related parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,448</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,105</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,396,942</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,803,901</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for doubtful accounts (see Note 23 (i))</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(48,782</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(66,535</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock', window );">Disclosure if detailed information about the aging of trade receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Past due</div></div></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Trade Receivables</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Not Due</div>&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">1 - 180 days</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&gt;180 days</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; font-size: 10pt">Guaranteed</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">234,427</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">205,764</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,899</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,764</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Not guaranteed</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,162,515</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">948,449</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">157,960</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,106</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Guaranteed and not guaranteed</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,396,942</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,154,213</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">184,859</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">57,870</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Expected loss rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.09</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.04</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.24</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.57</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Allowances for doubtful accounts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,294</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(529</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(455</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(310</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Nominative allowances for doubtful accounts</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(47,488</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,922</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(45,566</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Net Value</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,153,684</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">182,482</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,994</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Past due</div></div></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">Trade Receivables</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Not Due</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">1 - 180 days</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&gt;180 days</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2018</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; font-size: 10pt">Guaranteed</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">286,250</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">254,743</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,884</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">623</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Not guaranteed</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,517,651</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,180,788</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">260,675</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">76,188</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Guaranteed and not guaranteed</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,803,901</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,435,531</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">291,559</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">76,811</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Expected loss rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.07</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.04</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.17</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.43</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Allowances for doubtful accounts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,396</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(564</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(510</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(322</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Nominative allowances for doubtful accounts</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(65,139</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,436</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(63,703</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Net Value</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,434,967</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">289,613</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,786</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about current trade receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureIfDetailedInformationAboutTheAgingOfTradeReceivablesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about current trade receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutCurrentTradeReceivablesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>101
<FILENAME>R69.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6775462400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Other Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory', window );">Disclosure of other non-current liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Post-employment benefits</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,993</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115,087</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other-long term benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">85,473</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">78,492</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Miscellaneous</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,917</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,550</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">251,383</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">213,129</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory', window );">Disclosure of net defined benefit liability (asset) [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Unfunded</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">125,573</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">97,318</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Funded</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,420</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,769</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,993</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115,087</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">97,318</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">101,889</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,567</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,849</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Current service cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,978</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,400</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,526</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,070</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Remeasurements (*)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,010</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,946</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,660</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Benefits paid from the plan</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,328</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,719</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,976</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">473</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">125,573</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">97,318</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Present value of funded obligations</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,412</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">146,885</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Fair value of plan assets</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(145,160</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(132,438</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Liability (*)</div></div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,252</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,447</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">146,885</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">165,485</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,542</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(8,182</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Current service cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">721</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,328</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,754</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,691</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Remeasurements (*)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,769</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,984</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Benefits paid</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,259</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,453</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,412</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">146,885</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfActuarialAssumptionsTextBlock', window );">Disclosure of actuarial assumptions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td colspan="5" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Year ended December 31,</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Discount rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">1%</div> - <div style="display: inline; font-style: italic; font: inherit;">7%</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">2%</div> - <div style="display: inline; font-style: italic; font: inherit;">7%</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Rate of compensation increase</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">0%</div> - <div style="display: inline; font-style: italic; font: inherit;">3%</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">0%</div> - <div style="display: inline; font-style: italic; font: inherit;">3%</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Year ended December 31,</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Discount rate</td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">3 % - 4 %</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">4 % - 5 %</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Rate of compensation increase</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">0 % - 3 %</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">0 % - 3 %</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory', window );">Disclosure of fair value of plan assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(132,438</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(145,692</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,137</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,514</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Return on plan assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,018</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,936</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Remeasurements</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,507</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,967</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Contributions paid to the plan</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,589</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,108</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Benefits paid from the plan</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,259</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,453</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">270</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">364</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(145,160</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(132,438</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Equity instruments</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Debt instruments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory', window );">Disclosure of other current liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Payroll and social security payable</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">153,009</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">148,069</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Miscellaneous</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,255</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,624</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">176,264</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">165,693</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the fair value of defined benefit plan assets. [Refer: Plan assets [member]; Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 142<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_142&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other current liabilities. [Refer: Other current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other non-current liabilities. [Refer: Other non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfActuarialAssumptionsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of actuarial assumptions pf defined benefit plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfActuarialAssumptionsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>102
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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MMWF\81AU8\K(XK%T-8943OTJDH\ Q:X831F:3LTXXFBD(3^ G/,6+V2?$9/
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M/_QNPM9K<S#_V/@JV'?PZR[Z+U!+ P04    "  "7IY0F5R<(Q &  "<)P
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MH>U^AO2[/IS)'R[::C_\WY =__2X^A]02P,$%     @  EZ>4*I8: U/!
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MYE.T(*UK7;2%RRS;%M/*:ES94H'=:>.>RJAS7 L+:X)1HZYU,R)#N23'T+*
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MQN/+QOXWQGC 5)(['*$./]AB2&A\.![P;*<QFPQO^OD'L>4;EW\ 4$L#!!0
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M\R\;^]]H[<!+2:[\"'7^@RV&@,:%XZT_FVG,)L/I?OY!9/G&Y5]02P,$%
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M-O:_T=J!3R6Y\B/4^0^V& (:%XZW_FRF,9L,I_OY!Y'E&Y?_ 5!+ P04
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M]K_1VH%/);GQ(]3Y#[88 AH7CGM_-M.838;3_?R#R/*-R[]02P,$%     @
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M5)T"[3JCB84ZI_>[XRD-^ AXZ6!TJS,)E5R,>0W&URJG24@())0^* C<KO
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M'VPU)#0N'._]V<QC-AL.A^4'L?4;EW\ 4$L#!!0    (  )>GE!7*(1ZN $
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M/]AB"&A<..[]V4QC-AE.]_,/(LLW+M\!4$L#!!0    (  )>GE!DKC &N $
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M_&"+(:'QX7C LYW&;#*\Z><?Q)9O7/X!4$L#!!0    (  )>GE ]TB52M@$
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M0.W"<>_/9ARST7"ZFWX0F;]Q\0%02P,$%     @  EZ>4$_R$E*X 0  T@,
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MU"X<;_W9C&,V&DYWTP\B\S<N_@)02P,$%     @  EZ>4'<=*>JX 0  T@,
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MU#X<'_!LIS&;#&_Z^0>QY1L7?P!02P,$%     @  EZ>4)S,A".X 0  T@,
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MU"X<_4 @,X[9:#C=33^(S-^X> =02P,$%     @  EZ>4'M2%R"X 0  T@,
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M!#0N' _^;*8QFPRG^_D'D>4;EV]02P,$%     @  EZ>4"I"*QBV 0  T@,
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MO/5G,XW99#C=SS^(+-^X? =02P,$%     @  EZ>4 \$0*NW 0  T@,  !D
M  !X;"]W;W)K<VAE971S+W-H965T,S0N>&UL;5/;;IPP$/T5RQ\0LRQ)5BM
MRJ:J6JF55JG:/GMA "N^4-LLZ=]W;%A*4UYLS_B<,Q>/\]'85]<!>/*FI'8%
M[;SOCXRYJ@/%W9WI0>--8ZSB'DW;,M=;X'4D*<G2)'E@B@M-RSSZSK;,S>"E
MT'"VQ U*<?O[!-*,!=W1F^-%M)T/#E;F/6_A&_CO_=FBQ1:56BC03AA-+#0%
M?=H=3UG 1\ / :-;G4FHY&+,:S ^UP5-0D(@H?)!@>-VA6>0,@AA&K]F3;J$
M#,3U^:;^,=:.M5RX@V<C?XK:=P4]4%)#PP?I7\SX">9Z[BF9B_\"5Y (#YE@
MC,I(%U=2#<X;-:M@*HJ_3;O0<1^GFX<;;9N0SH1T(1PB@4V!8N8?N.=E;LU(
M[-3[GH<GWAU3[$T5G+$5\0Z3=^B]ENEAG[-K$)HQIPF3KC"[!<%0?0F1;H4X
MI?_1LV2;O]],<1_Y^Q7_\;#-SS;Y6>1G_Y28O2MQ"W/_+@A;]52!;>,T.5*9
M0<=)7GF7@7U*XYO\A4_3_I7;5FA'+L;CR\;^-\9XP%22.QRA#C_88DAH?#@^
MXME.8S89WO3S#V++-R[_ %!+ P04    "  "7IY0U:KODK,!  #2 P  &0
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M,O-Q!*&''&_PI^.9-ZT+#E)D'6O@)[A?W<EXB\PJ%9>@+-<*&:AS?+LY'-.
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MB6-!=_3-\2S:S@4'*_.>M_ -W/?^8KS%%I5:*-!6H"8&FH(^[D[G+. CX(>
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M=',O<VAE970T-BYX;6QM4]MNG# 0_17+'Q"#ER3;%2!E4T6IU$BK5$V?O3"
M%5^(;9;D[VL;0E'*B^T9GW/FXG$^:O-J.P"'WJ50ML"=<_V!$%MU()F]TCTH
M?]-H(YGSIFF)[0VP.I*D(#1);HAD7.$RC[Z3*7,].,$5G RR@Y3,?!Q!Z+'
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MDPQ03'H/ @5$0+#]"?!V[LL @D(ZP!V  'OG$QT@4$@'N D0X/!\H@,$"ND
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M=',O<VAE970T."YX;6QU5.V.FS 0?!7+#W &DES2") N5U6MU$K156U_.["
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M[?7TEJ? JGX>4[+\5Y2_ 5!+ P04    "  "7IY0N&1MT-T!   !!0  &0
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MXC7@T!BWW=N]FM_R'!@Y+&-*UO^*\@]02P,$%     @  EZ>4-.O*0G% 0
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ME^.%&0,MNNDM(/.#E/T#4$L#!!0    (  )>GE ;%IVJMP$  -(#   9
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M%*\&A\:X[=[NU?R69\/(81E3LOXKRG=02P,$%     @  EZ>4">D?EG# 0
M-P0  !D   !X;"]W;W)K<VAE971S+W-H965T-C4N>&UL=51A;YLP$/TKEG]
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MSSESQIZAF)1^-CV 1:^"2U/BWMKA2(BI>Q#4W*@!I#MIE1;4.E-WQ P::!-
M@I,T26Z)H$SBJ@B^LZX*-5K.))PU,J,05/\] 5=3B7?XS?'(NMYZ!ZF*@7;P
M"^SOX:R=15:6A@F0ABF)-+0EOM\=3[F/#P%_&$QFLT>^DHM2S][XWI0X\8*
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M/!5KP*#6=KHW<SE?F#G08EC> K(^2,5?4$L#!!0    (  )>GE!OR99_MP$
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MP19#0FW]\>#.>AJSR;#8SS^(+=^X^ -02P,$%     @  EZ>4*?%M=NW 0
MT@,  !D   !X;"]W;W)K<VAE971S+W-H965T-S<N>&UL;5/;;IPP$/T5RQ\0
M@Y=DMRM RJ:J4JF15JG:/GMA "N^$-LLR=_7-H2BE!?;,S[GS,7C?-3FQ78
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MDV]=3[WFS4%C!IHXU$R!QJJAYA9I]% S0QHSU+Q%&CO4O$.::JAYCS1NJ/F
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M=',O<VAE970X,2YX;6R-5NV.FS 0?!7$ QS8?"4G@I1<5;52*T57M?WMD$U
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MF5G+?G[V&RVZX=L@&#]0BC]02P,$%     @  EZ>4):B>9#; 0  :04  !D
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MZTR*%DT+7.]O[$_.O#%S(@H>!?M-&]V5:(N"!EIR8?I9C%]@-I2B8';_#:[
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M0WO>VO,[ M*)58=)6LRYQ<0/L0-:0Q#'5 2D(@ 5Y5#I,'(PBXQCAXF/(<D
M=,=$0B82,-$.DPXC!K-H2HF[SM8^3##+1F$Z"M)1@$[BT%'>/%^4\D(#4)J&
M8J,A&>V3D<XT*^T_ <8U<7%K@%-,,>FLK0W 4<)C&2">0.()($X<X@CC/E&
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M(!TVE)RD7L9JS;MITFTD:_I)Z0WC.O\'4$L#!!0    (  )>GE#+*6I$TP(
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M'@<IC;!1HCM[FT]V?NTWA3B89IG:M6J'N'9C9-T-J%$_):__ U!+ P04
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M#V]2'#ZTU?[XELCB]*K*W7]02P,$%     @  EZ>4'DB?&?:!P  [2P  !D
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M@B1"M8N'Q8^ ("FM)EW:>DNQ'-$9X$*^0,F4L6LN%T!4*_()*R%I 5.Z35K
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MB,,S2L>XB\09F#@+$R<W*I^! K/)SJ$4WIWI!.]ZT+A84I B- \ TA1GH7L
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MW.&=$M?'ILJ;_C/8G)NV*L8L3DJ1_1J^CV7_?1GSOX?A 6P,8-< &G\:P,<
M_A$@/@T08X"X-T". ?+>@'@,B.\-4&.  @'14-W^<:59FZT6=74)ZF'&G;)N
M8M-'Y2;$IFOLGW__FWMBC6M]6^F8+J*W+M'(K >&39@/(G+9KUTPK(LU\\(%
MF?>0( @0D2((FR-??43'@'G&&#YGOF&,P$?,T:+R/@&?)% :CQ=HO.CCQ4R
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M<'P]>=^YP$D^!W<OX0KT:)3NU/6O.KPWXSU@;'3^.MUQLL=%:_,?4$L#!!0
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M(1E'2_>?U9MJ#'RJQ+QCIYMA_AOM7H=1MTL64TI;_;A<ZVZ^GI?\[V$X@)8
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M?$:X#$9]6CZ1)-?O-)M?4$L#!!0    (  )>GE")N$/0#@,  !0,   9
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M%G,1%%P$!#L;KBK\.!EVUNC:=Y1GCMY/(1^TED&M94"K\PNKTM>*2(K<]1"
M920KW:/&A^$4EC<*K)M>\%Q- [*1>["FWA:'*<3>U@OA8 F]$R. NP,$('?[
M);/NT#)QL)U71EM^ZI0Y8V?6J;L_0M-=''MENK[M.N]NABO##RH.=2>C%ZYT
M[[(=9L^Y8EIF>J]+>]2WE&G2L+TR0Z+'8FC5PT3Q?KR&)--=:/4?4$L#!!0
M   (  )>GE#7%:U2PP(  +H+   :    >&PO=V]R:W-H965T<R]S:&5E=#$P
M,BYX;6R5ENUNVC 4AF\ER@4LWU\5(*U0"BV3JD[;?KM@(&H29XZ![NYG.R;%
M[E%Q^4%B\[SO.?8Y(1Z="'WM]A@SYZVNFF[L[AEK;SRO6^]QC;IOI,4-_V5+
M:(T8']*=U[44HXT4U947^G[JU:ALW,E(SCW1R8@<6%4V^(DZW:&N$?UWBRMR
M&KN!>YYX+G=[)B:\R:A%._P3LU_M$^4C;W#9E#5NNI(T#L7;L?L]N%D5@I?
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MM;LEA&%NR .ZSIX?I(=!A;=,W&;\GO;'R7[ 2*M.RMYP7)_\!U!+ P04
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M/+[O]NUZN$IG9;WX\_ASN3G\_!BN?RJ&"]BA@#T7\'2U@!L*N',!BE<+^*&
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MFD6X"$A72K*>.P*Z<2B.+6$B1D!$;>X6,;UB_2)<Q/"*-8MP$4PUQXN.0[T
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M'_;MV]WQ&/[L_/\"N/\+4$L#!!0    (  )>GE#N7]CW'@(   L'   :
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M-Q0"AS0*F C*E8\C#F'%8YB'4"\:4$7':*P5^L+1KD)!'/6B05]&5]HZ.@9
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M<5-&-4-3,&D=6A2DB1L0<5/**>HP15W)FJ'CZ--*A6AHGHV$)/B&1F%*.@[
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M"<S-O1="<N4RNE>'\JC:Q7%0\KW4GXGZ;ON>J1](T0S]8# VI<N_4$L#!!0
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MI&IBY""XY5$TWV&XG1'8SU:!VRAJE0N 0;%9*_=!8XOAN8# P6 5N(VR+4Z
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MY5#\<M'5I_' ?W;]K\/B?U!+ P04    "  "7IY0>@[<&6\"  !%"   &@
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M:=O,3%OV!UO?T:(=#NUH_'+8_ 502P,$%     @  EZ>4( N.DBO @  3@D
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MU\]B_ (^3X8B'_X;W($;N'5BUB@%5^X9E3>E1>=5C)6.O4YCV[MQ]/H/6IA
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M<):ZFZ@^'Z^%<2!9/]UX:+YVBW]02P,$%     @  EZ>4 A#XGTZ @  E@8
M !H   !X;"]W;W)K<VAE971S+W-H965T,3(P+GAM;(V5VXZ;,!1%?P7QWC$7
M8T-$D":)JE9JI6BJ:9^=Q EH#*:V$Z9_7]L01,"MY@5?V/MXG6,;\HZ+-UE2
MJKSWFC5R[9=*M2L Y+&D-9%/O*6-?G/FHB9*#\4%R%90<K*FFH$H"!"H2=7X
M16[G]J+(^56QJJ%[X<EK71/Q9T,9[]9^Z-\G7JI+J<P$*/*67.@/JE[;O= C
M,$8Y535M9,4;3]#SVG\.5SML]%;PLZ*=G/0]D\F!\S<S^'I:^X$!HHP>E8E
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MW1?]I[(?*-X.?P$P_HJ*OU!+ P04    "  "7IY0W:\UN5D$   ]%0  &@
M 'AL+W=O<FMS:&5E=',O<VAE970Q,C$N>&ULC9A=;Z-&%(;_BN7[+)PSGT2.
MI8VC52NU4K35MM<DGL36@G&!Q-M_7\#$A9EWMKXQ'W[/\)Z9P\.!U:FJOS<[
MY]K%C[(X-'?+7=L>;Y.D>=ZY,F\^54=WZ/YYJ>HR;[O#^C5ICK7+MT-0622<
MICHI\_UAN5X-YQ[K]:IZ:XO]P3W6B^:M+//ZGWM75*>[)2T_3GS=O^[:_D2R
M7AWS5_>':[\='^ON*+F,LMV7[M#LJ\.B=B]WR\]T^R!T'S H_MR[4S/97_2I
M/%75]_[@U^W=,NT=N<(]M_T0>;=Y=QM7%/U(G8^_QT&7EVOV@=/]C]&_#,EW
MR3SEC=M4Q5_[;;N[6]KE8NM>\K>B_5J=?G%C0FJY&+/_S;V[HI/W3KIK/%=%
M,_PNGM^:MBK'43HK9?[CO-T?ANUI'/\C# ?P&,"7 )(_#1!C@+@V0(X!T@M(
MSJD,<_.0M_EZ55>G17U>WF/>5Q'=RF[VG_N3PV0/_W73TW1GW]=$FE?)>S_2
M*+H_BW@BDNE<L@$2FDL>@.2_"R6=RXM5AE9YB!>3>&-QO(#Q8HB7\U2%E^I9
MI ?181"QD)*-ERZ06<TJQ7XD]".1'^GY.8O4Y$+]^BA2GB&@4V2T(NQ(04<*
M.?*N=*^"U$ED.I->T6R SJ8B2R..-'2DD2/M.8(B?\6@*%(_!GHQP0C6^N5C
M@J1OB#-O43=(U<TA-F.A&8O2R3PW-BB*&VFDM9X=(.L*1V383P;]9,"/\2!Q
MGX5%*J0E[<,$Z(PPPE_XARPL,2:9ZLAM2"E&8(J\1\J4(ABEJ^%$F&[$U^!I
M5$VGAE-E?&QLD$YU:R\BGC Q"2+31]2HFEXKDU;*S/<4ZJA#@K&QB<+8),A-
MGU*C:E8;I"23\%T!H11*B5@!8'029*=/*J@R/CG_3S7W@\%)(>]"6HVB&8@4
M!^N&5),JF-O![*00GH!70.4O[.;GFKD7C$Y"[ Q812$5NP(2V@:W&A!*(;/)
M$VCN"@.4($$C]RMCDG%Z-848<XSI&@J-JAE=M,W\P@$RD5H;J1R.='V0BSZ#
M..0=*9,%3Q:@8YUJ$ZD@QEQDR$4?01PVB62E5<$T@68R(Z4BSU_&6&2(11]
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M],X';74</U8FER^FZW\!4$L#!!0    (  )>GE!NX^^&XP(  % +   :
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ME8JT@;U*\KU*8J^2'*^"H'E.;F*F5+!-299- 10=3Q1#^=[$3%<ZV*,4QZ,
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M4V'.F_&M?[SH]'GZHA'=/JML_@%02P,$%     @  EZ>4#9J;H&[ @  "0H
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M!0  &@   'AL+W=O<FMS:&5E=',O<VAE970Q,S0N>&UL?93=CILP$(5?!?$
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M:W-H965T<R]S:&5E=#$S-2YX;6R-F-UNXS80A5_%\+U7FN&?&#@&8CM%"[1
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MMB>"=J)%W9UV4'_DROX!4$L#!!0    (  ->GE#3)';D7 ,  %,.   :
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MH'[W1Z$K-*O4+8-.MKSS!)QS_TNX+Q.#MX#7%@:YF'LFR8GS-U-\KW,_,(:
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M#[,]<F?.%6C)X$EK-OH2F@L*9V6F&ST7XZ\X%HKWTRV#YJNN^ =02P,$%
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M::<]72AYG?]%2!Y_9>S^ U!+ P04    "  #7IY0:0DGW;(#  ![$   &@
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MM]B><\6T_N!9ZS_JE]#0J=A>F6:JVZ)[#G0=Q=O^J8.&]];R'U!+ P04
M"  #7IY0Z$NA%C8$  !E&   &@   'AL+W=O<FMS:&5E=',O<VAE970Q-#4N
M>&ULC5EK;Z-&%/TKB.]>F!>/R+:TFVC52JT4;;7M9V*/8[3 N$#B[;\OK[C
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MIM'_IM]UT<%[)MTS#J9HAK_>X:UI33EEZ:B4V<_QF%?#\3KE_PC# 7P*X+<
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MN)$YR4A,J/EXU4S IDFQ03QT+%4<2P(G&0F LBMT%[/D@L6%(W&)'2L9QY+
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M4+5Y?3C7'<DJ^^$1-%\_\W]02P,$%     @  UZ>4'?*VC=N @  LP@  !H
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M3U(/,S7FXS$Z3B3KIRM",-]3RK]02P,$%     @  UZ>4*:@6@8C!   @1$
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M04@<2ZB)>&(M-.I+P7A-I KY&8F6 SD94DU1% 0)JDG5^%EJ<GN>I>PB:=7
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M1S',QR ?&SY^KE0\J%0#"@RH;$ H=@,_C/UARO.AZ2SH4PH!F$( I; <I-"
MD-N+YON+P9'8ST*E  H'BXFRAZ#F$-",!@7:A4"<Q>"_V0.@8!$.%(.>(EAP
M! J.(,$3WTL,>HAGG]0ER%_..:G+T9F*D!^Z 8HGLM4U@1J(.XH6(C1L(&.0
M*LK$YXLF.A6"?/@3/L!.M$7>[-(BN(L@?TZZ8Y"2BB<"P>T&0?T&!<-(X]:
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MCK3F^NH<KUS09E215AKR/MRK5M_[4?].LQ."D1!,!#_^E!".A/"#@#\EX)&
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M5VE($NQ4 N4K%8@  GN"H.<KB1U!DO(5H#Q) ./?;Q3(1""W+6Q3$AF""@0
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MIR6!IXVN/DS+'9/SFLOE_U!+ P04    "  #7IY032C>/9H"   W"@  &@
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M/G&B6=(5+N<W]A?OW7HY40W/DO]FM6D+](BB&AIZX>95#E]@\I.A:#+_#:[
M+=QU8C4JR;7_1M5%&RDF%MN*H!_CR#H_#A/_K2Q<D$P%R5R0C%Y&(=_Y9VIH
MF2LY1&K<^YZZ7[S9)W9O*I?T6^'7;//:9J_E)GM*<GQU3!/H,(*2?T';&82M
MPBR3!&42S[!=,.P>P_7;8/W6UZ?+#M(T7;5Y#R(D"ZND094TI$)6*B.(>% W
M@F*R"\MD09GL7B9[6IL)@O[CA@1E2(AA[>8>E.W(2@4O#I.[J]^I.K-.1R=I
M[+GTIZ>1TH#EBQ]LWZU]'N: 0V/<=&?G:KPD8V!D/]U_/#]"Y5]02P,$%
M  @  UZ>4+OJ.LT@ P  U0T  !H   !X;"]W;W)K<VAE971S+W-H965T,38S
M+GAM;(U7[6Z;,!1]%<0#!&S,5Y5$6IMV;;5)5:MMOVGB)*B &3A)]_:SP:'!
M7+?NCX*=<X[O]?6Q\?S$FK=V3REWWLNB:A?NGO/ZRO/:]9Z663MC-:W$+UO6
ME!D7S6;GM75#LTU'*@L/^W[DE5E>N<MYU_?4+.?LP(N\HD^-TQ[*,FO^7=."
MG18N<L\=S_ENSV6'MYS7V8Z^4/ZK?FI$RQM4-GE)JS9GE=/0[<+]AJX>,9&$
M#O$[IZ?VXMV1J;PR]B8;#YN%Z\N(:$'77$IDXG&D-[0HI)*(XZ\2=8<Q)?'R
M_:Q^UR4ODGG-6GK#BC_YAN\7;N(Z&[K-#@5_9J=[JA(*74=E_X,>:2'@,A(Q
MQIH5;???61]:SDJE(D(IL_?^F5?=\Z3TSS28@!4!#P1$/B4$BA#8$H@B$%M"
MJ BA+2%2A.B#$'Q*B!4AMB4DBI#8$E)%2&US0/ZY<KY&\?J2=VMHE?%L.6_8
MR6EZ&]29=!NZ0G*9KF5OMRJ['\4Z:D7O<8G"-)Y[1RFE0-<]"(]!R1AT X+2
M,6@%@"+?'X-NIZ"4A&/,'831POX.8;2 [@%,B,:8!YN@'Z<@\@'Q1!&&2F"X
M$K@3""X$X@06"&"!H!,@HU2T(MWVF*C#5*I(@3:U4PQ)B#:U%IC[SS&CC B<
M$9ED)"8>P1(A+!%:SVH$"T33&,) 6VF/ "@(,#Q.#(\33R1"',$*":R06*>:
MP@(I--U82[4'R7UG*&LZ,Y15HL!-QX=&"@PBIIT+6>>+#)9#&(J#Z!L;GBQD
MC W>1@9OHJDYQ4BA/A)D3]-(!L\@T#2&E80,KD'VMD$&WR# $Y$_.5FBZ=S&
M!H<C@W/0U#IB)%.X!O,@>_<@@WT0X!]"HG'&*X4:U=B/8OW(^0(U/E ,-L.
MS8A^ JX4*KP8*@CU>+X C<,Q&!8CB_UEI5"C#<:?!7H\ "J=1>GHSQ">Z?P%
M-P.3B,'G.+!>1MA@8 P9&&F?&]<*=;E (JR?.-[%9Z"\\/S,FEU>M<XKX^*;
MLOOLVS+&J1#T9Z*V>W''&AH%W7+Y&HOWIK]H] W.:G6)\H:;W/(_4$L#!!0
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M8JBH\DZ G3:">+0H$&([=.='HF_>W\XFJD,.6KMF@F#G&3T'26^T#"6O(YY
MC]!''$=SJ7RIUP9$H D&0ZHJ)0-I"O5J;YR2MW0$:)<JG/;ZXYD KCY7VR7$
M"&E3LAO0R+=$%/29.DOUC?MHQG A+8Q>^VA8&@W&/(HG)??Z3(3T+M>0)-92
MKGG1.6I*.U5O%'Y5[Y]O7VIV<UO=K!D<Y@Q&O5/N-6\5FNDMM?958Q5I]?:M
M?J'%18-HZWOPK7JG)14_9>Z]NI$7B 58;A2Z<57)\"&![;",GEW#QL7K:0^,
M^:S>T[*U[--3]$#X<WZ+,\-/S7Z]$IF+,T?L%_O.SQ+4[1YBWHANQAE<BY11
MVH;HX/?$8'0X@>,@^J-*4')+K]I\K(F',W=A>::OP!1%+$#^LK.-CM (CHS7
MV UA**WKGHC+++?0L3[WQ QVD*R]\$O7A?'H.Z?,;.@];*B2V95*8&'-HKFG
MKT4*"><]=DHQ5+#QS:,9S8K-(AX^;^*>X4>=(S;WC,N%)M\H+B3K=D="^9QI
M=JVD"82M_,H^O$_GLA'.LCG"9HIM>1(-U+)9N;8=CCWWKH:OWE;Z5QY<V6&0
MR.=#E$33<><0\C6^J\BPB;."BQ=&S4VY5(K$LMXN]_>0 <M*,36X="#V-I;
MS,IWN 7/:(=@%L2VXAHT(9PP_$=B_-6E%T:3:@)_.Z(GA)Z$%LM)'84'>ETM
MRWN-/,7@5)J)4BR\[Y#6NG]P'P/-Y\IQX(G;X FQR>[-L-YI.;$VS!59E(FR
MX$Y9/6IN/E0?"%%(5NLGTN6]FH4CD0E'Y78-+R>>P%*TY4^,0-I6N_UVHP,$
M3.X?F[5RK?$T6$S(XS%//(C/L9+7L'!%/R6KH[4/U#%+//.A^80\'(/RY:?-
MA\L@8>*.X]C$9O@L$XG(PJBYRT2%DE8];X><ZBTL))8'3EQ1^?19W-EM52R9
M9R2?&EA/.1UG$&PQ[XC(G:5*I 3_=6ZKW>AN.Y(QP>\1AL"T)*!'W^8,VC"Q
M,K;[AJCA5- =8$H(%[:K9UV94.S-V,YU1I P/*R98C(\5/U8DH(K;-U-7=J(
M@(FL="P.+2VTT='Y2HV,I9"QY(AO7]<;Y9YTQ8CBR6NM3M.2V75K]?S<E<9<
M:7Z;QX,>>'/75I0:\\*J%K;1B< W6_VFJ6<:H8^P"OPFI"'1FBN ^TWG?>9:
M:)JRCD([M#U5:U"VY>WMMKI5.R?"3?BO+)-#)<9Q::5K^93YFZ,Y),G:W7,[
M7K/OG@+U;U="+;=-LT("B-*9:E"KR&!BMV.90EKC5L_5EK\^8H\.A0F @;@-
M8JJ5YZ83K)307C_JR1U,X)Y[EY8ZN\L*SFK=&IH:6GT.^6P1Y5JWD%%3B.B4
MDNX\8.IB\2UV$] ,#1(+<A:)V;"+';%?.?,?40=>R5J.'C+H$\N[NOHHMY+P
M9DSEV&'BU,!'$%"76<F^;!W*-SA"3ODRG&OZU$W.^>"YOB7]MM739-DA^B4+
MBW9/\J$+Z.DI6",K]>$+D45PGG6$SE)T+9H,Z^Q:3@$#YOC!D:>R!PV+9KO5
MT.+^4BFY.U@H"%6[6+X5U$L#O#5[IEC"D?EWCV7==K3S_K.T6"1+$4I&JV6B
M(65'JNIKAW-4X#:M/?O>OYH:%C<]@D,'V[[K=0Y5M5R)"2(KIZUBA_2Z$ST
M :XW.L55*)IV5>LY4,F6VE2\D2.O+%)VR=#F.@Q'@NK52A\,+4XU1^LD)6"M
M:W&D_4A7;04"1K_H>)>K2/K:3R(2=;\AK7K-4Y,C8'+FM3C0)*P]0EI7[&@L
MUH-;(>RV*97;V"I>;$3_E;0VD@L^$(;+2EN;2^74-TE2V'LL9^<5M:1WV11B
M#[XJ>Y<O]]@-[LVG<Z(GEX<W2@*<'#B1V$PIM0S@SEF=) R4NV2BH@.I^Z'W
M9KI$PX&O!JI]O1E1[$<9 S%ML7_"Q7,OH?]^,F$-Q5;'=%A?'5L+I)#%T"J4
MZ])4YKE4ZP @J5H)RK.\V>%-C;U:#[<;4C7)0,!*NHQ:8PHM@S;6/@9654,.
M)(ZBR=?<JV!_>^1(C[SG &;2&X&O-%O'>2?D9SB4',(.EYKP%%>K_;(3[^@Q
MT,XX11\A67VO^('O'G1-A<=.. ?-Z+I#Q42@V-L3KQ"A;'WOG+"AX[[J2J/I
M1\^)/,V(C5 &\;>-^TH5O<+#G,EH] [I6+P?RA&Y@3..9))">:SHA.R:;<=4
M<G7@N1.H:3OAT -+8EFA.0.?&.G<\:@1V4 BF0COTHGXS$<Q!S2C\RT*61D2
M-EE#!^%B'6WZ";SKU%$X6N0AR=CVI.A@&$?+.,Q-PNW%,-.B\+T@F,?I<R_,
M?>^/?PC2[%OONT;I,*[]KA^"X=O +HA!>>BX$)C1LFZ\*R*;E^4>^"\&I'RK
M'_^RV6\YCH^]X+":^L(R5EZENV8-#Y=:0[+!2%,5"+B,R(VU=$=*VC1=]E>Z
MG_?Y:O['/X1A_*VWG=.)+HFN&K!@9(&M7/-F9-#NU,UF(G+B#M'W9"NTYXM!
M&XO4)TY1>3^U?.;:B=5/YN%S+YHOLN<#UP@BQOIFA9P!;N>AW(I9Z:T1+]IV
MSV^U1214?)?&$Y?RVT(?V&UZ41#-\^?>Q9%5OH4INA%1I!U6#)+MEBS@[8)V
MPK%]V7W1S"1SJ65=\>)A6Z])S>* ;^H%\\C[[OWK8![F\C/UGBWF"6@QP0<)
M<B'P,Z._GP4I??^W/2UF)'ES],=:@V,PN6&21)3B:?06*<\2^]Y;!U:32Z31
M5\,*%OKO.$>IEC2?TX&(LWE 6U/,D^=>QA\D\X)^E8T"5NCJKQ?=6 @OWNI\
M_\ G@31R#B3(0G*,;;M?JV"+WEG?,Y@%OQ=7ADJ^-N@-6DZPC+J]-XJ\Y)!H
M6N%0G79/D#D)%U.UW+/*U]R05@/C63DG+N_ S4N-P/&N-0QII6%(C,OXA.)L
M+$>/O5Q8F-IQEW(U7=FQ\+OFG45DX02.IY9,>=?KG?->Q?(55!#^JL=SFLYY
MBS$^ $>YV@.6H9R0XAC;L6FRJ^\KMV:1]KCOW"&(J@7-FM@3\3]%JSDHB-Z]
M4<EMUA$K$S(H)OTD'^SYIKPV:ZT9IU$]2]3W4YXBD^<F_K16L _'&*!0E)I.
MO765^XF#"I"-W1P>UM<?E#^=JP])S-4"]#NE;&2^G>W "Q2@<?WH0D[8Z#]Q
M'KK&%!./\^[NBCJ!YU9!0O3Z&J&D5*Z.Y8.M4A)37W=NE#052MA6EL^)5./Q
MCV[1Z*3L;#!,N-V[(1BC1[%5>]S88/^?90[*>VOL>=^QAFLQ__<3YLBL1%S^
MABU]DIA<M2-GX7C+RJK\9"%'.W\Y_WEN,$GJ2P,#@U)KD)A=WX V!D68QB17
M(C*1PO"YO$S%1[B@5:NC&@Y<7VV,;R6=EN 8W,34?.T78ML=IMF(8.6S*^@B
MNC (Y]ZE=U7=JA=;!*ZCK6&>S?:VM"X+$CGX_L/^FD;?FKM5@2\VN1A[8;)M
M-&3J&BI46Y7W*N:Y B\%10F.:K>_WB.@J^YN%:&M%9UM/];+JM69=YKC-K54
MAKCE2,"*E!0 Q* .U$L\#2I-#2%,Y %M6;T#;F RG=]>?OCAS.#"5]M:G&FV
M>)H0&UXFYU&]@GT^ B%R?'+.M)GWLITAX4;ATUI7%;/ K#9<%+P"1$/-8!GF
MWG?:06KAZCT/0FTW@J,3LD:K"DDRK 5O)A<+*4+KU2<ZD+X$?FKG.Z;Q^_)?
M4C\1@9&M'>T#TN/T*'MKCH4=KJL=/R!.]WII1QYG VNC8P:KL/#)]:/82!\;
M<.>UX*1E\C RZGLZ;W0-:R LI6WA/?5PDMG[+;MY1+ZW"O? (X=K'R=Z7>T,
M]T->%3[7\HS>MA, O9FL12-82"\_>TX*];IRO4.8 >,%V)@#^H-U'28J!$JW
M.S,@G#X=NRP]1*SU[0B#TS*MFVN&"#AYE!NR"8#@YN&1\4,*PU(*J2IJ6=EG
MBA_,%1F(11BM[7@-5==F-0@P)=,Z+&,N'JW6L@[XHN2878]0/$MODU:F'N)@
ME,#R^BZ"2U;Y;.%58HDL34F1^85>,[O\_NV9!Z$%N.UF=X>%K*H=&T@"EJ@V
M-5&H!1GXUDGFY+@9*!L8@S(W5"U7>\S9;/U85Y] .!:4ZZ;:VHO%B\_!)'48
M&#!H4.7P8D-I!C2U_48;B^#+ +P8I=7-$6O6S:UH)>4:YW17&2^/*45$,UMK
M4Y9?*-%Z1!OW:\$INV,OKUNB#2=95_,_2.P[U(_79]'D7[;?C@Q6(KL&9>:X
MRVN!:J^9G8G<YBD99*H:L^\,VG<BQ6:N[%+L0:[-4,2WNH.TO75">"T#O4@(
M6E2# MZ)V+ZMFMMM^7#'#^QL-7#9*!9.=OV6S/G->-$N(#5>6I^U*O1DX<CF
M)M93 @F#G'*]TA4=$8X_':BUJ(_.!_H:.TY!GW!!3L>:,W 9L(B=BY'D]5^S
M&Q%8W5'L#4GSZF,I2F[_K"K.967O',DFQ%>-K/]N6_Y:<UX,GJQS9+KJ+6N;
MPSB ]B^*:=!Q]C/=Z^VUB#D+=9N(*K +F>FF'UKHK;5O"5M,*0TGMRDBG1"O
M/<Y7#H]FB;ZI;IL=8[E\&JJR-I50:JO=;BT"U\74L^N6X9,*TV#G($2OP]Z=
M$;,#@]\NR$OHE&I0[[:LA\FNTV(ND4F$]=R6GXR/6!>:>-BK<ZA&<&"@EB\X
MKAN'Z?,&N"A 4[; U#,P<M82D<(F]H@=:*-*Q^GU@I@!7#E&"-%KM=98X=M.
MBHXB(^==RK@:=52;=),#$MJ, "F+1Q,['+KH0 7QF0EF3BRQ@#F<M$$GHV3-
M5:^<@P-M:]UL;L]%JC.<2NRG+1+)MEH$LL?+81%++N XYPA5)X)=;]S']^AP
M[+C]9W?SP5=L5R*\S>2U%GC;61\)X9:UJ+%=T%(O7,"!)9NJ(_YZJ9<JP9AS
M'2J?>RKA$SJ?=E9M35J3(,R_\6;U&;23BE/WY$'NV?]/E\/.&%EQ&@%,M#(#
MKANQ@-[+C<;E@* 4"I<FT<]J.LASGC2\+]Z0;YDZ9_7)\^F"J_Z[9_!)@S9<
MC$WIRJ:Y42O,$R5 S2Q"XEL2F#-!:O%(@_'JL C[=+KAZHT#:.Q4A)!4J/.*
M<V\Z<^#HIUK."3[U'Q-K![_5GZ?DQ_>70S4F,";R=/ \$N:R-IQ]7!]_\L#?
MZ\#HC2LAV-Q]BL("J^8'A5F3#7) 2$[9DPXB83<,FI1FC<QH%)U6"@PRM7WJ
M0(W<KF'%1KWN,Q'2X+R#A6*/?-L/7G<4^,X$Q3^QVRKS@SF/>)F6I'XJ V#5
M+P/C!'"%FN;>7P?L2QFG3L41X1C0%C7$9JQ)0&\#V-0"OYD?F[1&+AHSWSZH
M'>)^QM!SKA'.I#+$J0H=W9?;7ZK=*,A7#V-.MC+\/VS1E7M=A_5Z7W,@L5.)
MQ7.J$6FXP>$R'@VT%P<63E=?RR+>L<W)RVT4"E7F:IC3H!=7:GNS+JAVP8V!
M=C$-)'7O=$9 9;TU-DF17O?8*!\ZD<0M%U RURDT]3AR@H3XNEQR-M96Y8)9
M.L:*0B64Z)?QFR":56[V2%N0J(Q:.<T)7"ZH0=S&7=8V:Q,)YPK;QDM!GSQJ
MS)'"27,O'6CTINJM,IB-)#Q*S[WSYFB/NAB5DSS2IP@5JY5E;W<=PF/_RB"U
M&N9OQ O>.</*J>\X5D#=K$;Q(A!APM'HW,%^=^,1L)*YF\^BGDL3MSE\G>'R
M*Q3$H]%0,C>9C2,6^%S[*=BI=[,'PO9&/*W&=_,:M/FFZ0[T.W6^6LVHM@9C
M%"W.DX7*UW]GSI3C?+''*UB<Q_K2GRNB!Z[[?+/?;H21B>/J,Q]>WZG^:9\0
MGP?Z 1\,<]!!J^ZD%0A03_.C EXZQM3#X=$*E>N-=(!?XH9!"0DR(QF+Z6XS
MJR4:?2LC-*97_WS2_G\B>Y4.']E$GP#AN:]6>*3$ZV0GE]@]B96JNQP"/?3H
M6Q:F2C'H[O[PJ6 #VJMH'DK6@;JGRXK<5?4=0,/$84'\7]!YG:B/=6-9NFYE
M(3O;I,$4TN?A>#$F+NJQ:XWG;.?N+S$TK4HP?X$Y@Y#9=:6>"B^?0O$K1422
M3'7PPO0,T2EB? JU#.Y&#%6$MMEHKK53C0DLF\&4?&T1G$FZEEY?Z]+%,77D
MO)Z7(.XVRN\SLF9\2XN4K9.6;N[]T%=H 2579;!46JCU25VKNC,F:O^@:R59
MB/50(CF*74^C<I&E_39G@X^-I'KI#6KYLRO3Z*GFEVUE_*7*_G'S1QR!(ALT
MGN8Q";M$6D9](.?'%3;C:I*SM,J3P@6Z+.T9.Y[4-C,KN/BJ5NF\R$7$IJ(M
MH(I+.FJE5'TRG8O&]=(1-?15_R.0Q:VQ Y1A\+(+=&<WE;UQ)V7&?'M?)RL?
M>63>Y0\_09@+-@DP@A]^<M2 ;C*WE!@U!L9HVH;H' ;SS!>:UZM<8EXZ\0I=
MBI^^I\UI!Y8H)O</>_#4MKG9?1)/(ISN]_WX60_D:A)1NREB!C0N"H]1X)VF
M4Q+.^UBM&]7+HNP5R$8.MJ1-:R;M&HKM8^OX>MPQ#<K50:Z,J;VLLK$&/]1\
M<80J5KP1"8QRO]/[5K^<GO<O=MGW5L7J9*H"YG$E2!_*>ML30G;I08J1]Y1&
MB[^CZ,.2C(H^F/JOZR6_']'JG51)X&)7L(-THPWH&.+/V%7+NXU$S0[>Z!^Z
MTR:B'4PHG +!GY)S-#*XJ<&P%016X4R;:8[)C3/!2&ZYNJK2X(^P,+>@*N>9
MF;^>K')K#N4HW)8$1]3ICUIU7355RUM/&NN3B!&*K5/PPQK@8VL$Z=!?)>Y(
MXA8B!FA]NQ&0",T2%2UU*A!]^RQ/Y]D1>,[_E0,2PVM%&O5201DL%[1?=.U]
M"X=T+W:L296(UFG?VONK-Q#O61K, _HWFL?\;^9=.@:D/)N+RDW,(O%,AQ.M
M#;9W]0/76QXMVA7YO"@3=YUX@)]Z;/U#1TYI:K_GL?/&F+Q)J3.2WQU6HXRP
MSWP$ 3:.<=8*A2>F'?!^K;9$W\&B>-H)'*EW-%7I_5D6S@LO]YX5](-T3E=5
M4LD4@\C9:P2OUA(@4Y+70!@Z"N101'=LTKYRITJAD$[1ZD@A+C&.EVVE2O0)
M1M(Q=/AM2UOE=<:_*[T)P]K31K1<&H%4LC.R%1T+9IA'H>/('=>R09[MZ+2B
MV 5K>XKJ5%E^1NT/C366%+[E:<!8:BBU8%EM@D!/Q^^LAF92)E?<0%NTBM@*
M8'_=5;MY-8#_I+4!*4C9 :V6TLO_Q14=FLX!.+A7GW09.85-:#HM3KHH!97,
MXU2[Z1M5&F+Y2OP-+9\N>H4*"W#$KU4U6U8*)*C&SYN ^R\V?<6_E]ABJCO(
M.Z\?G1)=AUT1HB2V$^X,!1T><7/(#MX1>P &R\DDZ;[.A,6XMDXW)K$6WMA*
MY$,;LI(7/3+=CCG">6G5E!7K^*;U.:"5K/N@"OA(M]]XLQ(%L;: *QU],O;)
MVE9]T!J]1040K[DHU<;O0K2[8\*Y]6;&GN)C?&8SG10&Y%H7T)P8D>-?5!,<
M?:YO@".X75N$;MJS%@&:^Q_=*0N%V;?*-6YU+F.2*\>\P\ 4<:N @F!!B26Q
M,H 24?J\6_NQ6Y:.5MEUB'G_VJ]N=24Y5;20=T0/QBV6-1B-J0OH#) K?8F;
M4D;TD1LN6Q<.C'<]-@2[Z-[1AW=@R>J)7%C3B%D]-+%V2?FN_[V'4?]F3#8Y
MH41#@^)$VK/3:=7+-!PP.=JVMI9:.72>6=7<]:$$8B?8)I>W"J;+%2N78H(3
M.9B4Q Y9JCDJR)-;#X2_.:\W7&0+(6I=H,;X550TQ+(:55+T9_?.KJIR_=A=
MP X%.MO .DLI.#O^I^\GDHRT9K\5M5Y5D-1<3H/2.VAS@S+7)WP,?*Q#24;$
MB41D79:!V!NH>5)'J@O]<1_W(# J];!:A-62H=JC>.G^R;9RYY?JT2W-V3O!
MQA21E6C[_@I!# W/G05CPK\%38V4"A*/LO.\MKT7&[RWME+4[G7%A5/G3M4/
M)*;VB51QY@Z2VG'_4.UD"=E9JIT@"(VA&+13O=@26G_W+2I,.4-D;223I1W9
M"G^D,7LI^4/NQ69SMO4MZ6WTKR072!5=%P,GS+7#U>[*'L2PLCS5357KKZP;
M+CKW7KCK]TT77>@4-OW4;SBOO>"F7\S?+RXOSWRE5DC)+I8FVN-'QPL\J9O=
MK.\6+/"N_$65'[%EJ<20T+D8.O6"SQ>R]75ZG;*DA+1Y]A#H@I=R/55:("-+
M%2E=X-<>AMY#Q?PF8Q%3ADS*'#FH ;(;Y[3D/U@:_<:I,R<*+QD7G#VGU]DE
MZ,-Y*C(ZU138X0 .<V B\EW%;"69$RBE>',#%8'TYG5E,AX_JX3 F[I:KPR#
M&1@-QL+3(IL$]&ZK+$FS"K0&Y][;P5EQB,YAB^7ZL76#@Y*XT&4PO??;E%DU
M#->-8#/XUH_8A/?ZK'5>;UD95U3FTOTD0[YCA/]?][1D)XV!7S XO;_Q1!WF
MJ9F9LM*@D3A]P%05&8"0K.B76KA28TFT$H$(MJH,YW4EH3/5N4)ICAUN*W5;
M=4L+7.(2JV;@8_0RP4]+.8!UTX7&Z@/E'^7FEB5WQS7*H!4M5Q^;=2?-U'#A
MN8F),"^1.J%.@7^C85M]O\4%"IHFL;6V'SX<WM8M]SB&&L?[K3.@M%5I*ZNQ
MV7)(0Z:O]G19[MM*/]"07-]D8)<C;+ZI"#8X)>=D_71UP<=;_^$/-#1UAZN1
MZ2/0D>3RPFK5+[]%9^]9L,B'KAN\]Q!I%HGWW0/[@N2BQE0T,@1ZCJ3XYX-+
M1FF3+D[F$5W]IAEZ"?_J#?J CWRBT_9L#ADK3YT^0..=\IA2.<-:M5+1L>M[
M9)IQH38 )P5+AL5 P;%+!:&!#VLUUHB[=!PA+KB)RYFQYSL<F<43!BE.QUUU
MJ_K+0>_HOUVEPXZW .R6S5&YLES$%"3#)[U?_H<'SV)R6ZXTE%Q4XDXF%=*&
M.1I;J1JTSNM5W6SQ:QC<Y8YS ?KOZY8.<?M)R(WO5'WIUN2NMGU8Z.0#2R<O
MPD';*O.K8W_SE?_>-X**[3[1AM;,T=,M":[KE6*'IGZ>DIR,!QP=)M;.U*OU
MG-;SG=_9LV;ZRVI7GO4#F7),"+M+-1W7HOO@P*/@TF8Y+&FVS,;YM]IDQHJZ
MR:67*P:_=[)'?)V^MBZOFZWO$;/7C0!NMI63S<_$WJF'[%KG(PEI6I^2Y'@P
M,8%W7G>A<#(?I7H:8/#G[C/5H]S^&@?Z#&KQ[6/J'9U] QI?6WO2?45)*B'7
M;G2W2A?'UY@%]V$O7[U\J]SZUN*W?1S&-D]S-?UXXN#L:&+WO=+'C5GAF\+;
MS=8LM *VOAE[>-WW(K42&5"914H4L)\9'AD2"%OA[%:',#6R'4> =ERIS%R3
M:ZX>;EM$_* IC['*]4X=4H,< ]TKD&QG(77#0">-YV-3VV8%=FE5QRBI%P@K
MC1D6)XU?MPW2AKG (@IKWS<?Q42QJ^U #[KGQA\<&E\/2O&F!\9#E-N=,J+P
M"D^]PGV[>:[-UNX,M>XVOC++,*+-BO*KN__PT[SREEXHX+OQV?-@1Z8OU?DF
MIG3"J/YG=SPB7B2G@\W7O2D1O+.E*Q3:URFIBJDT")R#;<J@VR6GAJWV G_5
M$73!A4O<P)=Y>[H:A=;;'LH=/"ZT)7]#:L&J<CB5K=W6'OQN(*<<\'9'ZK+M
MH/VHQFUE]=5>25Z%9]MO#(R9YF.KGK%#D%405VFV[?(,$J_M%/12&=32-LR=
MA@&E-1RP43ZQ9;->2T%N58"T''76<AB%"^>KO!P>XGVODN?.0;(P6W2R;4S-
M=%,I3O/%%WL#:W;*X7,5@,I7\GL$WSGPCX@C\;Y2);,[Q9\MBR@5@>-J#C@7
M2N'[7][E5&O  ]^4JL*($9W27W#'O?NXM0Y=O.)F)=Q]@<^5G:6K;(PHI6XM
M9(SQU;'R:E:#>M>TJO;I=;=1X*#FI0&>MWT,FPWNG-!4V#^P2J]-;V4OT+]:
M^AWVM!KMT%R;#LTZ#Z23:F^D9Z</LZ\R*%73<%]]2ZK!O2[+H_66UH'9FQ[C
MCN4U N%P>ERORT^=C,[1''.;).0;1B,O\FW16U/]C_6[J;+<AP<FU0:!ZKOJ
M=*7N,(HO[1@OC> /069Z?=_E!F#D;!5--^6VEU,QX?08[4')Z2JC71QU^2.3
M<\SUF52MTJI6'ZH6(1S<E]07+'!][W8U=ULFJKX!(UT11W:!G2^/YT0:SDGB
MH;KU1!%_#A/O1_<@.K^>*'Y4!V.WU%ZO)PFS'I=?NRF67<8M(6*G?+H;?S8P
MY]G4.\^,;*>G5TH46\Y]J+RT1;^H'E+:AV47Y"2A\L:[5$8:AO*B4K7O:]M/
M_,-=Y?ZI$:K (M"5M5.Y6@:B5&=<JQLI-=T.=7*AH4*Z4N%8^"53D0%G#,9)
MS0[X?Y$8:%?UTN$<"G5N&>)*3XP[I$^DIO?SAVA'FBW4>Z>XAJ>\V/N-A WI
M<1K^_(%^/U[ELU]LU&>?E"X8@4>P+GARQ>UFVZG2+^6UY@YKW;DK)^9<+W@Y
M%M_GB>$\DCK 'G>5 XJ>9.S;-E\HN[L;M]53E]B%Y(Q6JIW0@ NY^!]![HN*
M:<+O70KI!*=T>S0^Z=K7@NXH.O=P5_Y22<U@$(YJI,)<1Q<J1Y_U>J<0\S8'
MS2$]N?5VORXM%W;P/'RH'B"7C$7G&EA..3SFG$Y.T'STQ'6)".-XU"?9MCK0
M(+C-%)VJW%J7(^'A9I>G3H%Q9/5TR=; 5D;DR[S7/G9Z3 Z8HC+=H$>5  25
ME6^"ZT:S)\,9=:<&4,>+(;7,IA-8?*?40=>-X+N[Q4 %U44)3VD/Y3([*^I@
M+T<S.)Q==]F1KNW<0U.Q\+ I/N#]O#/G].4GM'V=>-Q8X0U'D&EZ$#S;:/8$
M4Y[>=?:Y*A9ODOU-VT!3J%K) DNG#"[@VBEN21G-72Q$66KG?Q&SF5Y/9RF[
ME;G%J)S.WNW)))4)XC25+#FGWVU .4[R*FF,?8&_GE@]P\9I$#!HI20?RI?;
MOBS#^;I(&74=HE-.5:HC3YA8(6B_UQ6OPLDKQ1X5"9:,ON;:!&^J56_S^JS(
MV4SM#3Z5VE6@61.K@C>*G<,D10=H68D9HU5>=8^6G(?>L''.06>:IKV$.,F,
MS5X*>U="0JP)B.K+\9<-5J,S)25+*VFN(?F I\Q,&.>.%6K5AP?RCT^H1"C
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M>@TL[--) 18 .]"QYG&JS]J-:CA:TU_<A!OXWWN:Q9WPWIK++$M:@:!HW*&
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MH2&8[^;Q<]E/*Y&W%2B JQ;I%W,M/=./S#8C(^+R$OI?D#[WZ>@\)\7JN0;
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MZC[]P1H"")"A;D2X2(#X0G])E#L,^ \\WC$: !(AD4=2I(C%0P ]IDBY*DU
M)K7S7,FM[]UNUS^ 7QCX[SP6)%+&0#[$H-BI(OU]8)TNYHO">XX?,?\(Y4<"
MO_,)M74X/ + N,1R8\9&SB).\W@C[:K8873T27&FPNF,P)+40GH<M[^6U&!Q
MV+NT@-I*:2[''@ NX.%I.+_UAN:=#<T!S%QPO=:,4>8D'V(O#:/A=B:H490
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M^3E1)W^!LN#X6J.%W0L6\OUD)!)'\!-7IX3*A3)\MT[W9XD'.95$4% .Q?2
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MK/=&M$&!H<&(S#U(1.-V/'(ZP0^"A'$' AHP+C>RMY+P4+]*IUTE)M!':9N
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MOSTJ-1./1U_ !\::Q,SBRUL 7+1S5Q1:@P>L%! QQRDMNKK!4%V"Z1$ARL<
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M&)F^ZX7:9^$;XXD[WYGTK:^(#&][M\771S2E8*":FA1._,$ YX^[<J3SZ-4
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M\^"N#Z2='*!?RL!4/8WCC-'M.C![DE&<CB4K.55 ACQ.TZ'C#JY-&0JF .P
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M%-PUK2!+$L +:(&T<;]I"1RVV"6I,T;G-36>QCFC3-F[[7QV36# K6 *AJU
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M[RXG@$0ZG[P^??\V.B$J/__UY!*_FSF=1!_?TU)>7'R@";Q[35MTMEBNUJA
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M>HXJFSG,\)\TQBUHLV<JHD5=9/>5WT;(G<?M>!LA>Q->*,!L$H&ZMMQF/7]
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M454L7F3RU=U Q[)8^P/%_^?/ -9;/_A/@=9UT2XA#]"X>)O;G5%=0?Q%&U<
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MF?/NK-40+)%6V??V1?]<3V\-OJ'M+\I-L60R/H3;QFPL6F6K+X+Z8&5&GQE
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M0:0RW&1P&)!NSK9@39NQT"LNH0AJD&)3<3DKKQ;+."(Y9SISW"PK#^*"CU0
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M]MH&:U,;E59*WD@/0Z,Q>$#.&*24[Y6T3+/2;6>(Q3O7X=7D4J33N7-5L&I
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M?KE7$BF+#V,[ B_UT6;U(=C<DV9YL@!<_6\A_6YV,N->=&*C#-S:C/N:=>S
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M5?JM(VSI(6.1-5([IT E0#@7ZPKOO &CMXW3;]W3_;3+"V)/$E<?;XC(T]-
M=I]!+H(L#B[9 7"X(5)IBL2>U&L]!4+&C+4S#WS[:K'6?)G.-DH*-?6RSM+=
M#L?_+KU4VZLY:77!4+6S<;G%+?Q4#B$ZA%7N"R&PG#2;?^]$214O1_6OM:0<
MM\7D\]?Z_PC@Z2;=GO:V:X)[DJ]7_.PJ$C8ZV$L%Q_/7:3)S[;C0K"?Z6W3
M962'LG*+=5/.Q9_QL7?1(X5\-@.1=63N'9L2D).O#S+[OR%[=*/5O<W>BR;+
M6S!EXF)G5;.@R_D1K_D1T<%X$(^2)#J,#I+1,!X-"_KU9+W<N"[I9_& 1L.%
MQ2#.:?3#Z*(D:4P/(!E"[/.\?J09X+XHN+&(!Z.4KC[:]&4'>]!M'L!1_/B@
M2(:^2?>";=B1"!GI =RY'S_L>=4;+H[G61[\QV%4#$=QOY]&8\#U#M)^G!=)
M-"[HC]]1\,*%H;AVD,<)\2)\D8P T!/AADO&:":[C;Y,HT$VCI'1_6)NO,4(
M"_RI0.L0KZQD>#-^Y4L(_S?/%W9L_;SPU+'ARFTR.C;DV'"FT$T5O?D=GET8
MLM$[AM1,]&>J/S-CUV[''$OB :US.AY'V:B(A[0M1T!$&@[CX;CP?CL",ORJ
MC>N;)OTX*X;1D(Y-D4=)GL<#&2++X_&X'XWIE.!O(0'U3QS 5W^DOOHX^K-:
M(K*^?D!Z HJ^&$;\OEI*I5])\I",-7V$_CBR_P-BL7BA18!:(&$BK&%6F!_>
M#>VQ(TPUTW_==?*V2,^C*_IQFN?FA[OFYX7!81/1=N._IK<:6]>%3\HM)-.<
MJ:*IKE&.!JJ@I4V)%1UU_'+$$96==Z<C?6W[2S*.DW1@GWQL"NV:\*&#>#C(
M^6&;OQT1<3[AOJ"GC-,Q7VM_M;_(DIYZ!.3;(2DM3<8/)/Y <QS27:GYXTC_
MW+WBYMK-7[JH5T8\LF.[WRXW4!>3.,M'=!KZWF^.#LZ]*X]Y=N^/F=>EPR0>
M%B/B=7&:C2.Z<3@8ZTWZAPGS>\_*DW@T?N9-!T$OO,,HH54O1OXDCY1W8O"<
M3M& CB\=\"+#,:=G#?(17H[N&Q([2,=QGB?18$#B*@G*N3UL+?NNAA^;G]XS
M>2EM@NB !AR-"OO37?A&G9CO6/7Q'VB?DF9]6OC"_G0W/TV7)->%A,UOYJ=9
ME&%_%*?]8<<5+V+;(\>V5:'\"[AW3J<[&R9$9J!(<"^B2]K,D?W93?DY\?J"
MSEK6)^E+.CBX?'^<$T$0Q>%/##=@EL&4]^WLVSS)_-R#@=/TXS$=7O-S%PLG
M#I.E^F\W"Q^3I!L.S8]]63BM4Y8R+3RQ0KL8>=POF &W?N[#Q7-]\\U?MG+P
MG$Y@P61,XHIX=Y32\Q+O\R,R@9%7PRY#61S[&D?N5_O+DV=KS$P$-YO?S,_=
M##\A[IP,!GA6DC'Z8DZK/;1_'>G?N[?(7MSU6R?Q\Z!'=GCW6Q?;+S(B :(8
M]]L>;#\C+;\@,9^0>IJ3ND)<NU#)3<QQ.^,?T8*,!L^]K8OU#_N##M:?$D^'
MM9)%&>L%(& BJ+2(<I 'Z3]@**.<'A>/:2)/L7VC?IN?6]G^D.3+D$C"_'P.
MYT[B<2&,S/YJ?S',.\W2>#CJ=U[SA)GE]/Q6J/KI?K1;U/Q_*$Y#-=UJ7<G0
M?PL66,&7KJK;>C[7['R3SF,V)!W&>7]L*_Q@.1MO 2D;Q/XR7$(6EK.,NT%=
MW7$B^LFR@BW9,>S2R0;<A4Q % &=1WM-V8L&2KVHI*'<J6=I[>=S<#!BC8SQ
MW9?^<GU5F1XKQR[JXOD37V_Q,S+ ]!'#_E]P/MZ0]"=B5R0:"C*>6$EP/A9V
M9AYY+Z2L:C0H(J)]T85?.U2$>FXKLR7;[P!LF[@(?A%7P6L/M:MVT'/=_1<.
MV('1YRWMNKMY3L(=#Y'(<!LC"3_>>-$#<_>AP$J 9^(_7<:-ZPL2 B021UEJ
M]4#A L%H.EB"U5-?KI9&.N@+F^FWN#%XQ,X!;#-434JYP30<L<9Z\MQ11NG&
M3+Q!Q9;1UNEAV_8L&Z%/3C;H,P/<M9>#E-1S8K Y+MU!W:/O2=U$T\1(<I*(
MA9H>>U!W0:1*#*(894]0=T*O7D!(/9NN:45!A.;G-Y$USM4PRG=1)9'D>!"-
MBGVHDDWL[TN5X_[X)529,#O:2I9DZ_6SK829P\F6Y>,GZ7*80W>(AL-\-UT6
MWY,N254A_2NC(S&(T]$89V@/PDR20033ENRC;#=ATLN0HDQJ/3.]9]*FDN8W
M4R:9G =#&F7T8G;+=L(.PDY)SN>T&*3^I4\2]D$JK_1]:3NCK4M?0-O)<!=M
MDSE,HW92]H!X[8C^'3W-<>G\$,4,^?3M5EDVXJPO45D.2B\<LLN3?DC&TW)U
M%TW(]J4G1A>+M?<7HA0HC:JGTQFRU8FP_ZV\?_@IFMSP]Y.F+J.S4OJI?IR[
M@C'8*Z)&7W>>3OEN6P1VI\*%DRM'*XOSE*QS,F:2.",;/!V-2!4:Q:,1.]1&
ML$TA$)-XU ='8:TJ[K-Q*!-0;;R@6P9QDO9)VTW3(N[G.7ZC 8IB0.QZ%$,I
MH\V+AW3>1P4]%&9Z'H_(P!F/$VN:^ ;4,$GIN<1/BJ'XP_(QV8-)!%]8WA\2
M)X[S 7M@/=_?V6X07Q8*-*DD'A1XQX3>/Z4;1PGIYS1V.J Y$3DF"=SN($LX
M&/HQ6.86[IP,:5JP*LF\'8_'4,GI(^** [)S:"DRC$)*!;U#_B29I_2N?6+W
M\.YF]'Q:P;P/E38>T.)F69SFF @LNT&:/*5\^#L]),MK@-6,\V'*&U2D.5G/
M&0<;:$-H[^$&RA+9Z2%MVF TVMSI<0%W9 *K=819I#3 F-Y]0*R?;H@+FGY.
M\QY@I^DU!F3VT$ZG1$4(:'3M=#&&KY.(9]2G':>A$Y(DI+ADHRS.:#>&I-@G
M[)'PS/V]=GI$;]9G]W!"BT=;%(U *O#]$B&3^@8"&/#FTL(/:0=YT[LW>CPD
MXNY'0[+125@7!:UD 3\.;0GM>89)D9".<[:D=^]SGM.KD#F1]&F5![S/!1$-
M C<C6*-D,[)Z/LQI 8JGA+G;YQ1'@F^A-X;S($])2QW$K#71TN79F/W+Q0@[
M 7E-SZ>SG<#]/-[8ZG3 =$=GM*#?X']&C!"T$8%?],EFPIL,:,N'0QH"'AF:
M\7@4I\FH<ZL']*8I/3#-X.RFY:/KQT2,289'Y5$^I.V00XVO^OL?ZC&(+!VS
MVYP.6PX=D:B12)C,-:)5.-N(2OM]WFNZDJ[9JG+E\&5C[48T.Z)KXGQD7Q=$
MS"2DXV2 &VG?B#=@V,$3NYT15^$K4WHP;$W0&6A/G)?,*3$K(H8AFQ0;M4^L
MK?V_][SO&XF9QKJW17A7%GOH^8+OW PBSSP@V7>/;NOT&A\O5.@=>DX3)D#3
MG?HMR5HB-B(_L#$L59^L@E\>ITL2:\LK&N-,6LF9*K0S3HI\*ZC]+.<SR FX
MU7+2*+C;<ZVJF2BK@P)L!G0W4G(5JU^M(]9%._T@$EX3S5(4UV].&@H5U>_G
M%WF&\M':B*"CYB[/%00*G=0<?#PCCI:!"8!GDR0?!SDSKEN> O-U M2S"TK=
ML&>S=?,CNBYQIVS_J>=AETUL^ZU@-3;K>\4JL0YE8HE0&.A(9Q""Q%:&^&R,
MJ&UF2\HEH0EP/RD=I)S$1%J &Q/7RD%^@^@=(Q+R7A&AD+A/HA$):7#_@CA$
MSGV2_58 3^5[(;Y#(HN8!#UP7+"8RDE\3?PS+ZD@Y?R6NTPK2QT0-R%FSV(D
MH<-.(KS]:*YI.EK<''':L=R&YZ7BQ_VMY/)DCLE9XR0=D22'UD)*6#%"=);D
M)IV)24<_1&TM"/9'F@DQ^)Q.ZP&QHG$"=^-E^94#SGV2M#0@"4VH(<CTR$T+
M8;+<6(V#0WO0+R(2(:,41V]$P@_GG<8D;@[W94[K,N2@YCLBF!^[R+/MT3P@
M;HAT@A%[RAR9\A^&4@^C-T@/W:;^8J$.2-CU8201,?3I]_$ XHXT3U)RH [1
M4O4'FRDJS"HR=IFJ=?C6LPXGH75X8OT6W\I)GF6+_E=@-)O'CX0BJ1E$%BG$
M(J(LM%^DS'G'CX0P:60DY.D8CLDJS$D@P^OVO.,'8B1-@33V,51+:*3C/<X>
MZ2ECZ&O]83PL4H[JP/S<Y_PET&(E3MU5?[VK#ASJ40Y)B! G&4X9:>[%8.S#
M?$DE%">TTM'4-)$!V4<IV J_(1PZ]C#+'=/%^FJ%)%4M$X%/F+2+ 9P4I-^1
M871 YS!-W)DFY7)4#"-2W^G7:$#G,AWJD1[!,"-##8953L80Z5UL$])!'!<L
M&(@3CPO$V](BY8/S] &$9LQNZBWCP*K:(JNQUD(WQYR8'_YU<.I5684B71P:
MSSJ\A]]^>F>6Q/]K',X_2FX0ZS#] =FUD/X[$I-^U-EB'W*.:M)O9*/"3PS+
M07CN187D7/'*"62MAK\YA8O8:4H$G;,,?+T5:A1J+HL+,E[1V \6;1*=A;CU
MV.).!&R<]I2$#!U!-K*):Y.6<>(!(B-O5)5NAT59TZ0%L8AXR>VRO(>6G62<
M*9"1]D[C((\&?]#GI#30;_1"S%#HM1*V8I\F\=$@$P+O'(7.VSA[PEFU24P.
M5L A&3Z?J(ZYB]9CFS),GFT)(=V'2,Q36*_TRM%OU=?Z>D%_0'6 N3=@LW9,
M>O\$WIP!DA:R$=O[]-Z ^*7Q02SXE[_MD[5UOK@OYW7)>3I8$81Q$E;1?UZ6
M?]8SY@>PR--1(5XFFNP,JB3N89N<QL$]?9+?BN9;%/P!:77C!.KI=$$:*-TP
M) XR((DRZ ^COY</)5G6$.]DJ2*=Y8/JD7V$:]CL!.^#\4E_]$$2+!$2CLMW
M,B(X'624#]9?ZQ5+?C\%8(L3F27??R6Y_Z%[GN^KL$)6I2'S9"1()%"Y:/WA
M'!AHH_8Y*\1]V'(QHBK(]C#0HZ1"T.]#]BS0823-_UQ*!1X9Z#W0:ZTD#%-$
MD*2'0TJ;W<?.0]]C#\L@&6Z\A@?PTH*D_U+-;J2@A9/\75-5*6%%J<TMT?N?
MRA:0NT?41S\RTDJ0K#.*WG$'R/EF.S*+LF6;D-LBI+]%S?6R?'B@7R7'8M32
MYCO?FK.$Z;FCW$XD9?_2F,_<TPR-Y77[3EJVSL,Q#")PYUH8],U'X68C]@%9
M=?C7.O&?S@Y1^UJS^Y4)Y"-6E?*44Y 'I."DAKRQ&MAUKU;CS>]A"8$AA94D
M'!X,<S5S1ES#D)&2#"OH35A(CM! 3EHO+,\QL=<A_@(',]>QKGT W7K$=E-&
MFG*>\M!%W"_P&Z:X43G2 A?4[?P/),P6\8B$&NFEHWQ 0X]( B 7XDU["%=(
M[8/N>6/]!](?B.$FT%/I?),N>$"CC?&G',H#6L31@-,DV'P_%)>BL3[=ZIE1
MZ>LAL7%21++1D-][,!B;=]R\>DR")XO@1B81< #ND [W,2C'7;?"9NX\&U[@
M&4T^O_E0=+13/5!%Z24GX_L+!K\E63I&MG)*6Y*1\4V\:)3'@B_OE2D?C LZ
M-)(/@\S L60[(1,U XFF\-J2[@!/+33 $4(,^3X\#,X+/CCM(0[(E(*?_JEM
MV&R-4@?!3:ZRUN);^F\!Y&\.-FH)&^I"!0%9VE<J](-I0\N1U>L[[73Z^%]B
M^W8DS)!9G_0E0P&N%&)V!2= @J[]IDAA@\B-MT3I5H'-@#<F12%!3JSKY,F&
MGMJ!E'0QTMJ(3Q0%G>^4R"<%E7B]W?VGPQH6U7R4(G*?LE)^&'WDIHJ>HZ&[
MU:'KT4M6=%YPJ/V(7WA9V3Z@@@L(V%2SNT'V'D)_8"P' YKP&(P8A2IDSU^Z
MIKI[$RCSE'$0"G%UH"<N% *>]\V\YGM7N^Z4K5P*B_\\;[^K6_UCL?S$!CT0
MV=3?SQ8_I_<_X>,NLI2#L*3))"F<VV/BW07'>Q.BX8R^&A))HZ(*D7 R:T9<
M9&*IS^_*>0"A)>*4Y-50JA'I(Y94(Y7<['UAR=L'T5@W^D[/.>3Y8!SGL!I)
M2T4$,M' [% 2IQ''REQ^*6+.K.B-^%06S&]SY.2G$C9%))HF]EK+\)'2>LPN
M=NU7=<!B%=I P@;L0<$N(=8]DM0X7@>%>=L"EU\J, Q&(V4\P!F#DE^0D94B
M1$H*!O*5\S'=#'I.I2 3RXM5RI$6W-J_MA.X&(_9\H2S8$A*!U*CZ:,";K_^
MB%W2PS[7Q7%..>D1HV'HR9M<7Z_O0\[4321PBXW))APBY,IAN0P575I(5"#^
M3#I3OITN<ETP,F**3*@B9_U%G&!P?V,!@MGI\:<U0=YP3KL.7US:)VM(GIN3
M2I?1%NY>=-+L4MDC?1P]$/;OX8ZMESDBL"L>]@$'?'2V6<)^_L.NY6OO$8X4
M:!;:$'PK@RA+70RH@ >%C]QDU7'JAW0.AT4"!P-*&9$I,9001KB]+OMB9Z+#
M7\E$$*6%-Q1>CYQ5TZSH\S(E0ZC38VC_2-Z'@XO>&0GO6XEE$ _-<8#?NI =
MR <C.7/I<,P,)&5VDF1PY(*EN)./4S9$+)N>-8B0CH,,.J(<7(CCAG2+[;N?
MIA))27!J1-]R#Q6;8R#!EFS 1OE3YYX(:8BLM?XP1AH8"G&@&V>@).8M&1=P
MIG#?C9\Z]2_AUR\\]?V$!Z+M0I8146)&VDT^'"OQ]K&26;%+&F0C89WP@/&*
MH5#2GB0$%H?9]G,/QIO30Y"QD,+AE>FYAR!XZMQ#)&2DU12)>1SB!+M.O;!Y
M+I/B;1X1F::61XW9#[;?J=^377:<>MH]N-J&"!#"(A@.P0?B?G]C>UTJ3G=%
M0Y^-*QO@F2C@T?[*#U0],@MG+NSC6>F;H2-P%N!),\+4=]9__)*,=_6U@O:^
M-4\[-O#ZSV1;Q-V)U:11/D0B6L*^V0%G%2%\,T)B%&^#)'[M(',)"Q\4+"Q$
MB>;8CC@ ]M5PX++@VB<ZXB/:]Q&.'W%0LMUSDAB.OQ';R4<%^WM!4!E"6N.G
MQ&#.T2LG O5/=QP.$#9(13@/,GMJ2$"-<3!VLZ5A/Y>Z$J+)@K@D7/T%\<^"
MG=\DG0:08QE)>B07!8'(O?G1 "H;J4=9D?&"%&,8#7A6'PK8"/Y3Y.O!D[UC
MLPK-P1<[6/\,9F0,#QJ47J#@='^$6&B1X5,*M,8#Y$+RON=)9M9L0(<]VX]7
M#&CWD 6 E\*&>B\U$-N?/A\B_RO9HB4 8")#='+,V9I9VF>Q-TH9#P0B@I,7
M=RL'?]4)@XJ"G&T$-R&#154ILO"$(7%NM$.0#(T.GH@\(8&>B<$)V9RSNN8=
M#]@$M():K$=_COM/:HETI,:9HPOSIW\\AD9QM4(!!V7TY-EX'IMYV=G("R3A
MD79#HA9A.4-&R#=$&(].33P@1E*D.Q@9[<(@\== _NPZ&WF?:S#A0F)!RXH
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M4CV@<>#=3+:59^SD ",NUP8+&+(9=A@@6ANLDQWK7#_9U$2:,D*O_0Z+?08
M([AQ-B@#;Q:]7@O<))CTM'QLHG^[7?UD_^ATWKU=E^CA7<'%AU+"%!6Z X2%
M 9D)3)*$_\#PM^Y:0."3I"9I/,[%VH$Z-AYR76M"YH$WKA3LM&YW^Y? AX#T
MK5$NX<J"H_TGID<X=[?BC.9^KS^.?L"/G'^D\F, '\4>U;GL=$.^EWBL<TZ@
M.,@X\?+]XIX]8:2VED^.1%:]! TX3"MYT#0<0RA+V8,X=WQ:0G7V<"3L U%>
MI+/1=+[WAHZ"#1TA>Z//H$H%)XF16,NC(='_QG8.4.4\0$R?AF?4EA3Q=9*&
M0'\:C9[<4',,$P8?0))'.I;D@&+(V0+=&UKX&YK(7WFVYX9F8TGPENS?@:30
M9KP?S]K0H=19ZH;FDIF';!,&,/ WU.$>Y^A9 %4+M=L)NWN*T99RZD0PC12O
MG'\Y\?#*';B*[RC?RN4-OYD&['YK]V9/D?.=XW\)I]\Z!_F&GE?./S4,<0V<
MJU'"K1O>U73E%-Y@T2"]3AN*U\Y]<"+N*9K\9"J,O88;PS%CIZ'$8<SEKJ9]
MAX&"W\2[/K)24&#<3[^]"X=!<>]&YCX-^U\8$'73+,2 SW?-U'</[1Y<&CMP
M/4_J6<W@40+FK>TD#,AX-[DB(NX!6W^SON&U#_\KR"Y8'B(P_WEYG^T/U'<0
MP0E^ 9SJ3;/665^M@-P@^?A2),)FZ)BXGG.VM8<M0+J#$=G-(X:QXN]A#TV7
MY0TH$KK-,,]M3> L"$C6[*?*=TQ(Z[+H7WY4D4: ;ABEQO'K;<]WZ_H#=84^
M$'P"=+/[EFU+Q,]'#!<"#+B6YOAFC.^2,\C$(/KP&:!2^E:=*HJ<B/;BHR"]
MX#H/,D<'%CS=+(:,]\R;;-13FJ"9V">"*EQ0S*7Q@'A-! P(+O[,/*L8DY:?
M<VL6I$'0 Q"%U0=DN4C_[[0H(Z_N5R@K:,"3YYN+!O(IP&=H%1+ZMT"VF."T
M<2"'JVJRS74S9+?U/B&Z'4LW8F<$7.T#8>V ;)3UDPP^>>8@D098 W8^#C@_
M,C5XB(@T20>6EP>5ZMLYYSG,OY$AG;JT*B0 7+Q&FL35>MD(X"["AGH\D=2(
MMF0?EC59 ?2.@CWZ8;U"YWHN6WO#G]M3)YE8G"O%+$5]OT#&[ ,($%^;%"G_
M@KY\_^+%^<) .M#M@#ARV^J,W7PS-W#,>H/ LAY]BE@CR?F-OGTO$3%H3&:R
MAR G7]@(;K<#@<8^#9?(O2)(0I0*\(*"H<:*X?]7WM?WMFXC>W\5 =ON.A>.
MZ]?8O@4>0'%\3MV3V('MG.[9Q?U#L95$K6/Y^N6<IM@/_\P,7T2)I$S)3G>!
M"^RVJ24.*7(X',[+;YK>S)^*W]DEZ=(;/HB?\&*+V?X8>8B_RJIO#<JZQ$PE
ML5-4ET3FJ$M.KM.&G_3>K=8QUA-]55WERQ"VIHNWPQ;F"V6&C/"UL)K)QS$/
M 7E/O;N_C_FO;51&KE!O:A"(IS^=\2>@2+=982Z<,TF7?&\X;<E,(H8J%6+C
MNDXR\"NO)S4@]NZEUQ("SC!]V7,VGQ65AN\6J8=^+#%0H8CD1ICPI9>:@BW
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M:9G,N]F$=XV6T7C7-EH[06 772,."G0>=2=XV\:KE;&.+Z]MD>>#<]!FFIE
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M@ZI]T'Q]T&P?U*X/:O9!_?J@;A^D!#(F_R3"VJ^U@&OYO1: +;_8 K+E-UN
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M4Y1S*J#G% 6="B@Z14FG II.4=2I@*I3E'4JH.L4A9T**#M%::<"VDY1W*F
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M<1T?UV/33_\:Y><\WSR='QT.=)>_ 5!+ 0(4 Q0    (  )>GE ?(\\#P
M !,"   +              "  0    !?<F5L<R\N<F5L<U!+ 0(4 Q0    (
M  )>GE GZ(<.@@   +$    0              "  >D   !D;V-0<F]P<R]A
M<' N>&UL4$L! A0#%     @  EZ>4$"TK<#N    *P(  !$
M ( !F0$  &1O8U!R;W!S+V-O<F4N>&UL4$L! A0#%     @  EZ>4)E<G",0
M!@  G"<  !,              ( !M@(  'AL+W1H96UE+W1H96UE,2YX;6Q0
M2P$"% ,4    "  "7IY0K%E/VL4"  "X"P  &               @ 'W"
M>&PO=V]R:W-H965T<R]S:&5E=#$N>&UL4$L! A0#%     @  EZ>4.-<CCDI
M!0   !D  !@              ( !\@L  'AL+W=O<FMS:&5E=',O<VAE970R
M+GAM;%!+ 0(4 Q0    (  )>GE"J6&@-3P0  , 3   8              "
M 5$1  !X;"]W;W)K<VAE971S+W-H965T,RYX;6Q02P$"% ,4    "  "7IY0
MT#'M#?L$  !L&   &               @ '6%0  >&PO=V]R:W-H965T<R]S
M:&5E=#0N>&UL4$L! A0#%     @  EZ>4/HJT"KC"@  1TP  !@
M     ( !!QL  'AL+W=O<FMS:&5E=',O<VAE970U+GAM;%!+ 0(4 Q0    (
M  )>GE P;%H.]0$  ,8%   8              "  2 F  !X;"]W;W)K<VAE
M971S+W-H965T-BYX;6Q02P$"% ,4    "  "7IY0L]IL$P\&   F'P  &
M            @ %+*   >&PO=V]R:W-H965T<R]S:&5E=#<N>&UL4$L! A0#
M%     @  EZ>4%J*DX2X 0  T@,  !@              ( !D"X  'AL+W=O
M<FMS:&5E=',O<VAE970X+GAM;%!+ 0(4 Q0    (  )>GE %?L'!N $  -(#
M   8              "  7XP  !X;"]W;W)K<VAE971S+W-H965T.2YX;6Q0
M2P$"% ,4    "  "7IY07$ PG;<!  #2 P  &0              @ %L,@
M>&PO=V]R:W-H965T<R]S:&5E=#$P+GAM;%!+ 0(4 Q0    (  )>GE"95G3M
MMP$  -(#   9              "  5HT  !X;"]W;W)K<VAE971S+W-H965T
M,3$N>&UL4$L! A0#%     @  EZ>4'>0WK&W 0  T@,  !D
M ( !2#8  'AL+W=O<FMS:&5E=',O<VAE970Q,BYX;6Q02P$"% ,4    "  "
M7IY0X]$)_K8!  #2 P  &0              @ $V.   >&PO=V]R:W-H965T
M<R]S:&5E=#$S+GAM;%!+ 0(4 Q0    (  )>GE#KV>>0LP$  -(#   9
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M970Q."YX;6Q02P$"% ,4    "  "7IY09*XP!K@!  #2 P  &0
M    @ '%0P  >&PO=V]R:W-H965T<R]S:&5E=#$Y+GAM;%!+ 0(4 Q0    (
M  )>GE ]TB52M@$  -(#   9              "  ;1%  !X;"]W;W)K<VAE
M971S+W-H965T,C N>&UL4$L! A0#%     @  EZ>4(+^"L^X 0  T@,  !D
M             ( !H4<  'AL+W=O<FMS:&5E=',O<VAE970R,2YX;6Q02P$"
M% ,4    "  "7IY0]VJK);@!  #2 P  &0              @ &020  >&PO
M=V]R:W-H965T<R]S:&5E=#(R+GAM;%!+ 0(4 Q0    (  )>GE#ZF:0)MP$
M -(#   9              "  7]+  !X;"]W;W)K<VAE971S+W-H965T,C,N
M>&UL4$L! A0#%     @  EZ>4.),NK.X 0  T@,  !D              ( !
M;4T  'AL+W=O<FMS:&5E=',O<VAE970R-"YX;6Q02P$"% ,4    "  "7IY0
MA_XQ]K<!  #2 P  &0              @ %<3P  >&PO=V]R:W-H965T<R]S
M:&5E=#(U+GAM;%!+ 0(4 Q0    (  )>GE!/\A)2N $  -(#   9
M      "  4I1  !X;"]W;W)K<VAE971S+W-H965T,C8N>&UL4$L! A0#%
M  @  EZ>4'<=*>JX 0  T@,  !D              ( !.5,  'AL+W=O<FMS
M:&5E=',O<VAE970R-RYX;6Q02P$"% ,4    "  "7IY0G,R$([@!  #2 P
M&0              @ $H50  >&PO=V]R:W-H965T<R]S:&5E=#(X+GAM;%!+
M 0(4 Q0    (  )>GE![4A<@N $  -(#   9              "  1=7  !X
M;"]W;W)K<VAE971S+W-H965T,CDN>&UL4$L! A0#%     @  EZ>4"I"*QBV
M 0  T@,  !D              ( !!ED  'AL+W=O<FMS:&5E=',O<VAE970S
M,"YX;6Q02P$"% ,4    "  "7IY0^=_=BK@!  #2 P  &0
M@ 'S6@  >&PO=V]R:W-H965T<R]S:&5E=#,Q+GAM;%!+ 0(4 Q0    (  )>
MGE"!TG ZN $  -(#   9              "  >)<  !X;"]W;W)K<VAE971S
M+W-H965T,S(N>&UL4$L! A0#%     @  EZ>4.@<0<RW 0  T@,  !D
M         ( !T5X  'AL+W=O<FMS:&5E=',O<VAE970S,RYX;6Q02P$"% ,4
M    "  "7IY0#P1 J[<!  #2 P  &0              @ &_8   >&PO=V]R
M:W-H965T<R]S:&5E=#,T+GAM;%!+ 0(4 Q0    (  )>GE#5JN^2LP$  -(#
M   9              "  :UB  !X;"]W;W)K<VAE971S+W-H965T,S4N>&UL
M4$L! A0#%     @  EZ>4$2M7B&X 0  T@,  !D              ( !EV0
M 'AL+W=O<FMS:&5E=',O<VAE970S-BYX;6Q02P$"% ,4    "  "7IY0WC)Y
ML+@!  #2 P  &0              @ &&9@  >&PO=V]R:W-H965T<R]S:&5E
M=#,W+GAM;%!+ 0(4 Q0    (  )>GE G_P"IN $  -(#   9
M  "  75H  !X;"]W;W)K<VAE971S+W-H965T,S@N>&UL4$L! A0#%     @
M EZ>4.F[!;RV 0  T@,  !D              ( !9&H  'AL+W=O<FMS:&5E
M=',O<VAE970S.2YX;6Q02P$"% ,4    "  "7IY0)I&;A;8!  #2 P  &0
M            @ %1;   >&PO=V]R:W-H965T<R]S:&5E=#0P+GAM;%!+ 0(4
M Q0    (  )>GE"[I=GDN $  -(#   9              "  3YN  !X;"]W
M;W)K<VAE971S+W-H965T-#$N>&UL4$L! A0#%     @  EZ>4(F6II6X 0
MT@,  !D              ( !+7   'AL+W=O<FMS:&5E=',O<VAE970T,BYX
M;6Q02P$"% ,4    "  "7IY0_E_"5+<!  #2 P  &0              @ $<
M<@  >&PO=V]R:W-H965T<R]S:&5E=#0S+GAM;%!+ 0(4 Q0    (  )>GE"9
M!W8]MP$  -(#   9              "  0IT  !X;"]W;W)K<VAE971S+W-H
M965T-#0N>&UL4$L! A0#%     @  EZ>4#-\6XFW 0  T@,  !D
M     ( !^'4  'AL+W=O<FMS:&5E=',O<VAE970T-2YX;6Q02P$"% ,4
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M+GAM;%!+ 0(4 Q0    (  )>GE#X,KS/X@$  !T%   9              "
M >&   !X;"]W;W)K<VAE971S+W-H965T-3 N>&UL4$L! A0#%     @  EZ>
M4 "1BPJX 0  T@,  !D              ( !^H(  'AL+W=O<FMS:&5E=',O
M<VAE970U,2YX;6Q02P$"% ,4    "  "7IY0N-UI1K0!  #2 P  &0
M        @ 'IA   >&PO=V]R:W-H965T<R]S:&5E=#4R+GAM;%!+ 0(4 Q0
M   (  )>GE#JF34(Q0$  #<$   9              "  =2&  !X;"]W;W)K
M<VAE971S+W-H965T-3,N>&UL4$L! A0#%     @  EZ>4'K5>O.R 0  T@,
M !D              ( !T(@  'AL+W=O<FMS:&5E=',O<VAE970U-"YX;6Q0
M2P$"% ,4    "  "7IY0;4YD_+<!  #2 P  &0              @ &YB@
M>&PO=V]R:W-H965T<R]S:&5E=#4U+GAM;%!+ 0(4 Q0    (  )>GE#&Q6?4
MPP$  #<$   9              "  :>,  !X;"]W;W)K<VAE971S+W-H965T
M-38N>&UL4$L! A0#%     @  EZ>4"Z$$FFS 0  T@,  !D
M ( !H8X  'AL+W=O<FMS:&5E=',O<VAE970U-RYX;6Q02P$"% ,4    "  "
M7IY0W]BP8\(!   W!   &0              @ &+D   >&PO=V]R:W-H965T
M<R]S:&5E=#4X+GAM;%!+ 0(4 Q0    (  )>GE#3KRD)Q0$  #<$   9
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M970V,RYX;6Q02P$"% ,4    "  "7IY0*_U8ML4!   W!   &0
M    @ %/G   >&PO=V]R:W-H965T<R]S:&5E=#8T+GAM;%!+ 0(4 Q0    (
M  )>GE GI'Y9PP$  #<$   9              "  4N>  !X;"]W;W)K<VAE
M971S+W-H965T-C4N>&UL4$L! A0#%     @  EZ>4 3"M[:S 0  T@,  !D
M             ( !1:   'AL+W=O<FMS:&5E=',O<VAE970V-BYX;6Q02P$"
M% ,4    "  "7IY02$H =_8!  #+!0  &0              @ $OH@  >&PO
M=V]R:W-H965T<R]S:&5E=#8W+GAM;%!+ 0(4 Q0    (  )>GE#@S%8:T0$
M )P$   9              "  5RD  !X;"]W;W)K<VAE971S+W-H965T-C@N
M>&UL4$L! A0#%     @  EZ>4.Z7$L+M 0  9@4  !D              ( !
M9*8  'AL+W=O<FMS:&5E=',O<VAE970V.2YX;6Q02P$"% ,4    "  "7IY0
M>.EF;<,!   W!   &0              @ &(J   >&PO=V]R:W-H965T<R]S
M:&5E=#<P+GAM;%!+ 0(4 Q0    (  )>GE 3-XC1P@$  #<$   9
M      "  8*J  !X;"]W;W)K<VAE971S+W-H965T-S$N>&UL4$L! A0#%
M  @  EZ>4+ M:P#0 0  G 0  !D              ( !>ZP  'AL+W=O<FMS
M:&5E=',O<VAE970W,BYX;6Q02P$"% ,4    "  "7IY0(G4=U,(!   3!
M&0              @ &"K@  >&PO=V]R:W-H965T<R]S:&5E=#<S+GAM;%!+
M 0(4 Q0    (  )>GE#8X9,2MP$  -(#   9              "  7NP  !X
M;"]W;W)K<VAE971S+W-H965T-S0N>&UL4$L! A0#%     @  EZ>4-3,'=C2
M 0  G 0  !D              ( !:;(  'AL+W=O<FMS:&5E=',O<VAE970W
M-2YX;6Q02P$"% ,4    "  "7IY0;\F6?[<!  #2 P  &0
M@ %RM   >&PO=V]R:W-H965T<R]S:&5E=#<V+GAM;%!+ 0(4 Q0    (  )>
MGE"GQ;7;MP$  -(#   9              "  6"V  !X;"]W;W)K<VAE971S
M+W-H965T-S<N>&UL4$L! A0#%     @  EZ>4%C-Y?:W 0  T@,  !D
M         ( !3K@  'AL+W=O<FMS:&5E=',O<VAE970W."YX;6Q02P$"% ,4
M    "  "7IY0?)L!?<,!   3!   &0              @ $\N@  >&PO=V]R
M:W-H965T<R]S:&5E=#<Y+GAM;%!+ 0(4 Q0    (  )>GE (II+['0@  $HV
M   9              "  3:\  !X;"]W;W)K<VAE971S+W-H965T.# N>&UL
M4$L! A0#%     @  EZ>4#)+=-M, @  K @  !D              ( !BL0
M 'AL+W=O<FMS:&5E=',O<VAE970X,2YX;6Q02P$"% ,4    "  "7IY0EJ)Y
MD-L!  !I!0  &0              @ $-QP  >&PO=V]R:W-H965T<R]S:&5E
M=#@R+GAM;%!+ 0(4 Q0    (  )>GE"<L @ $ 4  *T;   9
M  "  1_)  !X;"]W;W)K<VAE971S+W-H965T.#,N>&UL4$L! A0#%     @
M EZ>4(ACFHT/ @  / 8  !D              ( !9LX  'AL+W=O<FMS:&5E
M=',O<VAE970X-"YX;6Q02P$"% ,4    "  "7IY0OAB'7)P"   ;"0  &0
M            @ &LT   >&PO=V]R:W-H965T<R]S:&5E=#@U+GAM;%!+ 0(4
M Q0    (  )>GE#)*X+H.A0  %NB   9              "  7_3  !X;"]W
M;W)K<VAE971S+W-H965T.#8N>&UL4$L! A0#%     @  EZ>4"U$3:AO @
MN@<  !D              ( !\.<  'AL+W=O<FMS:&5E=',O<VAE970X-RYX
M;6Q02P$"% ,4    "  "7IY0RREJ1-,"   Q"P  &0              @ &6
MZ@  >&PO=V]R:W-H965T<R]S:&5E=#@X+GAM;%!+ 0(4 Q0    (  )>GE =
M)%4[<0<  +8R   9              "  :#M  !X;"]W;W)K<VAE971S+W-H
M965T.#DN>&UL4$L! A0#%     @  EZ>4'DB?&?:!P  [2P  !D
M     ( !2/4  'AL+W=O<FMS:&5E=',O<VAE970Y,"YX;6Q02P$"% ,4
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M+GAM;%!+ 0(4 Q0    (  )>GE"4 B^VC0,  +,1   9              "
M ?\* 0!X;"]W;W)K<VAE971S+W-H965T.34N>&UL4$L! A0#%     @  EZ>
M4(FX0] . P  % P  !D              ( !PPX! 'AL+W=O<FMS:&5E=',O
M<VAE970Y-BYX;6Q02P$"% ,4    "  "7IY0)M<H9!H"  #L!0  &0
M        @ $($@$ >&PO=V]R:W-H965T<R]S:&5E=#DW+GAM;%!+ 0(4 Q0
M   (  )>GE :_2;#?P,  $8.   9              "  5D4 0!X;"]W;W)K
M<VAE971S+W-H965T.3@N>&UL4$L! A0#%     @  EZ>4+,[7AX^ @  #0<
M !D              ( !#Q@! 'AL+W=O<FMS:&5E=',O<VAE970Y.2YX;6Q0
M2P$"% ,4    "  "7IY0H.1PCV\"  "U!P  &@              @ &$&@$
M>&PO=V]R:W-H965T<R]S:&5E=#$P,"YX;6Q02P$"% ,4    "  "7IY0 L-L
M+K("   7"0  &@              @ $K'0$ >&PO=V]R:W-H965T<R]S:&5E
M=#$P,2YX;6Q02P$"% ,4    "  "7IY0UQ6M4L,"  "Z"P  &@
M    @ $5( $ >&PO=V]R:W-H965T<R]S:&5E=#$P,BYX;6Q02P$"% ,4
M"  "7IY0-#9VB+(!  #4 P  &@              @ $0(P$ >&PO=V]R:W-H
M965T<R]S:&5E=#$P,RYX;6Q02P$"% ,4    "  "7IY0=P3?:^D)   70
M&@              @ 'Z) $ >&PO=V]R:W-H965T<R]S:&5E=#$P-"YX;6Q0
M2P$"% ,4    "  "7IY0[E_8]QX"   +!P  &@              @ $;+P$
M>&PO=V]R:W-H965T<R]S:&5E=#$P-2YX;6Q02P$"% ,4    "  "7IY0I7NY
M?UL(   E-0  &@              @ %Q,0$ >&PO=V]R:W-H965T<R]S:&5E
M=#$P-BYX;6Q02P$"% ,4    "  "7IY0<S!S_($%  #))P  &@
M    @ $$.@$ >&PO=V]R:W-H965T<R]S:&5E=#$P-RYX;6Q02P$"% ,4
M"  "7IY01 A"0&H"  "6"   &@              @ &]/P$ >&PO=V]R:W-H
M965T<R]S:&5E=#$P."YX;6Q02P$"% ,4    "  "7IY0W"IG\$4%  !Z'0
M&@              @ %?0@$ >&PO=V]R:W-H965T<R]S:&5E=#$P.2YX;6Q0
M2P$"% ,4    "  "7IY07*+KH3D"  "S!@  &@              @ '<1P$
M>&PO=V]R:W-H965T<R]S:&5E=#$Q,"YX;6Q02P$"% ,4    "  "7IY01Z :
MJ(,$  "R&   &@              @ %-2@$ >&PO=V]R:W-H965T<R]S:&5E
M=#$Q,2YX;6Q02P$"% ,4    "  "7IY0J)]K6>X"  "@"@  &@
M    @ $(3P$ >&PO=V]R:W-H965T<R]S:&5E=#$Q,BYX;6Q02P$"% ,4
M"  "7IY08Y@!+BX#  "'#0  &@              @ $N4@$ >&PO=V]R:W-H
M965T<R]S:&5E=#$Q,RYX;6Q02P$"% ,4    "  "7IY0I]<SF4(%  "!&
M&@              @ &450$ >&PO=V]R:W-H965T<R]S:&5E=#$Q-"YX;6Q0
M2P$"% ,4    "  "7IY0>@[<&6\"  !%"   &@              @ $.6P$
M>&PO=V]R:W-H965T<R]S:&5E=#$Q-2YX;6Q02P$"% ,4    "  "7IY0@"XZ
M2*\"  !."0  &@              @ &U70$ >&PO=V]R:W-H965T<R]S:&5E
M=#$Q-BYX;6Q02P$"% ,4    "  "7IY0R=(!'(P"  #>"   &@
M    @ &<8 $ >&PO=V]R:W-H965T<R]S:&5E=#$Q-RYX;6Q02P$"% ,4
M"  "7IY0-4YYO><!  #U!   &@              @ %@8P$ >&PO=V]R:W-H
M965T<R]S:&5E=#$Q."YX;6Q02P$"% ,4    "  "7IY0*/T[C0,"  ""!0
M&@              @ %_90$ >&PO=V]R:W-H965T<R]S:&5E=#$Q.2YX;6Q0
M2P$"% ,4    "  "7IY0"$/B?3H"  "6!@  &@              @ &Z9P$
M>&PO=V]R:W-H965T<R]S:&5E=#$R,"YX;6Q02P$"% ,4    "  "7IY0W:\U
MN5D$   ]%0  &@              @ $L:@$ >&PO=V]R:W-H965T<R]S:&5E
M=#$R,2YX;6Q02P$"% ,4    "  "7IY0;N/OAN,"  !0"P  &@
M    @ &];@$ >&PO=V]R:W-H965T<R]S:&5E=#$R,BYX;6Q02P$"% ,4
M"  "7IY0A@CVB9X"  #9"0  &@              @ '8<0$ >&PO=V]R:W-H
M965T<R]S:&5E=#$R,RYX;6Q02P$"% ,4    "  "7IY07DZC%XL%  !C(@
M&@              @ &N= $ >&PO=V]R:W-H965T<R]S:&5E=#$R-"YX;6Q0
M2P$"% ,4    "  "7IY0T-RJY?8!  "J!0  &@              @ %Q>@$
M>&PO=V]R:W-H965T<R]S:&5E=#$R-2YX;6Q02P$"% ,4    "  "7IY05\1-
M<[4!   6!   &@              @ &?? $ >&PO=V]R:W-H965T<R]S:&5E
M=#$R-BYX;6Q02P$"% ,4    "  "7IY0_4T(Y($#  !B$0  &@
M    @ &,?@$ >&PO=V]R:W-H965T<R]S:&5E=#$R-RYX;6Q02P$"% ,4
M"  "7IY0-FIN@;L"   )"@  &@              @ %%@@$ >&PO=V]R:W-H
M965T<R]S:&5E=#$R."YX;6Q02P$"% ,4    "  "7IY0+GHVAA0"  "W!@
M&@              @ $XA0$ >&PO=V]R:W-H965T<R]S:&5E=#$R.2YX;6Q0
M2P$"% ,4    "  #7IY0C"Q%4\0'   L+P  &@              @ &$AP$
M>&PO=V]R:W-H965T<R]S:&5E=#$S,"YX;6Q02P$"% ,4    "  #7IY0+U7Y
M%Q,"   .!@  &@              @ & CP$ >&PO=V]R:W-H965T<R]S:&5E
M=#$S,2YX;6Q02P$"% ,4    "  #7IY0@&D(5N("  !J"@  &@
M    @ '+D0$ >&PO=V]R:W-H965T<R]S:&5E=#$S,BYX;6Q02P$"% ,4
M"  #7IY0Q2%,9% #   E#P  &@              @ 'EE $ >&PO=V]R:W-H
M965T<R]S:&5E=#$S,RYX;6Q02P$"% ,4    "  #7IY08ES&O@0"  "$!0
M&@              @ %MF $ >&PO=V]R:W-H965T<R]S:&5E=#$S-"YX;6Q0
M2P$"% ,4    "  #7IY0?J;CAI@$   (%@  &@              @ &IF@$
M>&PO=V]R:W-H965T<R]S:&5E=#$S-2YX;6Q02P$"% ,4    "  #7IY0K#HI
MT6 "  !^"0  &@              @ %YGP$ >&PO=V]R:W-H965T<R]S:&5E
M=#$S-BYX;6Q02P$"% ,4    "  #7IY0TR1VY%P#  !3#@  &@
M    @ $1H@$ >&PO=V]R:W-H965T<R]S:&5E=#$S-RYX;6Q02P$"% ,4
M"  #7IY0W2=KZ>L!  #V!   &@              @ &EI0$ >&PO=V]R:W-H
M965T<R]S:&5E=#$S."YX;6Q02P$"% ,4    "  #7IY0O8(\K1D"  #[!0
M&@              @ '(IP$ >&PO=V]R:W-H965T<R]S:&5E=#$S.2YX;6Q0
M2P$"% ,4    "  #7IY0_)ZYJ5H"   J!P  &@              @ $9J@$
M>&PO=V]R:W-H965T<R]S:&5E=#$T,"YX;6Q02P$"% ,4    "  #7IY0QS"\
M/)D#  #6$   &@              @ &KK $ >&PO=V]R:W-H965T<R]S:&5E
M=#$T,2YX;6Q02P$"% ,4    "  #7IY0:0DGW;(#  ![$   &@
M    @ %\L $ >&PO=V]R:W-H965T<R]S:&5E=#$T,BYX;6Q02P$"% ,4
M"  #7IY0!*SG:[$!  #0 P  &@              @ %FM $ >&PO=V]R:W-H
M965T<R]S:&5E=#$T,RYX;6Q02P$"% ,4    "  #7IY0<:!KGJ<"  !["0
M&@              @ %/M@$ >&PO=V]R:W-H965T<R]S:&5E=#$T-"YX;6Q0
M2P$"% ,4    "  #7IY0Z$NA%C8$  !E&   &@              @ $NN0$
M>&PO=V]R:W-H965T<R]S:&5E=#$T-2YX;6Q02P$"% ,4    "  #7IY0$6(Q
MC(8"   N"0  &@              @ &<O0$ >&PO=V]R:W-H965T<R]S:&5E
M=#$T-BYX;6Q02P$"% ,4    "  #7IY0\;(S>/0%  #R)   &@
M    @ %:P $ >&PO=V]R:W-H965T<R]S:&5E=#$T-RYX;6Q02P$"% ,4
M"  #7IY0;=:5L ("  #0!0  &@              @ &&Q@$ >&PO=V]R:W-H
M965T<R]S:&5E=#$T."YX;6Q02P$"% ,4    "  #7IY0'5<O=9<"   )"0
M&@              @ ' R $ >&PO=V]R:W-H965T<R]S:&5E=#$T.2YX;6Q0
M2P$"% ,4    "  #7IY0=\K:-VX"  "S"   &@              @ &/RP$
M>&PO=V]R:W-H965T<R]S:&5E=#$U,"YX;6Q02P$"% ,4    "  #7IY0IJ!:
M!B,$  "!$0  &@              @ $US@$ >&PO=V]R:W-H965T<R]S:&5E
M=#$U,2YX;6Q02P$"% ,4    "  #7IY0]<.1#?L!  "L!0  &@
M    @ &0T@$ >&PO=V]R:W-H965T<R]S:&5E=#$U,BYX;6Q02P$"% ,4
M"  #7IY0GS]3&_L!  "5!0  &@              @ '#U $ >&PO=V]R:W-H
M965T<R]S:&5E=#$U,RYX;6Q02P$"% ,4    "  #7IY05>6FK! "  #F!0
M&@              @ 'VU@$ >&PO=V]R:W-H965T<R]S:&5E=#$U-"YX;6Q0
M2P$"% ,4    "  #7IY0&< LU<X#  !6$   &@              @ $^V0$
M>&PO=V]R:W-H965T<R]S:&5E=#$U-2YX;6Q02P$"% ,4    "  #7IY0EQ^2
M3)\"  !9"0  &@              @ %$W0$ >&PO=V]R:W-H965T<R]S:&5E
M=#$U-BYX;6Q02P$"% ,4    "  #7IY0S2U2'\T#  !=$   &@
M    @ $;X $ >&PO=V]R:W-H965T<R]S:&5E=#$U-RYX;6Q02P$"% ,4
M"  #7IY0HPWZ45D"  "-!P  &@              @ $@Y $ >&PO=V]R:W-H
M965T<R]S:&5E=#$U."YX;6Q02P$"% ,4    "  #7IY01IRD6T\"  "^"
M&@              @ &QY@$ >&PO=V]R:W-H965T<R]S:&5E=#$U.2YX;6Q0
M2P$"% ,4    "  #7IY0V*%T(<T%  !_*0  &@              @ $XZ0$
M>&PO=V]R:W-H965T<R]S:&5E=#$V,"YX;6Q02P$"% ,4    "  #7IY032C>
M/9H"   W"@  &@              @ $][P$ >&PO=V]R:W-H965T<R]S:&5E
M=#$V,2YX;6Q02P$"% ,4    "  #7IY0IV=1W,L!  "0!   &@
M    @ $/\@$ >&PO=V]R:W-H965T<R]S:&5E=#$V,BYX;6Q02P$"% ,4
M"  #7IY0N^HZS2 #  #5#0  &@              @ $2] $ >&PO=V]R:W-H
M965T<R]S:&5E=#$V,RYX;6Q02P$"% ,4    "  #7IY0D9:7HRT"  #T!@
M&@              @ %J]P$ >&PO=V]R:W-H965T<R]S:&5E=#$V-"YX;6Q0
M2P$"% ,4    "  #7IY0X*A1GI8G 0 4B00 %               @ '/^0$
M>&PO<VAA<F5D4W1R:6YG<RYX;6Q02P$"% ,4    "  #7IY0.1EW&W4"  #]
M#0  #0              @ &7(0, >&PO<W1Y;&5S+GAM;%!+ 0(4 Q0    (
M  ->GE"?>53B5PH  +-L   /              "  3<D P!X;"]W;W)K8F]O
M:RYX;6Q02P$"% ,4    "  #7IY08W8&3' $  "68   &@
M@ &[+@, >&PO7W)E;',O=V]R:V)O;VLN>&UL+G)E;'-02P$"% ,4    "  #
M7IY0F"^CB"H#  #+6P  $P              @ %C,P, 6T-O;G1E;G1?5'EP
=97-=+GAM;%!+!08     K0"M .XO  "^-@,    !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>103
<FILENAME>R99.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6794354576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Income Tax (Details Textual) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss', window );">After tax effect of expense not deductible in determining profit (loss)</a></td>
<td class="nump">$ 66<span></span>
</td>
<td class="nump">$ 65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations', window );">Charge related to withholding taxes for intra group international operations</a></td>
<td class="nump">$ 34<span></span>
</td>
<td class="nump">$ 26<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_AR', window );">ARGENTINA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes', window );">Deferred tax expense (income) relating to tax rate changes or imposition of new taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (46)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">UNITED STATES</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes', window );">Deferred tax expense (income) relating to tax rate changes or imposition of new taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (15)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax expense or income relating to tax rate changes or the imposition of new taxes. [Refer: Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 80<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_80_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount represents the difference between the after tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to expenses not deductible in determining profit (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_AfterTaxEffectOfExpenseNotDeductibleInDeterminingProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of charge related to withholding taxes for intra group international operations during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ChargeRelatedToWithholdingTaxesForIntraGroupInternationalOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_AR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_AR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>104
<FILENAME>R151.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796408608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 28 - Cash Flow Disclosures - Cash Flow Disclosures (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories', window );">Inventories</a></td>
<td class="nump">$ 311,459<span></span>
</td>
<td class="num">$ (176,443)<span></span>
</td>
<td class="num">$ (804,415)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets', window );">Receivables and prepayments and Current tax assets</a></td>
<td class="num">(34,368)<span></span>
</td>
<td class="nump">30,144<span></span>
</td>
<td class="num">(4,564)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables', window );">Trade receivables</a></td>
<td class="nump">428,326<span></span>
</td>
<td class="num">(517,579)<span></span>
</td>
<td class="num">(259,375)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities', window );">Other liabilities</a></td>
<td class="num">(18,295)<span></span>
</td>
<td class="num">(22,984)<span></span>
</td>
<td class="nump">4,226<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers', window );">Customer advances</a></td>
<td class="nump">16,844<span></span>
</td>
<td class="nump">5,976<span></span>
</td>
<td class="nump">17,039<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables', window );">Trade payables</a></td>
<td class="num">(180,857)<span></span>
</td>
<td class="num">(57,066)<span></span>
</td>
<td class="nump">193,905<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInWorkingCapital', window );">Increase (decrease) in working capital</a></td>
<td class="nump">523,109<span></span>
</td>
<td class="num">(737,952)<span></span>
</td>
<td class="num">(853,184)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncomeTaxAccrualsLessPaymentsAbstract', window );"><strong>Income tax accruals less payments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations', window );">Tax accrued</a></td>
<td class="nump">202,452<span></span>
</td>
<td class="nump">229,207<span></span>
</td>
<td class="num">(17,136)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities', window );">Taxes paid</a></td>
<td class="num">(395,869)<span></span>
</td>
<td class="num">(170,713)<span></span>
</td>
<td class="num">(176,853)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncomeTaxExpense', window );">Adjustments for income tax expense</a></td>
<td class="num">(193,417)<span></span>
</td>
<td class="nump">58,494<span></span>
</td>
<td class="num">(193,989)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_InterestAccrualsLessPaymentsNetAbstract', window );"><strong>Interest accruals less payments, net</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest accrued</a></td>
<td class="num">(4,616)<span></span>
</td>
<td class="num">(2,914)<span></span>
</td>
<td class="num">(20,534)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestReceivedClassifiedAsOperatingActivities', window );">Interest received</a></td>
<td class="nump">30,890<span></span>
</td>
<td class="nump">40,613<span></span>
</td>
<td class="nump">50,001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities', window );">Interest paid</a></td>
<td class="num">(30,655)<span></span>
</td>
<td class="num">(31,548)<span></span>
</td>
<td class="num">(17,917)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Interest income (expense)</a></td>
<td class="num">(4,381)<span></span>
</td>
<td class="nump">6,151<span></span>
</td>
<td class="nump">11,550<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup', window );">Cash at banks, liquidity funds and short - term investments</a></td>
<td class="nump">1,554,299<span></span>
</td>
<td class="nump">428,361<span></span>
</td>
<td class="nump">330,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents', window );">Bank overdrafts</a></td>
<td class="num">(24)<span></span>
</td>
<td class="num">(1,644)<span></span>
</td>
<td class="num">(131)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition', window );">Total cash and cash equivalents if different from statement of financial position</a></td>
<td class="nump">$ 1,554,275<span></span>
</td>
<td class="nump">$ 426,717<span></span>
</td>
<td class="nump">$ 330,090<span></span>
</td>
<td class="nump">$ 398,580<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in inventories to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Inventories; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in loans and advances to customers to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Loans and advances to customers; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in trade and other receivables to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Trade and other receivables; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncomeTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for income tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncomeTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in other liabilities to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Other liabilities; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in trade and other payables to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Trade and other payables; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that has been withdrawn from an account in excess of existing cash balances. This is considered a short-term extension of credit by the bank. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankOverdraftsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents in the statement of cash flows when different from the amount of cash and cash equivalents in the statement of financial position. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from income taxes paid or refunded, classified as operating activities. [Refer: Income taxes paid (refund)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 14<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_14_f&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInWorkingCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in working capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInWorkingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from the passage of time. [Refer: Interest expense; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestReceivedClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from interest received, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestReceivedClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRevenueExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense arising from interest. [Refer: Interest expense; Interest income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRevenueExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in receivables and prepayments and current tax assets to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_AdjustmentsForIncreaseDecreaseInReceivablesAndPrepaymentsAndCurrentTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value as well as cash and cash equivalents are classified as a part of a disposal group.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CashAndCashEquivalentsIncludingThePortionOfCashAndCashEquivalentsThatAreClassifiedAsAPartOfADisposalGroup</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_IncomeTaxAccrualsLessPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_IncomeTaxAccrualsLessPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income taxes accrued, including portion related to the sale of discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_IncomeTaxesAccruedIncludingPortionOfSaleOfDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_InterestAccrualsLessPaymentsNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_InterestAccrualsLessPaymentsNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>105
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790242384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 36 - Update as of April 29, 2020<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock', window );">Disclosure of events after reporting period and approval date [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 38.75pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">36</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Update as of <div style="display: inline; font-style: italic; font: inherit;"> April 29, 2020</div><div style="display: inline; font-size: 10pt"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"><div style="display: inline; font-style: italic; font: inherit;">1</div></div></div></div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><div style="display: inline; font-style: italic;">The COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic and the oil &amp; gas crisis and their impact on Tenaris&#x2019;s operations and financial condition</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A novel strain of coronavirus (SARS-CoV-<div style="display: inline; font-style: italic; font: inherit;">2</div>) surfaced in China in <div style="display: inline; font-style: italic; font: inherit;"> December 2019 </div>and subsequently spread to the rest of the world in early <div style="display: inline; font-style: italic; font: inherit;">2020.</div> In <div style="display: inline; font-style: italic; font: inherit;"> March 2020, </div>the World Health Organization declared COVID-<div style="display: inline; font-style: italic; font: inherit;">19,</div> the disease caused by the SARS-CoV-<div style="display: inline; font-style: italic; font: inherit;">2</div> virus, a global pandemic. In response to the COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> outbreak, countries have taken different measures in relation to prevention and containment. For example, several countries introduced bans on business activities or locked down cities or countries, including countries where Tenaris has operations (such as Argentina, China, Colombia, Italy, Mexico and the United States). The rapid expansion of the virus and the measures taken to contain it have triggered a severe fall in global economic activity and a serious crisis in the energy sector.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While the extent of the effects of COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> on the global economy and oil demand were still unclear, in <div style="display: inline; font-style: italic; font: inherit;"> March 2020, </div>the members of OPEC+ (OPEC plus other major oil producers including Russia) did <div style="display: inline; font-style: italic; font: inherit;">not</div> agree to extend their agreement to cut oil production and Saudi Arabia precipitated a wave of additional supply on the market triggering a collapse in oil prices below <div style="display: inline; font-style: italic; font: inherit;">$30</div> per barrel. This exacerbated what soon became clear was an unprecedented situation of oversupply, caused primarily by the sudden and dramatic fall in oil consumption consequent to the measures taken to contain the spread of the virus around the world. Although OPEC+ subsequently reached an equally unprecedented agreement to cut production by as much as <div style="display: inline; font-style: italic; font: inherit;">9.7</div> million barrels per day, a situation of acute oversupply remains, causing oil prices to hit record lows. By the end of trading on <div style="display: inline; font-style: italic; font: inherit;"> April 20, 2020, </div>the West Texas Intermediate (WTI) forward price for delivery in <div style="display: inline; font-style: italic; font: inherit;"> May, </div>which had to be closed out the following day, fell to a negative value for the <div style="display: inline; font-style: italic; font: inherit;">first</div> time in history, as oil storage facilities were completely committed, and producers were forced to pay buyers to take their barrels. It is <div style="display: inline; font-style: italic; font: inherit;">not</div> known how long it will take for oil and gas demand to recover or achieve a more balanced position between supply and demand. As a result, prices are expected to remain at low levels for an extended period. In these circumstances, most of our customers have announced, or are making, significant cuts to their investment plans and are likely to announce further cuts. Similarly, several of our suppliers are closing, either temporarily or permanently, some of their facilities, which <div style="display: inline; font-style: italic; font: inherit;"> may </div>result in unavailability or increased prices for our raw materials and other inputs.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in">-</td> <td><div style="display: inline; font-style: italic;">Status of our operations&nbsp;</div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are adjusting our operations on a country-by-country basis to comply with applicable rules and requirements and adapt to this new, rapidly evolving scenario. As of the date of these Consolidated Financial Statements, this is the status of our facilities:</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td><div style="display: inline; font-family: Times New Roman, Times, Serif">In China, we are again fully operational, after several weeks of interruption and an extraordinary combined effort of our people and of our community. </div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td><div style="display: inline; font-family: Times New Roman, Times, Serif">In Italy, production was greatly reduced; although our Dalmine facility was used exclusively for the manufacturing of oxygen tanks to aid local hospitals and health centers for a limited period of time, currently the facility is gradually resuming normal operations. In Argentina, Colombia, Mexico and Saudi Arabia, Tenaris decreased its activity following the imposition of mandatory lockdowns, and our plants in these countries are currently operating at reduced levels. Although the lockdowns or restrictions to operate in these countries are expected to end or be relaxed in the next few weeks, these could be extended and/or made more stringent if so decided by the appropriate authorities as the circumstances could require.</div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td><div style="display: inline; font-family: Times New Roman, Times, Serif">In the United States, our facilities in Koppel and Ambridge (PA), Brookfield (OH), Blytheville (AR), Wilder (KY), and Odessa and Baytown (TX), have been or will be temporarily closed until market conditions improve. In addition, Tenaris is in the process of performing employee reductions and adjusting production levels at its other facilities in line with market demand. </div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to safeguard the health and safety of its employees, customers and suppliers, Tenaris has taken preventive measures, including remote working for the majority of white collar employees, restricting onsite access to essential operational personnel, keeping personnel levels at a minimum, implementing a special operations protocol to ensure social distancing and providing medical assistance and supplies to onsite employees. As of the date of these Consolidated Financial Statements, remote work and other work arrangements have <div style="display: inline; font-style: italic; font: inherit;">not</div> materially adversely affected Tenaris&#x2019;s ability to conduct operations. In addition, these alternative working arrangements have <div style="display: inline; font-style: italic; font: inherit;">not</div> adversely affected our financial reporting systems, internal control over financial reporting or disclosure controls and procedures.</div> <hr align="left" style="width: 33% font-size: width: 33%" /> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><div style="display: inline; font-family: Times New Roman, Times, Serif"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"><div style="display: inline; font-style: italic; font: inherit;">1</div></div></div> This note was added subsequent to the approval of these Consolidated Financial Statements by the Company&#x2019;s Board of Directors on <div style="display: inline; font-style: italic; font: inherit;"> February 19, 2020.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0 0pt 283.5pt; font-size: 10pt; text-align: right; text-indent: 4.5pt"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <!-- Field: Page; Sequence: 166 -->   <div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in">-</td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Risks associated with the COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic and the oil &amp; gas crisis</div></td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Given the uncertainty around the extent and timing of the future spread of the SARS-CoV-<div style="display: inline; font-style: italic; font: inherit;">2</div> virus and the unprecedented extent of the oversupply on the oil market and the uncertainty about the timing and extent of any recovery in demand, it is <div style="display: inline; font-style: italic; font: inherit;">not</div> possible at this time to predict the full magnitude of the adverse effects that these <div style="display: inline; font-style: italic; font: inherit;">two</div> circumstances will have on our industry generally, nor to reasonably estimate the impact on Tenaris&#x2019;s results of operations, cash flows or financial condition.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic and the ongoing oil &amp; gas crisis poses the following main risks and challenges to Tenaris:</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td><div style="display: inline; font-family: Times New Roman, Times, Serif">Global oil or gas demand <div style="display: inline; font-style: italic; font: inherit;"> may </div>fail to recover or even decrease further in the future, driving down prices even more or keeping them at very low levels, which would exert downward pressure on sales and margins of oil and gas companies, leading to further reductions and even generalized suspension of drilling activities (in the U.S. or elsewhere) and, as a result, materially adversely affecting our sales and financial position.</div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td><div style="display: inline; font-family: Times New Roman, Times, Serif">Tenaris or its employees, contractors, suppliers, customers and other business partners <div style="display: inline; font-style: italic; font: inherit;"> may </div>be prevented from conducting certain business activities for a prolonged or indefinite period of time. In addition, employees in some or all of our facilities, or those of our contracts, suppliers, customers or other business partners, <div style="display: inline; font-style: italic; font: inherit;"> may </div>refuse to work due to health concerns while the COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> outbreak is ongoing, If that happens, the continuity of our future operations <div style="display: inline; font-style: italic; font: inherit;"> may </div>be severely affected.</div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td><div style="display: inline; font-family: Times New Roman, Times, Serif">A continuing spread of COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> <div style="display: inline; font-style: italic; font: inherit;"> may </div>affect the availability and price of raw materials, energy and other inputs used by Tenaris in its operations. Any such disruption or increased prices could adversely affect Tenaris&#x2019;s profitability.</div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in">-</td> <td><div style="display: inline; font-style: italic;">Mitigating actions</div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to mitigate the impact of expected lower sales, Tenaris is working on a worldwide rightsizing program and cost containment plan aimed at preserving its financial resources and overall liquidity position and maintaining the continuity of its operations. The actions include:</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify"><div style="display: inline; font-family: Times New Roman, Times, Serif">Adjusting the level of our operations and workforce around the world, including through the temporary closure of certain U.S. facilities or production lines, as indicated above;</div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify"><div style="display: inline; font-family: Times New Roman, Times, Serif">Introducing efficiency and productivity improvements throughout Tenaris&#x2019;s industrial system;</div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify"><div style="display: inline; font-family: Times New Roman, Times, Serif">Downsizing our fixed cost structure, including through pay reductions for senior management and board members, aggregating estimated total annual savings of approximately <div style="display: inline; font-style: italic; font: inherit;">$220</div> million by year-end; </div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify"><div style="display: inline; font-family: Times New Roman, Times, Serif">Reducing capital expenditures and R&amp;D expenses for approximately <div style="display: inline; font-style: italic; font: inherit;">$150</div> million when compared to <div style="display: inline; font-style: italic; font: inherit;">2019</div> levels; </div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 13.5pt"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify"><div style="display: inline; font-family: Times New Roman, Times, Serif">Reducing working capital, especially inventories, in accordance with the expected levels of activity; and</div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify"><div style="display: inline; font-family: Times New Roman, Times, Serif">Increasing our focus on managing customer credit conditions. </div></td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As part of these liquidity preservation initiatives, the board of directors resolved to propose, for approval by the Annual Shareholders Meeting to be held on <div style="display: inline; font-style: italic; font: inherit;"> June 2, 2020, </div>that <div style="display: inline; font-style: italic; font: inherit;">no</div> further dividends be distributed in respect of fiscal year <div style="display: inline; font-style: italic; font: inherit;">2019</div> on top of the interim dividend of approximately <div style="display: inline; font-style: italic; font: inherit;">$153</div> million already paid in <div style="display: inline; font-style: italic; font: inherit;"> November 2019.</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of the date of these Consolidated Financial Statements, our capital and financial resources, and overall liquidity position, have <div style="display: inline; font-style: italic; font: inherit;">not</div> been materially affected by this new scenario. Tenaris has in place non-committed credit facilities and management believes it has adequate access to the credit markets. In addition, Tenaris has a net cash position of approximately <div style="display: inline; font-style: italic; font: inherit;">$271</div> million as of the end of <div style="display: inline; font-style: italic; font: inherit;"> March 2020 </div>and a manageable debt amortization schedule. Considering our financial position and the funds provided by operating activities, management believes that we have sufficient resources to satisfy our current working capital needs, service our debt and address short-term changes in business conditions.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><div style="display: inline; font-style: italic;">&nbsp;</div></div> </div> <!-- Field: Page; Sequence: 167 -->   <div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><div style="display: inline; font-style: italic;">Acquisition of IPSCO Tubulars, Inc.</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.5in">(i)</td> <td>Closing Statement</td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On <div style="display: inline; font-style: italic; font: inherit;"> March 16, 2020, </div>Tenaris delivered, for TMK&#x2019;s review, a closing statement prepared in accordance with the acquisition agreement, including Tenaris&#x2019;s calculation of the closing price based on actual amounts of cash, indebtedness, working capital and certain other items as of the closing date.&nbsp;In case of disagreement, the parties are expected to engage in good-faith negotiations to solve any discrepancies. If the parties cannot resolve the disputed amounts, the discrepancies must be submitted to and resolved by an independent accounting firm.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.5in">(ii)</td> <td style="text-align: justify">Purchase Price Allocation</td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2020, </div>the preliminary purchase price allocation was carried out with the assistance of a <div style="display: inline; font-style: italic; font: inherit;">third</div>-party expert.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The application of the purchase method requires certain estimates and assumptions, including estimates and assumptions concerning the determination of the fair values of the acquired intangible assets and property, plant and equipment as well as the liabilities assumed at the date of the acquisition. The fair values determined at the acquisition date are based mainly on discounted cash flows and other valuation techniques.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preliminary allocation of the fair values determined for the assets and liabilities arising from the acquisition is as follows:</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-weight: bold">Fair value of acquired assets and liabilities:</td> <td style="font-weight: bold">&nbsp;</td> <td colspan="3" style="font-weight: bold; text-align: center">$ million</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 77%; text-align: left">Property, Plant and Equipment</td> <td style="width: 1%">&nbsp;</td> <td style="width: 1%; text-align: left">&nbsp;</td> <td style="width: 20%; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">506</div></td> <td style="width: 1%; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">170</div></td> <td style="text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Working capital</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144</div></td> <td style="text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash and Cash Equivalents</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other assets</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46</div></td> <td style="text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>Borrowings</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(53</div></td> <td style="text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Provisions</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27</div></td> <td style="text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other liabilities</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(77</div></td> <td style="text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Deferred tax liabilities</td> <td style="padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3</div></td> <td style="border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net assets acquired</td> <td style="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">710</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tenaris acquired total assets and liabilities shown above, for approximately <div style="display: inline; font-style: italic; font: inherit;">$1,067</div> million. As a result of the acquisition, the Company recognized goodwill for approximately <div style="display: inline; font-style: italic; font: inherit;">$357</div> million. The goodwill is <div style="display: inline; font-style: italic; font: inherit;">not</div> expected to be deductible for tax purposes.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The goodwill generated by the acquisition is mainly attributable to the synergy created following the integration between Tenaris and IPSCO, which is expected to enhance Tenaris&#x2019;s position as well as its local manufacturing presence in the U.S. market, and also expand its product range and services capabilities. The goodwill has been allocated to the Tubes segment. After the conclusion of the preliminary purchase price allocation determination and as a consequence of the unprecedented decline in oil prices and other changes in circumstances, the management has decided to impair the goodwill mentioned above.&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following IFRS <div style="display: inline; font-style: italic; font: inherit;">3,</div> the Company will continue reviewing the allocation and make any necessary adjustments (mainly over property, plant and equipment and intangible assets) during the <div style="display: inline; font-style: italic; font: inherit;">twelve</div> months following the acquisition date.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Acquisition-related costs of <div style="display: inline; font-style: italic; font: inherit;">$9.7</div> million were included in general and administrative expenses (<div style="display: inline; font-style: italic; font: inherit;">$9.4</div> million and $ <div style="display: inline; font-style: italic; font: inherit;">0.3</div> million in <div style="display: inline; font-style: italic; font: inherit;">2019</div> and <div style="display: inline; font-style: italic; font: inherit;">2020</div> respectively).</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.5in">(iii)</td> <td>Temporary suspension of operations at certain facilities</td> </tr>  </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Given the abrupt and steep decline in market demand, the facilities in Koppel and Ambridge (PA), Brookfield (OH), Blytheville (AR), Wilder (KY), and Odessa and Baytown (TX), were temporarily closed until market conditions improve.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> </div>  <div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.75pt"><div style="display: inline; font-style: italic;"></div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><div style="display: inline; font-style: italic;">Impairment of Assets</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a result of the severe deterioration of business conditions and in light of the presence of impairment indicators for its U.S. operations, Tenaris recorded impairment charges as of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2020, </div>in the carrying values of goodwill and other asset values at the cash-generating units OCTG USA (Maverick), IPSCO, Rods USA and Coiled Tubing, for an aggregate amount of approximately <div style="display: inline; font-style: italic; font: inherit;">$622</div> million.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These Consolidated Financial Statements do <div style="display: inline; font-style: italic; font: inherit;">not</div> reflect these impairment charges.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><div style="display: inline; font-style: italic;">Closure of facilities at JFE&#x2019;s Keihin steel complex</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Our seamless pipe manufacturing facility in Asia, operated by NKKTubes, is located in Kawasaki, Japan, in the Keihin steel complex owned by JFE. Steel bars and other essential inputs and services for NKKTubes are supplied under a long-term agreement by JFE, which retains a <div style="display: inline; font-style: italic; font: inherit;">49%</div> interest in NKKTubes. On <div style="display: inline; font-style: italic; font: inherit;"> March 27, 2020, </div>JFE informed Tenaris of its decision to permanently cease, as from JFE&#x2019;s fiscal year ending <div style="display: inline; font-style: italic; font: inherit;"> March 2024, </div>the operations of certain of its steel manufacturing facilities and other facilities located at the Keihin complex. The closure of JFE&#x2019;s Keihin facilities <div style="display: inline; font-style: italic; font: inherit;"> may </div>result in the unavailability of steel bars and other essential inputs or services used in NKKTubes&#x2019; manufacturing process, thereby affecting its operations. Tenaris and JFE have agreed to engage in discussions to seek mutually acceptable solutions.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><div style="display: inline; font-style: italic;">Annual Dividend Proposal</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><div style="display: inline; font-style: italic;"></div></div> <div style=" font-size: 10pt; margin: 0">On <div style="display: inline; font-style: italic; font: inherit;"> April 29, 2020, </div>the Company&#x2019;s board of directors resolved to propose, for approval by the annual shareholders meeting to be held on <div style="display: inline; font-style: italic; font: inherit;"> June 2, 2020, </div>that <div style="display: inline; font-style: italic; font: inherit;">no</div> further dividends be distributed in respect of fiscal year <div style="display: inline; font-style: italic; font: inherit;">2019</div> beyond the interim dividend of approximately <div style="display: inline; font-style: italic; font: inherit;">$153</div> million already paid in <div style="display: inline; font-style: italic; font: inherit;"> November 2019. </div>For a discussion of the rationale behind the dividend proposal, see <div style="display: inline; font-style: italic;">&#x201c;The COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic and the oil &amp; gas crisis and their impact on Tenaris&#x2019;s operations and financial condition&#x201d;</div> included in this note.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><div style="display: inline; font-style: italic;"></div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><div style="display: inline; font-style: italic;">&nbsp;</div></div> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for events after the reporting period and subsequent to the approval of the financial statements by the board of directors.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfEventsAfterReportingPeriodAndApprovalDateTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>106
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>107
<FILENAME>R155.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6798888416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 29 - Discontinued Operations - Discontinued Operations (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Jan. 19, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="nump">$ 7,294,055<span></span>
</td>
<td class="nump">$ 7,658,588<span></span>
</td>
<td class="nump">$ 5,288,504<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="nump">2,186,560<span></span>
</td>
<td class="nump">2,379,288<span></span>
</td>
<td class="nump">1,603,447<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent', window );">Net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,848<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale', window );">Cash at the beginning</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">206<span></span>
</td>
<td class="nump">18,820<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale', window );">Cash at the end</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">206<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations', window );">(Decrease) Increase in cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(18,614)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations', window );">(Used in) provided by operating activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,046)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations', window );">Provided by (used in) investing activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations', window );">Used in financing activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non-current assets</a></td>
<td class="nump">9,172,384<span></span>
</td>
<td class="nump">8,787,107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets</a></td>
<td class="nump">5,670,607<span></span>
</td>
<td class="nump">5,464,192<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non-current liabilities:</a></td>
<td class="nump">876,162<span></span>
</td>
<td class="nump">657,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="nump">1,780,457<span></span>
</td>
<td class="nump">1,718,363<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember', window );">Discontinued operations [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">11,899<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent', window );">Net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,848<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember', window );">Disposal groups classified as held for sale [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non-current assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 87,332<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">69,332<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Total assets of disposal group classified as held for sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">156,664<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non-current liabilities:</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,294<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,556<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Total liabilities of disposal group classified as held for sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,850<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents that are classified as a part of a disposal group held for sale. [Refer: Cash and cash equivalents; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) the entity's financing activities, related to discontinued operations. [Refer: Discontinued operations [member]; Cash flows from (used in) financing activities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) the entity's investing activities, related to discontinued operations. [Refer: Discontinued operations [member]; Cash flows from (used in) investing activities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) the entity's operating activities, related to discontinued operations. [Refer: Discontinued operations [member]; Cash flows from (used in) operating activities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income from discontinued operations attributable to owners of the parent. [Refer: Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents from discontinued operations. [Refer: Cash and cash equivalents; Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities included in disposal groups classified as held for sale. [Refer: Liabilities; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 38<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph p<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_p&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets or disposal groups classified as held for sale or as held for distribution to owners. [Refer: Non-current assets or disposal groups classified as held for distribution to owners; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph j<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_j&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.
Effective 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>108
<FILENAME>R42.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790456624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 32 - Principal Subsidiaries<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory', window );">Disclosure of interests in subsidiaries [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 2.75pt"></td> <td style="width: 36pt"><div style="display: inline; font-style: italic; font: inherit;">32</div></td> <td>Principal subsidiaries</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The following is a list of Tenaris&#x2019;s principal subsidiaries and its direct and indirect percentage of ownership of each controlled company at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Company</div></div></td> <td style="border-top: black 1pt solid; border-right: black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Country of<br /> Incorporation</div></div></td> <td style="border-top: black 1pt solid; border-right: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Main activity</div></div></td> <td colspan="3" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Percentage of ownership at<br /> December 31, (*)</div></div></td> </tr> <tr> <td style="vertical-align: bottom; width: 41%; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td> <td style="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td> <td style="vertical-align: bottom; width: 27%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td> <td style="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2019</div></div></td> <td style="vertical-align: bottom; width: 6%; border-right: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2018</div></div></td> <td style="vertical-align: bottom; width: 8%; border-right: black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2017</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">ALGOMA TUBES INC.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Canada</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">CONFAB INDUSTRIAL S.A. and subsidiaries</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Brazil</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded steel pipes and capital goods</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">DALMINE S.p.A.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Italy</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">HYDRIL COMPANY and subsidiaries (except detailed) (a)</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacture and marketing of premium connections</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">KAZAKHSTAN PIPE THREADERS LIMITED LIABILITY PARTNERSHIP</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Kazakhstan</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Threading of premium products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">MAVERICK TUBE CORPORATION and subsidiaries</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded steel pipes </div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">NKKTUBES</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Japan</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">51%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">51%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">51%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">P.T. SEAMLESS PIPE INDONESIA JAYA</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Indonesia</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">89%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">89%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">89%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">PRUDENTIAL STEEL LTD.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Canada</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded steel pipes </div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">S.C. SILCOTUB S.A.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Romania</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">SAUDI STEEL PIPE CO.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Saudi Arabia</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded steel pipes </div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">48%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">NA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">NA</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">SIAT SOCIEDAD ANONIMA</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Argentina</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded and seamless steel pipes </div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL and subsidiaries</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Argentina</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TALTA - TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Portugal</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding Company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS BAY CITY, INC.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS CONNECTIONS BV</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Netherlands</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Development, management and licensing of intellectual property</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS FINANCIAL SERVICES S.A.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Uruguay</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Financial company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS GLOBAL SERVICES (CANADA) INC.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Canada</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Marketing of steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Marketing of steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS GLOBAL SERVICES (UK) LTD</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">United Kingdom</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company and marketing of steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS GLOBAL SERVICES S.A. and subsidiaries (except detailed) (b)</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Uruguay</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company and marketing of steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS INVESTMENTS (NL) B.V.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Netherlands</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">NA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">NA</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS INVESTMENTS S.&agrave;r.l.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Luxembourg</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Switzerland</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS TUBOCARIBE LTDA.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Colombia</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded and seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><div style="display: inline; font-size: 10pt">TUBOS DE ACERO DE MEXICO, S.A.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Mexico</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(*) All percentages rounded.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(a) Tenaris Investments S.&agrave;.r.l. holds <div style="display: inline; font-style: italic; font: inherit;">100%</div> of Hydril's subsidiaries shares except for Technical Drilling &amp; Production Services Nigeria. Ltd where it holds <div style="display: inline; font-style: italic; font: inherit;">80%.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(b) Tenaris Investments S.&agrave;.r.l holds <div style="display: inline; font-style: italic; font: inherit;">97,5%</div> of Tenaris Supply Chain S.A. and <div style="display: inline; font-style: italic; font: inherit;">40%</div> of Tubular Technical Services Ltd. and Pipe Coaters Nigeria Ltd., <div style="display: inline; font-style: italic; font: inherit;">49%</div> of Amaja Tubular Services Limited, <div style="display: inline; font-style: italic; font: inherit;">49%</div> Tubular Services Angola Lda.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of interests in subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 2<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_2_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInterestsInSubsidiariesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>109
<FILENAME>R159.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6802710736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 32 - Principal Subsidiaries (Details Textual)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_HydrilCompanyAndSubsidiariesMember', window );">HYDRIL COMPANY and subsidiaries [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TechnicalDrillingProductionServicesNigeriaLtdMember', window );">Technical Drilling &amp; Production Services Nigeria. Ltd [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="nump">80.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisSupplyChainSAMember', window );">Tenaris Supply Chain S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="nump">97.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TubularTechnicalServicesAndPipeCoatersMember', window );">Tubular Technical Services and Pipe Coaters [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="nump">40.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_AmajaTubularServicesLimitedMember', window );">Amaja Tubular Services Limited [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="nump">49.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TubularServicesAngolaLdaMember', window );">Tubular Services Angola Lda. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="nump">49.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_HydrilCompanyAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_HydrilCompanyAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TechnicalDrillingProductionServicesNigeriaLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TechnicalDrillingProductionServicesNigeriaLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisSupplyChainSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TenarisSupplyChainSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TubularTechnicalServicesAndPipeCoatersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TubularTechnicalServicesAndPipeCoatersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_AmajaTubularServicesLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_AmajaTubularServicesLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TubularServicesAngolaLdaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TubularServicesAngolaLdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>110
<FILENAME>R138.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6789310464">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 21 - Other Liabilities - Other Current Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentEmployeeRelatedLiabilities', window );">Payroll and social security payable</a></td>
<td class="nump">$ 153,009<span></span>
</td>
<td class="nump">$ 148,069<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherCurrentMiscellaneousLiabilities', window );">Miscellaneous</a></td>
<td class="nump">23,255<span></span>
</td>
<td class="nump">17,624<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentLiabilities', window );">Other current liabilities</a></td>
<td class="nump">$ 176,264<span></span>
</td>
<td class="nump">$ 165,693<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentEmployeeRelatedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current employee related liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentEmployeeRelatedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherCurrentMiscellaneousLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other current miscellaneous liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherCurrentMiscellaneousLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>111
<FILENAME>R23.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790598176">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 13 - Receivables - Non Current<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfNoncurrentReceivablesTextBlock', window );">Disclosure of non-current receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">13</div></div></td> <td><div style="display: inline; font-weight: bold;">Receivables &#x2013; non current</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Employee advances and loans</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,008</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,740</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Tax credits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,065</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,025</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Receivables from related parties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59,999</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">58,128</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Legal deposits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,378</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,446</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Advances to suppliers and other advances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,772</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,592</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Derivative financial instruments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Receivable Venezuelan subsidiaries</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,222</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,263</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">157,103</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">151,905</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfNoncurrentReceivablesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for non-current receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfNoncurrentReceivablesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>112
<FILENAME>R134.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790407312">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 21 - Other Liabilities - Other Noncurrent Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentPostemploymentBenefits', window );">Post-employment benefits</a></td>
<td class="nump">$ 144,993<span></span>
</td>
<td class="nump">$ 115,087<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherNoncurrentBenefits', window );">Other-long term benefits</a></td>
<td class="nump">85,473<span></span>
</td>
<td class="nump">78,492<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherNoncurrentMiscellaneousLiabilities', window );">Miscellaneous</a></td>
<td class="nump">20,917<span></span>
</td>
<td class="nump">19,550<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Other non-current liabilities</a></td>
<td class="nump">$ 251,383<span></span>
</td>
<td class="nump">$ 213,129<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NoncurrentPostemploymentBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current post-employment benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NoncurrentPostemploymentBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherNoncurrentBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other non-current benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherNoncurrentBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherNoncurrentMiscellaneousLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other non-current miscellaneous liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherNoncurrentMiscellaneousLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>113
<FILENAME>R27.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790313232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 17 - Trade Receivables, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory', window );">Disclosure of trade and other receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">17</div></div></td> <td><div style="display: inline; font-weight: bold;">Trade receivables, net</div></td> </tr>  </table> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Current accounts</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,387,494</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,778,796</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Receivables from related parties</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,448</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,105</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,396,942</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,803,901</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for doubtful accounts (see Note 23 (i))</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(48,782</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(66,535</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The following table sets forth details of the aging of trade receivables:&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Past due</div></div></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Trade Receivables</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Not Due</div>&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">1 - 180 days</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&gt;180 days</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; font-size: 10pt">Guaranteed</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">234,427</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">205,764</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,899</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,764</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Not guaranteed</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,162,515</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">948,449</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">157,960</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,106</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Guaranteed and not guaranteed</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,396,942</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,154,213</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">184,859</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">57,870</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Expected loss rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.09</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.04</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.24</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.57</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Allowances for doubtful accounts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,294</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(529</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(455</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(310</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Nominative allowances for doubtful accounts</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(47,488</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,922</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(45,566</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Net Value</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,153,684</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">182,482</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,994</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"></td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td colspan="5" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Past due</div></div></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">Trade Receivables</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Not Due</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-left: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">1 - 180 days</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&gt;180 days</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2018</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; font-size: 10pt">Guaranteed</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">286,250</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">254,743</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,884</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">623</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Not guaranteed</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,517,651</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,180,788</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">260,675</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">76,188</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Guaranteed and not guaranteed</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,803,901</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,435,531</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">291,559</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">76,811</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Expected loss rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.07</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.04</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.17</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.43</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Allowances for doubtful accounts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,396</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(564</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(510</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(322</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Nominative allowances for doubtful accounts</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(65,139</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,436</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(63,703</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Net Value</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,434,967</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">289,613</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,786</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Trade receivables are mainly denominated in <div style="display: inline; color: black">U.S. dollars.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of trade and other receivables. [Refer: Trade and other receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>114
<FILENAME>R130.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6799101552">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 20 - Deferred Income Tax - Deferred Tax Assets and Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 197,433<span></span>
</td>
<td class="nump">$ 304,438<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,100<span></span>
</td>
<td class="nump">4,171<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,847<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(838)<span></span>
</td>
<td class="nump">1,898<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(97,240)<span></span>
</td>
<td class="num">(113,897)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">823<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">111,302<span></span>
</td>
<td class="nump">197,433<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsProvisionsAndAllowancesMember', window );">Deferred tax assets, provisions and allowances [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(16,116)<span></span>
</td>
<td class="num">(26,475)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">362<span></span>
</td>
<td class="nump">2,532<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,160)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">23<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,739)<span></span>
</td>
<td class="nump">6,852<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">952<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(19,653)<span></span>
</td>
<td class="num">(16,116)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsInventoryMember', window );">Deferred tax assets, inventory [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(86,585)<span></span>
</td>
<td class="num">(89,555)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">306<span></span>
</td>
<td class="nump">1,447<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,413)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,712)<span></span>
</td>
<td class="nump">1,523<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(93,404)<span></span>
</td>
<td class="num">(86,585)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsTaxLossMember', window );">Deferred tax assets, tax loss [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(396,257)<span></span>
</td>
<td class="num">(354,944)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">497<span></span>
</td>
<td class="nump">1,014<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,172)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,100<span></span>
</td>
<td class="num">(42,327)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(382,832)<span></span>
</td>
<td class="num">(396,257)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsOtherMember', window );">Deferred tax assets, other [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(86,184)<span></span>
</td>
<td class="num">(60,033)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">286<span></span>
</td>
<td class="num">(38)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,238)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,261)<span></span>
</td>
<td class="nump">1,587<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(92,209)<span></span>
</td>
<td class="num">(27,536)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(164)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(181,606)<span></span>
</td>
<td class="num">(86,184)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsMember', window );">Deferred tax assets [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(585,142)<span></span>
</td>
<td class="num">(531,007)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,451<span></span>
</td>
<td class="nump">4,955<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,983)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,261)<span></span>
</td>
<td class="nump">1,610<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(86,560)<span></span>
</td>
<td class="num">(61,488)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">788<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(677,495)<span></span>
</td>
<td class="num">(585,142)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTaxLiabilitiesFixedAssetsMember', window );">Deferred tax liabilities, fixed assets [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">710,995<span></span>
</td>
<td class="nump">744,926<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(347)<span></span>
</td>
<td class="num">(876)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(64,930)<span></span>
</td>
<td class="num">(33,055)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">651,339<span></span>
</td>
<td class="nump">710,995<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTaxLiabilitiesInventoryMember', window );">Deferred tax liabilities, inventory [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">25,048<span></span>
</td>
<td class="nump">34,934<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,652)<span></span>
</td>
<td class="num">(9,886)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,396<span></span>
</td>
<td class="nump">25,048<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember', window );">Deferred tax liabilities, intangible and other assets [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">46,532<span></span>
</td>
<td class="nump">55,585<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4)<span></span>
</td>
<td class="nump">92<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,209<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">423<span></span>
</td>
<td class="nump">288<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">59,902<span></span>
</td>
<td class="num">(9,468)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">118,062<span></span>
</td>
<td class="nump">46,532<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTabLiabilitiesMember', window );">Deferred tab liabilities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">782,575<span></span>
</td>
<td class="nump">835,445<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(351)<span></span>
</td>
<td class="num">(784)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,830<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Charged directly to other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">423<span></span>
</td>
<td class="nump">288<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Income statement charge / (credit)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(10,680)<span></span>
</td>
<td class="num">(52,409)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards', window );">Effect of adoption of new standards</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 788,797<span></span>
</td>
<td class="nump">$ 782,575<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes the effect of currency translation on tax base. See Note 7.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense or income relating to changes in deferred tax liabilities and deferred tax assets, recognised in profit or loss. [Refer: Deferred tax assets; Deferred tax expense (income); Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in deferred tax liability (asset) resulting from business combinations. [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in deferred tax liability (asset) resulting from the net exchange differences arising when the financial statements are translated from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of increase (decrease) in deferred tax assets due to the adoption of new accounting standards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DeferredTaxAssetIncreaseDecreaseDueToAdoptionOfNewAccountingStandards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of increase (decrease) in deferred tax assets due to adoption of new accounting standards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DeferredTaxLiabilityIncreaseDecreaseDueToAdoptionOfNewAccountingStandards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsProvisionsAndAllowancesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsProvisionsAndAllowancesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsInventoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsInventoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsTaxLossMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsTaxLossMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsOtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsOtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_DeferredTaxAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTaxLiabilitiesFixedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTaxLiabilitiesFixedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTaxLiabilitiesInventoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTaxLiabilitiesInventoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTaxLiabilitiesIntangibleAndOtherAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTabLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=ts_DeferredTabLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>115
<FILENAME>R113.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796912608">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Investments in Non-consolidated Companies - Principal Non-consolidated Companies (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 879,965<span></span>
</td>
<td class="nump">$ 805,568<span></span>
</td>
<td class="nump">$ 640,294<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember', window );">Ternium S.A. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 751,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember', window );">Ternium S.A. [member] | LUXEMBOURG</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">11.46%<span></span>
</td>
<td class="nump">11.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 751,105<span></span>
</td>
<td class="nump">$ 725,548<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 74,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | BRAZIL</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Percentage of ownership</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">3.07%<span></span>
</td>
<td class="nump">3.07%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">$ 74,593<span></span>
</td>
<td class="nump">$ 72,988<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_OtherMember', window );">Other [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 54,267<span></span>
</td>
<td class="nump">$ 7,032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Including treasury shares.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">At December 31, 2019 and 2018 the voting rights were 5.2%.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_LU">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_LU</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_BR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_BR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_OtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_OtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>116
<FILENAME>R117.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6809398784">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 15 - Receivables and Prepayments, Net - Summary of Receivables and Prepayments (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables', window );">Prepaid expenses and other receivables</a></td>
<td class="nump">$ 30,579<span></span>
</td>
<td class="nump">$ 31,599<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReceivablesAndPrepaymentsGovernmentEntities', window );">Government entities</a></td>
<td class="nump">1,867<span></span>
</td>
<td class="nump">2,182<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans', window );">Employee advances and loans</a></td>
<td class="nump">8,189<span></span>
</td>
<td class="nump">6,521<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances', window );">Advances to suppliers and other advances</a></td>
<td class="nump">17,180<span></span>
</td>
<td class="nump">23,467<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports', window );">Government tax refunds on exports</a></td>
<td class="nump">670<span></span>
</td>
<td class="nump">4,896<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties', window );">Receivables from related parties</a></td>
<td class="nump">19,837<span></span>
</td>
<td class="nump">63,322<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReceivablesAndPrepaymentsMiscellaneous', window );">Miscellaneous</a></td>
<td class="nump">31,145<span></span>
</td>
<td class="nump">30,682<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReceivablesAndPrepaymentsGross', window );">Receivables and prepayments, gross</a></td>
<td class="nump">109,467<span></span>
</td>
<td class="nump">162,669<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AllowanceForOtherDoubtfulAccounts', window );">Allowance for other doubtful accounts (see Note 23 (i))</a></td>
<td class="num">(4,892)<span></span>
</td>
<td class="num">(6,784)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets', window );">Current prepayments and other current assets</a></td>
<td class="nump">$ 104,575<span></span>
</td>
<td class="nump">$ 155,885<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current prepayments and other current assets. [Refer: Other current assets; Current prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_AllowanceForOtherDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents a valuation allowance for other doubtful accounts that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_AllowanceForOtherDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of advances to suppliers and other advances that are attributable to receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReceivablesAndPrepaymentsAdvancesToSuppliersAndOtherAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of employee advances and loans that are attributable to receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReceivablesAndPrepaymentsEmployeeAdvancesAndLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReceivablesAndPrepaymentsGovernmentEntities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of government entities attributable to receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReceivablesAndPrepaymentsGovernmentEntities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of government tax refunds on exports that are attributable to receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReceivablesAndPrepaymentsGovernmentTaxRefundsOnExports</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReceivablesAndPrepaymentsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross amount of receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReceivablesAndPrepaymentsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReceivablesAndPrepaymentsMiscellaneous">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of miscellaneous items that are attributable to receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReceivablesAndPrepaymentsMiscellaneous</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of prepaid expenses and other receivables attributable to receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReceivablesAndPrepaymentsPrepaidExpensesAndOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of receivables from related parties that are attributable to receivables and prepayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReceivablesAndPrepaymentsReceivablesFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>117
<FILENAME>R121.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6799380016">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 17 - Trade Receivables, Net - Summary of the Aging of Trade Receivables (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesGuaranteed', window );">Guaranteed</a></td>
<td class="nump">$ 234,427<span></span>
</td>
<td class="nump">$ 286,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesNotGuaranteed', window );">Not guaranteed</a></td>
<td class="nump">1,162,515<span></span>
</td>
<td class="nump">1,517,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesGross', window );">Guaranteed and not guaranteed</a></td>
<td class="nump">$ 1,396,942<span></span>
</td>
<td class="nump">$ 1,803,901<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesExpectedLossRate', window );">Expected loss rate</a></td>
<td class="nump">0.09%<span></span>
</td>
<td class="nump">0.07%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances', window );">Allowances for doubtful accounts</a></td>
<td class="num">$ (1,294)<span></span>
</td>
<td class="num">$ (1,396)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts', window );">Nominative allowances for doubtful accounts</a></td>
<td class="num">(47,488)<span></span>
</td>
<td class="num">(65,139)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Net Value</a></td>
<td class="nump">1,348,160<span></span>
</td>
<td class="nump">1,737,366<span></span>
</td>
<td class="nump">$ 1,214,060<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_CurrentTradeReceivablesNotDueMember', window );">Current trade receivables, not due [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesGuaranteed', window );">Guaranteed</a></td>
<td class="nump">205,764<span></span>
</td>
<td class="nump">254,743<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesNotGuaranteed', window );">Not guaranteed</a></td>
<td class="nump">948,449<span></span>
</td>
<td class="nump">1,180,788<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesGross', window );">Guaranteed and not guaranteed</a></td>
<td class="nump">$ 1,154,213<span></span>
</td>
<td class="nump">$ 1,435,531<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesExpectedLossRate', window );">Expected loss rate</a></td>
<td class="nump">0.04%<span></span>
</td>
<td class="nump">0.04%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances', window );">Allowances for doubtful accounts</a></td>
<td class="num">$ (529)<span></span>
</td>
<td class="num">$ (564)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts', window );">Nominative allowances for doubtful accounts</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Net Value</a></td>
<td class="nump">1,153,684<span></span>
</td>
<td class="nump">1,434,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_CurrentTradeReceivablesPastDueLessThan180DaysMember', window );">Current trade receivables, past due, less than 180 days [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesGuaranteed', window );">Guaranteed</a></td>
<td class="nump">26,899<span></span>
</td>
<td class="nump">30,884<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesNotGuaranteed', window );">Not guaranteed</a></td>
<td class="nump">157,960<span></span>
</td>
<td class="nump">260,675<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesGross', window );">Guaranteed and not guaranteed</a></td>
<td class="nump">$ 184,859<span></span>
</td>
<td class="nump">$ 291,559<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesExpectedLossRate', window );">Expected loss rate</a></td>
<td class="nump">0.24%<span></span>
</td>
<td class="nump">0.17%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances', window );">Allowances for doubtful accounts</a></td>
<td class="num">$ (455)<span></span>
</td>
<td class="num">$ (510)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts', window );">Nominative allowances for doubtful accounts</a></td>
<td class="num">(1,922)<span></span>
</td>
<td class="num">(1,436)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Net Value</a></td>
<td class="nump">182,482<span></span>
</td>
<td class="nump">289,613<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember', window );">Current trade receivables, past due, greater than 180 days [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesGuaranteed', window );">Guaranteed</a></td>
<td class="nump">1,764<span></span>
</td>
<td class="nump">623<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesNotGuaranteed', window );">Not guaranteed</a></td>
<td class="nump">56,106<span></span>
</td>
<td class="nump">76,188<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesGross', window );">Guaranteed and not guaranteed</a></td>
<td class="nump">$ 57,870<span></span>
</td>
<td class="nump">$ 76,811<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesExpectedLossRate', window );">Expected loss rate</a></td>
<td class="nump">0.57%<span></span>
</td>
<td class="nump">0.43%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances', window );">Allowances for doubtful accounts</a></td>
<td class="num">$ (310)<span></span>
</td>
<td class="num">$ (322)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts', window );">Nominative allowances for doubtful accounts</a></td>
<td class="num">(45,566)<span></span>
</td>
<td class="num">(63,703)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Net Value</a></td>
<td class="nump">$ 11,994<span></span>
</td>
<td class="nump">$ 12,786<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of allowance for doubtful accounts, net of nominative allowances.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_AllowanceForDoubfulAccountsNetOfNominativeAllowances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentTradeReceivablesExpectedLossRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected loss rate of current trade receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentTradeReceivablesExpectedLossRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentTradeReceivablesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross amount of current trade receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentTradeReceivablesGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentTradeReceivablesGuaranteed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount current trade receivables that are guaranteed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentTradeReceivablesGuaranteed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of nominative allowances for doubtful accounts from current trade receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentTradeReceivablesNominativeAllowancesForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentTradeReceivablesNotGuaranteed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of current trade receivables that are not guaranteed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentTradeReceivablesNotGuaranteed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_CurrentTradeReceivablesNotDueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_CurrentTradeReceivablesNotDueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_CurrentTradeReceivablesPastDueLessThan180DaysMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_CurrentTradeReceivablesPastDueLessThan180DaysMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ts_CurrentTradeReceivablesPastDueGreaterThan180DaysMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>118
<FILENAME>0001171843-20-003101-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001171843-20-003101-xbrl.zip
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M6<3+&HASZ8<1__5&IYLA=S,? DRI%Y'/%J'VUZ6_6@?D@7BA^TA8E]TBN"*
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MG:U9MG0Z$[)LLU36U>-N^^+#T@E._?/AH9BK?+!3[\QU.(XIE?W]<\P>V>"
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MYE+-I%7&/>UYHZ T9C4.3'.B%XWF?LE@MVFEQDS*JC7=5$O.\0.!M8>L^MG
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ME.JFV-MU<YM)75%O1NI,KY0O77?: &IV"?N\5O(F\'" D])TTV9[Z@N2=N)
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MN.K]BJ@! _M#P]A8..W;*[@#V\K<MU+5O%+8L&IZ;<]D\T..3B*U08@TB_,
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MYX&%I :NG#:'[$M]4$*O$ZW(.V&KT[$Z'MBY=8B5TW)4R?7)L3%,4ZDM><2
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M'J(;V)5_'QK6$#Q$7A(TTO3I3GP3K>!LSD/D09&1:<WJTJSW UE3'B*/IHQ
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M0&M[.]4:V;DW%K0)R/:W4Y7+3GV\-RY4 >=^;J>Z2]E9H3'TT69?.AKFC6:
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M:40J@"<I/3^ A3+Z \!$"IC[ > 6O@*+Q7-"?E<#W)CGPYOI\IPVF"B?(RY
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M)"XGFM?V?$[6\,XLRQ>S44'=Y&4(8#FR!(G, YGL,U.FTNS7,)>YE@'$"TY
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MN+R%V%(6 0WQ 5[2AV<%!B8J_\P%$_FHFY=_EOD,2F833]C"]V<IA*"&PED
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M@,0G,PD>/6/?05CA93BG%GXE5Z[8@/($BX!3H8G89$+KFC*4=\_#E>*&2+'
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MU#6+:R5R5D9:;Z.?AP.5:FF'K.+ZC-MYZ'I6N["001U$V4034T7 /$"VJ7H
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M*GB]52!46Q^<UQ30,5Z/YDB?>XJE01.ZT7>"&R3$)7FG94;<*(E TJ.HTO,
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M4WB(")G+LY BF7IT0"G $9<(]* *D--9'E)[#V7=#U+?/-*YO@]#JF#MR51
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M3]J8^2A9>6E8<IB0=M?N#DQ7TBFQ9-#NVIW.B^NW>#^9<"?&ZXZ-@[EJOT>
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M4+I=DZY#A\-&:XVA<-MF=V$-.10P"KB5 KZP3>KT&JTT=L3FFN*#0PN,;4@
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M98YITQY8.Z-AFVN$-AHF?%KQ4ECW 6%!6! 6A.648&F'6[6(*66SA'F!B*U
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M^SAYQS(W")E_&TWB9"JR%J['<9Y]2N(9G"V?/X5NE%U'_D]_Y,%LRJ+LIZ^
M8N1F<?+\]__\#T+^MN6Y\#-,*XARYG^$)Q7Y$)4_)OS7,,O/; *R^5\X.8XN
M#1/^4_QH6I>V^88$_@]OO,N^\>;O4M*<N-,@A ^S8,I2$K$GDL13-UK#?,$/
M@17Q6!B61]P?WAAOQ+_3F>O-_[TJ6CA0A^XLA4?-?_J>3(/HLOC?I\#/'KXC
M \.8??V^<MY^Y<@N<3)OE5<)I@X(13^\L1?P5#GK 5-8(L=UB:'\F[D)OTIF
M_HJ_H8Z/Y 0 WU>1S(4B,118@P/5'BB9>(1R]0SM;S:OV<_LD8%*V1%@7#[!
MW/( &7%N?T2-G6[^T-YK3]61C3Z4[9^G<.IMC%?_1Q*G*9DE\23(]EC.&$Q5
MBX ]VANUI)]R&V.J_B]/LV#RO)VU'U@&@'KQ=$>)#3PTM.K0 "JWU^T# ]K;
M:/ZUR?S;0O$;-WU8*T&-UN$>FFI(AY:D-_[$K<,JE^"PB09B4QRT##0/7]_-
M+]XQ+V%NRMZ2VZCX"6 D'K"VSMZD=)O3&@FE-^,#%&%?-NS]8"B.EM5]J" .
M%Z#VO/T&!M6>,D,7OZ;,!\:^Y=Z+QX![0L?/)"X\Z]$]<;TL> RR  M,5Y:T
M38V>Y,XB-\<6%640?_2IPH6+?,Z0('ID*;)B6]Z!9-;UZ>B.4G6021"YD8>\
MV&8 .+0O&Y>D0%V@VZ6;;A>-UYS7&?FG&^5N\DS,D8BF[H@7YD,<77IYD@ <
MQ$U3EN$%W1Z:9SB@MNRN=.HN&$D2H0=&<9#32)Z"Y^J$V<[:+S$@6W*65SOP
MR[)HA ]L1N9%87E5A)0\L-"'U\'$W! O]#ISH>?T6YXL<^2C:-4$" -W'(1X
MOGB1,V.-#G4O=D&#[K_)'T(3W.GK*C*;.LZ)7+?4RFG==WNOL!7W^-/<XX=T
MZ+0Y,:U&F/]KX?B[8_FYDSGR#PO?3TW'L@?]82M"^&6$,G63^R"ZS.+9=T1\
MI_Q@+NOBL\T^L%=4&3QSA\/%>+.;<^77+(O33*D#8C?G^8\+#G#%ER7!..<,
MVD;0%PPE+\99(BJ@),8K^T@9'KEI:90C5O'X\L,@@DD"/$80R0,\IT_$,VA"
M\7<?HY>#.E0VY*.7Q2+?P1 >P1$EU;GS6)6;>#ISHV<!SG]_Y=_Y/B4_QFXB
M2N^]"Q(&CTA2XL[XW2'L4/R/9NXS3^?AWW C>&4&KYR"< LQ\X\53> OQI6Y
M4J.:@/XAZ8.;,'*A[AU6?^T=U^_NWE("N["8^-=@ZF8L?%8VKQ<MWD EA"&L
M"0K0!@"@.@9\ *&)E!=K(P6>@NR!RY!]O5R(SX>I*I3A<@BP1XHA7*VIC T_
M=V#=JUZMO[C/I+_70KWC*^$!=AY67:(@3S>*<K O%S(-(K%PW2F8P)G:!;K:
M*%C/ EVM=KU8H%?DRW)2B^D'D1?F?JFJUI33+&&/09RGL)CUK;6RG,V*$#6*
MX(@ZLA#!V 7;SF.TG!V_)LYBA1.TAOHGZ&S;!)[@4*::*GRI6U:I#E=H<EO2
MY/X^8?>@B>D6&O,!!5KVB1>\=:-B)94R5OYF 07 L/I2P2.^AF--.W!ON.)0
MF^_ 5ZHW"<7&X>;=K L[6\'V(>YLG=[9"BD.<&?#G6W'4K>+M=ZZG6UPC)UM
M>*([6P=/5P4O![@'=7H/*J38QST(]Z =BK=7K/76[4']8^Q!@Q;N07)W3^O7
M1[NNFWZ:3)B7?9S</+C1/4MOH_=Q H>HZ*>OGOCD,TSST$I2O5;<0K4APOHZ
M#$M=E)*?8U!'WY*+NX<XR=X66R%L "Z_[@$U_.O5W17Q^1"3?0(U#KBJ7H1;
M]VMFN1=3%*/?53!*X>@5UYZ2BG,I FF\9P*K02P>$.+[//+XU1S8-E[YZSJS
M5AA";S54N6"T?;[UZ[:W,SNA*6CW+NZN$-H&,Q\&AG1X_75RS[@YQ\@GEL:P
M_H2R?">4Y7:PVIX#836> W$Q<NC07#DH*9S[CMZG*(H-F?!].I1M?EA?%D<.
M7/XI3Z37[:$,44>+IJE@V-0Q]3:V/V=X!P[MF9*U&8^TO-3E(=^YN1^0Z\0=
M!VY$/@?/8*/RA4=PY6U:>0/JR'8(QY6GISE8W>D='K"[KQ-DIT-E.@OC9\9^
M9!&;!%F=,%X'PWC;&\;[2G81__%G%\YI(/0T2\G%XAH@B,@-?,2])3QA(25N
M<2%R!^@#\I3 &8<E/,41/G=] (W' +M9\,@(^SIC4<K2K?M.O5A@B0NJY105
M^N#V)\5VU\Z&O)+##QLR#ZOG>S/W6V<'>A,D2[JWU,%PJ)BWWY)>N!6'["X/
M[(Y=7#\WT(>'/CR$5KIF;H>TEZ(3@)H[GBT7.@W6+U3!+DWO;M 1[CC2;KU_
MN7!,H=Q^=).@-"'3V O :DR9EX.1^ES8G8>X$L_5%6M2:]"C/=FVQ%IGCU*I
M2,4QZ&!HHU1:)16SUZ-V3]<=4AO*&&QVJS)XE0@\X@D*TPCKKJP6%^_1OBUY
MF:5MCJ>/LD,MRT&4-=>NY:V4&N)R>^Z-WK$)@.0+7_6\\@#A+FS4<I76R+3?
MES1(</W5*)YDF;B7Z.=RSY TXXZMY>H6<&=1RK79N+R:(Y?$+[5=^1$JNA?D
M@-W$P"6HO=PEM4=*:Z$CRAM1-OI*&U0<UYS;_P9L&857QBB0A&4\H#:.A <Q
MY)D)&4NF/&>-?_[(> .4^\2=;H=*Z7WKN=:)M"QJVK7JW>K :.U)6 VTGI1-
M:CN2QP:4<E>E#/M,3]8O>BHU7Q7>1"N]U%:W*%YYN 8'N^W IF >ZN5K%@P4
MVEQHED-'_4-#^%%H1Q&:!1OSX.#>=?7!:/EIX7T2\TS_94WC>2?$>)>K!,\%
MS47.H[&( D8!MU+ %\-F3WS-)7RN*7B>87&XBI=[7!TS!GLR*#YTG "@2)YC
M'7Y. % DC])#F$&'HUI[94,-8<I_K.38'5C'<=,;:SR)U[Z;Q&$8/XF2=R)#
M+WV(GU)1,>V>\:N<V0/?]U<:B_"D)_X%5EX+I=_IG=)2H"W-(7S-%#LP]6MG
MMHM(G=U8=XIGJ24[ZDII&^UK(]LW8V/'\VK#5SO%;?.H&DS2JHV.A@RN(TKL
M]<PYE%B[)/9Z0MZ1)';D'"[Q]7GI,G<[2)AE\M(J=&C/D#R+8MY/4Q*Q=-4J
M0XD<V.G8.MTL+/&57]C7P(NE?=8G'\GH4'N X:+:079&F&*E'6335EJ0KU49
M5N(KO]Y=H[P7$9 <.EQ4ND&VU98R1) W.:Q'LA>[Q]9<>]E:MS!E^1KV)R]F
MB]<YP+6D'63<%?2#; R5EI9NGZGUF1<]#79XV,Y-YB8='AQ C@M+'F0'S2W]
M(#?E\FC4W/HQ<?\,0I1S)8BHCZXM_<$V0TSJU\_DID[AQ[*W;N#/IV,TN*I"
M-WJHOO2#C/ZM!D V3M&_=>-&KH\::R'GP0"7DOZE9..FH!GDD=K&7NTSMFXC
M/XY8BM;64N9]LZ%R3N<+L>/@[8=NB(V.%"7;R\[ZISMS(Q3RHEN8@1: 9HCM
M44,6P/E"W#,[XH-751%%_-W'#"#8/E<L=*+F=MK"RG@G+F23PII$(9^ZD$VS
M)4+&TB>[D<8"!)4-R ;E)&G=G ":R!QUS+'HJ"]YG7X":")SU#''I'W9_-;6
M5CRI_ORW;X-)DEY.\C#\[EV0>F&<Y@G[.)G7F_^Q;+SQTU?>9\/-XN3Y[__Y
M'X3\;<N?15F0/:>?V2Q.Q,OOV/V412M_+_H4P:P^LPD(XG]YJ8=+PX3_%#^:
MUJ5MOB&!_\.;U'0L>] ;OOF[E/@F[C0(X<,LF+*41.R))#R\=,LNSV6U3S&3
M-6$5156*#/GJ!W.!%Y\=5.<$GKG)B"D?9+S93;SR:Y;%N2;/_A7>*;4OMY%O
M?0HU!ELR#;XVB9.IJ'6ZZUV[%LJ^I7,.1'=CQ9WJSWL.9E595)NG7Z=D6G2-
M8#X,BW><%56$;F^OR/4G(D;RWU]A^=G?DQLJ*@O-X;Q=PDF"5!25A<4.CW%3
M4A0NJE5[:/N8E=18VO'XPX2VU&SSDKK1/<!9*+FM6E;9J"^NPY"X4UY?*.6"
M!(47\J*^O![4KU=W5\3G%9:2].VFMR_76:>*.!U@[/R;N0EAD0\T?<<\-AVS
MA-@F)5)EA33;6MLKP"BT%"I-P;_DXUWM3CMG8+8/X5>\S8AP;81O8E''G.M:
MF4+FB'AMQ-_M6SR^ 1@:+ K5&VZJN")Q/)-R1M^^_WQ'+LD'EI$[-]REG7?5
M?]DP&D6.\,I;ZU?Z4E"BQ] P$/6A3?+Y3FW#%]G5>G;U+,D;FK:AB]QJ/;<&
MU!HANY!=>M@EV2_EN-@VU^9:E0WYBQNY]TRXZ!X#]@3FY-(?%41>/&7;L6YP
MR1QUG;1^;0R=6K>0#<&(=&D)70:ZXNV0+2?(EI$E&5V-=$&ZZ.MK=WSC[(#\
MO2UC?!=,)BQAD<?XY9L7IQF_>$MW^_ V7AF?<,K!A2D;(2,WP[7^>.<+;4/I
M_><+,'!7:7(]<G??_:7N])H[R;^R0XCX#)_-$N8%1?B,&_D\=@-&\N<R/ FY
M(98=+CH]P"K-_D-@D;&X36@[4Z1%:&8(>-U3<L\BEKAAL6OXTR#B[1]AWWAD
MA'V=L2C%,P<N1_VY@7CBP!VZD\!V9",Y_+PAY1=]L;O$/%1U[::07,QWE+>4
M1"S; RU,O:Y%4LDZ0IA;WU4!Z_*JHX!;(F!<P2<NX):LX*,<6"7N[O8)>,<(
MI<[="@]DVSQA$ '2A=>F1K:T9IZM9\O0EKQL1;H@74XY0JGFI?/[('(C+W##
ME_Z</=TY)^\3W%%R ]W:B'0GD6ZJB\+Y(MR1FP0=)_QJ[9G;8F\9LTF<,,+^
MR(/LF=\I,#>)X$PO:M!$<03#B<1.ZV:,URV8SMPH8*FXQRZWI\S]BNQ"37FV
M2&]8=DI/(UJ/.IH3X@X-OVT6!A17K9VQRR<NJ</^3WONCGM@A]<YC6X">'&'
MDD9)MUO2LKUE4<)=E3!>PBNXA%\YOQ]P%$<6XXZ$DCXU2>-MYG'.SB-;5\\E
MO/P^0;K@Y?=FJ#8.]L:=\=\7B7)^D.7)7BZ6]??47"\R8];R=/45*.QA'9]?
M@T"@R.87Q+5<ZGIQ6%4\RH7XVN,;GX_NU>D<FDW83KA0_,>ZCE$ UO&<)3+C
M?J>D,@MN/#OHZ,CVASXZ$"BRN:T@&;^/MD+G-PNGA[9"F^=SEK9"^8^-;4O)
MBYEKZBRX!.&,N^0-]_4P=;W?%7;)TXTP=LG3C3!VR<,N><T<N[%+'CMVQYKU
M<72B&]  >"7I%6@;OLBNUK.K9TF6XVD;NLBMUG-K0/N.9*IEV_!%=K6>7=@E
M3XL-B5WR3B#T:2#;DP,CY9 NV?=#R9K5R!9D"RB7(395;,\\6T^7TPW#Q2YY
MNYZD/M+BX+!,K/<AJ]H18-T<QMI3[=AOZDX/N^9UD!L7LAED<A/$WC%-K[KS
M!1BIVW'JMN*T<4@')"W]]3!?OJX^:+2"B[RZ0,'6%"RVQSEQ >LJ8H ";HF
M3Z3T4O-WS]CTJ*M._@&VL6G1/%M/EQ&VR&K//%O/EN$ HUG:,\_6TP4OG%^W
M&K'_D229]BU+B YN1+KM2-MXS=^.+>AD3OC8] C5(R*M?IYKRT[I:43K44>O
M_\ X-(RJ61A07+6VPQ,Y<6'_HTY?Y^R['^#%'4H:)=UN29LCO(4_<1'C+?RA
MM_#8]0CW(90T2AJO,]MPG6E2T\"$Z_;,L_6$P?OO]6&_0&WCN+$%DK8+QYYD
M4/O1@4"1S4767H%A67O%BU/A74H+X$+QGT!7@X:\)3*#Q;9'VCG8[TG&@Q\=
M"!39PH'>7HGA#J%V=?8/K3S03KA0_"=@()3_P+9'Y+AMCP;[.IBZWL $VQ[I
M1AC;'NE&&-L>8=NC9KSQV/:(';L%P?HX.M'>H4='?6Q-@^S2Y/26;;3=-G21
M6ZWGED.M(;8]0G9I<KQ*UL+ OD?[&9'8]^@$0I],$PL+M6>>K:=+;XAL:<T\
M6\\6LX]AN.V99^OITEZRM"(ING2+8M\C";VCM/(_EOS8 #$"K)O#AT9X(<22
M$%\H)?%:P7_L=]1%3AP:QB_'B?,%%ML=(7.["6Q'2A/J.&/HZV9T\JPQ\0BB
M6^$=FB*)"F\WL)(^7F3NB>\HAQ] #FF:%_,@UK4KQ$69]73/.NM8:*4F21OM
MEH>5=,ZVW!<*&%<P"KC+*_AX16JP@]X97Q=;(VQRU9YYMIXNO?:&%R!;6L<6
MV\:XR/;,L_5T:>].=.1;:&R;)\F@?>O:HO<5D6X[TA>R.8.JKV@V*$ZE>ZK6
M#;L-+H,6;D0ZO 38A0^U+2*M?IZH?;><*F5S48\, XIKGU-="S=+S5?WV'JO
MK5="^VX">/F'DD9)MUO2IBD9Z8B]CL[.\8RM:_1$!6!'/]S>4-(H:=SEVK#+
M]2RL.].>>;:>+G@;OQFJC8/%)GZZ:.@X1AT'8H- H,AJIKXU  ,V:5&\.&O)
MNG5PH?A/H$=/\[X2F7%C/S_]VFA4JV,8F@K-BTRV<"[:"IW?+/H&-OQM\WS.
MTE8H_]%8/[^-7EIE+_J2N%'J>J+'$QFS[(DQ7GGHGI>73REY>@B\!_+$>&1F
M&$R#2,27B JH\W@3^$M*7/C"U 7Y/I.$A>)+65R41Q5U4KW$G5'"ZQC=/U.2
MYLDLS%.2N$_P5QE(W V+2$Y1C"(EDR2>$OB1B YK\_'P1_(/16.[Q8>3.'F)
MQJ&$^XO=I[M0/OBYSHIG3,Q4V:-70KW)- A#;BZ"B%0Y]0QSI 45>/!0%RR\
MW^/JH!.6SIC'BV:%SU>ZUZR6E?K 5R%?:(HPBN)5YI0+D?B5^C!SC9#%W%69
ML!D<0$0/T;F*$)/^[Z^<)!SC1Q;E95 V7ZGPC2![KGXGG7^)P#$*EC9/ Z\C
MCH:0%\IM(S)KA7.6\RK:<\RQF+YHV[%99?)OSJM+W\>QGW*GN+_4C23C6OB^
M.I0K<L<8_%<H<7)[>T6NK\@-_[10D+<1J,BI4-2=)/XM''Y]/Q"S*Q&"@W .
MY /@8!_R@A"P<\?Q(Z,ETB]D!?^,6#87D)L$*5MN,<%T!OL?QWN21P)#8+J7
M)_QO>8(!O'6R2*8#+9*'&24^@X<GK)IZP&F?PE89AOS_^9.++_,G!]$C2S,A
M#3Z6W=D,WH,;W1<OYD]Y=,.\< &4#XJR.!'?];PXX4U\.2J",_".H! T?!%6
M,\P$V 5C!;7@-R[[_[J\).\#%OK?D4_ _.^!D'_D7"#P3-LAEY>%.;5E*)=9
M/!/#^7[^P?R^J'*8>Z$&ZJH1&;VZ8E>*/_L'B^_!O'G@+B/X[F*QK5FO+X:V
M-&5;VI6Y',T">',;\!<N)WVY)@-.VSA/@<K"]OOUZNZ*^'R02;HCDTSF91M$
M\/H)9WL#5<&PVK>/1>]4J1OF#[![/I#K*>RSGKL=BIW#JW]YNN]]\^$PU;UT
M;Y'H[N(<1==-T?V4)V"DH<RZ)+-? M^'/?$G%ZP:,6;^7W(]P=77-4E>IX$+
M]I\73 (/)=<ER?W*CP^Q)TXH%W_=8;JA\-HGO"_"80.GS"R(<GY&+/T4<.Q$
M079/D' 6+64)B[']HFQ'#HKXJW\S-R$L\@&W=\QCTS%+B&U2PKV1TG=*A]^C
M::]A<,Q!'7\$" O"@K @+ @+PG*^L&C+;BEO$WJ];_:X$OK LM<:XY;/-=<?
M*XW9]D?4D.E\OJ\]5'V!(MJS1G1D2G;&U#EY%,HBTI3:(Y-:0\F$!11*$T(9
MP)%P.)1,\$*1-+1.AA8U!Y+IGRB41G84QZ1#0S*[ 472A$@DXYE1&(WL(]0:
M]:CA2&:3H%!.<X6TI_MOX>AWTY1EV,ZWLDR'0X>:UJ$9_6?@8% #M$4M:T"-
M'K9/U@\T6,N#P:%IC BT)- C9TA[%O)9?Y(F[?>5-IQ F-=A'@Y&=-1'I:';
ME]&CPYY%1R-)3RPBC<W8=UKUB>OS3""/!8\\S0--^^7&85IT>'"&/ZXS68TV
MZ%-S@/NS]HUC1&T+=PW=;FUS1'N&9%UVA/G@LY-!>PZ2^31,H/,%V*1V;TC-
M/GH/3X/)[?'6?^(YA4GV3 G@%64B<9_W+ISQ)']LL?LBN&DP,*DSP%6H7=V9
MUHA:J.ZT.^/,/AV@L:_]JL3IT>'!]8(19EFU80YHWT"83\-&.E^ ^]2 <ZMA
M#A#HDV#RD5WWM1ITG#P'S/Z(VB.T-+7OS38=C?"21#/,CD.!T(BR7I1[U!F@
MF:D]8M*P$>33L(#.%V#;,:@YP."]T^!Q>_SV:GKJG#POK $<IGMXS:[;NC<<
M:J/G3;N[WJ(] X^JNJU[BSJ8IZ/=,+*IU4,/YVG81><+L&./0%O@#>II\+@I
M3_T)ROF8@SK^"! 6A 5A05@0%H3E?&'I1KGL(4H328ZP("P("\*"L" L787E
M.'&E>Y;([H[$0D5)8GW3I [6@] -M$E[?0L+O340B&?UZ,#&PAO:^>PX(SJ2
MK=*.0!^LH0V#VB:JC=.XLCM?@ >T[PRI@PKC1)C<GN!2+.&\>;V-!B;L'!CL
MH3MHE_:&/*I&L@\' GVXR3DR;=A!\*RJ.TIL.*0##$/7#7-O:%$'2SCKAGEH
M.  SFIVZM3.8<HY)+<R:1@,?2SCK->U')C6Q"(1VPWYHT*&!YR?=,)L.M0P\
M/>GV(P]M:F-5-]TP]_MT:&*_D-,P@<X78),.[ &U^^@$. TFM\=;CR6<]XG.
M&3HC:F!E8?WJSK1M:IKHC-/MC..- ; :F6Z8>8_E'FH-W5K#&E$'Z]Z>B(ET
MO@#WP<2PZ0@K(IT(D[&"<XLY8([ZU,*"3=IUVI#V#33G==]$#6BOCP:0]@@S
M VN/Z0;9H::-WL[3,(#.%V"[-Z(];#M\(CQNC]<>"SA+\:+7,^G P.M?W6<H
M8T@=C&70[JRWZ #;L^@G,[4QIT'[&<J@([3O3\0N.E^ ^_T>M1UT!IP&C[&
M\\%R/N:@CC\"A 5A05@0%H0%83E?6+I1P'F TD22(RP("\*"L" L"$M78<$"
MSBWT5%JTYYCH$F[@FHZ:/8O_%X'6'(C7<^A@@'S6G2)F#VC/QGMGW?K9-.D
MK_=UPXP7S]K#HZWAD#H&%B+7;6>8=-A4#;WVQ)=B#><M-9PMASJ8+:;_%#4:
M -!8NU(_T(9A\4X "+3F1)"120T+^=Q P+^#I;)UP]SO@U6$Q<BTVYX]:H_
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MHU***Z H5#?KXDH)MR&H,$3$M!_<QV+B\:Q0+;'(W"[-!S\O-4ZI0O@?"VO
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M:/,[3H3H[2O9OSNP?.6A_W5Y2=X'+/2_(Y_<>T#A3H0+>?Q)UHA<7A9:5=\
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M?!0^"A^%C\(_#^%W[A;VO:C(PLC/S$WA?Y<!8'@IVPY^6[9!S3X>:]H\'Z0
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MMN*8A!9KJQ<P HP MU!U(,C(8@3X+ !N4$UT(R/F2^+ZC"3,8\&C.P[W+Z^
M-P5J70)T8 ^H7:^_>>M 0Q(@"9 $>&&,PD?AH_!1^%V>#PH?A7\>PN]<&LSG
MY3&6W(CHH@\WY.*O;Y'51V6U;0SH8(31KVV>C^X3K3VBO8%D _B.0(84V,_U
M.J0#\] RV.U$#!G08>L&A8_"1^$W(WRG5JN_UJ&%TM]WY^_+%J+LR-&V9OI+
M$3]8X]95)1WU<J_14\9P2,UAK5(+FL X^<"*>@<\A+F)0Q2BK-E6U;AM*[4
MM)H7K92,1A!.?C4<;+PCPDT8R%VXU'DY1JFJ[VM&,KF(XNAR4;A[[VN=%X+
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M@5F(4G*GO<@>8+&XZM1M%&<K\ZDLXA?KF%RDN?? UY_'DLP-UG"GXA?!)/!
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M-U3/?"8!. ?/?SB@0<A<1I(Y.NA?9$("?I9^I\%;;N%QW9#%++($?U[1*(Z
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MX^9$[:&!LQ1?&(:*+06N?ZOVH10;FY#+4'FP7L,6C&>IGIFQ#C4-E?M0"G;
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M.K?9)A%]],(T]I]1&D34#4<!>X*HJT=^&,<@W.:XPS1V+:8#Z;896NC8>QP
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M76<^7]S_BLZ^WO4V.!=-G]ZFU#_E4%MP_ ^T;Z#'E@FQ0 V@!E #J'%BFN/
M14KW9!P3=)8['M,K62B8@8*9N@#6#:C/K[JDU0&$04JT&F"]*ZF;#ZV0RVN"
M<.<-:.2"=H9S=T" M;K.W>E"[)3:R0,0!BE1OW8V2VWE<7AW>>XZ#J@,QZBN
M8Z2 HP8\#  #P$T0$@?PA+,$J# 8DCX0'$X4  P  \  \,D ?.#;X(O0\^D
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M*CB!=<I,O[1-[.A[^;NM A28YU"YNT< *#!/F2G&O!V1O9>U7S&@M>9!'5>
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M;>4Q%P*N,J98O7K.''FU!N\<SRT_7K7W0)+9WR\P$!GS0@<T"&EI1SH(DP5
MZ3>7BD50WN8H?*21J!F;LB[_A3=M1UX1K5O(0'?IF'V5_2%3D#0K2T3#Z9'T
M J82QUE/TYE4Q[Q:I3#W&:YD-(KH2)0'9I063$G$D *,?(_T<ZL",]H\TB#-
M+05VO(=>@IC29>HC%A8*U\&^'S[%*TL+9S[9<1<$KC1QVU6--F\I5U=_UDR
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MISB/$<T:KO"N64Q8>[&PW?A710N?U$^R;!1Q,IE]0@N=DY]R=DZ99<KY=<3
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M$R(O;H6O 3H#C&S  9R-33KD\NKVHK>D1N9[D_S.ZP797_&?3S$#%]0-Q+-
MM (.<.\A#^1][^-]#YVC^]O>Y?7-K^@*?>K=_OOJGO]<Z)HK]/7F^LO5W=UG
MIE@^7I[&U<B7,$K2$3FYCE?_#'U1!;AOK_,3E1*  ^!P4H[)_=5-[_;Z#OW2
M8^[']?WO^&3Z\$+!'S@:("H!!W TMM$3%Y]O;JXN>)4XTQF_G8*>N*%\SAP?
M]U>[:#STUB_I(_7#23:_<DP",LK&/XOYIQX[FG&N1_@ 5#%9-R6BM&-"HZW&
MZH#@ !P AU/U/3Y<W_1NQ+7'W=7M;]<75W<GD\'[-4I'*3FYUKH?/#XNFP_#
M=B%.!3(2< "G8Y."^/7CYU_FM</91>^F=]E[>S*QJE,M!YSKE MEXR G 0?P
M+?95'5\[W+=X.]_O\!0TR$G>=H#Z +$).("[L;?.^/=;WGGD)/1$P"@V0/]F
M8G,0CD]-91394WE4:GE>!Z@1$)^  W@A>VJ4E6-H5TV%ZI_&5*C3O 4!;0-2
M%G!HG+9II]-R??/;U=W]IZN;>^:PW'Q\BW[I_'82=R,GG)_U0H& 0 #!"*U+
MJFU=TGI79%Y/W'7^'S*>O">CB#S2]U''/PF%\3']1L?],(U&H"].7D* O@ <
MP*%X55'\[_7]_[VZ_=B[N42]7T^R.\G=DY?\-_,S0&V F !Q"3C K<=F#7+_
M]9?/%^RG7Z[X[?EI%'1<,-J-H;/NJRT306B \ 0<&N][+,,GH5EV5QQ,8=RA
MRRO4N[BZ_<Q_^'3U_UU??,8UU /NM_*RI"C]YKEA?6>A&9MN5E>2_/?M%@\
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MPOI  C*7K+]U"YNZI+-:-4BUZO=RPJ"E1E3+.Q6O/+Q\-L*&K6-S9^^K7C"
M:#G1+-W JGXXHC7<^NCY?OA$ I>*O(^PS\0<C5W*/SB+*44W84*1IJ,S[^U;
M4%EUJ:PS3;6PI4IR;3DH 7EK)*_B8,N1]'\J(F]]L?1ULF=WPG7,#=O?71>6
M\;+2F72?UU>@3[6NB6U;V8=U6P4H,$^)S&-J!M8-R?#:00"5R<^>_WE]GM^J
M3+U-N7W_"KT@^8U]B?UKC^P^VU @NV_AXEDRNT^W.\XV=0&5I?=IRW;!JV=E
M4XK^#COIC2*:S9=,0M1//7^ 2%%&RFN $.?.A <M_Y?&";KS^OQN;M-2=TH0
M%/^K*1W+G![N+4Y[CD/^H1<,*(=:*5(X*TO[7_?";4@1A-&8^.)[GX.R\IK1
M!]J/4L)$BHD1%QX+4JW(-A?Y5XS.3!J%B 2(3'GAR4L>T)?>9W1'V0F,V8LV
MLP?[9=8PE:+/%_>_3KNGBF#W T5W:31*$T0B2O "(V%TF\:QQU[^@3(50'BM
M06>:#I\EWI.JLKV]/$.[6&7>:@.CIP>/B;_%_8=/02S^*J)CX@6B4**<99GJ
M8KD#NA=O&:5^IA7(A,'Y2/Q8I..'O/$B<AD#,A&>Z8R!QV%C<)%'BOJ4,DKZ
M#.G!,_/R$[96.NB(9PI:B=VY#XC3GS$QOVP?</I%]*_4BRCG V]:#L%3\4O:
MY7?:HBG)%(#OLV5COA*^LB!;A]@$9\8@R.?:%B4H+N&Z)WDN<5&ZHF!%65Q7
MPJ#LH,NL,)(3?,+^/AS@*5=R+1UY_90#)VCS3:#H/Y<&E>ITNJNP*AB5O?,/
MZB9K2Q)DS)9U1L@FP^4C)?%>]0@6U"/L9+%H&C>&&V"QK+@PKZ(@X99_<!X.
MS].8"8,XIDE6F) -P>9<B'R/]#V?2;[-G;!VMT9$#<AZAML2S V6R!Y6R5ZK
M$2!S83H#&=''T$^YM'UM@3,ZMZ,Z8YV_OZ9T 9U:AOU'?K+X?R^\1\_G2^A'
MZ)U8SR_<[&.$E$\>.@(\KH,!,[%X&B):#09&7X3IN_!;42\YM5@6?G7%S*L)
MMZE."<7?*+,U?5Y5-DRCP..VQA)>0^^;L$%."9?[D,GALL/T.]T?KI:*%V$L
MSZ<-SF$[Y*(.OP* !6!I!RR5W5#F%J5AOU:2-!]*_3RA(K[#'8Y^&/Z)R)B]
M;(- A,*QI<@V3VK0Y2+:4,M7#TD4#>NF!C1I$$ULK.N26<E D9I2B&UL*)))
M#PVJ=]T[>7!> 5X';B2";(.49A<_,<,PYJ'O<=\+Q"T-E!+-5>=)IIR?HO58
M$L18T:'FN&*0SP'@ZG/J6E+2O5O_A'DE<I%&$0W<YZS:S1=* Y$!_Y.MPJ!'
MSQ5GY793D,_N/GID:RH[/5V 0257+1NL4IL^E%X:4*K;T1ODF4Q _VE3+*PY
MDB$;.&0[FV4&=FS), R@O'-'(ZQV >2JNYJHV#!J$AB'=S$N&4IA#)VBY@T&
M%2M*J>$H\"=FX!K8 &>M,C=8!6@K@K:+==GN-RUW)-;7(-_S,-201MLDFD'U
M>QT!96BXU%8"&_5V-@ 2'Z"#1<TTAN8DIR:>Z_,CQ0<29<1K6R@E32L2V95$
MKR!1+5._\O+2^5SORO<%.RB2P#$-X1A-,[%N5]5($ECF"%E&-;#J2%[6 <<
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MTCE_G]=7,;'&5O8J$F\5FL YI7&.ZAB,=21OFH\ 3F"=\EB'V?0K1BH?*YK
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MD%74FLA_NB SR]$Q2I5DI5N.>VLP-V)GC*)!2E$2HGX:,X#BF _)[GN!<-G
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MY6M@%"P]/BX"E]F#!4') FX23O%8^-^8VSPX58XK@0P4-+H&$:N**MK#+%D
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M^%=_Q(,:(D6!$G>=&?!RD:1 D='D(Y GGC\#]LB\>R?P/6+D)(_E$WA.'H7
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M';#X&RJ&LO%+K8YQ>LJ5A_T.TU^D;"!+M2CZTWPM>>U"R?"(B0&+2(V;)(P
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MT]%%W(>#+^-N+B>M85#FS(L: N78%"*@7C!\,B$/)TBCCK=ND6R"FC\2!"B
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MC'G^)USQV&8BY7$FTE#5MQ"+K>J<!=1179#J/RSPU1>8%*J@W$'J7&I,@0,
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MCCRSHCC LD!TWV)[',IKJ^AR1=. 98=SS>"A:2B++,<B8C&/ V!-X6'F1ER
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MP'=?TYUH6-N^N_@0('5+"4"L0NBB?RQC&\C+_'Q*]9LP6W?P7:PWC(K>B/E
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MT$.Q6^RO+N-AY>'3XX^*I"T4U5HHNOX3QW:8VK_7^)WI0N/?WUV]>WB7[,>
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MFH=/KH-S7&+,3$L\/1VY[W+7H<(STX[!-$M;6'I#KVUFV118AAPPRVSH@ U
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M9*;%&;3!%J/ASN"D]'87\L&R":<X-$.D;)X^I6"?G-&//!_BYD8!NCZ<I%$
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M7[YPG[A763Q3\+)%V:PY4ZWH4B$P8KD78FN )PLP6[)5K'9S/[8@1_;T9.Q
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M+-8(]>DE/#:2C0W2T(&8(9'D&J<<DO)@?E)=*8%I&7!8'D%FB[<@UJC1)LN
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M#C ^_RD&1"TJHI(JF<,BJF!$92/_8\>(5I#%G=D5>[*H6E,5Q3LT>WQ P7$
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M/L@D/F?98K8 36WT 9 J 4I3H[>=.PL1*<S=KF, 6L;HHX#LM!XQ "UC])N
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MJE?72Y*D#_HX=+?F*OI6U^E7P(9B&_O*JM:JR2T*MC$14R.6LM52-=&%?B#
M1>^OM\8B*<BOJF80ENWE1>S,O[QFJ!2_/#TBT]NTR^1RN?2]&<DU:64'TV_
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M(0S=9P]O$PP"@'KA>T]$T@DTK[%A)%Q?O_GECV_76NO.^8%R?_D"?\%3+;?
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M(I1$8;Q<%['B6G#PD$3P,)T@_3!8=UOG9Y8=^IG?M&GO_.Q@)VP6@IGSGW6
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M@YQJA/7X"?"(=5061U-GF9*Y)X\B#\YD/#44,A4-)'@N/E]3(A[@% ?!0CA
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M&.Z<'X(?QO%Y4<V+-?J*^F<*7=5YL4;?L2'9$&6YJV*-DB ?9\5ABIC1844
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M-K?WA#VW6' "5UA&:.F\X,',Z;^OLI!CXOP0'#(Q9*B5CN]R[[6JB:K1:J5
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M#8I-*C:'E'2CU*#4Y,KF@#)P%!L4FQPB*E\ZCE*#4M-[4[CCO-=O%U\NE-N
MO\\7 _\B-DTXV?8._,,TV"&C?57+*AFFPBQ8_V.#ITO@*I*-1$8I[@>!48I1
MBI' ?4Z$;5WCA\!7SA4T7AN.[(VP$O:H#_3I$KB2:".548S[06 48Q1C)/!
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M_/*?T2FW:/FKK^XXZ>&'NM3G,A0%G%:*+P9&1\E-Q/Z=<+/#>U*B1<@H%YA
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M T;N*GN;IXAIAH<_0!GDIC+@\:G_M'[@W@1P"?"'O>4F,2!7HCJ3H._839A
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MFTI!H5/&$B%&MO)3Z/0'ELIKE&1!T[B0F1/EU;$;S9ZROH:B'<=SXYCSDSD
M H,\'X DDC#;GBB@=P"KJD1W?*OGT!T4P-T"V5U$LQ7LB?;2:#4\N/[A$Y*#
M,^1+Z*Q&2^B:S\67(>+EE*OEE6ZY_O3EZJ/R-;E)/ IQ3&[N=G[;'>1%R5>!
M#0:IDG_TS-T82YS^>)4V*%W=ST?J6WRLN]>[-MYFP:\Z.(GNR]"-%IR.K[_^
MXWF1U+T+[09IWB%6B7(&@*^31@9W1#UHX=@M&W 7$Q!;LVQ<P*9)-AHBNY3S
M5Z>HNQN!AH-G3F/PB*@8*2UN<# CB$ [WW!C!JX2LG$]"91*ENW.,'K0OZ!@
M ^2O ]/PHCCK%9[/4O<M*FQ(])'A_N#VOE&WT+<99B\$@<-]<"".SVX#X1AF
M?:B$!RA*!*$M E"5W^_0)^-ZMO;P*33YC7.7,9\[LA!N448%DO]U]1AESN\A
M\**BY":S\N(@ZS.9^9[0 MT7=(- M$CW3$4O+-''Q WGP[J&3RYD55+5;M.U
M+X6:/G%;\ Z.P2=Q&"\]Z%ZWG"C5BQ%EC2KIW>^]%/UVZE7>AK:KS3Y7OM .
M4'3*7.0\214D7?)$=-R8TC!TLV;W*]V\:M<#WE9=R^9.9[@6S3X'W?4D5&(8
M-Z)%.ITT]C7M7 (M?(L7UI(A<Q;?!<O.?-'RXLG3Y5E;L2B?G;'63VKGA_+2
ME1P?YC#PI%Q_;0W\J@G3L07+BTU<R.F%S5E_FY:&1Q&+E[UW@$O0$1/Z,*8%
M@/P;BQ0  ),$/"]O0.BY*:P\[4G(EY8"/)_%68HV0(K$+"XK7_?JJT63(1T^
M&>87/H ^TVI\,38X$751A6+M%>8>GIZ2(F;3.]_ESL^P&[U_?7;>"P=\"[,+
M5,U;D!68O,8WJ,"&&QZJRYZ3WQ4F45J3W4VQ=0M7=C:3.)_E\\-RJD_9BSJ]
MZ[?=U4*#;@RB?K=D7)H4S [H=H;]L/NZWO[TO5.F^58Y[?R?7AFO=CYEY[SE
MO^2QLUW7O@R9RLXBS]EB?;<YACPU4I::[--2D_V2:[*74]K?O4R\Y]_8L9 #
MGJ&KWS4\K-M4-V<*U[RKJMS_)_1'W,;RK>NX?GZ-;0\=R#"A-/<:Y9AF;4Q(
MKF7Y;1S2K4OZY[HS?G3\&HUZR:_#CM45&%6@,L4/H#?Y!049L6-C5S^95?IP
M?136[W%JPI'DU=7UP8(?WP1A*/H8'1T7SM81"0<N?R/:U.1)R<S >S=:EJ<>
M$R-TJT^,..Q^2?54P:\Y.NY8O>).F0L%.KD)/WL9O=8RE.];-F.AP(/3Q_U,
MS)^]ZTDR?,H<]/RK;SR^.WB (K [%;RN0QY<OX!(JM%2NV_O=+\0+M@N1_H2
M+_X!6FEF@8XL\+&;%%O>M?O)I05 /$)Q@H3[E!DW]^^OQ=?5+H66)NE=MD*J
M??FBNB./[0^_R//MRPA?5B:W/3 ;W4&;0%%970 #UP\P)>IXZYCJM4FY6T+Y
MI-AW7?1"O/5%>T!(<HO6K<TMVC!W+!FBY,OW-]=4MYC=!VAR6C@),2@1;>>7
MXB()15/3P><<EM1,.T N@:4;B8(L-T/C%*4M8O49$#1Z2ELB046!Z&2W/AO,
MC]EMVLY@.;=Y>53XH1!0K;SWI9AW7X16W(G\Y?;.1TMHY"IM!8U!TEEKZV/9
M!&8?GE3L7)DB5U-X+_6B %X-/\-#LA)R10SC2,>=I&!'2+8NEL?XF4@"VE4
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MI6U3*U6,VF,P9=+)%-IHFR&STH@A6.-19A' 5"J^%'>ZO/I7XK5(PBB!V;G
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M,?-PI)%XS#Q@[/WXH[W&F*@3R6$0&(!OBR4C0W+\?(U;QUA\OT/%9QHQ+<E
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M-C%9;6+R\B:LG9L8FQ.MEDU\HJ[#;PDO@?LC_5H<!AZ7T=MK2.RP*)9AQ?_
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M W\\T:#5:/9PEP^S\)\<$^O1T_O>(1/+95IU(;Y')CWA\QY)O]/:DAB0Q3_
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MBU</4S+?0L^D26L.ZT1<!EGK:WH=2KD)X,1=I]H96>XR3A@$7[>Y#<<^<"R
MK>8:7,H>XX"Y?5PE^&9K-)>-L@S,>R>AD>A3K8]%FW=;<Q?MY!F[P?SY";Y
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M,2*-ULB :$3)I)%]I(R.?J)%L/@:T.<_S"8$S,/LD2QJH>^-@^721M :.4X
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M #N^VYG&6[5DE;3=JVV#:U,19]1A-KZ\1>^Q(A5?='N&5'*]2KZ4"JZ;Q>I
M/XZ2:UM199Y$UF$P'7\;!],!FT 8R8HU*_YJ5#JR_9_4[%JS SF@U;Q^D0JN
M>6S0^[6.#8U:=FQBHF7_K_M_>*$.,V[92",K[);U+X9&QFT8J>6B6M8OE(%4
M<LU*[BL7_?Z1!HS3+S$V4<"2 !N'0;GH=BO=CI+KB:UR^Q=]N5BK;1FL2-76
MI-K!14^I=.YM[$+BUTX<B[J)OU+B#MX$\.; 7C:J+'YN^F.J/#@K]:93;2@?
M3SVR@RMV-X<9M]AD%Y]K%__UR'V<?=J67=N.X?EXZ\BP01S ?="%&/E-NR12
MM(L.:*)>4A]X>>4\[PTNE%[&<]>3:E(RIB&,457MHF=DW$:1E)&4\7]5^A?*
M,.-AG62,9 R-D=<N=#5CJ.D)5'F"+9T6GNO(2T52+5(MS5?+"5>AT5DFDSY9
M=IEDLE2+5,LYC'NE#^XV,C*YY#O [_C/L#.%<^2$=W'=6=BP@@"WH6.K64'(
M"QM2P5+!4L&G5_!I8@$W@C&I=CO6MN"(I,'F%#=C+H:JSVA;K]A*]2H'L'T%
MRRM&[5!P<]89R9*[SP#/H63#-B.)IE1ZY4R:'&?24"Z,@<P94;>6+X9=.7O4
M'0%*1N2A<AY32!6+C# #]"^=O<JKDA%R27^TVQR57O"3B[EMO@AYU;H=@T,C
M%AOB..)M_9Q?.M=D\@@6RWR3B Q]+SN&*D9&IT7>:CB[KKW(G)!/=NZY=:XZ
MS'B/57;MN76M<J%W3]NYC;F)E.X^< (EH&,5"I&0T=^GBOZFJ9^;&_LM"=,X
MPO2Z%UIM3JMD3!L9<S$P,IY/2\)(POB_]M4+K<%WV)I1(*NJZ^%\!;[7\JBP
M)/7RO:QRYI=Y?1T5:XQNJ4OB9Z5-R9S*F*,,^X0Z&4^:6Z!.29WJJ$-\>J64
M3W]6VI3,J6ZZZO4N%+549J::U<EZ:[^$I:(W0L8"<RMR[Q>[WM3%'L,YK1SQ
M!%^@$T#O:O4%X!_0O_U)-.@ W\6K3*7'X\=$-<<GP10F2\!?*MTW63#[D$//
M\7JS\29^L.\N^>NV=7]VPKY@"+7YZZ_((6AMFP9L?AMW+*H(G+(U?S(HJ8/+
MIL2PNMO'O.<5'&,RK90S+4SX0I5?]N4=A8LKI[*:T$WH,$-VV'EUF-[4#CO&
M-DH\+VE:YM*(#\@.R\%_!BEA,$VO5ZD>O5ZE=J%K&7<MWF0%T>/WR."BF[4"
M@^R1X\2H7W1[&7>U&U31M62T^F\K"[LFP%/B,S^2OZ#GT3P*=(A]=%\A[GR&
M#L2M23=3T6B:E2>U 6R]B@==&61=]WAG'(G%Q_ DLZW5N8+?.5;@^1B!R+-\
M\(F.Q,K(\B(9Q'=H -6/&GE;R/9DG&:Y+JXM+[+LXH9T<;]?ZC3S#$H#[ WV
M]# D\][*Q"6ZRS&3Y'JX/!^K9A5NZ*7":\]*F9(XE1%')]YHJ:#)LU*F)$Z%
MNTS#00O.XP\?LC/G\3;1T#S:2+)'CC6R%LA!9,D%?/0"R4^@XT%O9-ON*Z#Y
MV#ZY^,8-IOXLL$>F229JW\MR8O^N8T$3+8#M_>W=92\^IM>&1M?H:=J[3N"@
MZ.?(<_NJHE\&GO7NXZ4R4+5!M]N-4947M6;<QA:W<1CW0(1;T37EC%#K6]3Z
M8=2ZL+<U\O=)82]<XI3^&>ZG/LSN'!\X<T1L+ IJR=+;?UP%'AEO/._:74R1
M$Z45"6-4O@#B\2+SQ\C\;X \1#^((E;^N*9)2*"W_T(BYV?7M5Z1;8>/N X\
M,M1 C&%X;6SWZ^L &('F=557A7SK#KOA_\NE^E1MU:W[7"-,OR="WE>& _VL
M@.<:8OI]$7"U.QCHZEDASS7,](63BF(8FG9:LI/188$\CPX.GW#H#Y"OAEN;
M\0/67RS+^Z&0]WVEW\_;_9G%/J(^\LVX7:$^AHH6LN+<]9%O+E9$^NCUAKHV
M;(H^V&R/#[-'["XA]E>/Q)FE;[@E,^J2^KMEK47(#L70U'Y.9624^6BJR#=O
M"(FA#(8#X\Q5D6\B$7M-^E#/:R)'4<5N.'99NQ"O4S1M4,XN=D6M&SC/"EBH
MHL5)YZ?WP4'VW][Y.(#O?JE;3!Y#63&-FL1$'A4%.0&T'I9Q9$E&^C#B#>K2
M8D;Q#G3RX,3:RS7\#(0NG-KMYUTM\R7,B_/.,>V 'HZ4H8L8L'#)HO0&VE#/
M.]X<D+9V\+GFW8%XU:)UAT,][U[8J<'GH[IXGE')4E7+NTZO&/P]F+KXVO7*
MNID]X098WR".9EY^;\2J$$\NSO9$P^G'OMX=JGF=Q3KPY*)A+V71W"-HCX4G
M7#B5'4R%?KPQ' SRKG=#B2J"D6]8%/K@PV&_F]=BJH21;X 3;D,:2G>0=S(O
M!(.L.%Y0M$*GK*2#XAPZ)BJ]U:0)NT@UM-Q,$XM9)^!\>TG"SE1[_6'>4>(T
M@/-M%HD=,WV0>QE8'> QQ"_(A/2XY!,LS>.>&*76T_5>3I@[PE6.+=],+?8N
MR30]S+LG7C>V?+.VV'GLJ;UNWL&U)+8)^%E^1!7Z58K2-7(O!4*1*L*1;Z 4
M^E.ZHBAY25<EC'R3MW!W6!L8:MG>\'T;THV_T8*>7#_0T!)H3=Q'D$R'@&*5
M=\G__KBF7X5X";"_^@H6,#HD?@ZFT_AD^1[.@7U+AE9_%7WF.C,PY9P3:UND
M2I=_0C_%-G4:#?:86"QT4Y$)34I5!A4BNP$+,-]A'&+35W !?B>,,:%]#>W
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MU/KG,^PN>-*X?WLW(\.@=KDC('G8CG "R(/ND N9:6\ 9%::\I -?B\S[4V
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M2E[\2O^C7"A&]T+K#2Z,7G?]"N1Y ;3([VT[_GO]"15X%MCVJK,$R$I-@WI
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MA_J%%FIHW3P.EDM[U;E^IDG*QN]'[\.D9?U(C9-@&MB 5=-&&40'T5?C6NK
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MX@ZD19/(OPA*IB9,QW1?R+^<.>E2?VMF1#\[YDT-#T7=%EDA_3YKB>3#:^
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M,S-H_71T5X=YZ+[SDXKIKI!G]Y@_3\#%TBH-!<^GTL1/JE:I2O['_EER!)F
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M/3()8:#W2-[@A!]/,+#@ N ?TK[;:-^'.UR:^'F9^",M+(?]U:,-PO?<_C=
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M BB#,\D@F9&^)<NV=I'[^R=<E?@<9R/<YX5[9T&>(JG6!G$_.^Z'W8\".$8
M_SY:  ^,$^ZQ31"<G\Y]_??UN<_U.N)^7MRW&QQH.UK6 ?U2$4 9'",#3H)
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MZ4DQ9F%7/MDMP;%0O;Q_D*AC/88%Z9?@[H/M*1:A7Y)Z+#RO*?I8;'Y9\+'
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MLV9@8\Y9(=B@\\^:@8VYJ,'R!YTR3P?G(9*<F?7E+>X_L'?SE[-SF(=M=AT
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M6*J0SGI2_*(>I+9#=RX'O  =DB?F:0=3U=,M*K>7AY+X=$;D7[ X.>P(Z*@
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M%5;;K%R<[LLRO(UPYL,Y%',D\S)D[KH:&):O? RT^RQC.<* 76A%J& G>GE
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M@DI?DG&H&G\2;6&<]^R$%.B'>%[QR32N3XR,6,!"UOR*Z=R %]H+*?!V51"
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M:V:*\[KC1R'\-_VI7=GAVI8)&P4T_A3S!OW)IH-E(7U55(?NR1RP%6_,)%A
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MUD946*_:).%@C>I%Q8%UJ4T0!=:B7DX,6']::Q5@S>G9\,<LJ3%2P!3I/++
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M(\3\1-<AYK7'_/_>< CZ0<S7KD/,:X_Y\SM'S$]T'6)^/<Q3NZ.LPH9S*KM
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M#H1*P&5UCIN0M FX:IYUML[JZB#6T-92A).^^Z+<UMJN+*[GP3Q.4P1<P :
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ME*>^'Q/OEMRC*H#OV>Y6]$8\&!1ZDXBZ+1YDYCCW:6G;*J6X+;B(P^ S/P\
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MX'6 2Q?\+:A):QXY6*6 L1+:1??4V:'1D+0/R70[_A0K UARN:C=XJN+;6.
M'!\M75>KNFWX-@F<N :42%WUNQ6BEU\>I8IKV=>2WP5?J;<@(<T"#\-)'IBU
M"0,4PJMP"<?&OR1*L,%.;5:3ZVAJ' ^TF]B&=Y.XUY':N19OK67#CKD+7\FY
M[SR(9]$B]DJ^-"W(M38>)(>3 U\S?W?J6,7=!+I/F)T4?V!.'5&A$B&E6Q/K
MSH?-B-^4W0E:Z@P)-519[VFXO?)EDR_-#-*(N'8/UI&E:?(J_9B5I5:>.TN
M@KJPR$Q0S2A):UJA>)6 U#^@=6ADV=U@ACI,KT62'ALZRW&K?[4,>(587D^O
MKF]%=IVH+H?R(MOFU37AT7E<"PE>_WCLV9(E!,$LN#2*DL("6'FA;<I5ADOB
M4 #S543)N P#_RJ$_9:Z>?R,'#.MJD?U;,A!3!.]?@FB)( 2BPH7YK9*Q\9
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MGX8#(T$1W>@"EN"R5:-;D\&B?4<>;RA>V? K'W7',.I" 7GKH1&CG%NZM=;
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MFIFN^@O")N[]HD');5B^?>*=4U1I@7_DL\](4.=S<R7KU)9XMJ,K5CY9"'
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M_(2HKRF%77H: '7*X5ID&0RS'TUTZ=#'=Z/(/UXB0?A\1=<$_OS_4$L#!!0
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MVS>="]"G8B'+DPZ#>X-._LC[Q \K\%M:H,L8-!+*-+4=D@A?#T>;L"()Q/6
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M"&N< 5UT?1XI[PF=51RDB[_/,^4]X7<P,>^1HK-WL[1="ZP^EF528N",W+M
MD"21%1^/1!Y4DJB2CS!:TI2*3")[)DTU(R8]K8Z,&X>VP4Z0&Q.>=1;QH7CS
MI^+%JHJ_^MJ#++306G;U.:IC7*E+BF&.TNNPPT $Y;RDZGQ"<<V5BEW'0>4
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M'W5>'STSHG4\D#"P5'_@OTKR@%)>H+:ZT&*!642R!YP7XC5#VM2Y>E_<RE+
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MS^OIJV7T\(%U[(&)/%\F$GEV#R %7T*4*9Q[-:-49[0HZ'(\NQ-L_=.+)?*
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M[* $(,%5/=!4:*#BPURI]O;6ZXSODD65(O,ZVUF^6L>6V>NP(>^K$9U RRJ
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M^L0#Q!I)+\$!4G2B*BO?,8$".@3I V99-7763E0E/-4;,(!)%X36.:;U%@R
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M1P0)IM%R/UWK'4[%BG>+F'!P:"?-E[\&!&(J?#E<T,D",7R.5J1 :3LZU1N
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M.(SG:#7)4E-;)TR,FO8^:J7) 86N- ;23@8VF&@-V6%;A[<;9(8%7\H3VQI
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MM5MA:Q!W,4HTZAQ&XW#E,!%+:$60;M&S<(8XF4>Z%0^PF?B4P.2AGY9JKWL
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M_9*C'Z,<IZDX S?'&:?A:82R)$+)DG]2G'XLR ..\/IT<!?J9/,!3\3*7L1
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MOA6+;(EFP%M>/0&H@^C=_=!,,\3R-X\>*,R>_8CIG*'5@L0H'3&,VE7&UM)
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M5(X1BQ=<-[O #SBE*Q'A?/FTPEF+[USK+1@ 92D!=J[/UE7&['78D/?MR)U
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M[W/$^(:'.#%X%H>[K/%TK],6G%@^U,M.:S%+$=9&2=FG&Q];?E(>;+O[;DM
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M+7Q''[GVMJHX5AW_B-(QUQFJ/QM@.:PT6*U@&'N.T&HU[-CV$-RJ&1_Y6A,
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MOBCH3$0\H@I E.$B0ED2I;P)<)02=$]2(HYJ1?B!IM5E$^(^@\,7NQA1>Y7
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MZG32H4X*&S.8_4^G1PRT9$U<,.ZGZV(*TP0(XX(Z%V8S3<  [I3KPQ"EB1[
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MH$_)V[HZ7E,?\X'.V")/A>)PFS>%%2=<EE94PK4="!T;-M/U7J])"-[V'CB
M;:N=/M"LKFD[9;(8*LOEI?[)O YORE]P^BP5\Q5M?>S*VWAHF"*CN/2*-O^?
M/G-6+9XOJD*HL44AZ']*\^8U _.%X7-PU.SZ2LOKM]FS-)?WJD5[8YCE\#A8
MMB?S-4>@LF7P0#Q7$-O-_)..*&!K;P2]U2OP>!U?573*Q@E;RKT^F7^EK^L*
MS$)J"L,Y3PA/6GSA7H?U#+&0E81S,=2[GN_=/7P3!J:G7S(ZR\1!6OLF2*A<
MJ[2H7_')DW&6L5=9!1[.+E!_WT1+X2Y41#"1K>W]$;4G0&[2-YJ 5QRD8R]D
M[E4$7Y=.L:$9-DI/ .!R1M_-/XGO_H6]GZ%CL!9'C/,#!FN[G&G,T$V%'*'*
M9<,,-/<P0]0PKQ7"B+5Z-IC]L8PJ..IMG6*(:O<XIYU* ,*;;[8HX<H9P@MR
M<- Z^SVD; R#R!1"$=M]KI\L5F,#$KNTM=)[@A&V5K,;FJRU MGA7D H6:T@
MNI97'?(VLA7 \Z_/F,>GM'YC'M\YCP"CM_5 T3<T@M\ 6A]12#2G@SL?',+7
M:(X0,RZXISD @2-X_-I7&@\0,8X'KWORO0-Y@.#]ZWZ"S0/G<?\Z6C]@.R);
MX[).25YN#4_W[&W'CPR5L^V%S)BI'3.U_>0.C6?_J<2JJW6%#C6B/DQW;J(C
ME+Z&P\&2K>VZYQ8#)1&WM\<!RDAUALZVCT%1LV?*25X( ,7&?W]9HW)ED.&P
M.%CT)2UF-,M(3EEU3*DF[1#>%0=4Z/2BGB^S*0IO5FP X;RVLJ7RF[ QH&L/
MTLDQUV><)/5)3K+=T$=?DN\4\8)DQW1:]G8D>#?R#>.7C9H-R$,VZN::/R7?
MX7E(BQ]*:E0M8M88CE2DCYPUIM!@F>%)$7A:59<>CS#DWSTA#"!44,6E?"[+
M8 +[VCFT5Z;1!'K,5JS%H1Q2EE&,%1N+SA@K]AY)ZK0;T B.OB+$/M"CB@O[
M\+Z&$PEVLC%#C/OZ]":&$P6V<7D,'-_\NSCP>+IJ7LX5'R+Y+"79*,T+P2W9
MKA@]TV1!1YP6E,O7=5<LJ\KFN+4(=?K[WE!13]\4QP!H#(!ZBO:1XODF8Z]_
MR.6GK874T1@'G,]B"<B<GTG>G *W^0U)^7>2570RK\E.I(25$G1<7) BE>;5
M)G$HS1=UD]N<"B5I)C>KU!V4[.CS8SC8*2D4A-[NY%1G*+B[.59(FD6OZ_#!
M8.&,$3TTY^)D?BB"+IE,\ZHV>ZFC$+U9?QR@IX**8BU)NC>>LB5"()IUV='V
M0X#Q7')(G"@T7>1;\WZK9M9KFY.9NJ*&<=<8@L,1N?J (3BU &-&P@$G.HU>
MQ,S5C3!#C!#]$&&$43LES$6>HHIT^%VS&.*/OM:N1L5"N&R[A"4S,^N1KE'[
M4\-I9<;;MC&"&B.H]G9UB)'5_GU]PP9M?OW'J%HFXE<C4C^$298\S4:??A>&
MTZ>_J9[-$+\6QWMB%;7Q^<&!PC;^28YQFQBW\?V<Z.[:\U@6'-GE0%S!WA<%
M]4<"NB6;H],OJNN  Y8\.\=Y(O]W+;B_(IDTH>SFU6$L',QH+R5GQPR'L7 P
MHY$^Q925)!/Z1-MRUGB@C4?XZ8#C#'C=)F+?IO-4F@GKHFYRH8K%O%]0L]$U
ME#RP&00?_+TRDC4&.UG@/"(.QGPA?[4N9MT55% W'!"_LIPD?U6%+.!QO:H]
MC_.2"F-JR;C\W3WE*4LZSWWS(;!"U\RKKL,'@X535M]SMJ2\?+_/2%X*Y4LJ
M7DMI1MI)*K?A7"^][D:=S&_O'R\GJO"QKJ4C(7OU@DW8:-'3!Z&6JJIM=V\7
MA0V)->P8$P8,/_HGXS^$R+LDRU2HK8:38]$YYC<,E &@=40P#T8;3N@6NA@S
M5W'"3(B ^:<0QI;-5R@S4!I0A2Y[W\0?*4O"UO!"N,2U<H?9&MA(EW=?@CKF
M6L1<BYAKX>7^I[-?(,34"T^>VW!NM+O8<N'<7_<8LPSG-KNU>RK$"^M6.09
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MLNC BC874&TYXS9^($QK[C)-ZAM[OABE'Q,E<^S@_V0 <:KN1R2; 0Q@YFP
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M!U"YF)T'%NE9V)."&LP!"9MP$U?&L&=ES"=2VH<QG^B<6\S@6FJK=Q2-RFD
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M\'O Z6FCQW0\I8T9T_'.><8:I/RH0L%HCDRC!XDZ(G-HSD#(*K-QIZ(YXR
M[3V>YTP_*])%GL[3&1%_WOLUJ5]<E^P4/XX2,8"'C#3K;YTE2<V1VIBW%O/6
M8O93S'Z*V4_G@M;LYV+*2I+=,/Y8/15IDA*NBJM:]/SP0''.[./N:)8O=A9E
M737[-M^GOU/4F [@&IE-A9XZ(X\DG8WS1#L_!CV<"=OR8;>SQT)7O6STFRNA
MWJA)-.T;@^N&'YV2EX+\\9[P--O<OE+-AK9IC//'.+\WC,;RDSD<KS$7 %>(
MSE;PHW+^Q@2!-H1V>A'"A0P7,<SD^$2ZA'L6QQA6>"^S;J9EQTA<C,3%2)S?
M2-SP 8^]?](5RZJR696NL0W(L&<)8\ )BQ&+&+'P6EIOSSK(D\U+%XS+%3B9
MMX5+E?XZUP%QL.6.Y8N2\A< 8'531Y?2]7Q.9^5D?E$)4XT6Q25[>4IS(EE8
M3')/$]?[=WIE@G::'$;P1/@F<Z)8ITU\I>*7]^O7(_N8QIX_. Q;3";6>BA/
M4,3W[CF;49I(7CYLGP;M8W+[^U;OS#"94IM1/ &8K"A/.)F7Q7>AP]5BHH^)
M[.4S?;+ 9/H,!_!$]@.=9:0H:N]*;X=D#Q_I#[[)G!EU]T3RE).\R.K/7:7B
M=X(_,]K+M/7UI9X983*!YF/$("^.8%U D=7HZHRNSM!=G3J!&.+E S_G6%"W
M%%S/O:!N+ RCQZ"YJ&?"$GM;$0CW'X' '70-_!,54QQ=0$#,OX6$>=#5\#LJ
MSEB8LE ]IO_$&$>@@T[[+PCT.F<//Q0K GUOH& -E".X]$ KIR,4*BXML$?G
M\;#Y'I_^)JUF*BA*1FG]D&G]$CVG,R8@OH](3K+W(JWO<6X;=KQL;Y,<TC,-
M V62#((BIIW$M!-T[R!\6& X+_1=K87'E+R-:]&A!*9LB0Y(RSO,76B4SS:?
M&Y)A.6=_M9P#K[$=@ULQN!5+Y\;2I#"1B"I(^6'JDL;(LE(FQLAR_Q/F)0JK
MT7A##"Q#U%X4/J.<EH>.C7UOQMK)X=$]9/&Y\WJ"K F.3I_H](FN Q60Z[>E
M..GI;;W1'NB,+?)4R.S;_)ZS>5I.^-W>2]1=.(T&0L>&C^)!::'QO5Z!)J@.
M>^  UJPK063]]'N:+Z;LDKTL65YG"\R;Y^+%+SA]EIKK:KT0E; =QT/#%"Y?
M+[BBS?^GSYQ5B^>VV*KYPO Y.&IV?:7E]=M,V,P+NI>3YHUAEL,[NN#:QC\F
M\*JB4S9.V'(=7*6OX]F,5;G<#D*_SA/"DQ:WH?>AHZL3AX<P(%=G]+9$;TOT
MM@3N;<&>I&^L) >5DM_3,1Y.#GZ_FELXR?E]JOSA9.-[-@W#2<GWY<T9V(O^
MRXC)B3AP S>_R;=)HNZYE:Y?&<IG[H?.Z"J/KG(_KI9:2.ZRM2'N57T71U-]
M-_8]*\3N66:LOFQT07.Q&4^\^08]' D[0JZF1]/0+QE?TF)&LXSDE%6%>@+-
M.T9W3W3W1'=/=/?\%.X>XU,D'+</]$ *Q^%C>Y:%X_<Q5[<0F'7+@VTS>EJO
M,G\6'? #YS3FC$B,=ERTX[R65WZD?)7.ZM=EO]+R2BYWFJRE/3 Z;CT2#D8<
M4CIYRM)%[0@=E_><%@+8=Y)5ZG03L^X8(=^+0[#[I3M->[2@-+?,M#T^'#"<
M%S<_"_$MO<Z3_$$<EJ2H>'UFUA6%K"22ZX XV&(0LQGGR55:"$V"9(4MT_K]
M'&J67M:1P.(VOV&<IHM\$QM\$-J;;W[Z^!9J9C91M :E9]Y9#(V%54U%K(/@
MFSUS[ ?#P8Y#VB;SEO-*B=Z@+PZPF\)G-\*.E^393KOE.$B8( AN4J'&Y0U)
M>;=.W=D:!Z#'BB^S2B9+I+.TO,TER4H\78T=PQ8WE70'M+L?5<_\POM\U+C<
M!XLT 3[Z+9];K!237C$4-E"1!YTU?ISY [%Q0PKZ&?HE$)9^T$\*L]Q^J.*=
MOI<LAF(07N?7]"".=2]B:#Z&YG_JT+R#(1Q.M'Y )UJ( 7['@%N8]SA<?5XA
MWMKP$\<(]*9&[\&($"]R.#D!@8 1/)G07R0 JL0@>$[!+<< "A2!NF;D^(7B
M0J6KZ1W &)+Q!%%.]<@,!SUKTIV.K)AH%Q/M/-5=GY65? LCD]I<(=4Y6HS%
MRDWSA3S%I4;+4WG_>)S\515E?;S;Q@A[_!8.9EZRO.3I4U5K?E/F$D^U'PH'
M*V(27TSB0P0PIE;%U*J82Q1SB?IGP@,M*YY/\IVQ:,L&ZY&<2_@]"2.P$ 9I
M/0OWE,_$_[<*"4VF;&O]3N8[ZHZ >!C)$<CU?ZJZMI /*.YCN:92[<:VRJJR
MZ?Z1L[_J(Z69(8=EX3)*S!+#D;L4D[!B$E:P25@.<AU5BDO,QHK96#$;*V9C
M?<"4)52Q/BPI2ZCRN!PM[1"SM'J/Q828Q^4:= DQBVN(G)T0DK?ZSME!D*CE
MT8T53K*6-S=D0+E97AQ3"')^FM\,4%0YB(K*L9QRS Y24M9C.>5+PUK*ZO:.
M3N?UP->U_X/2NDP^33I+!(.[^(@F7%H5, ;VBM$"'$[V@*(%T2D7G7)A.N7,
M)7<XOC@KN1^B5PVD# QL97S:?Y=$;##V2N3;2B.2)Z,E9ZM42IC"W=1P_\Y0
M]H8O2J/1$8T.3U<2DJ1>WB2[WZZ_6I;L?E0:( 9]<8"]S.0]GV(RWQ'8F2>O
M:8\#E-&[=M"I]3$H:O9,.<D+ 4#>&=[W1CLRR'!8'"R"8@X)A.9&16?K#P,(
MY_60+97?A-(,77N03HZ.D^V -ZS]S0Q5&JUAQ^A<BLXEKT#@"LNIR=@M T-R
MH1FJ;0C34+LGA-G+&E3.0Y^K%4/B:73\1L=OF(Y?H&8?CK>W#_LU1&>PL6,F
MQ*1*GQ9XB/F3<(MH8+?_KR.]ASNA234K:3*2L)TJ#?GZVE A +_TQD! # 3X
MJDWTGTHLOR8;6UUB$1P;<!H."4LV&W0\F[$J+X7)=<FI.%J;#/[)_$; R&<I
MR5IO++L/A(,-,6KR\T5-HC<]%&_ZMS+-TJ*I >I+7GD8T]'/O/VL^-X5JYY*
M0=>:@D)H^(G04F<T74GK6^F6MQ_#(_&W^4KH>HR_3YX*H0X6,[GW(10#.GHD
MLU[PQTRJ?VG(:(N!'&$<"]V=\;NE2R/ W0;Q3/Y51:?L6IP2LW(R'R=L*<F0
M9;Y?U]Q,\X4P$?.$\,0<EX_1/0->'Y(/="6,=I))N[V-^WILA@/%,!R.Z%4,
MP\4P7'!A.%?= E54YZ-%Y'J996O%!DWXQ!X[6!>-D=<8>8V15Z-0G9-]C4:V
MQ- LN!2,NU\\G&BM+RLMQ/BL-R<:$#R"0C>].AR ;$!0_L:'/VG@F/W?A<+
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ML*.K'U+WC,6O=Q??-=1UMO9.T"//X/2<-/9/SFM:_A_E&<F3\<)L<UB-X@>
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MV+SCYHUQ#I_ PCH;7H0/3B,OP#T_/%#O>?-SQE]JU?WQO2CIRSUG?]&90J^
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M Y=17#.7VMES_;:DLY(F=ZPH'L3!=$JS8<=^R*P+BX!I.VC=$T$5X42HKN*
M!5-UTJ4?TMH6T7J]E7L+#DRWX7A]@2JO*JK,KH-WZHT\BQ71VJL? N])(7GQ
MF5.Q5^L;=;_\]K<K\JY.6'0:IU<0=[0HG!%T#A)3T' DO'S 1*PN#;F]?)1S
M915D:31:&P%A>+9[,IC=(83*)^AKA083+G684O@1@C#2YHX;=OB'E&T5W??&
M0C:Z[SVY[\T-1C1"Q0%;A^F#)E3O,G6G'@@TT7D'6-U.'S0!> A"=U<<FBB\
MTS:T\.T @:,J,@3R#@\<*?U]],0X9Z]IOBC$K_)90V/]@.CFWWLMK,*B;M\8
M*@;J@\H8\(P!3T\E=[8K31EL.FV"C?2+]Z_DA797"NIHC!..)KK9W?P#04(=
ML=V1/,Z3]>_N98D_EDNU:B/< ;O,=4 <;+EC^:*D_ 4 6-W4,2AP0?(?NT%5
M$9.N5AX(F*PH3SB9E\4O710HF_D)*NWM*#IGG%ZRHI1U_HNBHI/Y%7TJ3\DR
M[NJ'5 /2>B/E1M@'PBJXD[58[U+RE&9"[5/?\0<U=R2I;<O#Y]*FMS>"S0CL
MC: 8H(P!2E5\H%,K9*;J5I@A2KUFC#!&J9D.!CSB484Z_"W+8.*2X&G4Z$EH
MH@2&T PTB!ABC"'&&&($ ;'7>M'($3.8GF AB#+"W0,AAAA[6HXX@HQ XSR<
M2*)OWUR(H40]EB&BAY\^'03*MM';.F:VY&R5RM-=QLJ22H;L1Q+G?A?7&Y=]
M$C!0W+%_"#$H&8.2GN_YW6_7)>PF9GM['*",GL*K:T7LT"B1^Q@4!WN@B$,"
MH8EW=K;^,(!PQF^W5'X3*A9T[4$Z>0N?["?M[65QJ8)1AAUC4 5'+.(#!E5T
MIS$SE(%AAE5 .@G"R$KWA!Q[G@QD#2J?K\_5BB':$OWU2I$9_?7]3Y@77U.G
M0A6.9[X/XRQ$!SY<61[6F?CKWT:<9O5#O4O"RW=99"POR*PN&GSXPXQPGHIV
MK"I'KVGY?- QM?0E]OC]@5R)O2.(GL3H2?3T2')=3;VX)^_RC'QH%M^]7+33
MO66J-/C-NJ."O-/&;5'#1T "O"C8+!6$:I_"5C3$ >-2$+9@LO#S9+['^%3S
M8BJL&PZ(UX<%E _)U4R>0=^? BQ.]VJM[QE!U?;  >R^XD)UKQT&L@)Q82Q<
M30= !UMH\4LJB-V\0-"45G'A@]V(.!CS0%<TK^B-L(X>I,[*TWPQF3]2ODJ%
M46?,%;?AT+'DD634=J/8#>-:^O18]3'3'!U&Z.?JDN2>]-:*#[$L3?:$ZRGE
MUD-X(3TEF4P6.SP!5$1V-G8DYUA R]<XS+:SVR".Y*^W#9Q48(<8,,019_N(
M 4.8Z=+UHIE><0PTBFA@U2$,)IK,$H.;Z*C"4;VO8PSQQ7YG&VC[Q9!J#*G&
MD*I)#,[%A@HQXNK#? XGUFJJO(=S9<K571;.Q2GO#K%P[E?Y,)-#O%-E&5X#
M0OT-(50C%Q@0Y^_GQ^GL[8.J%/V;;!"LCOY!*%@$"I2)GW&PY*5]!H]VOV;S
MT7Q#ZVC)FD?--R3J$I)LQNP_R<B>JI@X%!.'O"63T)-WPU1_QD&R?(=:7DP7
M_[O^3R6.HXR>/GT&;8X$TOJ60;)J>V10VPX7B.X5U=H*%8!8Z[25+5>4B\TC
MR\IO=0;85&L[8H>YIP1:8&WIC0KP;;ZB1?G2+4.535%!.5;9=7A4[7&!,L"#
M',H]ITOR7J^?C<O'Z-" ]D<&6GO?6MD2%9 I>6O8O/Y9!T?5'ANHO5T#1Z;N
MA O>&5[:[@_4%9U306:R75E*.,J6Z(! Q'MW<QR0I&U5OBLA'/X9$\GB)(',
M05=C5'#*DJ=/52FW[Y1-7G/*9:2%=,HU>%<<4&_SDN2+5-"Y?L\T3V1<Y37=
M!<-;2@AI^V !MQ(,K_-K.L"<M,%#_-I$N,T?JZ<B35(BR?P72_/RN_A]Q:GD
M_2[SJ1.DY5@XF &1*VC%R>!/G/0'I0G;E)QEXG,+(0BH6#<=VH.F/1Y0(.-)
MU1 ;C+WM7IMV\BWBO=^MWRVDR0WCWPHQ+\VA]866SRP!@/<Q/#:6@1T>^B[H
MH)FAP@\(X ?H:HP-#L2H[&R- ]"^$PFRY#3M$8$RVTKZ+CB@;5+&[C,BSK,\
MD5)Z^=)EVVA[X #VD"Z>2S:O"JHYSE4-<<"H'4A'SMEUKI :$J13O)>%XSI3
M0/>RXLT&Y;3$FPW]3YBOZF*0TRO$2PQ@AUPX-Q6@IW2(-Q2<O7$A7E;HPWT0
MSLT%<#PMQ.L) .,TQ*L(W=Z^<"X= &(= 5TK. FTFZ6R!'2GH"U9HB,-!(H,
ME>8"2I: (D.EMIBE;$(AHM)C=+F,4%"H]!1(DCL4&"K%PX-01*5UN !!I6>8
MIHQ 0:)2/4"!8*CMC4H-:<O'@@)!I65X>C_U$RH% QJNA8)#I6- LAFAP%!I
M%M 8&A0<*@U#'YN&PD*E7WB<+E1ZQJ!/^7Y"I9F +O= D:%21RPNF4%]YZB4
M$_@U"R@\5"H+*(<$B@R5WJ*YR 3%A$I=Z;QS#46$2D^!IUM X:'25'SM+%1Z
MBC,:5-J)_C+-#I:JW,SZ]_(_3^*D%[_Y_U!+ P04    "  #7IY0X/GXV%D9
M 0 1TP\ $P   '1S+3(P,3DQ,C,Q7VQA8BYX;6SLO?N/XSB2,/CS'7#_ Z\7
MV*DZI.O5W3/3^_K@RD=-[E95)C*SNG>O<1C0$NW4M"QZ)#D?^]<?@Y1DV=:#
M;RI[/Z#1Y;0E1C 8C!>#$?_ROY[6*7H@>9'0[%^_>__FW7>(9!&-DVSUK]]]
MNYW-;T\O+[]#18FS&*<T(__Z74:_^U__]G_]G__R?\]FGTA&<ER2&"V>T=W]
M-HM)?D;7!/WGQYO/:(;>??BG#^_F7]"WNU/TX=V'=[-W/\R^?S>;_=N_I$GV
MVS_!_Q:X((@AD17\SW_][KXL-__T]NWCX^.;IT6>OJ'YZNV'=^^^?UL__5WU
M./P:E\T+[8=_?"M^;!X]&OKQ>_[L^Y]^^NDM_[5YM$BZ'F2#OG_[GU\^WT;W
M9(UG2084B0"7(OFG@G_YF4:XY&0<G0+J?0+^FM6/S>"KV?L/L^_?OWDJXN\8
MU1$2I,MI2F[($L&_WVXN>V'^]!:>>)N1%2S39[P@*<.9#W&?DV7W>VF>[[T&
M>/P$>+S_(^#Q#UVCE<\;QAM%LMZDY+NWQIA>DSRA\7EF&>7N89W@?EOBO'2!
M_?' EO&_HR5.[6)^/*1MG)D((Y9Q/AK2,LY?B67^.!S0'KX:B);'2$IBE\)3
MG]FGZD$8<$"H<GB5"&\-3)Y*PO11)36;L6FT-XFR8&B^_^G]!R%B_Z$L_OJ5
M2W&<)O_-/UPM;[>+(HD3G">DN*9,\#_B/+[,2I*3HKQAA*\!<\1A3(,Q!/(I
MZ!*:5V39(XP%6+.TO0Y2Y#U>.#88W>:14,<,'3 82#;[=OO=OVDA]2]O=_.:
MR*S+'@DP,/4#M!!=HJ*%V G:,-1F'#>45,BA?)K3CVFT79.LY!"D*7!W3_B$
M$"[1XWT2W>_F^9BD*<)1E&\)2I8HHNL-R0I!J"7-4<E>S88)B)("9921C$0D
M>1"&)[P6LR%C!O7-,!WG>;W]<1Z-T*!ZXFU$F:&W*??IM\SIVG2G4RLK*1:$
M(7LH+ XD7=M,3I9YP2=:XB>:T?7S6Q"",V9L?OC3V^4V3?\*3^P^S2*:_W7W
M")>4_'O^Q%E21"DMMCFY6C(5=$:624;BC\PW6";EYP0ODC0IG^=%0<KSIPUC
M%A!MSP="T]9PBO+3%*QK4;K#"G8"4Z$H%HBAA< ,I35JZ!4&Y%ZC7TNF^]""
MT>"W_\_K=K"VAM3VPDQADSPD,3-(BFN<Q*<I6ZIDF9!X7EPD&?,DF;\]CTKV
M3,EV_<#64!_$8$/( W.]#?2P4M&ISN<]X(E+2($*);1A. 7;TQK,1^U05G;_
M=ICS7QBYBP3^GR<X)<4M0R'/5TE$BUO\A:P7)#^VWQ5>4C?8)09WO9\$"FB'
M ^)(_.,_?/CQW3\+5-#MFSGZ=<W1&5$C?F:H;XZRET _2D[:NPFIPFQ4C[X&
M^V?8/LW)GGFJZ@GWO&[;"3X $]S_/<#'JN]G/%<G7F].#IS>:<U97[;@-=UF
M)<SX>(Z(:3@:)?R Y#$I[[4\WHEYM'T[5L:9'5PF Q%UR]:-P/+=X47:$8WK
M_EU=R.R/XUJ*-- 0!X=^Y?_X]>CZB4='*>)*YYRV-M%<\%.4;N'$TE ;J0]L
M64_)(Q!:@\EC:E/.NZ2/"ZVW)^YKU5!A[%@ENB25L;+D\$E\,DB-$Z8]?P<*
M4T.H2*A2W>6UH60_)QFY9!\/PU2#SQ@HVV8L?PH70"(.$_VZ^QQ.]1Z3DTK1
MR&"Y[_!#@>=9S#BM2%;;WDC)\'/JR]X]GNNEYU 1SF)4P]4-?=C"WS#: 4=E
M\Y]OYVB&[K8+6J"8H'E$<@H??B89^>\M23$/=]33WJ3D;_0H) +/?]KB9YSA
M$W0:(#HRPF!4FNH&FZ%]!'&;K+)DF40X*^=1!/H,I"Y-DXC1?+XHRAQ''9:G
M]A#J6T@9E)]#K.H,JX41VJ&$:IQ\LY?^NE ;Q Y_,'5#-O@9)$UQM?Q(\YP^
M,J0+W1,JH]&TCZJTH/H[L])"3^_PRC4E3$ZQ=KB!'%@TV 4ZSS)C56J9ZB;:
MJ3(5F/X[YR<=EQESE=9[ED-+.T@\K:%S!D9UKEXJV(@!1P(Z:H'WKE%D"$P5
MJ6;"'J2(\F0CG,@#O?1\0?/3;9X+',[(DK#/X$S2-;G#3W?DJ?P(>20=;&1Q
M5 UVLP#=.5ON< 1YAW>VSH:CR>,9D4"4V^!QA2J$1> 2!5/O"KD\$Z&1OM\2
M[].K; YN_U#H$<^[JV)U3U!'BQC>XFR;S&<D3QX8KSR02D/B]#)CAC+GH4(U
M75!Y-"O9@M)0_28+Q@U::%GCA9(=8E/+$U1?O-XT0<T5";\UKG,:$1(7%XQ.
MYLZ8T6C:6T,+JNNM42.%@ /#^QYF*T,MD]O52>T-2=:+;5[P$/75\C-S&M,+
M<L2PIL-8/H7M Q?ZS+4/+YO'AO;F[N(\-6]C!S^G@!]:3I8(-M**!B9]E%_T
MXDY'1[>VQ%FHW'*9R#A:DCO:6!+-H=L9*7&2%F!G;W':(=24WM.08E+CNQ9;
M@ 6ZHZC! ^W.42M,4(6*=]936P"J3=4)&(Y-_/$SP4SP5M=B(%5 UW@T'5'?
M@-2%["^BKXVB7E3?!T5,(OO7K;A^"A@VM])\G^C9Y%_J8 E<F=H?<9$4MYN<
MX/@J^YE]!?F8&G?31\>Q;&SWP@MM;?<B9M/2M#A[%_;V M!#!<</L0<>*@RM
M7UBW2 <]D_N:L._92RN"-C0!28;CF%G5)>4V=0ZQ5<*$CKC9SKZ%Q,0M?&2_
M[I$%Z 1?[B[W\YOJ_/<7;ZZ/2P<)>UURL0TD95';;+/6IUUNQFQWFC#;5-D9
MS8=C>6EC-'6I:0+5>:+DM%)XK"P0M4SU\"[!'=U<+6_8NI'.W,WQ![4-^,,!
MG6=OT@V/E !$R;Q-9V9G+S&I/(4LB[XDZ>3;$N2NI+R3&L*.D!L$Y9J3+B_?
M3%6BR2U!OQA3H*L!_PD'B!SZ2'W9XU*/J_/5X+"N>:@"?NP(ZZ:46YZ-GH5\
M0YC%5G G?]DW0>_&JAS[4%4J6I>_R:PY@9_E2?';;(TSYFOP7]7$L/Q(MJ3Q
M.$3W0IE)Y5UX^88A@;XT2$Q#-BNLRY"(5B5V>"OS%Y*L[IE'.W\@.1XU-0>?
MUK8W.T=US94U4(0%U-"&YS!IJ2*]'.:;<O__:GDMU G70@9YIC*CV<\O'8(Z
MB;Q2$;H352D:%%UFD]JEB,\LTDY232YW5(K/Y7)&Y9?*LB&4T9+,WL\*LA+J
MKI7LKF(%20]CQP0:!>?EA/T]FJ%;@4+(RPUFZ]%O^B@2V05C?F"&3E'.Z')6
M0$TM=98<'L B,W8#\L*&'Q@;GC+@_"8G )\, XY0?X3U9$AJP'0?<?;;+CFS
M+QHR])0Z^W2-YII' &8KNU8WXF$'=>- QV)_-MYM@D%^H)*4"N\B7B1/9*^
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MP?P4&(TJF$;E14T1-[ZD6,T" H_,ZA#UVQZ3@J!B0R)>;2%,N=$>]J!RI)N
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MA#E"$)-E/XKR_5E\#CW:"O*5EF<DWD8EE+6\S-BJDGR=9,SM@6?9=\(R8'^
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M.F#%E=C9:[K;H D& D9%A2F*7@19]*\9M8@ *=/=M!(YW9"I/4XH_[%.*T*
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MY4=(6CEF<2O#J6\&(["321:J^1':@0O+7R%#*#1-] NTQ?KT\;Y9[? WM;U
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MQ'U[9'+(T.\8A<?DL8]LZ&M<0*KH9U(4=_<X>__G=V?XN=]GTA_$6JK=$+"
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M>?["S(H5O_7,^+&@64;2FAVO\FO,3PJ';TOI#*(M3%6 N>8UA@M:-\A *I+
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M6VMM("1/<89C_+XO(Z3S9W6AMC>,:V$E@.DF=ABBJEOV@2G#HN9I'F;-GY%
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MGJ+GC T#>KRL8]Z@/JL"S FP8P^H_:TSO?7[C-,<VK>?R(IN\K1D!CIO$F<
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MH?)<,Q#HNWU!=T1H;@?_K"Z\)\NX%MD:F*Z8&J)JP06H,? NC\-;3:>8$DT
M_UB0'3[PBMZSZQ^Y]@W9[\T+>\;AN%:/)[(BZ2N/BGD>:W?$Q^"RQ1EQ!C4
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M-*]>M-,W=@C5UQ[S]V=LT:"5BM(AQ.=Y,Y*3FN9:5.;@Q&P]D8Q?C2TH3##
M%6D&-\^+^^V.UGV(\_4#>6-_EC,?%I:W?HJIH1'$PS? UUC;O?+*U#J0&EGT
M(>7H_H2*!F$PZ_"#@N'<36J'RYX.;?!D<_(&OXK!M-C0%"G?Q&1+(S!=IS7B
MA E*5=[GS_MEF28IAFR&1N> Y#*V&@@FP'GO(ZCQ@8<,RAY&$?83R.[36%N!
M$O.C%7A>%G*75]R_,)#XJ75LB[P(7D"9KX?^D0:GB*5^<J]DQ%YN R*0>[).
M<Y)<DYS]1S5?9NFFOBN"J89E.VYKS =5^-S$QY0 X]6'E,!'VT=T0JN&#]@
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M]K&T<=7OCT-VRA]T\7U?O/(U\7%E)H!QE%(8VYJ1$@L[6VX_BJG_ P:8\A]
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MMETON"1UO>3J<+<OGDF6M?_S6YE('MBZ"QH?XZJ O1_N[;%VA78-BDV)[>J
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MNOV_ *PN>]2(RP8ZMBAP0MC9SGO=!F%>$RC=9^R>91E]8_$H^42+6[I?5LQ
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M89='ZG4C+VT4 P5?YJ),'>Q0>*/1"R0AC3!?PUA\H[2,PC(VTC$2X'RG83:
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M^+66C[]B-NDX1.:&_9YNF377UF*)-9UI]0AL3UK>PM,:2!6(4%>Z/X)DI+9
M1G:5;(/T/L5O*TX&A/<&4&D;BJD%G5D)$6!/)J(>X-^;7N;&1-BCTI5]$&$8
MJ7&8E%<ERR"W/?&9A1T3W+2>\<W,VI8655JVP0M<'DF; ]F%K)F!*8#A%&,*
M,SL&PC[]&E%_'PU>C(PY(O_F_Q")XDM+YJC"J[';6V+W\[4@L7O\@V9B]_.U
M:PWZ]G"_N+M%?[M_^'P[_QHDO=OC$A63'IO9KJ_W%_B[FI$6?6;)))\O'\H
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M=N,+>279?\W7GW!:_(JS/?DE)05#Z.4PY8])?JCO@DT <.YU 7ST7[P"AJ&
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MYSLJBNKYT$>=G3!0TJ/>S[@AFQ>,X[Q=!!_N\W+/YT/?DF2_JM)E-E"8I[F
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MNJ^_WJ+)XL&H0&GA9<^5*U#MA]S4<56+K#22M!]AIT'PPLPI'T0]H3A.O^"
M+.AS/G/@"2=P075K:$IF :WPE<A&;D-<(A"IA\$,X_M?.;XQ'^\6R 7+8'^8
M/Q'3F'%4G-(H#'B=[(I?/].)IM4@FA0#7@7:Y*ELW*ZEN-(^)6?@6EXU9>EJ
MMO!G\CZ!/W5[UD)GU/P90=:B';S&OR<VL8T1VXQC)\']6\GYEB991I)=)<4T
MC'":ANN0!(,4M,CH'X?P!4?PIT9CJ;B.LLV4W,]Z?2Z @WA[TX]_00 7"D^
M>;(?JM^$&B.TAC49\]L@)S1-'QE:L$/V_H5D6QI4 !G'4T:(BLT>EB;[VL88
M6E#>\FAN[&!&C":$DL;).3T4$J@Y5$R&$<%)S&_0AEM*%3U$_R0P>!_R3<3
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MC45,51[RD KX#VL& =IR$/+;,N,T2PYYTS,[^*QQF.1O>&)FU<]&C7T+_R(
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M\-J .H]!7<6@'XNA'M!H\&*@:X9^FC?G$:I'J!ZA>H3J$:I'J)8AU+J'6=>
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MKJ+)\6:<QW*8!S2ZW0ZR*;HT:<BC38\V/=KT:-.C38\V+4.;YL=8U^CS[9N
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MQ1^I?%6O>L TY:UE2C-<VAJ6,': 4W+7P=W^'#6U-P+J-S39?,CD23YFB8
MJYBM)0[82%AY=PM>QUO:G+&T0>[TT5F-V6)2RYL"O2FPUZ9 +99B=0!*?^2C
M@RZL!B!P73I <RD(];EN+32:*;4.']<E!)PM,*7.=6&TN/$"3!ZN&Z-;E9:Y
M8:0_XH/M3:9JE.ORZ<C3XV*8O_?T-+: =.[L^3$0XB:/HOU'',RV2EY J-#M
MLES-,_/]P-OKSA5D2I/W#!V19;5GZ*5'=3O..WO%<#_*YG&2AJUY0Z$SAD+G
MCAUOA_-V.'\1RB/0VK%&M<ZRSO'H3^*P%S.7SK&@$<NC?[DDFP<YY*N\\C83
M)V&NRP>,!@)8!Q&1OSUD\L> S8(59U+[- .N9^BX.X1[-N([NK%T=7]TII]^
M: R#3>@93A7T[#_X&U3NJ0J[C!_7V]62'BCEL-<WM%4M8;6,3-TS'/HZMC"7
MR8NM*\B;,,JB-K*B'2!U83O8.80<U_M#:$"CTLEEJI'7:](.T=Q>X+,I_7U)
MQ-].;>]VZOF8RM'(F+,0XTBF5#G=,=8:-HU;L(-Q_XR*7<^HG(_M*7HVG]60
M2G79FZ'D(6<OX6FA;.$X3>2_CK4M\=,AI%$]QJ@KU@VA]WB5\7"!$CR8<YPK
MW\=$E>IJM>HV-)</"+\C?V4DPI_P,PG9Y ;?W]W@ZZ^JZ%9@A:8/!PE<)M81
M_;S):7:/2/R$RN<JM'A3DA;9PX.2@-./C9].DN_'+@B:"%%S/A>;S6<4YMRI
M'TT"5KF,5YV*WJII:;7#&Q0O"<63L?+I&56)AAU_Y&B6XG"AZK;\>Y]=D)\S
M<1).4HSES!?(4YS-H4HZ^K(-B1ES](P(5[](I"C@W;"F3S^58I5-&DTY[1*A
M@?PW1EQ4_'&;\$QL06,LMDBE4:7]AKMDLQ667H_\,2=BIUBI#[TV6NN0H9_.
M->T #7?)9BLLO1[YK4X[56M-&7JMUP=?Y7V]*4<T63&>HHAQ=(,_HN0&QY_%
M#WB"E*3 *S4FCSQD8M4)34A,"]$-^D()8FK" ,4;DO05Q1CX0J2V:%-2L,!V
M.+[&<29C'=0#IBGHP[1\F%8/P[1J^8Y9+7]LCT2E=M<R,T]H?V3B'P'TCP!:
MDK[/T/WGNF2TG@?6R+[ONGC\$W?N/G%GJ=2@SPAIHKI<%P,4$)G[AWI]_;9^
MN&:/)DQ-9:-FH$NO+S3W_C*-_E4AM4<5S+N+;X_!8DY<'WX(OJV*@W#], 'R
M#[)?NBZ+QGBUU\\+&P R R] CZ12$W7  Q'!LG+Q^4*C2''73QT#>Y/J&J#K
MJ+/NPFDCQ*,_LJMY4%7'Z_5G3P:OKN-+K:XC^ZY65V4$B.OG55="A$8X@>5I
MZ0NV'<FS-+P*++M?+EMV[2SH7R];B*TO:.MQ"$ E-(Q8Z]$)K)--99A\CPY1
MG1RJKG.X?O8U=!17W3KMCS)L'N:CBP9V?=H8K!Y@K&N/@)#6+PR_/=DC9*.3
MBM%%5[!<?G->+M#K<JXO()\]L%;VP"9Y=_8BZRB%X,\!VD;A!2D+'C(AA0 %
M3SB.<!2LR H'DM0T(%3\F*1!0L0\)VA+-BQ?8-->NDL.V ZE/BGV$5E69[H[
M7+S_8(2F7\7HBW\99]S25;:#W:.([1=$F^6=JJAJ!ZLO"*S,9Z,LV><< >/!
M:#S!CYB+75!YS[.BD+^>;]CI'_DQ,A:GB'PA1JBN?X@C9%*<("KYP^OXNX'^
M;F /;TY -NFJ*TG:4\IU 0$MAIHCKC_&P<II4F-'=5TR/FR[.FQ;BW!<#W/Q
MAIQ:AAR8.M>YR>:7X"%+!!=)_G3! RFL^(8O.&@:Z<[@ B+$VU-<LJ=<;0;T
M^F \*Y5O704[V#K<&LHH-K46 =NP@_DC3%U&NYGM2-]"TY202)Q"::K,"%GV
MN<_&G@G*(I)[K23R+6["*M/) @I[XX_3@,C;5[Q]Y5AQUI[#5686Z(;NNKB
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M'JRW1L+LS,G2@UCOC@0-MHGT( BZ(Y'6\.3W(+"X(^&:6\)[$+;<V:9K'A<
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M6)VW 2YFMR,*08__]6?. 2ZQG/%Z*%R.E@H2.*D CSGU9TII8\I5SXCW!SO
M5I5ITK[^R$<[1:JSW?8'?H/7RO$3]_#MPM+)4+ES C*S@ 5@#$=2<5CAN\Z%
M<,KG41ADO9=%SG>NV"\G^%L<Y]M:;9*248*Z\VVREHG$,#'6^4S.ULNE-#_7
M^>))+).'63[;\[G3+1.++L/=^5S*E@G"*./D^;PO-DFEE<?!SF=(M4E49TA
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M'/%W>4ZF!< L?K[58J=(:OMZSG>TVBDHN*/H?">/G9(!!&)T'3#V<S#;SN9
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M%Y-W='A'A\&CG0 SXF5<&;=*>;R,"^D-M,'+N*1^=BOM95Q>[\I5T+EW^%U
MZ"-.TGS1B+_%SS1D-&$QB:3:%(@F5H@V=@TW[Z<[OW!;M'JG\!%95CN%=T=R
M<K7^C):XTCE05=A.=C0>@NKB=K!T^+CA)B?R&'$)E,#O6*NK6<)B+.-0!*%Y
M8H_-[<-J[G0U+&9,,R<!=>Q@[@8_I!,<2N,!J7QMZ["8;>[NP\1@F#SBZ(.
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M@6H$% 6:=[O"*6?QBW<=*ZD E&],%*<D6XI=ZDM"EF*F*:>EKF0[A%2)H[1
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M;'!1.0^5S3,0PH7C.G)NDO\3+B77H;1!KLB]4#IZ1NWG &WO8@8I"QXRP6&
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M;?&Q+7OF#:!^5=P&%&GV1UPUT-BQE0, <ER7%S!  :9F]B=, ;+6P"#,=;$
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MN;TYF'JC[<Q3VDE?EZS@O5V#-$7/&_?T/8Z1)'O*MA+*V=VP@&BHSJ%CTDA
M?VW/F)HD5DTRNXAJ0[P"1H<81WG,W9ZP_:.!"A)C)"#$C,@HD=]Q',D;@V+/
MEZ%G9027& Q?H?/F"1L*>B8LCH:[47R)?TX9!55K;\U<GFD\#^)">6BDF *C
M=(%YON#RG4IBW*W(D]$,.CN;M]G>B);9?;O!9-7F_2YQ88]-^!V)T9OI>VVF
M[\@*Y*(-S%N!7A=PG6%R_58(EXHYG6[*6B'C,\"&,QAH;95>/:3LNML#O'9M
MTCG/<%G$REG9D@7DC)=)9+X>ZX1EEP6N:]_#V[<!)_-%RF8RQ ;E3 04IP&B
M41 +,> @)NB!Q$3>"0[P(XOSMUWDPR&G%>OX'<Y*06<^APZX\/X&E_P-.0[%
MR79CJ'XN0UW62F9T#V94E;:#H1LL-H"0Y,O_?K?\"GJ5?%55LBT]-IBI$T9J
MN83*\B33*)-O@:'X*A/GL[PK/XZ14-MH)#2[S?UP^=9>?O5;F4.Y02L-&;@3
M6[?HYIH\DGWG*CH!A9NF^3T:J$$89LLLU]4.)^8I:<"*P8^N$/I3MX3N]& )
MYK;AR;6I+VVM/0,\D(KM97*)>C<&DU#E7VC<9&L)H4THB3?2G@F2L-!S&C)V
MTMS9F)(:AIY66>IL*]: A'.M1=GXX$'>60^!I!R7/@=!442 B^1%\;/.E>O<
M&AJN#Z;I(,\7EV?X@E%:W<99R=_MAS!*=\7/MV7*;H8TY%)IN\GPE)4E)H11
MJVWFK*+=[<@P8G?%ST;4X:X*7]Q5M7P @F&G7_&"A#%./F2<YMF8!&C]0)[S
MO$PJ; NO<Z[H@;-:5P"1 QU8=_H>-7!>$?J(@5Y'#,!,9<S0".6Z5* )3'76
M1=<C*L"SP\1.X_IE(Q.A-#>RN>[8-I&6*1QR?7GY2WL^7$N3[A5LCCF?-%9Y
M&GQ!*D\["S$ \:T6T;'][GP;1;=)!QN*Q=AH<KXMQBFYF1GQSG=B.R4TI8VV
M/U%C#26DMKB>,5+,I2FDM)N"Y6.<<;@X[&ZI,Y/HV$_4)TP,145Z.W:_T5$E
M_^4B X8J]!4XM2<QF ^[KT!*)\=Z(5Y]15 MSSI02$A_T59[TH1%#IT/E+T^
MZ&CQ!*F+1\P?A^CTTD/]G4\7!]KAQ82R1*%X^_A2("@4! <Q>10_LUFPXO("
M<KH.5M)DG;L3\=94W48"_W9Z?JW$_&U2[R\@')%E]06$*Y:F;#F:W<L<:9J(
M_8JR=C"S\\J,-[-VZY_:>:5@%RQ U>U@64FJ9BR!]>Q@,I]PE4-W4L(BPG47
M8<H*V4'^E*U@.X.J8,-(KYV?64S0X5(<18_Y$:8,08.5;_KL@/GUE*[NHEQ>
MH.*7'*[<2;2BW-%.23&I=<9(RFU"!>W\:=!(1X\TM ,@JV,LSPU<>QQ;>4;1
M^9C*2XNIA*'CDX<#P6BS/R([1:4,!OQ<%X%IS*F!PN6Z3[#)@C*$N*Z+"CB+
M%+J?Z]R#MQ&M6<;UX$JP)*K5T/Z(H=;.X6.U3:356.5R?;9U%,]MZ>SQ\=SZ
MR"5S*TJ'WL'B-F&0X'G^3T)GC"\+IR['\A'S_'' 35)BH19O"M9,3M:\G^Y2
MD+5%J_?S'9%EM9]O$,?YF379C*G&H%]=W Z6KHLTB3*/JBIM;[6[SZR^;4SO
MJ=0E6M-6L8.U%U$H-!HLQ8Y$DOR?FSRE2A;U58.WEC%;.M\@3]QK*MG!W@="
M9=K889[+OR114$5)VT9*8)L9267NURLL#DP\1<]57O7CLO:R(S.FC[:'_4!H
MA(]Y4@4 <XJ:UK&:\7"!$ERA^0T%LJ)S(E\!+#+SRD-OND#T(V/1$XGC(17P
M-K\;M6UCJ_T=IYA7RZU3,FP;A/L=L@1"#UT%6]AZQ#13GTB;[[8E_-R*M!(8
ME16RBWS-%+)YXDP60NG.MX+-9IKG$& 2O.26I7\P0M.O@OK<TE3X;;%\G^)+
M(C9;N6.DZT\X7;!(S7YK702_M!1'(*DHCOCB8"PZ&=);Q*GT9A0O=@@PPV(2
M2:?T-5NN$"4YO47%TW.WM7;K[9DE;'Y"%,US9?LKP4\'=VB&5$*;T4P^,E(2
M[@"KUP69I4CZWXI4K/7:Z8*-_&C<091BH#>:0/(9EX0$U6^K"W;D0P*B[X^8
M"BIB*<^(+ DE,E1?H*\=.49\01L]$X-'$M61?E2\-:(N+V9NFCVHL_B5?#Q;
MNK[FEDA(4KZV[)T]#@]K35 ^&.Q2@L$,;:>LCD&R/^(JU:@85&5Q70[ .!ZU
MVMF?4![51*@Z>5V/)#!9!A"_D^NQ!2;R@!G#7%\?T'#1.@X[UV73TID+=QVY
MOMWXP"4[ Y>Z35<"?==18:<_WZ[QB/D#LT80IF:6\VT.ELL%:I,]W_[ADH ,
MK+]@@<%S^C@HL+JV6+#TC//XN"0]0PL]6&C&:7SL$EJ#T VPB'[IBXBT<4A@
MD?SJMDC.YE4%"_ W\^QMW>6KA,ZG\SGAX=C4&*/;-1.-XNK@4G$<LML26 87
MN..Z0),P8SMNO*32M+S[P@N5-PD>UL$2\6_8. %>BUV]\KV7>N3ZJR]'9%E]
M]65SX54>NA/,'XE0&2K#'S7EK65*G_&MNH8=C/G VEX'UI8$"/V^CKBH*XY\
M*N:HF)9)X>(8LR?,"XN(W*M5$4NUJC<D>?\4VA8MJ:C3E6Q(R(C(=C\B93R7
MHH /FNM5T)PIC*D=-U</+UUFZ)RQK'STW(5$SUUV.!@<:1_;@"#XU77I^&"Y
M;H+E+.4>./P@'=5U61AM%#JLZWI8DZDP&JA%KL= F8H*IJ.Y/H%\7)R/BVLQ
M+JX;?\:/@9@>C <A2X26?/@WH6&<13@2?^2_R,3521Z1)?-5BQ^3(J0FF!<Q
M-?G/*#H,J@GP-JJ&9G*]RR;P<A6S-<;U$H'90VYG?A7;6&[@F\E]\%P:4M^]
MV?XCD/\X\(=L?OYS<']D2SG]T-@O8T+/E8J>J]>AYWJ@H&?_H5MZ1BIZ1J]"
MS_!&0<_^0[?T3%7T3%^%GG^,%?3L/W1*SZ?_4M"S_] I/?>J^7S_.O/YRT1!
MS_[#V?W4WG?>NE_P(V9SCE8+$@KEB&-4[=^L+&TI0QJ/IZ:\'4Q]SL'1:':[
MA49*=DY*UO.CEWDBI=X,DRZPM/=1MN4TM >C QR/]A![&<Y+B^3M': 7X@"M
M!@K,^ !V73) KP\ 7_7'YZ.=(RJ+B^N&^AHB.%9"7;?6UQ#!L9YYOGNEUHK@
MV%1SOLNAUHK@V/IQOJN>UHK@V.![OJN<UHK@V*9[OJN;]HI@4%,$\,N7MHO@
MV))^QGN3ULK@V%I^QEN2ULG R,SD.F[N*+K#4LCLHSO,HCNT9N#.[ZW^%CPP
MSMF33"\0/&$R7\B7R=$CYFB. T*%''&2!ES>GI=&I(/2M2ZOMM=?=S=8VZ;9
M7V,](LMJ5]S5;C2'FY&^%P.M]/14%[>#I9/G?$]O>Y:_[6P%X=J';)3/N[\V
M^7]L]HY!L75H^*@L[9UTK=WL:V][AUSO:_LPZ;N;K$V!>3_7A?BY-._5JT\(
MUT4 =&@ICG?7E7'P!  <K:[+PALF[#1,=,^_QB8!45BZ-DN\>R/.[O_7WI=U
MMXUCZ_XBK=6IJCY=>92GE/LDD9>M5)T^+W?1(B2S0P%J#DI\?OT%2,TBB(V)
MVJ#X4A7; +CWAVG/J$$5T3"B(#(7P/>_$S]$=74T$?N2)M%KDM8%-4VL$NX^
MUYE1PC7)@TTB))O$;2KFMBYM213%CUK:HF1&]:IZ6VMD#'W>[SK8%$DZX&#K
M;G.V3*.?FZJ+=<G99S)C"YKP>^R1U@5#)YDH&2IEUW0@=#!LI^N]6HL0?H][
MC'[K+VM_Q\7:KCKR,TFK&MQ3)HHG,\IO5+[Q*H>E^$5&WOB"3-:D\75,9^.A
M 47X9<D=J?\_?<M8N7B[*7,N,N8YI_\UH?6+-?I+P\7@V!Y5E_#TE13W/V=O
M0N<\J(_O##+-X;&!=G"I*>YV:4M+V^\>JE<5,<#6S@CZ64W9Z<3?E63*QC%;
MB>TQF7\E/S:5ROE!P_4Z&D=9W&!U=C*LL\RD4VIR4?.:\J'>U<BW]W!-&)@>
MOV2T%K2$M'9-$!?"UDE>/7!&XW&:LA_BJ08X7*#^KHD6YR$7&L%$-K9W1]3!
M$?*0_"0Q>,5!.GHA\Z!V_:8LCPG-L%$\,0 _9]3=W)/X[OZXMQO:V9$_N)4]
M&.@ 7F77UL"^.Y4=XC7XE*_$I]QF1V6:%LH>HB(S73(-!2]T6*#O*8/,O:$[
MH/76B*GL&[JCVA%*K;)K?[)2+3&":R3]R6+5ADQE] K]7-(]I&5NT]!Q $LV
MEI:='I[0<)RN[5R&(]-B=NOAX0O'Q;X.-OJJ @:H]/%@&0J#XXS07)$L83'_
M?H;O=6-P*(D_Z03K([%^G.?^#IG <+2*V^C38:6&SSXP*'0)R.Q$,P@&]"<4
M82H@X-/7!T90NU(37@3=!<> T=,N\E1+(?<T1H*@0<QGYUDCOXYF959Q&.U,
M$I4#;[4S5]CGBEA^I+L,$2>$#GDA)V2AS@L9S_Y3\IFMA+,6N:T20O8FO!,N
M;8?#]D3XSMQP8+0$96,TM\?!E):V YUO%X.BAF>:133G#.1;#]!MQ94M0)K#
MXH#H2Y+/2)I&E+#RE%)%G#:\*PY6H=-[>I A2\\Q90-9*H[>6@M@>>VH^\9%
M<^@DM74:T=]-.&P(3QS'<75]1^E^])./B1<'LSQJBC?4Z>TLAG0_]@/+;FL)
M%I"UH=7--M)4/,;PG.3?I=3(6@SQM<[B:RW5&TA4K1,-JO>QM+8H#1&TUQ9!
M*U&LF.:]'SHRNI%(;?IH#Z.1Y*M$><&&'AI@N&=T];+0W7*ZB\9 1@Q]7PUE
MP(8@$UT'C\(,TJ<MH4#"G4'4WT["Y&9U[3KP=T%A0LW2TG)%P2(N[>\>0D<^
MUK!1?J46!)_C7LODZ"\N!&]D@\)PWGD\PV\CCG"RKE]TG?,SD\Z2*!TE-.<@
MB7;YZ(W$"S(2=&3BU=<U2TM!C5EH@[OO=1?EX)KF(>#AA"S4 0^W4?[VD+(?
M?X@I5I:.;&F,@YU/?.I%D..$UC?8(WV(DNS/*"W)9%Z1'8OC2YS?X_PFRA.A
MR&XC)1.ZJ)H\4L)ETIG8$$+<DL+A\V,XX!04<D(?]V=!:^!'>W.L+"D6O:H#
M#K:>Z\-Y,C_>H[=,A%^6V\76\EX-K#\VCWY7;".+ )AR*O+-&=.^):4M$3*B
MV(@M;2U]I/Q8)LF"[DP2.WFH6@A9-)/7[M+N.CBPG3FPW4FN$%^V:SFY]VYM
MAX -'NXK\7#+KRNF=17T!Q&%3,WT1=70L0%Z_2'*2.B>&)UE8BZLA(X2<,$H
M1.704= ^9-76GEY[MX<"$H-OOV%7&!I*0C\]-!#R;Q;U=^[@=:T96JJZ=KG]
M^E^C<A7S7XVBZC'9:)4EZ>B7CURM_^5OLI+ _-=<9HF-?&XN/]B9T\T]T8/7
M[80LU%ZW_9.1^RH=8U'/:Q_T<W?PAN29*138WS -RB/?#1%,K>9K50<<;(DC
M>4QC\;][/@'K*!4*F-G46HR% XSFVK%F8!B,A6[-UV=0/F5%E')!IVE%*QP?
MVB/@8/PQYBLWF2="M=@4*A13)42Q@TJZ]:4FY5UGD-&O> $XJ)U<<6&V'ZQ'
MQ ',E^C?C<M8E34/ZH:#Q:^,1O&_RUP4/[I?5_:X>4&XFK-BF?C=4Z5HM-Y]
M^D-@95TQKZH..-AZRAC7#HOWIS2B!;^AQ>V\$B*]V5:V&\XVJWT_ZF3^^/1R
M.Y'YMU4M+0DYJ"*O Z-!3Q>$&LHSNMW=52\X#'[7HA?8T1VEUQ?7\!?+OO,#
M[S9:)5RNTYP?@\Z^PC!<VC( <1CN32=]#\1PBM@0B7$ED1A*RPMSH*+V!RX#
M89WIR\"AXP7TQ,.L?J&[U/3V&E@6#QT6X!HQU8Y#A\?=D:-C3ADB/89(CWY<
M.^<LGJ;X6IME0C]B=/+)W1BD^W2\-")FH[+WZ?11+"=KYV?O2SD86SZOKUJ#
M:9"$A\(-*)&R,/."(8*_VH$5(CO+/1BHW\,&RFW(!ABUC]I5BX2!"AUF-D$.
M'09XCF;\H&!I(FS)\2BI7IG:&YNW9*FB-F&C=!&*J4/)$%]Y0A;N^,HH3V9<
MD+Q+TI+/[7V442$'B*CT)Y*]O/%-*W7, _IB>Z %0/(#/Y/VL>(3KN/69D8;
M&%1CX@#GEN7%9%Z5NY4R>] &7_S@!ODMZN/7O$K5DS*CZH"#K8<J(9P(Y.7S
M<M@(W<1LB#M^?E+&0M,CE9=FX%,F-G/U-*24_(,VZ,(K*TAW,I9R7RC:8V)J
M_Y:GUID-Z3RB'W%Q7"E8&X)OWA]*.A-T2GEL;H[N<*C(/-K[XA!KYTK:'!%+
MBM.NH0T.XNLC[/#]VZ:(S$V3T]>7PR(>V3&]IVQ<%%GR6A9"S9TRY7D-[8B;
MS:^,[P9:<-4SK>HS%(0KL"TBC^8XV%01&?F3'Y1DXGF!REZBS?UQ=[Q,WY Y
MR\0-#.!PUQ;OCM76&M5=<3-[E^2SFF@2:[/;WADCNQLJZ6(L,NTK,R.0UX:>
MV&96U'NGI5Q6.?D[#J)?2'6^?R+\O(O2,8W'\3*AB;CQ1"V$C> KY0G6'9T.
M4-DIJK=G-DML,A_G.9LE7%<3->G_R1):_,E/_I)?>IM7Y4G\P+)OHF"$<!47
M[U](\<;DB83N/X$#NK](LGCCE([7?,87I&)3OHD;6YN)NPTY BTV0R+,4>.X
M(=(?T,G9TYB ;P&O/#>#6;*S'[HBH^GVD4C99IV=D:M'GS>"="'K!"6Q?FH-
MNA80ZZ/GD6[7UV1>JP([S]4M6ZXBFE2GV,X"=$Z\FW'-+OG^)WR%%1 )-XH.
M^3Z]SO?I*"XZ@$#7(2ZZ.?X)?@WW  T0LTRI1'K8%Q>*^M('I,V5[B_,N]NX
M+GU46MRH'L*[CQ?+M-.7^O2Q,;19]"#46Q\KJ7^M/^'=AJ"H7<(>XKH#.7VT
M3;<>XKOQ[ZV62)W^A'$;P](<@^4O4AOQ0H$$:\!%0&UI&.=IX\W"!$<2KY9I
M(!1Y<E? T>R=# [PO,/1Z:LP;A1""(=-6Q8/9U%! Q[Z9#23&8UT'"4],!L!
MV6U9.)#0$7\+I]M-9H>6\78*M72 :4"DOWU5='>'&3 /@JP]GM#C3@L?.F @
MJK]]N2;9*PL/Q=,H&P]V7ZP'%RPCS=^!=:$5HV2;:8=FP4\FN)T7OS+L+!<5
M#I^V#1@=?"XCU'K@:]%P=&O&P_5"T#($0'>;]E+2,L?.+/QU#YKWDA]'%3+V
MOV;ST2S*WT;SE/T /]>F,U87Y3_TZ1F*@)R0A;H(R+@JCEJ]A?S LCO"EXXP
MGXMSA<;CI2B2FE<_JI(J= ?"EIYV3/^IA1?(]FDWW$S6QZ=XB32?4'X>KU@>
MI;7_J<S$.5Z760+RKCD:1D#VE=Z /.\[X)YI45F,SI*4'.CGJLQB[1$P,OZ-
MQB)&2A@B2%R3?N0D!'*O&@9=986;B'Z?<!TYSJ)YD=^F49XG\T04ECLI&RH%
M #P".MZK^JCQ6@0>""?P9Q;1_$L4DRE[)JF08YZBK#6)$SH 3L[/*L,^SN^2
M.5<*^+^%(KO3\2;S.CPCB=(G5A<:;(?$9N33I[X'J.10_1T?5.(M[<H,(AXD
M?Z1W9):1*!>!/9O_O[QQ"8^KDTLN^0D^ZFB5-=F<H:UHN1H<+5R;*09ED,.Z
M8TLCAU&ME#G,AD$+0;U&C>>]H7L \]Y M<F\ X9!"X%.Q0A8]P#FO8%JDWD'
M#(,,@@W=KP57?<7;!;7?=S)_*5_S)$ZBC+,PR:IXV.U#,N1(H#8Z)GQ\%:5
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M1YLQ5N! @OX<6<98@:,10E]74/D+G+70GT,)JO6Y=/J$OIR,T(/[8/MS,NG
MXW+=(*U[8 1,NZ/.0V4"_)#H1%B  =*N&H88(+@#"PP/_E+M<'BT0@' ".&O
MN*YS&L."8T*_JG0%PRN2!U4V#T5>&Q@1_!7QX=L&$,( 7RE(;=GF0HPJVJF'
M:D$[((KXI] /5QL\5.%7H:L"NA=/:[&!'MX^+4Y6G6C9T-6CUF6BK/T4NN[3
MRCT@3+)/;N-S%H]=ZBTEI4*'0<DEH-IF7P],$"** B_]D;L@: "KJ/1'^(*
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M<+7K;4Q;'PH=&: #&:#NAN[BTE@C$'$L=)^7'AQ*\; _+F(('"T*2^C)HGI
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M1H2.S.!IP^EI0U=IV86*V*?-HH#+G=&M3WNL$31C)3CT @\09(S5)W^YKDC
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M\ (%6?5G68%WUFDN"]P^@]24:;U45"%>_=E+X$5RFF $7R1]M>*!HQ%[M)_
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M9TMUN_V;4.078!O^6AV'N%!7<:%V9E1 8*@+.VW?(T,M,1I"0WL=&MJ1DS<
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M[H#=L'5?9F[94@W8#5O_7+V[94LU8#=L??E)W;*E&K ;MOAG#ZG@.\.2+=6
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MC=$"C^W00>>IG/*UZZ,&SNEGT(%XL#TL,-(9!1L$0^K.D+JCD;K3<D+"DG>
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ML_'OMJ&?"5>/9U$]L5L#C[0JO+KQ$ :K^=%IM,R!\"N;VI)2OLK/P(8_=AX
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M,2YX;6Q02P$"% ,4    "  #7IY0D(Z9!*1'  #TS , #P
M@ %A(00 =',M,C Q.3$R,S$N>'-D4$L! A0#%     @  UZ>4(QJD5VB'@
MY^D! !,              ( !,FD$ '1S+3(P,3DQ,C,Q7V-A;"YX;6Q02P$"
M% ,4    "  #7IY06BH@IB[-  "(C1$ $P              @ $%B 0 =',M
M,C Q.3$R,S%?9&5F+GAM;%!+ 0(4 Q0    (  ->GE#@^?C861D! !'3#P 3
M              "  615!0!T<RTR,#$Y,3(S,5]L86(N>&UL4$L! A0#%
M  @  UZ>4-%G#X#CU@  ^KP2 !,              ( ![FX& '1S+3(P,3DQ
A,C,Q7W!R92YX;6Q02P4&      8 !@!^ 0   D8'

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>119
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790588208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 26 - Agreement to Build a Welded Pipe Plant in West Siberia<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesExplanatory', window );">Disclosure of joint ventures [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 38.9pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">26</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Agreement to build a welded pipe plant in West Siberia</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 20.75pt; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal">On <div style="display: inline; font-style: italic; font: inherit;"> February 5, 2019 </div>Tenaris entered into an agreement with PAO Severstal to build a welded pipe plant to produce OCTG products in the Surgut area, West Siberia, Russian Federation. Tenaris holds a <div style="display: inline; font-style: italic; font: inherit;">49%</div> interest in the company, while PAO Severstal owns the remaining <div style="display: inline; font-style: italic; font: inherit;">51%.</div> The regulatory approvals and other customary conditions have been already obtained. The plant, which is estimated to require an investment of <div style="display: inline; font-style: italic; font: inherit;">$280</div> million, is planned to have an annual production capacity of <div style="display: inline; font-style: italic; font: inherit;">300,000</div> tons. During the period, Tenaris contributed approximately <div style="display: inline; font-style: italic; font: inherit;">$19.6</div> million in the project.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfJointVenturesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of joint ventures. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B4<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B4_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfJointVenturesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>120
<FILENAME>R125.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6791245040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 19 - Borrowings - Significant Borrowings as of Closing Date (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Significant borrowings as of closing date</a></td>
<td class="nump">$ 822,152<span></span>
</td>
<td class="nump">$ 539,007<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_SignificantBorrowingsAsOfClosingDateMember', window );">Significant borrowings as of closing date [member] | Tamsa (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Significant borrowings as of closing date</a></td>
<td class="nump">621,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_SignificantBorrowingsAsOfClosingDateMember', window );">Significant borrowings as of closing date [member] | SIDERCA S.A.I.C. and subsidiaries [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Significant borrowings as of closing date</a></td>
<td class="nump">$ 60,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ts_SignificantBorrowingsAsOfClosingDateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ts_SignificantBorrowingsAsOfClosingDateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TamsaHydrilAndOtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TamsaHydrilAndOtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_SidercaSaicAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_SidercaSaicAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>121
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790279920">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 22 - Non-current Allowances and Provisions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock', window );">Disclosure of non-current allowances and provisions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">22</div></div></td> <td><div style="display: inline; font-weight: bold;">Non-current allowances and provisions</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 38.75pt"><div style="display: inline; font-style: italic;">(i)</div></td> <td><div style="display: inline; font-style: italic;">Deducted from non-current receivables</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(641</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">531</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 38.75pt"><div style="display: inline; font-style: italic;">(ii)</div></td> <td><div style="display: inline; font-style: italic;">Liabilities</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,089</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,438</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,571</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,261</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Additional provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,904</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,397</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,641</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,406</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,464</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,079</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,599</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,089</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of non-current allowances and provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfNoncurrentAllowancesAndProvisionsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>122
<FILENAME>R9.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790386800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>II. Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory', window );">Disclosure of significant accounting policies [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; text-transform: uppercase"><div style="display: inline; font-weight: bold;">II. Accounting policies </div></div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; text-transform: uppercase"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The principal accounting policies applied in the preparation of these Consolidated Financial Statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basis of presentation</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial Reporting Standards (&#x201c;IFRS&#x201d;), as issued by the International Accounting Standards Board (&#x201c;IASB&#x201d;) and in accordance with IFRS as adopted by the European Union, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities (including derivative instruments) and plan assets at fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of U.S. dollars (&#x201c;$&#x201d;).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Whenever necessary, certain comparative amounts have been reclassified to conform to changes in presentation in the current year.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Following the sale of the steel electric conduit business in North America, known as Republic Conduit, in <div style="display: inline; font-style: italic; font: inherit;"> January 2017, </div>the results of the mentioned business are presented as discontinued operations in accordance with IFRS <div style="display: inline; font-style: italic; font: inherit;">5,</div> "Non-current Assets Held for Sale and Discontinued Operations". Consequently, all comparative amounts related to discontinued operations within each line item of the Consolidated Income Statement are reclassified into discontinued operations. The Consolidated Statement of Cash Flows includes the cash flows for continuing and discontinued operations. Cash flows from discontinued operations and earnings per share are disclosed separately in Note <div style="display: inline; font-style: italic; font: inherit;">29,</div> as well as additional information detailing net assets of disposal group classified as held for sale and discontinued operations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make certain accounting estimates and assumptions that might affect among others, the reported amounts of assets, liabilities, contingent assets and liabilities, revenues and expenses. Actual results <div style="display: inline; font-style: italic; font: inherit;"> may </div>differ from these estimates. The main areas involving significant estimates or judgements are: Impairment of goodwill and long-lived assets (note II.G); Income Taxes (note II.N); Loss contingencies (note II.P); Defined benefit obligations (note II.O), Business Combinations (notes II.B, <div style="display: inline; font-style: italic; font: inherit;">III.27</div>); Useful lives of property, plant and equipment and other long-lived assets (notes II.E, II.F, II.G).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Accounting pronouncements applicable as from <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019 </div>and relevant for Tenaris</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">IFRS <div style="display: inline; font-style: italic; font: inherit;">16,</div> &#x201c;Leases&#x201d;</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has adopted IFRS <div style="display: inline; font-style: italic; font: inherit;">16</div> &#x201c;Leases&#x201d; from <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019. </div>In accordance with the transition provisions in IFRS <div style="display: inline; font-style: italic; font: inherit;">16,</div> Tenaris has adopted the new rules using the modified retrospective approach, meaning that reclassifications of the adoption was recognized in the opening balance sheet as of <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019 </div>and that comparatives were <div style="display: inline; font-style: italic; font: inherit;">not</div> restated.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Upon adoption of IFRS <div style="display: inline; font-style: italic; font: inherit;">16,</div> Tenaris recognized lease liabilities in relation to leases which had previously been classified as &#x201c;operating leases&#x201d; under the principles of IAS <div style="display: inline; font-style: italic; font: inherit;">17</div> &#x201c;Leases&#x201d;. These liabilities were measured at the present value of the remaining lease payments, discounted using the lessee&#x2019;s incremental borrowing rate as of <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019. </div>The associated right-of-use assets were measured at the amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments relating to that lease recognized in the balance sheet as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2018. </div>The difference between the amount of the lease liability recognized in the statement of financial position at the date of initial application and the operating lease commitments under IAS <div style="display: inline; font-style: italic; font: inherit;">17</div> is related to leases with a duration lower than <div style="display: inline; font-style: italic; font: inherit;">12</div> months, low value leases and/or leases with clauses related to variable payments.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div>  <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the lease term on a straight-line basis.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Lease liabilities include the net present value of i) fixed payments, less any lease incentives receivable, ii) variable lease payments that are based on an index or a rate, iii) amounts expected to be payable by the lessee under residual value guarantees, iv) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and v) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee&#x2019;s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Right-of-use assets are measured at cost comprising the amount of the initial measurement of lease liability, any lease payments made at or before the commencement date less any lease incentives received and any initial direct costs incurred by the lessee.</div> <div style=" margin: 0pt 0 0pt 28.05pt; font-size: 10pt; text-align: justify; text-indent: -28.05pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expenses in profit or loss. Short-term leases are leases with a lease term of <div style="display: inline; font-style: italic; font: inherit;">12</div> months or less. Low-value comprise mainly IT equipment and small items of office furniture.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or <div style="display: inline; font-style: italic; font: inherit;">not</div> exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or <div style="display: inline; font-style: italic; font: inherit;">not</div> terminated).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">IFRIC <div style="display: inline; font-style: italic; font: inherit;">23,</div> "Uncertainty over Income Tax Treatments"</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has adopted IFRIC <div style="display: inline; font-style: italic; font: inherit;">23</div> &#x201c;Uncertainty over Income Tax Treatments&#x201d; from <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019. </div>This interpretation clarifies how the recognition and measurement requirements of IAS <div style="display: inline; font-style: italic; font: inherit;">12</div> &#x201c;Income taxes&#x201d; are applied where there is uncertainty over income tax treatments.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other accounting pronouncements that became effective during <div style="display: inline; font-style: italic; font: inherit;">2019</div> have <div style="display: inline; font-style: italic; font: inherit;">no</div> material effect on the Company&#x2019;s financial condition or results of operations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">B&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group accounting</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Subsidiaries and transactions with non-controlling interests</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Subsidiaries are all entities over which Tenaris has control. Tenaris controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is exercised by the Company and are <div style="display: inline; font-style: italic; font: inherit;">no</div> longer consolidated from the date control ceases.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The acquisition method of accounting is used to account for the acquisition of subsidiaries by Tenaris. The cost of an acquisition is measured as the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed at the date of exchange. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at the non-controlling interest&#x2019;s proportionate share of the acquiree&#x2019;s net assets. The excess of the aggregate of the consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 113 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Contingent consideration is classified either as equity or as a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If the business combination is achieved in stages, the acquisition date carrying value of the acquirer&#x2019;s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Transactions with non-controlling interests that do <div style="display: inline; font-style: italic; font: inherit;">not</div> result in a loss of control are accounted as transactions with equity owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When the Company ceases to have control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This <div style="display: inline; font-style: italic; font: inherit;"> may </div>mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Material intercompany transactions, balances and unrealized gains (losses) on transactions between Tenaris subsidiaries have been eliminated in consolidation. However, since the functional currency of some subsidiaries is its respective local currency, some financial gains (losses) arising from intercompany transactions are generated. These are included in the Consolidated Income Statement under <div style="display: inline; font-style: italic;">Other financial results</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Non-consolidated companies</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-consolidated companies are all entities in which Tenaris has significant influence but <div style="display: inline; font-style: italic; font: inherit;">not</div> control, generally accompanying a shareholding of between <div style="display: inline; font-style: italic; font: inherit;">20%</div> and <div style="display: inline; font-style: italic; font: inherit;">50%</div> of the voting rights. Investments in non-consolidated companies (associated and joint ventures) are accounted for by the equity method of accounting and are initially recognized at cost. The Company&#x2019;s investment in non-consolidated companies includes goodwill identified in acquisition, net of any accumulated impairment loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Under the equity method of accounting, the investments are initially recognized at cost and adjusted thereafter to recognize Tenaris&#x2019;s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris&#x2019;s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated to the extent of Tenaris&#x2019;s interest in the non-consolidated companies. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment indicator of the asset transferred. Financial statements of non-consolidated companies have been adjusted where necessary to ensure consistency with IFRS.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">The Company&#x2019;s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income Statement under </div>Equity in earnings (losses) of non-consolidated companies<div style="display: inline; font-style: normal">. The Company&#x2019;s pro-rata share of changes in other comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 114 -->   <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">Ternium</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>Tenaris holds <div style="display: inline; font-style: italic; font: inherit;">11.46%</div> of Ternium S.A (&#x201c;Ternium&#x201d;)&#x2019;s common stock. The following factors and circumstances evidence that Tenaris has significant influence (as defined by IAS <div style="display: inline; font-style: italic; font: inherit;">28,</div> &#x201c;Investments in associates companies and Joint Ventures&#x201d;) over Ternium, and as a result the Company&#x2019;s investment in Ternium has been accounted for under the equity method:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Both the Company and Ternium are under the indirect common control of San Faustin S.A.;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Four out of <div style="display: inline; font-style: italic; font: inherit;">eight</div> members of Ternium&#x2019;s Board of Directors (including Ternium&#x2019;s Chairman) are also members of the Company&#x2019;s Board of Directors;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Under the shareholders&#x2019; agreement by and between the Company and Techint Holdings S.&agrave; r.l, a wholly owned subsidiary of San Faustin S.A. and Ternium&#x2019;s main shareholder, dated <div style="display: inline; font-style: italic; font: inherit;"> January 9, 2006, </div>Techint Holdings S.&agrave;.r.l, is required to take actions within its power to cause (a) <div style="display: inline; font-style: italic; font: inherit;">one</div> of the members of Ternium&#x2019;s Board of Directors to be nominated by the Company and (b) any director nominated by the Company to be only removed from Ternium&#x2019;s Board of Directors pursuant to previous written instructions of the Company.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Usiminas</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>Tenaris holds through its Brazilian subsidiary Confab Industrial S.A. (&#x201c;Confab&#x201d;), <div style="display: inline; font-style: italic; font: inherit;">5.2%</div> of the shares with voting rights and <div style="display: inline; font-style: italic; font: inherit;">3.07%</div> of Usinas Sider&uacute;rgicas de Minas Gerais S.A. (&#x201c;Usiminas&#x201d;) total share capital.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The acquisition of Usiminas shares was part of a larger transaction performed <div style="display: inline; color: black">on <div style="display: inline; font-style: italic; font: inherit;"> January 16, 2012,</div></div> pursuant to which Ternium, certain of its subsidiaries and Confab joined Usiminas&#x2019; existing control group through the acquisition of ordinary shares representing <div style="display: inline; font-style: italic; font: inherit;">27.7%</div> of Usiminas&#x2019; total voting capital and <div style="display: inline; font-style: italic; font: inherit;">13.8%</div> of Usiminas&#x2019; total share capital. <div style="display: inline; color: black">A shareholders&#x2019; agreement governed the rights and obligations of the several control group members.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;"> April </div>and <div style="display: inline; font-style: italic; font: inherit;"> May 2016 </div>Tenaris&#x2019;s subsidiary Confab subscribed, in the aggregate, to <div style="display: inline; font-style: italic; font: inherit;">1.3</div> million preferred shares (<div style="display: inline; font-style: italic; font: inherit;">BRL1.28</div> per share) for a total amount of <div style="display: inline; font-style: italic; font: inherit;">BRL1.6</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$0.5</div> million) and <div style="display: inline; font-style: italic; font: inherit;">11.5</div> million ordinary shares (<div style="display: inline; font-style: italic; font: inherit;">BRL5.00</div> per share) for a total amount of <div style="display: inline; font-style: italic; font: inherit;">BRL57.5</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$16.6</div> million). The preferred and ordinary shares were issued on <div style="display: inline; font-style: italic; font: inherit;"> June 3, 2016 </div>and <div style="display: inline; font-style: italic; font: inherit;"> July 19, 2016, </div>respectively. Consequently as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>Tenaris owns <div style="display: inline; font-style: italic; font: inherit;">36.5</div> million ordinary shares and <div style="display: inline; font-style: italic; font: inherit;">1.3</div> million preferred shares of Usiminas.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;">2014,</div> a conflict arose between the T/T Group (comprising Confab and Ternium&#x2019;s subsidiaries Ternium Investments, Ternium Argentina and Prosid Investments) and Nippon Steel &amp; Sumitomo Metal Corporation (&#x201c;NSSMC&#x201d;) with respect to the governance of Usiminas.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> February 8, 2018, </div>Ternium Investments resolved the dispute with NSSMC, and on <div style="display: inline; font-style: italic; font: inherit;"> April 10, 2018, </div>the T/T Group entities (including Confab), NSSMC and Previd&ecirc;ncia Usiminas entered into a new shareholders&#x2019; agreement for Usiminas, amending and restating the previously existing shareholders agreement (the &#x201c;New SHA&#x201d;). Usiminas&#x2019; control group now holds, in the aggregate, <div style="display: inline; font-style: italic; font: inherit;">483.6</div> million ordinary shares bound to the New SHA, representing approximately <div style="display: inline; font-style: italic; font: inherit;">68.6%</div> of Usiminas&#x2019; voting capital, with the T/T Group holding approximately <div style="display: inline; font-style: italic; font: inherit;">47.1%</div> of the total shares held by the control group (<div style="display: inline; font-style: italic; font: inherit;">39.5%</div> corresponding to the Ternium entities and the other <div style="display: inline; font-style: italic; font: inherit;">7.6%</div> corresponding to Confab); NSSMC holding approximately <div style="display: inline; font-style: italic; font: inherit;">45.9%</div> of the total shares held by the control group; and Previd&ecirc;ncia Usiminas holding the remaining <div style="display: inline; font-style: italic; font: inherit;">7%</div> of the total shares held by the control group.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The New SHA reflects the agreed-upon corporate governance rules for Usiminas, including, among others, an alternation mechanism for the nomination of each of the chief executive officer and the Chairman of the board of directors, as well as a mechanism for the nomination of other members of Usiminas&#x2019; executive board. The New SHA also incorporates an exit mechanism consisting of a buy-and-sell procedure, exercisable at any time during the term of the New SHA after the <div style="display: inline; font-style: italic; font: inherit;">fourth</div>-and-a-half-year anniversary from the <div style="display: inline; font-style: italic; font: inherit;"> May 2018 </div>election of Usiminas&#x2019; executive board. Such exit mechanism shall apply with respect to shares held by NSSMC and the T/T Group, and would allow either Ternium or NSSMC to purchase all or a majority of the Usiminas shares held by the other shareholder.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 115 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In connection with the execution of the New SHA, Confab and the Ternium entities amended and restated their separate shareholders&#x2019; agreement governing their respective rights and obligations as members of the T/T Group to include provisions relating to the exit mechanism and generally to conform such separate shareholders&#x2019; agreement to the other provisions of the New SHA. The rights of Confab and Ternium and its subsidiaries within the Ternium - Tenaris Group are governed under such amended and restated separate shareholders agreement. Those circumstances evidence that Tenaris has significant influence over Usiminas, and consequently, accounted it for under the equity method (as defined by IAS <div style="display: inline; font-style: italic; font: inherit;">28</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Techgen</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Techgen S.A. de C.V. (&#x201c;Techgen&#x201d;) is a Mexican joint venture company owned <div style="display: inline; font-style: italic; font: inherit;">48%</div> by Ternium, <div style="display: inline; font-style: italic; font: inherit;">30%</div> by Tecpetrol International S.A. and <div style="display: inline; font-style: italic; font: inherit;">22%</div> by Tenaris. Techgen operates a natural gas-fired combined electric power plant in the Pesquer&iacute;a area of the State of Nuevo Leon, M&eacute;xico. Tenaris, Ternium and Tecpetrol International S.A. are parties to a shareholders&#x2019; agreement relating to the governance of Techgen. In addition, the Company, Ternium and Tecpetrol International S.A. are under the indirect common control of San Faustin S.A., consequently Tenaris accounted it&#x2019;s interest under the equity method (as defined by IAS <div style="display: inline; font-style: italic; font: inherit;">28</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris carries its investment in Ternium, Usiminas and Techgen under the equity method, with <div style="display: inline; font-style: italic; font: inherit;">no</div> additional goodwill or intangible assets recognized. Tenaris reviews investments in non-consolidated companies for impairment whenever events or changes in circumstances indicate that the asset&#x2019;s carrying amount <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable. At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div><div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017,</div> <div style="display: inline; font-style: italic; font: inherit;"></div><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"></div><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">no</div> </div></div>impairment provisions were recorded in any of the aforementioned investments. See Note <div style="display: inline; font-style: italic; font: inherit;">12.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">C&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment information</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-indent: 0.5in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company is organized in <div style="display: inline; font-style: italic; font: inherit;"></div><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">one</div> </div>major business segment, Tubes, which is also the reportable operating segment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Tubes segment includes the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. Business activities included in this segment are mainly dependent on the oil and gas industry worldwide, as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling activities. Demand for steel pipe products from the oil and gas industry has historically been volatile and depends primarily upon the number of oil and natural gas wells being drilled, completed and reworked, and the depth and drilling conditions of these wells. Sales are generally made to end users, with exports being done through a centrally managed global distribution network and domestic sales are made through local subsidiaries. Corporate general and administrative expenses have been allocated to the Tubes segment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Others includes all other business activities and operating segments that are <div style="display: inline; font-style: italic; font: inherit;">not</div> required to be separately reported, including the production and selling of sucker rods, industrial equipment, coiled tubing, utility conduits for buildings, heat exchangers, energy and raw materials that exceed internal requirements.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#x2019;s Chief Operating Decision Maker (CEO) holds monthly meetings with senior management, in which operating and financial performance information is reviewed, including financial information that differs from IFRS principally as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">The use of direct cost methodology to calculate the inventories, while under IFRS it is at full cost, including absorption of production overheads and depreciations;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">The use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated at historical cost;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Other timing differences, if any.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris presents its geographical information in <div style="display: inline; font-style: italic; font: inherit;">five</div> areas: North America, South America, Europe, Middle East and Africa and Asia Pacific. For purposes of reporting geographical information, net sales are allocated to geographical areas based on the customer&#x2019;s location; allocation of assets, capital expenditures and associated depreciations and amortizations are based on the geographical location of the assets.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: left"></div> <!-- Field: Page; Sequence: 116 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: left">D&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Functional and presentation currency</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">IAS <div style="display: inline; font-style: italic; font: inherit;">21</div> (revised), &#x201c;The effects of changes in foreign exchange rates&#x201d; defines the functional currency as the currency of the primary economic environment in which an entity operates.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The functional and presentation currency of the Company is the U.S. dollar. The U.S. dollar is the currency that best reflects the economic substance of the underlying events and circumstances relevant to Tenaris&#x2019;s global operations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Except for the Brazilian and Italian subsidiaries whose functional currencies are their local currencies, Tenaris determined that the functional currency of its other subsidiaries is the U.S. dollar, based on the following principal considerations:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Sales are mainly negotiated, denominated and settled in U.S. dollars. If priced in a currency other than the U.S. dollar, the sales price <div style="display: inline; font-style: italic; font: inherit;"> may </div>consider exposure to fluctuation in the exchange rate versus the U.S. dollar;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Prices of their critical raw materials and inputs are priced and settled in U.S. dollars;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Transaction and operational environment and the cash flow of these operations have the U.S. dollar as reference currency;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Significant level of integration of the local operations within Tenaris&#x2019;s international global distribution network;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Net financial assets and liabilities are mainly received and maintained in U.S. dollars;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">The exchange rate of certain legal currencies has long-been affected by recurring and severe economic crises.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Transactions in currencies other than the functional currency</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuation where items are re-measured. </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when the fair value was determined. </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included in <div style="display: inline; font-style: italic;">Other financial results</div> in the Consolidated Income Statement, except when deferred in equity as qualifying cash flow hedges and qualifying net investment hedges. </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">3</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Translation of financial information in currencies other than the functional currency</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Results of operations for subsidiaries whose functional currencies are <div style="display: inline; font-style: italic; font: inherit;">not</div> the U.S. dollar are translated into U.S. dollars at the average exchange rates for each quarter of the year. Financial statement positions are translated at the year-end exchange rates. Translation differences are recognized in a separate component of equity as currency translation adjustments. In the case of a sale or other disposal of any of such subsidiaries, any accumulated translation difference would be recognized in income as a gain or loss from the sale.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill and fair value adjustments arising from the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing rate.</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-indent: -0.5in"><div style="display: inline; font-weight: bold;">&nbsp;&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 117 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">E&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Property, plant and equipment are recognized at historical acquisition or construction cost less accumulated depreciation and impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Property, plant and equipment acquired through acquisitions accounted for as business combinations have been valued initially at the fair market value of the assets acquired.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Major overhaul and rebuilding expenditures are capitalized as property, plant and equipment only when it is probable that future economic benefits associated with the item will flow to the Company and the investment enhances the condition of assets beyond its original condition. The carrying amount of the replaced part is derecognized. Maintenance expenses on manufacturing properties are recorded as cost of products sold in the year in which they are incurred.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cost <div style="display: inline; font-style: italic; font: inherit;"> may </div>also include transfers from equity of any gains or losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowing costs that are attributable to the acquisition or construction of certain capital assets are capitalized as part of the cost of the asset, in accordance with IAS <div style="display: inline; font-style: italic; font: inherit;">23</div>(R), &#x201c;Borrowing Costs&#x201d;. Assets for which borrowing costs are capitalized are those that require a substantial period of time to prepare for their intended use.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The depreciation method is reviewed at each year end. Depreciation is calculated using the straight-line method to depreciate the cost of each asset to its residual value over its estimated useful life, as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;">  <tr> <td style="vertical-align: top; width: 4%; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="vertical-align: top; width: 56%; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Land</div></div></td> <td style="vertical-align: bottom; width: 40%"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">No Depreciation</div></div></td> </tr> <tr> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Buildings and improvements </div></div></td> <td style="vertical-align: bottom"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">30-50 years</div></div></td> </tr> <tr> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Plant and production equipment </div></div></td> <td style="vertical-align: bottom"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">10-40 years</div></div></td> </tr> <tr> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Vehicles, furniture and fixtures, and other equipment</div></div></td> <td style="vertical-align: bottom"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">4-10 years</div></div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The assets&#x2019; residual values and useful lives of significant plant and production equipment are reviewed and adjusted, if appropriate, at each year-end date. An asset&#x2019;s carrying amount is written down immediately to its recoverable amount if the asset&#x2019;s carrying amount is greater than its estimated recoverable amount.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management&#x2019;s re-estimation of assets useful lives, performed in accordance with IAS <div style="display: inline; font-style: italic; font: inherit;">16,</div> &#x201c;Property, Plant and Equipment&#x201d;, did <div style="display: inline; font-style: italic; font: inherit;">not</div> materially affect depreciation expenses for <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris depreciates each significant part of an item of property, plant and equipment for its different production facilities that (i) can be properly identified as an independent component with a cost that is significant in relation to the total cost of the item, and (ii) has a useful operating life that is different from another significant part of that same item of property, plant and equipment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Gains and losses on disposals are determined by comparing the proceeds with the carrying amount of assets and are recognized under <div style="display: inline; font-style: italic;">Other operating income </div>or <div style="display: inline; font-style: italic;">Other operating expenses</div> in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Goodwill</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">Goodwill represents the excess of the acquisition cost over the fair value of Tenaris&#x2019;s share of net identifiable assets acquired as part of business combinations determined mainly by independent valuations. Goodwill is tested at least annually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are <div style="display: inline; font-style: italic; font: inherit;">not</div> reversed. Goodwill is included in the Consolidated Statement of Financial Position under </div>Intangible assets, net.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">For the purpose of impairment testing, goodwill is allocated to a CGU or group of CGUs that are expected to benefit from the business combination which generated the goodwill being tested. </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information systems projects</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Costs associated with maintaining computer software programs are generally recognized as an expense as incurred. However, costs directly related to the development, acquisition and implementation of information systems are recognized as intangible assets if it is probable that they have economic benefits exceeding <div style="display: inline; font-style: italic; font: inherit;">one</div> year and comply with the recognition criteria of IAS <div style="display: inline; font-style: italic; font: inherit;">38,</div> &#x201c;Intangible Assets&#x201d;.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 118 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Information systems projects recognized as assets are amortized using the straight-line method over their useful lives, generally <div style="display: inline; font-style: italic; font: inherit;">not</div> exceeding a period of <div style="display: inline; font-style: italic; font: inherit;">3</div> years. Amortization charges are mainly classified as <div style="display: inline; font-style: italic;">Selling, general and administrative expenses</div> in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management&#x2019;s re-estimation of assets useful lives, performed in accordance with IAS <div style="display: inline; font-style: italic; font: inherit;">38,</div> did <div style="display: inline; font-style: italic; font: inherit;">not</div> materially affect amortization expenses for <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">3</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Licenses, patents, trademarks and proprietary technology</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Licenses, patents, trademarks, and proprietary technology acquired in a business combination are initially recognized at fair value at the acquisition date. Licenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their estimated useful lives, and does <div style="display: inline; font-style: italic; font: inherit;">not</div> exceed a period of <div style="display: inline; font-style: italic; font: inherit;">10</div> years. Amortization charges are mainly classified as <div style="display: inline; font-style: italic;">Selling, general and administrative expenses</div> in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The balance of acquired trademarks that have indefinite useful lives according to external appraisal amounts to <div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">$86.7</div></div></div> million at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div><div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017,</div> and are included in Hydril CGU. Main factors considered in the determination of the indefinite useful lives include the years that they have been in service and their recognition among customers in the industry.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management&#x2019;s re-estimation of assets useful lives, performed in accordance with IAS <div style="display: inline; font-style: italic; font: inherit;">38,</div> did <div style="display: inline; font-style: italic; font: inherit;">not</div> materially affect amortization expenses for <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">4</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Research and development</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Research expenditures as well as development costs that do <div style="display: inline; font-style: italic; font: inherit;">not</div> fulfill the criteria for capitalization are recorded as <div style="display: inline; font-style: italic;">Cost of sales</div> in the Consolidated Income Statement as incurred. Research and development expenditures included in <div style="display: inline; font-style: italic;">Cost of sales</div> for the years <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017</div> totaled <div style="display: inline; font-style: italic; font: inherit;">$61.1</div> million, <div style="display: inline; font-style: italic; font: inherit;">$63.4</div> million and <div style="display: inline; font-style: italic; font: inherit;">$63.7</div> million, respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Capitalized costs were <div style="display: inline; font-style: italic; font: inherit;">not</div> material for the years <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: -0.5in"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(<div style="display: inline; font-style: italic; font: inherit;">5</div>)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Customer relationships</div></td> </tr>  </table> <div style=" margin: 0pt 0.9pt 0pt 13.85pt; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">In accordance with IFRS <div style="display: inline; font-style: italic; font: inherit;">3,</div> "Business Combinations" and IAS <div style="display: inline; font-style: italic; font: inherit;">38,</div> Tenaris has recognized the value of customer relationships separately from goodwill attributable to the acquisition of Maverick and Hydril groups, as well as the more recent acquisition of SSP.</div> <div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">Customer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight line method over the initial expected useful life of approximately <div style="display: inline; font-style: italic; font: inherit;">14</div> years for Maverick, <div style="display: inline; font-style: italic; font: inherit;">10</div> years for Hydril and <div style="display: inline; font-style: italic; font: inherit;">9</div> years for SSP.</div> <div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">In <div style="display: inline; font-style: italic; font: inherit;">2018</div> the Company reviewed the useful life of Maverick&#x2019;s Tubes customer relationships and decided to reduce the remaining useful life from <div style="display: inline; font-style: italic; font: inherit;">2</div> years to <div style="display: inline; font-style: italic; font: inherit;">zero</div>, consequently a higher amortization charge of approximately <div style="display: inline; font-style: italic; font: inherit;">$109</div> million was recorded in the Consolidated Income Statement under <div style="display: inline; font-style: italic;">Selling, general and administrative expenses</div> for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2018.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the net book value of SSP&#x2019;s customer relationship amounts to <div style="display: inline; font-style: italic; font: inherit;">$72.9</div> million, with a residual useful life of <div style="display: inline; font-style: italic; font: inherit;">8</div> years. Maverick&#x2019;s coiled tubing customer relationships amounts to <div style="display: inline; font-style: italic; font: inherit;">$9.9</div> million with a residual useful life of <div style="display: inline; font-style: italic; font: inherit;">1</div> year, while Hydril&#x2019;s customer relationships is fully amortized.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 119 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">G&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of non-financial assets</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Long-lived assets including identifiable intangible assets are reviewed for impairment at the lowest level for which there are separately identifiable cash flows (cash generating units, or CGU). Most of the Company&#x2019;s principal subsidiaries that constitute a CGU have a single main production facility and, accordingly, each of such subsidiary represents the lowest level of asset aggregation that generates largely independent cash inflows.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable. Intangible assets with indefinite useful lives, including goodwill, are subject to at least an annual impairment test.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In assessing whether there is any indication that a CGU <div style="display: inline; font-style: italic; font: inherit;"> may </div>be impaired, external and internal sources of information are analyzed. Material facts and circumstances specifically considered in the analysis usually include the discount rate used in Tenaris&#x2019;s cash flow projections and the business condition in terms of competitive and economic factors, such as the cost of raw materials, oil and gas prices, capital expenditure programs for Tenaris&#x2019;s customers and the evolution of the rig count.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">An impairment loss is recognized for the amount by which the asset&#x2019;s carrying amount exceeds its recoverable amount. The recoverable amount is the higher between the asset&#x2019;s value in use and fair value less costs of disposal. Any impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the following order:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: right">(a)</td> <td style="width: 5pt"></td> <td style="text-align: justify">first, to reduce the carrying amount of any goodwill allocated to the CGU; and</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: right">(b)</td> <td style="width: 5pt"></td> <td style="text-align: justify">then, to the other assets of the unit (group of units) pro-rata on the basis of the carrying amount of each asset in the unit (group of units), considering <div style="display: inline; font-style: italic; font: inherit;">not</div> to reduce the carrying amount of the asset below the highest of its fair value less cost of disposal, its value in use or zero.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">For purposes of calculating the fair value less costs of disposal, Tenaris uses the estimated value of future cash flows that a market participant could generate from the corresponding CGU.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management judgment is required to estimate discounted future cash flows. Actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived using discounting techniques.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at each reporting date.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris regularly conducts assessments of the carrying values of its assets. The value-in-use was used to determine the recoverable value. Value-in-use is calculated by discounting the estimated cash flows over a <div style="display: inline; font-style: italic; font: inherit;">five</div>-year period based on forecasts approved by management. For the subsequent years beyond the <div style="display: inline; font-style: italic; font: inherit;">five</div>-year period, a terminal value is calculated based on perpetuity.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#x2019;s main source of revenue is the sale of products and services to the oil and gas industry and the level of such sales is sensitive to international oil and gas prices and their impact on drilling activities.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For purposes of assessing key assumptions, Tenaris uses external sources of information and management judgment based on past experience.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The main key assumptions used in estimating the value in use are discount rate, growth rate and competitive and economic factors applied to determine Tenaris&#x2019;s cash flow projections, such as oil and gas prices, average number of active oil and gas drilling rigs (rig count) and raw material costs.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management has determined the value of each of the key assumptions as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Discount rate: based on the applicable weighted average cost of capital (WACC), which is considered to be a good indicator of capital cost, taking into account the industry, country and size of the business. For each CGU where assets are allocated, a specific WACC was determined taking into account the industry, country and size of the business. In <div style="display: inline; font-style: italic; font: inherit;">2019,</div> the main discount rates used were in a range between <div style="display: inline; font-style: italic; font: inherit;">8.2%</div> and <div style="display: inline; font-style: italic; font: inherit;">15.9%.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Growth rate: considers the long-term average growth rate for the oil and gas industry, the inflation impact on prices and costs, the higher demand to offset depletion of existing fields and the Company&#x2019;s expected market penetration. In <div style="display: inline; font-style: italic; font: inherit;">2019,</div> a nominal growth rate of <div style="display: inline; font-style: italic; font: inherit;">2%</div> was considered.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 120 -->   <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Oil and gas prices: based on industry analysts&#x2019; reports and&nbsp;management&#x2019;s expectations of market development respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Rig count: based on information published by Baker Hughes and management&#x2019;s expectations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Raw material costs: based on industry analysts&#x2019; reports and management&#x2019;s expectations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The main factors that could result in additional impairment charges in future periods would be an increase in the discount rate or a decrease in growth rate used in the Company&#x2019;s cash flow projections, a deterioration of the business, competitive and economic factors, such as a decrease in oil and gas prices, and the evolution of the rig count.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For the CGU with significant amount of goodwill assigned in comparison to the total amount of goodwill, Tenaris has determined that the CGU for which a reasonable possible change in the key assumption would cause the CGUs&#x2019; carrying amount to exceed its recoverable amount was OCTG USA.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In OCTG USA, the recoverable amount calculated based on value in use exceeded carrying value by <div style="display: inline; font-style: italic; font: inherit;">$108</div> million as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019. </div>The following changes in key assumptions, at CGU OCTG &#x2013; USA, assuming unchanged values for the other assumptions, would cause the recoverable amount to be equal to the respective carrying value as of the impairment tests:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 76%; border: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt">Increase in the discount rate</div></td> <td style="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">95 Bps</div></div></td> </tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt">Decrease of the growth rate</div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">-1.6 %</div></div></td> </tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt">Decrease of the cash flow projections</div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">-15.3 %</div></div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">No</div> impairment charge was recorded in <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">H</div> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; font-weight: bold;">Other investments</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other investments consist primarily of investments in financial instruments and time deposits with a maturity of more than <div style="display: inline; font-style: italic; font: inherit;">three</div> months at the date of purchase.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Certain non-derivative financial assets that the Company held <div style="display: inline; font-style: italic; font: inherit;">not</div> for trading have been categorized as financial assets &#x201c;at fair value through other comprehensive income&#x201d; (&#x201c;FVOCI&#x201d;). They are carried at fair value and interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold. Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income Statement. FVOCI instruments with maturities greater than <div style="display: inline; font-style: italic; font: inherit;">12</div> months after the balance sheet date are included in non-current assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other investments in financial instruments and time deposits are categorized as financial assets &#x201c;at fair value through profit or loss&#x201d; because such investments are held for trading and their performance is evaluated on a fair value basis. The results of these investments are recognized in <div style="display: inline; font-style: italic;">Financial Results</div> in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Purchases and sales of financial investments are recognized as of their settlement date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of quoted investments are generally based on current bid prices. If the market for a financial investment is <div style="display: inline; font-style: italic; font: inherit;">not</div> active or the securities are <div style="display: inline; font-style: italic; font: inherit;">not</div> listed, Tenaris estimates the fair value by using standard valuation techniques. See Section III Financial Risk Management.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;<div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 121 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">I&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Inventories are stated at the lower between cost and net realizable value. The cost of finished goods and goods in process is comprised of raw materials, direct labor, utilities, freights and other direct costs and related production overhead costs, and it excludes borrowing costs. The allocation of fixed production costs, including depreciation and amortization charges, is based on the normal level of production capacity. Inventories cost is mainly based on the FIFO method. Tenaris estimates net realizable value of inventories by grouping, where applicable, similar or related items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated costs of completion and selling expenses. Goods in transit as of year-end are valued based on the supplier&#x2019;s invoice cost.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris establishes an allowance for obsolete or slow-moving inventories related to finished goods, goods in process, supplies and spare parts. For slow moving or obsolete finished products, an allowance is established based on management&#x2019;s analysis of product aging. An allowance for obsolete and slow-moving inventory of supplies and spare parts is established based on management's analysis of such items to be used as intended and the consideration of potential obsolescence due to technological changes, aging and consumption patterns.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">J&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade and other receivables</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Trade and other receivables are recognized initially at fair value that corresponds to the amount of consideration that is unconditional unless they contain significant financing components. The Company holds trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. Due to the short-term nature, their carrying amount is considered to be the same as their fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris applies the IFRS <div style="display: inline; font-style: italic; font: inherit;">9</div> &#x201c;Financial Instruments&#x201d; simplified approach to measure expected credit losses, which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The expected loss rates are based on the payment profiles of sales over a period of <div style="display: inline; font-style: italic; font: inherit;">three</div> years and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle the receivables.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">K&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cash and cash equivalents are comprised of cash at banks, liquidity funds and short-term investments with a maturity of less than <div style="display: inline; font-style: italic; font: inherit;">three</div> months at the date of purchase which are readily convertible to known amounts of cash. Assets recorded in cash and cash equivalents are carried at fair market value or at historical cost which approximates fair market value.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In the Consolidated Statement of Financial Position, bank overdrafts are included in <div style="display: inline; font-style: italic;">Borrowings</div> in current liabilities.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For the purposes of the Consolidated Statement of Cash Flows, <div style="display: inline; font-style: italic;">Cash and cash equivalents</div> includes overdrafts.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">L&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Equity components</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Consolidated Statement of Changes in Equity includes:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">The value of share capital, legal reserve, share premium and other distributable reserves calculated in accordance with Luxembourg law;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt">The currency translation adjustment, other reserves, retained earnings and non-controlling interest calculated in accordance with IFRS.</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Share capital</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has an authorized share capital of a single class of <div style="display: inline; font-style: italic; font: inherit;">2.5</div> billion shares having a nominal value of <div style="display: inline; font-style: italic; font: inherit;">$1.00</div> per share. Total ordinary shares issued and outstanding as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div><div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017</div> are <div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"></div></div></div><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">1,180,536,830</div></div></div></div></div> </div>with a par value of <div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">$1.00</div></div></div> per share with <div style="display: inline; font-style: italic; font: inherit;"></div><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"></div><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">one</div> </div></div>vote each. All issued shares are fully paid.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 122 -->   <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Dividends distributions are recorded in the Company&#x2019;s financial statements when Company&#x2019;s shareholders have the right to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with the by-laws of the Company.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Dividends <div style="display: inline; font-style: italic; font: inherit;"> may </div>be paid by the Company to the extent that it has distributable retained earnings, calculated in accordance with Luxembourg law. See Note <div style="display: inline; font-style: italic; font: inherit;">25</div> (iii).</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">M&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowings</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowings are recognized initially at fair value net of transaction costs incurred and subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">N&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current and Deferred income tax</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The income tax expense or credit for the period is the tax payable on the current period&#x2019;s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. Tax is recognized in the Consolidated Income Statement, except for tax items recognized in other comprehensive income or directly in equity.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the reporting date in the countries where the Company&#x2019;s subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions when appropriate.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred income tax is recognized applying the liability method on temporary differences arising between the tax basis of assets and liabilities and their carrying amounts in the financial statements. The principal temporary differences arise from the effect of currency translation on depreciable fixed assets and inventories, depreciation on property, plant and equipment, valuation of inventories, provisions for pension plans and fair value adjustments of assets acquired in business combinations. Deferred tax assets are also recognized for net operating loss carry-forwards. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the time period when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted at the reporting date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets are recognized to the extent that it is probable that future taxable income will be available against which the temporary differences can be utilized. At the end of each reporting period, Tenaris reassesses unrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax asset to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax liabilities and assets are <div style="display: inline; font-style: italic; font: inherit;">not</div> recognized for temporary differences between the carrying amount and tax basis of investments in foreign operations where the company is able to control the timing of the reversal of the temporary differences and it is probable that the differences will <div style="display: inline; font-style: italic; font: inherit;">not</div> reverse in the foreseeable future.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets and liabilities are re-measured if tax rates change. These amounts are charged or credited to the Consolidated Income Statement or to the item <div style="display: inline; font-style: italic;">Other comprehensive income for the year </div>in the Consolidated Statement of Comprehensive Income, depending on the account to which the original amount was charged or credited.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 123 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">O&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee benefits</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Short-term obligations</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Liabilities for wages and salaries are recognized in respect of employees&#x2019; services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Post employment benefits</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt; font-style: italic; text-align: justify; text-indent: -22.5pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has defined benefit and defined contribution plans. A defined benefit plan is a pension plan that defines an amount of pension benefit that an employee will receive on retirement, usually dependent on <div style="display: inline; font-style: italic; font: inherit;">one</div> or more factors such as age, years of service and compensation.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets, if any. The defined benefit obligation is calculated annually (at year end) by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in <div style="display: inline; font-style: italic;">Other comprehensive income</div> in the period in which they arise. Past-service costs are recognized immediately in the Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For defined benefit plans, net interest income/expense is calculated based on the surplus or deficit derived by the difference between the defined benefit obligations less fair value of plan assets. For defined contribution plans, the Company pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Company has <div style="display: inline; font-style: italic; font: inherit;">no</div> further payment obligations once the contributions have been paid. The contributions are recognized as employee benefit expenses when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris sponsors funded and unfunded defined benefit pension plans in certain subsidiaries. The most significant are:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">An unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed to provide certain benefits to those officers (additional to those contemplated under applicable labor laws) in case of termination of the employment relationship due to certain specified events, including retirement. This unfunded plan provides defined benefits based on years of service and final average salary. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the outstanding liability for this plan amounts to <div style="display: inline; font-style: italic; font: inherit;">$45.3</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Employees&#x2019; service rescission indemnity: the cost of this obligation is charged to the Consolidated Income Statement over the expected service lives of employees. This provision is primarily related to the liability accrued for employees at Tenaris&#x2019;s Italian subsidiary. As from <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2007 </div>as a consequence of a change in an Italian law, employees were entitled to make contributions to external funds, thus, Tenaris&#x2019;s Italian subsidiary pays every year the required contribution to the funds with <div style="display: inline; font-style: italic; font: inherit;">no</div> further obligation. As a result, the plan changed from a defined benefit plan to a defined contribution plan effective from that date, but only limited to the contributions of <div style="display: inline; font-style: italic; font: inherit;">2007</div> onwards. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the outstanding liability for this plan amounts to <div style="display: inline; font-style: italic; font: inherit;">$17.3</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Funded retirement benefit plans held in Canada for salary and hourly employees hired prior to a certain date based on years of service and, in the case of salaried employees, final average salary. Plan assets consist primarily of investments in equities and money market funds. Both plans were replaced for defined contribution plans. Effective <div style="display: inline; font-style: italic; font: inherit;"> June 2016 </div>the salary plan was frozen for the purposes of credited service as well as determination of final average pay. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the outstanding liability for this plan amounts to <div style="display: inline; font-style: italic; font: inherit;">$9.8</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Funded retirement benefit plan held in the US for the benefit of some employees hired prior a certain date, frozen for the purposes of credited service as well as determination of final average pay for the retirement benefit calculation. Plan assets consist primarily of investments in equities and money market funds. Additionally, an unfunded postretirement health and life plan is present that offers limited medical and life insurance benefits to the retirees, hired before a certain date. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the outstanding liability for these plans amounts to <div style="display: inline; font-style: italic; font: inherit;">$13.4</div> million.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 124 -->   <div style=" margin: 0pt 0; font-size: 10pt"></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">3</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Other long term benefits</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">During <div style="display: inline; font-style: italic; font: inherit;">2007,</div> Tenaris launched an employee retention and long term incentive program (the &#x201c;Program&#x201d;) applicable to certain senior officers and employees of the Company, who will be granted a number of Units throughout the duration of the Program. The value of each of these Units is based on Tenaris&#x2019;s shareholders&#x2019; equity (excluding non-controlling interest). Also, the beneficiaries of the Program are entitled to receive cash amounts based on (i) the amount of dividend payments made by Tenaris to its shareholders, and (ii) the number of Units held by each beneficiary to the Program. Until <div style="display: inline; font-style: italic; font: inherit;">2017</div> units were vested ratably over a period of <div style="display: inline; font-style: italic; font: inherit;">four</div> years and were mandatorily redeemed by the Company <div style="display: inline; font-style: italic; font: inherit;">ten</div> years after grant date, with the option of an early redemption at <div style="display: inline; font-style: italic; font: inherit;">seven</div> years after the grant date. Since <div style="display: inline; font-style: italic; font: inherit;">2018</div> units are vested ratably over the same period and are mandatorily redeemed by the Company <div style="display: inline; font-style: italic; font: inherit;">seven</div> years after grant date. The payment of the benefit is tied to the book value of the shares, and <div style="display: inline; font-style: italic; font: inherit;">not</div> to their market value. Tenaris valued this long-term incentive program as a long term benefit plan as classified in IAS <div style="display: inline; font-style: italic; font: inherit;">19,</div> &#x201c;Employee Benefits&#x201d;.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> the outstanding liability corresponding to the Program amounts to <div style="display: inline; font-style: italic; font: inherit;">$99.0</div> million and <div style="display: inline; font-style: italic; font: inherit;">$91.2</div> million, respectively. The total value of the units granted (vested and unvested) to date under the program, considering the number of units and the book value per share as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> is <div style="display: inline; font-style: italic; font: inherit;">$119.9</div> million and <div style="display: inline; font-style: italic; font: inherit;">$106</div> million, respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">4</div>)</td> <td style="width: 5pt"></td> <td style="text-align: left">Termination benefits</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Termination benefits are payable when employment is terminated by Tenaris before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. Tenaris recognizes termination benefits at the earlier of the following dates: (a) when it can <div style="display: inline; font-style: italic; font: inherit;">no</div> longer withdraw the offer of those benefits; and (b) when the costs for a restructuring that is within the scope of IAS <div style="display: inline; font-style: italic; font: inherit;">37</div> and involves the payment of terminations benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">5</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Other compensation obligations</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Employee entitlements to annual leave, long-service leave, sick leave and other bonuses and compensations obligations are accrued as earned.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 66.55pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Compensation to employees in the event of dismissal is charged to income in the year in which it becomes payable.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">P&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provisions</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris is subject to various claims, lawsuits and other legal proceedings, including customer claims, in which a <div style="display: inline; font-style: italic; font: inherit;">third</div> party is seeking payment for alleged damages, reimbursement for losses or indemnity. Tenaris&#x2019;s potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management periodically reviews the status of each significant matter and assesses potential financial exposure. If, as a result of past events, a potential loss from a claim or proceeding is considered probable and the amount can be reliably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements, and take into consideration Tenaris&#x2019;s litigation and settlement strategies. These estimates are primarily constructed with the assistance of legal counsel. As the scope of liabilities become better defined, there <div style="display: inline; font-style: italic; font: inherit;"> may </div>be changes in the estimates of future costs which could have a material adverse effect on its results of operations, financial condition and cash flows.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If Tenaris expects to be reimbursed for an accrued expense, as would be the case for an expense or loss covered under an insurance contract, and reimbursement is considered virtually certain, the expected reimbursement is recognized as a receivable.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">This note should be read in conjunction with Note <div style="display: inline; font-style: italic; font: inherit;">25.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">Q &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade and other payables</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Trade and other payables are recognized initially at fair value, generally the nominal invoice amount and subsequently measured at amortized cost. They are presented as current liabilities unless payment is <div style="display: inline; font-style: italic; font: inherit;">not</div> due within <div style="display: inline; font-style: italic; font: inherit;">twelve</div> months after the reporting period. Due to the short-term nature their carrying amounts are considered to be the same as their fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 125 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">R&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue recognition</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue comprises the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of Tenaris&#x2019;s activities. The revenue recognized by the Company is measured at the transaction price of the consideration received or receivable to which the Company is entitled to, reduced by estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value to be realized and after eliminating sales within the group.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue is recognized at a point in time or over time from sales when control has been transferred and there is <div style="display: inline; font-style: italic; font: inherit;">no</div> unfulfilled performance obligation that could affect the acceptance of the product by the customer. The control is transferred upon delivery. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred and either the customer has accepted the product in accordance with the sales contract, the acceptance provisions have lapsed or the Company has objective evidence that all criteria for acceptance have been satisfied, including all performance obligations. These conditions are determined and analyzed on a contract by contract basis to ensure that all performance obligations are fulfilled; in particular, Tenaris verifies customer acceptance of the goods, the satisfaction of delivery terms and any other applicable condition.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal; color: black">For bill and hold transactions</div> <div style="display: inline; font-weight: normal">revenue is recognized only to the extent that (a) the reason for the bill and hold arrangement must be substantive (for example, the customer has requested the arrangement); (b) the products have been specifically identified and are ready for delivery; (c) the Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> have the ability to use the product or to direct it to another customer; (d) the usual payment terms apply.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#x2019;s contracts with customers do <div style="display: inline; font-style: italic; font: inherit;">not</div> provide any material variable consideration, other than discounts, rebates and right of return. Discounts and rebates are recognized based on the most likely value and rights of return are based on expected value considering past experience and contract conditions.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">Where the contracts include multiple performance obligations, the transaction price is allocated to each performance obligation based on the stand-alone selling prices. Where these are <div style="display: inline; font-style: italic; font: inherit;">not</div> directly observable, they are estimated based on the expected cost plus margin.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There are <div style="display: inline; font-style: italic; font: inherit;">no</div> judgements applied by management that significantly affect the determination of timing of satisfaction of performance obligations, nor the transaction price and amounts allocated to different performance obligations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris provides services related to goods sold, which represent a non-material portion of sales revenue and include:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Pipe Management Services. </div>This comprises mainly preparation of the pipes ready to be run, delivery to the customer, storage services and rig return.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Field Services. </div>Comprises&nbsp;field technical support and running assistance.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">These services are rendered in connection to the sales of goods and are attached to contracts with customers for the sale of goods. A significant portion of service revenue is recognized in the same period as the goods sold. There are <div style="display: inline; font-style: italic; font: inherit;">no</div> distinct uncertainties in the revenues and cash flows of the goods sold and services rendered as they are included in the same contract, have the same counterparty and are subject to the same conditions.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue from providing services is recognized over time in the accounting period in which the services are rendered. The following inputs and outputs methods are applied to recognize revenue considering the nature of service:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Storage services</div>, the Company provides storage services in owned or <div style="display: inline; font-style: italic; font: inherit;">third</div>-party warehouses, subject to a variable fee to be invoiced. This fee is determined based on the time that the customer maintains the material in the warehouse and the amount of the material stored. In the majority of cases, to quantify the amount to be invoiced in any given month, the monthly average fee of storage per ton is multiplied by the monthly average stock stored (in tons).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Freights, </div>the Company recognized the revenue on a pro rata bases considering the units delivered and time elapsed.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Field services</div>, the revenue is recognized considering outputs method, in particular surveys of service completion provided by the customer.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 126 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds <div style="display: inline; font-style: italic; font: inherit;">one</div> year. As a consequence, considering that the contracts do <div style="display: inline; font-style: italic; font: inherit;">not</div> include any significant financing component, the Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> adjust any of the transaction prices for the time value of money. For this reason, the Company is also applying the practical expedient <div style="display: inline; font-style: italic; font: inherit;">not</div> to disclose details on transaction prices allocated to the remaining performance obligations as of the end of the reporting period.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris only provides standard quality warranties assuring that the goods sold will function as expected or are fit for their intended purpose, with <div style="display: inline; font-style: italic; font: inherit;">no</div> incremental service to the customer. Accordingly, warranties do <div style="display: inline; font-style: italic; font: inherit;">not</div> constitute a separate performance obligation.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Other revenues earned by Tenaris are recognized on the following basis:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Interest income: on the effective yield basis.</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Dividend income from investments in other companies: when Tenaris&#x2019;s right to receive payment is established.</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Construction contracts revenues is recognized in accordance with the stage of the project completion.</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0">S&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of sales and other selling expenses</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cost of sales and other selling expenses are recognized in the Consolidated Income Statement on the accrual basis of accounting.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Commissions, freights and other selling expenses, including shipping and handling costs, are recorded in <div style="display: inline; font-style: italic;">Selling, general and administrative expenses </div>in the Consolidated Income Statement.</div> <div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0">T&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per share</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Earnings per share are calculated by dividing the income attributable to owners of the parent by the daily weighted average number of common shares outstanding during the year.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There are <div style="display: inline; font-style: italic; font: inherit;">no</div> dilutive potential ordinary shares.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">U&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial instruments</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non derivative financial instruments comprise investments in financial debt instruments and equity, time deposits, trade and other receivables, cash and cash equivalents, borrowings and trade and other payables.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company classifies its financial instruments according to the following measurement categories:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify">those to be measured subsequently at fair value (either through OCI or through profit or loss), and</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify">those to be measured at amortised cost</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The classification depends on the Company&#x2019;s business model for managing the financial assets and contractual terms of the cash flows.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets are recognized on their settlement date. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset <div style="display: inline; font-style: italic; font: inherit;">not</div> at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expenses in profit or loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Subsequent measurement of debt instruments depends on the Company&#x2019;s business model for managing the asset and the cash flow characteristics of the asset. There are <div style="display: inline; font-style: italic; font: inherit;">three</div> measurement categories into which the Company classifies its debt instruments:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0"></div> <!-- Field: Page; Sequence: 127 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Amortized Cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Fair value through other comprehensive income: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets&#x2019; cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Fair value through profit and loss (&#x201c;FVPL&#x201d;): Assets that do <div style="display: inline; font-style: italic; font: inherit;">not</div> meet the criteria for amortized cost or FVOCI. Changes in fair value of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For equity instruments, these are subsequently measured at fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Accounting for derivative financial instruments and hedging activities is included within the Section III, Financial Risk Management.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">V&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-current assets held for sale and discontinued operations</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits and financial assets that are carried at fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">An impairment loss is recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. A gain is recognized for any subsequent increase in fair value less costs to sell of an asset (or disposal group), but <div style="display: inline; font-style: italic; font: inherit;">not</div> in excess of any cumulative impairment loss previously recognized.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-current assets (including those that are part of a disposal group) are <div style="display: inline; font-style: italic; font: inherit;">not</div> depreciated or amortized while they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue to be recognized.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the balance sheet.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A discontinued operation is a component of the entity that has been disposed of or is classified as held for sale and that represents a separate line of business or geographical area of operations, is part of a single coordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operations are presented separately in the Consolidated Income Statement. See Note <div style="display: inline; font-style: italic; font: inherit;">29.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant accounting policies applied by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>124
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6793273008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2019 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Tenaris SA<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001190723<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">ts<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Large Accelerated Filer<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding (in shares)</a></td>
<td class="nump">1,180,536,830<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2019<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2019<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Ordinary Shares, par value $1.00 per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentAnnualReport', window );">Document Annual Report</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentTransitionReport', window );">Document Transition Report</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentShellCompanyReport', window );">Document Shell Company Report</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAnnualReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as an annual report.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 20-F, 40-F<br> -Number 240<br> -Section 15<br> -Subsection d-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAnnualReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentShellCompanyReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentShellCompanyReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentTransitionReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a transition report.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-1-<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentTransitionReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>125
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808974368">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statement of Changes In Equity - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2"><div>Issued capital [member]</div></th>
<th class="th"><div>Legal reserves [member]</div></th>
<th class="th"><div>Share premium [member]</div></th>
<th class="th"><div>Currency translation adjustment [member]</div></th>
<th class="th" colspan="2"><div>Other reserves [member]</div></th>
<th class="th" colspan="2"><div>Retained earnings [member]</div></th>
<th class="th"><div>Equity attributable to owners of parent [member]</div></th>
<th class="th"><div>Non-controlling interests [member]</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2016</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,180,537<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 118,054<span></span>
</td>
<td class="nump">$ 609,733<span></span>
</td>
<td class="num">$ (965,955)<span></span>
</td>
<td class="num">$ (313,088)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">$ 10,658,136<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 11,287,417<span></span>
</td>
<td class="nump">$ 125,655<span></span>
</td>
<td class="nump">$ 11,413,072<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">544,737<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">544,737<span></span>
</td>
<td class="num">(8,348)<span></span>
</td>
<td class="nump">536,389<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Currency translation adjustment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">151,080<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">151,080<span></span>
</td>
<td class="nump">682<span></span>
</td>
<td class="nump">151,762<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Remeasurements of post employment benefit obligations, net of taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(7,423)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(7,423)<span></span>
</td>
<td class="nump">126<span></span>
</td>
<td class="num">(7,297)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome', window );">Change in value of instruments at fair value through other comprehensive income and cash flow hedges, net of taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">4,549<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">4,549<span></span>
</td>
<td class="num">(24)<span></span>
</td>
<td class="nump">4,525<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">From other comprehensive income of non-consolidated companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(9,548)<span></span>
</td>
<td class="nump">136<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(9,412)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(9,412)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive (loss) income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">141,532<span></span>
</td>
<td class="num">(2,738)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">138,794<span></span>
</td>
<td class="nump">784<span></span>
</td>
<td class="nump">139,578<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">141,532<span></span>
</td>
<td class="num">(2,738)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">544,737<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">683,531<span></span>
</td>
<td class="num">(7,564)<span></span>
</td>
<td class="nump">675,967<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Acquisition and other changes in non-controlling interests</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(4,743)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(4,743)<span></span>
</td>
<td class="nump">4,694<span></span>
</td>
<td class="num">(49)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DividendsPaidIncludingNoncontrollingInterest', window );">Dividends paid in cash</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(484,020)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(484,020)<span></span>
</td>
<td class="num">(24,000)<span></span>
</td>
<td class="num">(508,020)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2017</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,180,537<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">118,054<span></span>
</td>
<td class="nump">609,733<span></span>
</td>
<td class="num">(824,423)<span></span>
</td>
<td class="num">(320,569)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">10,718,853<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">11,482,185<span></span>
</td>
<td class="nump">98,785<span></span>
</td>
<td class="nump">11,580,970<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">876,063<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">876,063<span></span>
</td>
<td class="num">(2,163)<span></span>
</td>
<td class="nump">873,900<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Currency translation adjustment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(96,673)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(96,673)<span></span>
</td>
<td class="num">(243)<span></span>
</td>
<td class="num">(96,916)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Remeasurements of post employment benefit obligations, net of taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">6,135<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">6,135<span></span>
</td>
<td class="num">(104)<span></span>
</td>
<td class="nump">6,031<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome', window );">Change in value of instruments at fair value through other comprehensive income and cash flow hedges, net of taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(6,673)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(6,673)<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="num">(6,667)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">From other comprehensive income of non-consolidated companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,848<span></span>
</td>
<td class="num">(3,987)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2,139)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(2,139)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive (loss) income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(94,825)<span></span>
</td>
<td class="num">(4,525)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(99,350)<span></span>
</td>
<td class="num">(341)<span></span>
</td>
<td class="num">(99,691)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(94,825)<span></span>
</td>
<td class="num">(4,525)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">876,063<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">776,713<span></span>
</td>
<td class="num">(2,504)<span></span>
</td>
<td class="nump">774,209<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Acquisition and other changes in non-controlling interests</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(2)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(22)<span></span>
</td>
<td class="num">(24)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DividendsPaidIncludingNoncontrollingInterest', window );">Dividends paid in cash</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(484,020)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(484,020)<span></span>
</td>
<td class="num">(3,661)<span></span>
</td>
<td class="num">(487,681)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance (Previously stated [member]) at Dec. 31, 2018</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,180,537<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">118,054<span></span>
</td>
<td class="nump">609,733<span></span>
</td>
<td class="num">(919,248)<span></span>
</td>
<td class="num">(322,310)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">11,116,116<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">11,782,882<span></span>
</td>
<td class="nump">92,610<span></span>
</td>
<td class="nump">11,875,492<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2018</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,180,537<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">118,054<span></span>
</td>
<td class="nump">609,733<span></span>
</td>
<td class="num">(919,248)<span></span>
</td>
<td class="num">(322,310)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">11,116,116<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="nump">11,782,882<span></span>
</td>
<td class="nump">92,610<span></span>
</td>
<td class="nump">11,875,492<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfChangesInAccountingPolicy', window );">Changes in accounting policies (Section II AP) at Dec. 31, 2017</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,786<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">5,220<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">8,006<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="nump">8,018<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EquityAdjustedBalance', window );">Balance at December 31, 2017 restated at Dec. 31, 2017</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,180,537<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">118,054<span></span>
</td>
<td class="nump">609,733<span></span>
</td>
<td class="num">(824,423)<span></span>
</td>
<td class="num">(317,783)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">10,724,073<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">11,490,191<span></span>
</td>
<td class="nump">98,797<span></span>
</td>
<td class="nump">11,588,988<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">742,686<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="nump">742,686<span></span>
</td>
<td class="num">(11,428)<span></span>
</td>
<td class="nump">731,258<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Currency translation adjustment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(27,217)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="num">(27,217)<span></span>
</td>
<td class="num">(77)<span></span>
</td>
<td class="num">(27,294)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Remeasurements of post employment benefit obligations, net of taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(7,132)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="num">(7,132)<span></span>
</td>
<td class="num">(595)<span></span>
</td>
<td class="num">(7,727)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome', window );">Change in value of instruments at fair value through other comprehensive income and cash flow hedges, net of taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,605<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="nump">1,605<span></span>
</td>
<td class="nump">727<span></span>
</td>
<td class="nump">2,332<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">From other comprehensive income of non-consolidated companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(10,781)<span></span>
</td>
<td class="num">(9,066)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="num">(19,847)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(19,847)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive (loss) income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(37,998)<span></span>
</td>
<td class="num">(14,593)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="num">(52,591)<span></span>
</td>
<td class="nump">55<span></span>
</td>
<td class="num">(52,536)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(37,998)<span></span>
</td>
<td class="num">(14,593)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">742,686<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="nump">690,095<span></span>
</td>
<td class="num">(11,373)<span></span>
</td>
<td class="nump">678,722<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Acquisition and other changes in non-controlling interests</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[6]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="nump">1<span></span>
</td>
<td class="nump">117,984<span></span>
</td>
<td class="nump">117,985<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DividendsPaidIncludingNoncontrollingInterest', window );">Dividends paid in cash</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="num">(484,020)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="num">(484,020)<span></span>
</td>
<td class="num">(1,807)<span></span>
</td>
<td class="num">(485,827)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2019</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,180,537<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">$ 118,054<span></span>
</td>
<td class="nump">$ 609,733<span></span>
</td>
<td class="num">$ (957,246)<span></span>
</td>
<td class="num">$ (336,902)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">$ 11,374,782<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="nump">$ 11,988,958<span></span>
</td>
<td class="nump">$ 197,414<span></span>
</td>
<td class="nump">$ 12,186,372<span></span>
</td>
</tr>
<tr><td colspan="13"></td></tr>
<tr><td colspan="13"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2018 and 2017 there were 1,180,536,830 shares issued. All issued shares are fully paid.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Other reserves include mainly the result of transactions with non-controlling interests that do not result in a loss of control, the remeasurement of post-employment benefit obligations and the changes in value of cash flow hedges and in available for sale financial instruments.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2019 there were 1,180,536,830 shares issued. All issued shares are fully paid.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Other reserves include mainly the result of transactions with non-controlling interests that do not result in a loss of control, the remeasurement of post-employment benefit obligations, the changes in value of cash flow hedges and the changes in financial instruments measured at fair value through other comprehensive income.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">The restrictions to the distribution of profits and payment of dividends according to Luxembourg Law are disclosed in Note 25.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[6]</td>
<td style="vertical-align: top;" valign="top">Related to Saudi Steel Pipe Company ("SSP") acquisition. See note 27.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity through changes in ownership interests in subsidiaries that do not result in loss of control. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81A<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to financial assets measured at fair value through other comprehensive income. [Refer: Financial assets measured at fair value through other comprehensive income; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2019-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2019-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2021-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2019-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the other comprehensive income of associates and joint ventures accounted for using the equity method, net of tax. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2019-01-01<br> -Paragraph 39M<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2019-en-b&amp;anchor=para_39M_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B16<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B16_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DividendsPaidIncludingNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Dividends recognised as distributions to owners, including noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DividendsPaidIncludingNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfChangesInAccountingPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative effect of changes in accounting policy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfChangesInAccountingPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EquityAdjustedBalance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities, after the cumulative effect adjustment of a change in accounting policies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EquityAdjustedBalance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis=ifrs-full_PreviouslyStatedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis=ifrs-full_PreviouslyStatedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>126
<FILENAME>R129.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790162320">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 20 - Deferred Income Tax (Details Textual)<br> $ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RecognizedTaxLossesExpiringWithinOneYearPercentage', window );">Recognized tax losses expiring within one year, percentage</a></td>
<td class="nump">0.20%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage', window );">Recognized tax losses expiring in two to five years, percentage</a></td>
<td class="nump">2.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage', window );">Recognized tax losses expiring in more than five years, percentage</a></td>
<td class="nump">97.30%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Unused tax losses for which no deferred tax asset recognised</a></td>
<td class="nump">$ 121.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear', window );">Unused tax losses for which no deferred tax asset recognised, percent expiring in less than one year</a></td>
<td class="nump">2.80%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears', window );">Unused tax losses for which no deferred tax asset recognised, percent expiring between two and five years</a></td>
<td class="nump">20.20%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears', window );">Unused tax losses for which no deferred tax asset recognised, percent expiring in more than five years</a></td>
<td class="nump">77.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">UNITED STATES</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries', window );">Deferred tax assets related to taxable losses of subsidiaries</a></td>
<td class="nump">$ 338.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of unused tax losses for which no deferred tax asset is recognised in the statement of financial position. [Refer: Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of deferred tax assets related to taxable losses of the entity's subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DeferredTaxAssetsRelatedToTaxableLossesOfSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the percentage of recognized tax losses expected to expire in more than five years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RecognizedTaxLossesExpiringInMoreThanFiveYearsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the percentage of recognized tax losses expected to expire in two to five years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RecognizedTaxLossesExpiringInTwoToFiveYearsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_RecognizedTaxLossesExpiringWithinOneYearPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the percentage of recognized tax losses expected to expire within one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_RecognizedTaxLossesExpiringWithinOneYearPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Regarding the unused tax losses for which no deferred tax asset is recognized in the statement of financial position, this element represents the percentage expiring in two to five years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringBetweenTwoAndFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Regarding the unused tax losses for which no deferred tax asset is recognized in the statement of financial position, this element represents the percentage expiring in less than one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInLessThanOneYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Regarding the unused tax losses for which no deferred tax asset is recognized in the statement of financial position, this element represents the percentage expiring in more than five years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognisedPercentExpiringInMoreThanFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>127
<FILENAME>R106.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796806656">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Intangible Assets, Net - Intangible Assets and Goodwill (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,465,965<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,561,559<span></span>
</td>
<td class="nump">$ 1,465,965<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_InformationSystemProjectsMember', window );">Information system projects [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">66,638<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">68,533<span></span>
</td>
<td class="nump">66,638<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_LicensesPatentsAndTrademarksMember', window );">Licenses, patents and trademarks [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">91,105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">89,970<span></span>
</td>
<td class="nump">91,105<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,288,344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,320,245<span></span>
</td>
<td class="nump">1,288,344<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer-related intangible assets [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">82,811<span></span>
</td>
<td class="nump">19,878<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,189,988<span></span>
</td>
<td class="nump">5,175,587<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,955)<span></span>
</td>
<td class="num">(10,473)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">114,466<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">36,259<span></span>
</td>
<td class="nump">31,905<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,665)<span></span>
</td>
<td class="num">(5,493)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(6,593)<span></span>
</td>
<td class="num">(1,538)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,326,500<span></span>
</td>
<td class="nump">5,189,988<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Information system projects [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">580,622<span></span>
</td>
<td class="nump">560,692<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,917)<span></span>
</td>
<td class="num">(6,153)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">405<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">35,487<span></span>
</td>
<td class="nump">31,632<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,665)<span></span>
</td>
<td class="num">(5,493)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,062)<span></span>
</td>
<td class="num">(56)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">604,870<span></span>
</td>
<td class="nump">580,622<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Licenses, patents and trademarks [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">464,571<span></span>
</td>
<td class="nump">465,963<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(70)<span></span>
</td>
<td class="num">(183)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">772<span></span>
</td>
<td class="nump">273<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1,531)<span></span>
</td>
<td class="num">(1,482)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">463,742<span></span>
</td>
<td class="nump">464,571<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Goodwill [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,085,936<span></span>
</td>
<td class="nump">2,090,073<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(968)<span></span>
</td>
<td class="num">(4,137)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">32,869<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,117,837<span></span>
</td>
<td class="nump">2,085,936<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Customer-related intangible assets [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,058,859<span></span>
</td>
<td class="nump">2,058,859<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">81,192<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill', window );">Transfers / Reclassifications</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,140,051<span></span>
</td>
<td class="nump">2,058,859<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,724,023<span></span>
</td>
<td class="nump">3,514,728<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,734)<span></span>
</td>
<td class="num">(5,551)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,263)<span></span>
</td>
<td class="num">(46)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">47,915<span></span>
</td>
<td class="nump">214,892<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,764,941<span></span>
</td>
<td class="nump">3,724,023<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Information system projects [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">513,984<span></span>
</td>
<td class="nump">478,946<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,734)<span></span>
</td>
<td class="num">(5,551)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,850)<span></span>
</td>
<td class="num">(46)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,937<span></span>
</td>
<td class="nump">40,635<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">536,337<span></span>
</td>
<td class="nump">513,984<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Licenses, patents and trademarks [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">373,466<span></span>
</td>
<td class="nump">372,746<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(413)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">719<span></span>
</td>
<td class="nump">720<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">373,772<span></span>
</td>
<td class="nump">373,466<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Goodwill [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">797,592<span></span>
</td>
<td class="nump">797,592<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">797,592<span></span>
</td>
<td class="nump">797,592<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Customer-related intangible assets [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,038,981<span></span>
</td>
<td class="nump">1,865,444<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization charge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,259<span></span>
</td>
<td class="nump">173,537<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Values at the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2,057,240<span></span>
</td>
<td class="nump">$ 2,038,981<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes Proprietary Technology.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Related to SSP acquisition.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in intangible assets and goodwill resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to intangible assets other than goodwill, other than those acquired through business combinations. [Refer: Business combinations [member]; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation of intangible assets other than goodwill. [Refer: Depreciation and amortisation expense; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_118_e_vi&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in intangible assets and goodwill resulting from disposals. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_118_e_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsIntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets and goodwill resulting from the net exchange differences arising when the financial statements are translated from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_118_e_vii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets and goodwill resulting from transfers and changes that the entity does not separately disclose in the same statement or note. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_InformationSystemProjectsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_InformationSystemProjectsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_LicensesPatentsAndTrademarksMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_LicensesPatentsAndTrademarksMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>128
<FILENAME>R11.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790321872">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Segment Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory', window );">Disclosure of entity's operating segments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">1</div></div></td> <td><div style="display: inline; font-weight: bold;">Segment information</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As mentioned in section II. AP &#x2013; C, the Segment Information is disclosed as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Reportable operating segments </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(All amounts in millions of U.S. dollars)</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Tubes</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Other</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Continuing operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Discontinued operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - Net Sales</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,870</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">424</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,294</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Management view - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">857</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">73</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">929</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Difference in cost of sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(105</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(102</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Differences in depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Differences in selling, general and administrative expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Differences in other operating income (expenses), net</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">755</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">77</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">832</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial income (expense), net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before equity in earnings of non-consolidated companies and income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">852</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Equity in earnings of non-consolidated companies</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Income before income tax</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">934</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Capital expenditures</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">338</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">350</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">523</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">540</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Tubes</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Other</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Continuing operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Discontinued operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - Net Sales</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,233</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">426</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,659</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Management view - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">702</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">783</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Difference in cost of sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">119</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Differences in depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(34</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(34</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Differences in selling, general and administrative expenses</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">777</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">95</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">872</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Financial income (expense), net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before equity in earnings of non-consolidated companies and income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">909</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Equity in earnings of non-consolidated companies</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Income before income tax</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,103</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left">Capital expenditures</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">346</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">349</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">645</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">664</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">Year ended December 31, 2017</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Tubes</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Other</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Continuing operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Discontinued operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - Net Sales</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,966</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">323</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,289</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Management view - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">163</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Difference in cost of sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">164</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">165</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Differences in depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Differences in selling, general and administrative expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Differences in other operating income (expenses), net</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">IFRS - operating income</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">292</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">335</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial income (expense), net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(23</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Income before equity in earnings of non-consolidated companies and income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">312</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Equity in earnings of non-consolidated companies</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">116</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Income before income tax</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Capital expenditures</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">550</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">558</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">594</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">609</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Transactions between segments, which were eliminated in consolidation, are mainly related to sales of scrap, energy, surplus raw materials and others from the Other segment to the Tubes segment for <div style="display: inline; font-style: italic; font: inherit;">$36,</div> <div style="display: inline; font-style: italic; font: inherit;">$52</div> and <div style="display: inline; font-style: italic; font: inherit;">$53</div> million in <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017,</div> respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There are <div style="display: inline; font-style: italic; font: inherit;">no</div> material differences between total reportable segments&#x2019; revenues and the entity&#x2019;s revenue under IFRS.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The main differences between operating income under IFRS view and the management view are mainly related to the cost of goods sold and other timing differences. See Section II. A. C. Segment Information.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In addition to the amounts reconciled above, the main differences in net income arise from the impact of functional currencies on financial result, deferred income taxes as well as the result of investment in non-consolidated companies and changes on the valuation of inventories according to cost estimation internally defined.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <!-- Field: Page; Sequence: 135 -->   <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Geographical information</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">North America</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">South America</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Europe</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Middle East &amp; Africa</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Asia Pacific</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unallocated (*)</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total continuing operations</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total discontinued operations</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; font-size: 10pt; text-align: justify">Net sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,429,911</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,391,288</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">738,880</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,382,172</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">351,804</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,294,055</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 4%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,885,120</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,227,044</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,282,775</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">958,424</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">609,663</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">879,965</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,842,991</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">612,809</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">176,173</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">149,321</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">319,406</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">90,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,771,570</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,129,260</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">816,721</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">254,858</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">117,608</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,090,017</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Capital expenditures</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">169,390</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,999</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,169</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,578</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,038</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">350,174</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">276,046</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">105,308</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82,400</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,520</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,247</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,521</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Net sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,611,509</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,462,044</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">724,733</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,559,988</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,314</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,658,588</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,971,311</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,489,522</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,913,589</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">588,746</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">482,563</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">805,568</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,251,299</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">791,190</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">280,801</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">215,202</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">383,358</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">66,815</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,859,060</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,133,113</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">848,178</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,040</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">129,517</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,063,908</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Capital expenditures</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">196,220</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">68,603</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">77,467</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,047</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,136</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">349,473</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">441,705</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">108,558</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82,769</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,389</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,936</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">664,357</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2017</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Net sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,451,357</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,142,142</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">545,777</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">937,439</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">211,789</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,288,504</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,899</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,925,520</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,975,599</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,002,658</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">391,029</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">441,546</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">661,866</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,398,218</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">582,204</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">234,877</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">214,944</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">135,524</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46,511</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,214,060</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,914,229</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,190,145</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">878,788</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">102,481</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">143,500</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,229,143</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Capital expenditures</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">430,142</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">58,949</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">57,285</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,562</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,153</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">558,091</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">145</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">354,091</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">126,273</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93,900</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,094</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,282</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">608,640</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(*) For <div style="display: inline; font-style: italic; font: inherit;">2019</div> and <div style="display: inline; font-style: italic; font: inherit;">2018</div> includes Investments in non-consolidated companies, for <div style="display: inline; font-style: italic; font: inherit;">2017</div> includes Investments in non-consolidated companies and Other equity investments for <div style="display: inline; font-style: italic; font: inherit;">$21.6</div> million. See Note <div style="display: inline; font-style: italic; font: inherit;">12</div> and <div style="display: inline; font-style: italic; font: inherit;">33.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There are <div style="display: inline; font-style: italic; font: inherit;">no</div> revenues from external customers attributable to the Company&#x2019;s country of incorporation (Luxembourg). For geographical information purposes, &#x201c;North America&#x201d; comprises Canada, Mexico and the USA (<div style="display: inline; font-style: italic; font: inherit;">31%</div>); &#x201c;South America&#x201d; comprises principally Argentina (<div style="display: inline; font-style: italic; font: inherit;">12%</div>), Brazil and Colombia; &#x201c;Europe&#x201d; comprises principally Italy, Romania and United Kingdom; &#x201c;Middle East and Africa&#x201d; comprises principally Egypt, Kazakhstan, Nigeria, India and Saudi Arabia and; &#x201c;Asia Pacific&#x201d; comprises principally China, Japan, Indonesia and Thailand.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue is mainly recognized at a point in time to direct customers, when control has been transferred and there is <div style="display: inline; font-style: italic; font: inherit;">no</div> unfulfilled performance obligation that could affect the acceptance of the product by the customer. Tenaris&#x2019;s revenues related to governmental institutions represents approximately <div style="display: inline; font-style: italic; font: inherit;">21%,</div> <div style="display: inline; font-style: italic; font: inherit;">15%</div> and <div style="display: inline; font-style: italic; font: inherit;">17%</div> in <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017</div> respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tubes segment revenues by market:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">Revenues Tubes&nbsp;&nbsp;(in million US dollar)</td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2019</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Oil and Gas</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,757</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,042</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,034</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Hydrocarbon Processing and Power Generation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">534</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">602</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">484</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Industrial and Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">579</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">589</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">448</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">Total</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,870</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,233</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,966</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">At <div style="display: inline; font-style: italic; font: inherit;"> December 2019, </div><div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017,</div> the Company recognized contract liabilities related to customer advances in the amount of <div style="display: inline; font-style: italic; font: inherit;">$82.7,</div> <div style="display: inline; font-style: italic; font: inherit;">$62.7</div> and <div style="display: inline; font-style: italic; font: inherit;">$56.7</div> million, respectively. These amounts related to years <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017</div> were reclassified to revenues during the subsequent year. In these periods, <div style="display: inline; font-style: italic; font: inherit;">no</div> significant adjustment in revenues were performed related to performance obligations previously satisfied.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for operating segments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IFRS08_g20-24_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>129
<FILENAME>R102.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797969632">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 8 - Dividends Distribution (Details Textual) - USD ($)<br> $ / shares in Units, $ in Millions</strong></div></th>
<th class="th"><div>Nov. 20, 2019</div></th>
<th class="th"><div>Oct. 30, 2019</div></th>
<th class="th"><div>May 22, 2019</div></th>
<th class="th"><div>Nov. 21, 2018</div></th>
<th class="th"><div>May 23, 2018</div></th>
<th class="th"><div>Nov. 22, 2017</div></th>
<th class="th"><div>May 24, 2017</div></th>
<th class="th"><div>Nov. 23, 2016</div></th>
<th class="th"><div>May 06, 2019</div></th>
<th class="th"><div>May 02, 2018</div></th>
<th class="th"><div>May 03, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare', window );">Dividends recognised as distributions to owners per share (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DividendsPayableAmountPerADS', window );">Dividends payable, amount per ads (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.26<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends recognised as distributions to owners</a></td>
<td class="nump">$ 153<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 484<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 484<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 484<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DividendsPayableAmountPerShareIncludingInterimDividend', window );">Dividends payable, amount per share including interim dividend (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.41<span></span>
</td>
<td class="nump">$ 0.41<span></span>
</td>
<td class="nump">$ 0.41<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DividendsPayableAmountPerADSIncludingInterimDividend', window );">Dividends payable, amount per ADS including interim dividend (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.82<span></span>
</td>
<td class="nump">$ 0.82<span></span>
</td>
<td class="nump">$ 0.82<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinarySharesPerShare', window );">Dividends paid, ordinary shares per share (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.28<span></span>
</td>
<td class="nump">$ 0.13<span></span>
</td>
<td class="nump">$ 0.28<span></span>
</td>
<td class="nump">$ 0.13<span></span>
</td>
<td class="nump">$ 0.28<span></span>
</td>
<td class="nump">$ 0.13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DividendsPaidPerADS', window );">Dividends paid, per ADS (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.56<span></span>
</td>
<td class="nump">$ 0.26<span></span>
</td>
<td class="nump">$ 0.56<span></span>
</td>
<td class="nump">$ 0.26<span></span>
</td>
<td class="nump">$ 0.56<span></span>
</td>
<td class="nump">$ 0.26<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 107<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOrdinarySharesPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid per ordinary share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2019-01-01<br> -Paragraph 16A<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=34&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOrdinarySharesPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount, per share, of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 107<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DividendsPaidPerADS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid per American Depositary Security ("ADS"). One ADS equals two shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DividendsPaidPerADS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DividendsPayableAmountPerADS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The per American Depositary Security "ADS" amount of a dividend declared or approved, but not yet paid. One ADS equals two shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DividendsPayableAmountPerADS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DividendsPayableAmountPerADSIncludingInterimDividend">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The per American Depositary Security "ADS" amount of a dividend payable including an interim dividend paid previously. One ADS equals two shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DividendsPayableAmountPerADSIncludingInterimDividend</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DividendsPayableAmountPerShareIncludingInterimDividend">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The per share amount of a dividend payable including an interim dividend previously paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DividendsPayableAmountPerShareIncludingInterimDividend</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>130
<FILENAME>R15.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790606816">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Other Operating Income and Expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory', window );">Disclosure of other operating income (expense) [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">5</div></div></td> <td><div style="display: inline; font-weight: bold;">Other operating income and expenses</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt; text-indent: -22.5pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left">Other operating income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 55%; font-size: 10pt; text-align: left">Net income from other sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,651</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,604</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,395</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Net rents</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,089</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,909</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,325</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Other</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,025</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,546</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,796</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Recovery on allowance for doubtful receivables</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,239</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,004</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,059</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,516</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Other operating expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Contributions to welfare projects and non-profits organizations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,199</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,379</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,158</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Loss on fixed assets and material supplies disposed / scrapped</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Allowance for doubtful receivables</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,179</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">84</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,199</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,558</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,360</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,199</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,558</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,359</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other operating income or expense. [Refer: Other operating income (expense)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>131
<FILENAME>R19.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790532032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Property, Plant and Equipment, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory', window );">Disclosure of property, plant and equipment [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-style: italic; font: inherit;">9</div></td> <td style="text-align: justify">Property, plant and equipment, net</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and <br /> civil <br /> buildings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Industrial <br /> buildings, <br /> plant and <br /> production <br /> equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vehicles, <br /> furniture <br /> and <br /> fixtures</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Work in <br /> progress</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Spare <br /> parts and <br /> equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 22%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">732,578</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,121,569</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">377,260</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">127,378</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,197</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,421,982</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,611</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38,961</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,615</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(864</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(256</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(43,307</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations (*)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59,468</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115,908</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,733</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,630</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">178,739</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,178</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,107</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">299,412</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,202</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">313,915</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals / Consumptions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(35</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27,153</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,110</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,120</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,557</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38,975</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers / Reclassifications</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,723</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">296,272</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,349</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(317,128</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,984</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,232</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">799,139</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,468,813</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">399,724</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">108,308</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60,602</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,836,586</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110,914</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,936,900</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">310,260</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,358,074</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(420</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(24,973</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,485</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(26,878</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,409</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">415,826</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,080</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">447,315</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(362</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(400</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Disposals / Consumptions</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(73</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(25,580</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,889</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(31,542</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">121,468</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,302,135</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">322,966</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,746,569</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">677,671</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,166,678</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">76,758</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">108,308</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60,602</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,090,017</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(*) Related to SSP acquisition. See Note <div style="display: inline; font-style: italic; font: inherit;">27.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and<br /> civil <br /> buildings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Industrial <br /> buildings, <br /> plant and <br /> production <br /> equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vehicles, <br /> furniture <br /> and <br /> fixtures</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Work in <br /> progress</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Spare <br /> parts and <br /> equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 22%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">712,061</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,954,585</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">370,542</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">167,079</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,413</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,246,680</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,628</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(117,977</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,458</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,269</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(424</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(131,756</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">723</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">681</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,245</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">294,163</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,756</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">317,568</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Disposals / Consumptions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(221</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,836</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,269</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(42</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,541</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(35,909</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers / Reclassifications</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,643</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">306,116</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,200</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(331,553</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,993</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,399</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">732,578</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,121,569</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">377,260</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">127,378</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,197</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,421,982</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">101,197</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,612,871</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">303,469</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,017,537</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,383</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(72,141</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,939</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(78,463</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Depreciation charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,153</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">417,229</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,083</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">449,465</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">173</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(671</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(498</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Disposals / Consumptions</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(53</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,232</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(8,682</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(29,967</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110,914</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,936,900</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">310,260</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,358,074</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">621,664</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,184,669</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">67,000</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">127,378</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,197</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,063,908</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal"></div></div> <div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Property, plant and equipment include capitalized interests for net amounts at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018</div> of <div style="display: inline; font-style: italic; font: inherit;">$35.4</div> million and <div style="display: inline; font-style: italic; font: inherit;">$37.4</div> million, respectively. There were <div style="display: inline; font-style: italic; font: inherit;">no</div> interest capitalized during <div style="display: inline; font-style: italic; font: inherit;">2019</div> and <div style="display: inline; font-style: italic; font: inherit;">2018.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IAS16_g73-79_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>132
<FILENAME>R88.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6795065600">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Segment Information (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Profit (loss) before tax</a></td>
<td class="nump">$ 933,710<span></span>
</td>
<td class="nump">$ 1,103,107<span></span>
</td>
<td class="nump">$ 427,711<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssetsAvailableforsale', window );">Non-current financial assets available-for-sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContractLiabilities', window );">Total contract liabilities</a></td>
<td class="nump">$ 82,700<span></span>
</td>
<td class="nump">$ 62,700<span></span>
</td>
<td class="nump">$ 56,700<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_TenarisMember', window );">Tenaris [member] | Government customers [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
<td class="nump">17.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_LU', window );">LUXEMBOURG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">UNITED STATES</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">31.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_Argentina1Member', window );">Argentina [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Percentage of entity's revenue</a></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember', window );">Elimination of intersegment amounts [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Profit (loss) before tax</a></td>
<td class="nump">$ 36,000<span></span>
</td>
<td class="nump">$ 52,000<span></span>
</td>
<td class="nump">$ 53,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of an entity&#8217;s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2019-01-01<br> -Paragraph 105<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2019-01-01<br> -Paragraph 116<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_116_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialAssetsAvailableforsale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial assets available-for-sale. [Refer: Financial assets available-for-sale; Non-current financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 8<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_8_d&amp;doctype=Standard&amp;book=b<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialAssetsAvailableforsale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfEntitysRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of the entity's revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfEntitysRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_TenarisMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_TenarisMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfCustomersAxis=ifrs-full_GovernmentCustomersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfCustomersAxis=ifrs-full_GovernmentCustomersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_LU">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_LU</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_Argentina1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_Argentina1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>133
<FILENAME>R78.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790438944">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 32 - Principal Subsidiaries (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory', window );">Disclosure of subsidiaries [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Company</div></div></td> <td style="border-top: black 1pt solid; border-right: black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Country of<br /> Incorporation</div></div></td> <td style="border-top: black 1pt solid; border-right: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Main activity</div></div></td> <td colspan="3" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Percentage of ownership at<br /> December 31, (*)</div></div></td> </tr> <tr> <td style="vertical-align: bottom; width: 41%; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td> <td style="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td> <td style="vertical-align: bottom; width: 27%; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td> <td style="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2019</div></div></td> <td style="vertical-align: bottom; width: 6%; border-right: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2018</div></div></td> <td style="vertical-align: bottom; width: 8%; border-right: black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2017</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">ALGOMA TUBES INC.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Canada</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">CONFAB INDUSTRIAL S.A. and subsidiaries</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Brazil</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded steel pipes and capital goods</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">DALMINE S.p.A.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Italy</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">HYDRIL COMPANY and subsidiaries (except detailed) (a)</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacture and marketing of premium connections</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">KAZAKHSTAN PIPE THREADERS LIMITED LIABILITY PARTNERSHIP</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Kazakhstan</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Threading of premium products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">MAVERICK TUBE CORPORATION and subsidiaries</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded steel pipes </div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">NKKTUBES</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Japan</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">51%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">51%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">51%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">P.T. SEAMLESS PIPE INDONESIA JAYA</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Indonesia</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">89%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">89%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">89%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">PRUDENTIAL STEEL LTD.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Canada</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded steel pipes </div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">S.C. SILCOTUB S.A.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Romania</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">SAUDI STEEL PIPE CO.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Saudi Arabia</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded steel pipes </div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">48%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">NA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">NA</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">SIAT SOCIEDAD ANONIMA</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Argentina</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded and seamless steel pipes </div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL and subsidiaries</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Argentina</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TALTA - TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Portugal</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding Company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS BAY CITY, INC.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS CONNECTIONS BV</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Netherlands</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Development, management and licensing of intellectual property</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS FINANCIAL SERVICES S.A.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Uruguay</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Financial company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS GLOBAL SERVICES (CANADA) INC.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Canada</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Marketing of steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">USA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Marketing of steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS GLOBAL SERVICES (UK) LTD</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">United Kingdom</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company and marketing of steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS GLOBAL SERVICES S.A. and subsidiaries (except detailed) (b)</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Uruguay</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company and marketing of steel products</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS INVESTMENTS (NL) B.V.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Netherlands</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">NA</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">NA</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS INVESTMENTS S.&agrave;r.l.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Luxembourg</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS INVESTMENTS SWITZERLAND AG and subsidiaries</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Switzerland</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Holding company</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt">TENARIS TUBOCARIBE LTDA.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Colombia</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of welded and seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt dotted; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> <tr style="background-color: White"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><div style="display: inline; font-size: 10pt">TUBOS DE ACERO DE MEXICO, S.A.</div></td> <td style="border-right: black 1pt solid; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Mexico</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Manufacturing of seamless steel pipes</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div></td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B4<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B4_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>134
<FILENAME>R74.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790385984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 28 - Cash Flow Disclosures (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock', window );">Disclosure of detailed information about cash flow disclosures [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left; font-size: 10pt">(i)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">Changes in working capital</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 3%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 56%; font-size: 10pt">Inventories</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">311,459</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(176,443</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(804,415</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Receivables and prepayments and Current tax assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(34,368</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,144</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,564</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,326</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(517,579</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(259,375</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Other liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(18,295</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(22,984</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,226</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Customer advances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,844</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,976</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,039</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Trade payables</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(180,857</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(57,066</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">193,905</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">523,109</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(737,952</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(853,184</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">(ii)</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Income tax accruals less payments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Tax accrued</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,452</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229,207</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,136</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Taxes paid</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(395,869</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(170,713</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(176,853</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(193,417</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">58,494</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(193,989</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">(iii)</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Interest accruals less payments, net</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Interest accrued</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,616</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,914</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(20,534</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Interest received</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,890</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,613</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">50,001</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest paid</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(30,655</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(31,548</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,917</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,381</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,151</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,550</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">(iv)</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Cash and cash equivalents</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">Cash at banks, liquidity funds and short - term investments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,554,299</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,361</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">330,221</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bank overdrafts</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(24</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,644</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(131</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,554,275</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">426,717</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">330,090</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about cash flow disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutCashFlowDisclosuresTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>135
<FILENAME>R163.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6791533296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 36 - Update as of April 29, 2020 (Details Textual) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2020</div></th>
<th class="th"><div>Feb. 19, 2020</div></th>
<th class="th"><div>Jan. 02, 2020</div></th>
<th class="th"><div>Nov. 20, 2019</div></th>
<th class="th"><div>May 22, 2019</div></th>
<th class="th"><div>May 23, 2018</div></th>
<th class="th"><div>May 24, 2017</div></th>
<th class="th"><div>Jan. 02, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends recognised as distributions to owners</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 153.0<span></span>
</td>
<td class="nump">$ 484.0<span></span>
</td>
<td class="nump">$ 484.0<span></span>
</td>
<td class="nump">$ 484.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_NkktubesMember', window );">NKKTUBES [member] | JFE [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember', window );">Acquisition of IPSCO [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">General and administrative expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ts_GlobalPandemicMember', window );">Global pandemic [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts', window );">Estimated annual savings from the reduction of fixed costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 220.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses', window );">Reduction of capital expenditures and research and development expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 150.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ts_NetCashPositionMember', window );">Net cash position [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Cash', window );">Total cash</a></td>
<td class="nump">$ 271.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_MajorBusinessCombinationMember', window );">Major business combination [member] | Acquisition of IPSCO [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Cash transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,067.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,067.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate', window );">Goodwill recognised as of acquisition date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">357.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">357.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">General and administrative expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ts_ImpairmentOfAssetsMember', window );">Impairment of assets [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLoss', window );">Impairment loss</a></td>
<td class="nump">$ 622.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits. [Refer: Cash on hand]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Cash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 107<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the business combination's acquisition date for goodwill. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph IE72<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as a reduction of the carrying amount of an asset or cash-generating unit to its recoverable amount. [Refer: Carrying amount [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 130<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_130_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 130<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_130_d_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated annual savings amount from the reduction of fixed costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EstimatedAnnualSavingsFromTheReductionOfFixedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of reduction in capital expenditures and research and development expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ReductionOfCapitalExpendituresAndResearchAndDevelopmentExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_NkktubesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_NkktubesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ts_JfeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ts_JfeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ts_GlobalPandemicMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ts_GlobalPandemicMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ts_NetCashPositionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ts_NetCashPositionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_MajorBusinessCombinationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_MajorBusinessCombinationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ts_ImpairmentOfAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ts_ImpairmentOfAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>136
<FILENAME>R84.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6775188304">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial Risk Management - Financial Assets and Liabilities Which Impact Profit and Loss (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ts_ArgentinePesoUsDollarForeignExchangeRiskMember', window );">Argentine Peso / U.S. dollar foreign exchange risk [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ForeignExchangeRiskCurrencyExposure', window );">Currency exposure / functional currency</a></td>
<td class="num">$ (95,811)<span></span>
</td>
<td class="num">$ (186,867)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ts_EuroUsDollarForeignExchangeRiskMember', window );">Euro / U.S. dollar foreign exchange risk [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ForeignExchangeRiskCurrencyExposure', window );">Currency exposure / functional currency</a></td>
<td class="num">(103,518)<span></span>
</td>
<td class="num">(175,419)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ts_SaudiArabianRiyalUsDollarExchangeRiskMember', window );">Saudi Arabian Riyal / US Dollar exchange risk [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ForeignExchangeRiskCurrencyExposure', window );">Currency exposure / functional currency</a></td>
<td class="num">$ (107,582)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ForeignExchangeRiskCurrencyExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of currency exposure which impact profit and loss expressed as long/(short).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ForeignExchangeRiskCurrencyExposure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ts_ArgentinePesoUsDollarForeignExchangeRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ts_ArgentinePesoUsDollarForeignExchangeRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ts_EuroUsDollarForeignExchangeRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ts_EuroUsDollarForeignExchangeRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ts_SaudiArabianRiyalUsDollarExchangeRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ts_SaudiArabianRiyalUsDollarExchangeRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>137
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6819388688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>II. Accounting Policies (Details Textual)<br> R$ / shares in Units, $ / shares in Units, $ in Thousands, R$ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2"></th>
</tr>
<tr>
<th class="th"><div>Jan. 16, 2012</div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Apr. 10, 2018 </div>
<div>shares</div>
</th>
<th class="th">
<div>May 31, 2016 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>May 31, 2016 </div>
<div>BRL (R$) </div>
<div>R$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Apr. 30, 2016 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Apr. 30, 2016 </div>
<div>BRL (R$) </div>
<div>R$ / shares </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NumberOfMajorBusinessSegments', window );">Number of major business segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NumberOfReportableOperatingSegments', window );">Number of reportable operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Total intangible assets and goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,561,559<span></span>
</td>
<td class="nump">$ 1,465,965<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ResearchAndDevelopmentExpense', window );">Research and development expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,100<span></span>
</td>
<td class="nump">63,400<span></span>
</td>
<td class="nump">$ 63,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets', window );">Selling, general and administrative expenses, amortization of intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 41,967<span></span>
</td>
<td class="nump">$ 206,672<span></span>
</td>
<td class="nump">$ 188,550<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesAuthorised', window );">Number of shares authorised (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,500,000,000<span></span>
</td>
<td class="nump">2,500,000,000<span></span>
</td>
<td class="nump">2,500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssued', window );">Total number of shares issued (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding at end of period (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="nump">1,180,536,830<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NumberOfVotesPerShare', window );">Number of votes, per share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 99,000<span></span>
</td>
<td class="nump">$ 91,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EmployeeBenefitsUnitVestingPeriod', window );">Employee benefits, unit vesting period (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">4 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EmployeeBenefitsCompanyRedemptionPeriod', window );">Employee benefits, company redemption period (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">7 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EmployeeBenefitsEarlyRedemptionPeriod', window );">Employee benefits, early redemption period (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">7 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CarryingValueOfUnitsGranted', window );">Carrying value of units granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 119,900<span></span>
</td>
<td class="nump">106,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares', window );">Dilutive effect of share options on number of ordinary shares (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_IT', window );">ITALY</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod', window );">Net defined contribution plan liability (asset) at end of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">UNITED STATES</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember', window );">Unfunded defined benefit employee retirement plan for certain senior officers [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember', window );">Funded post-employment benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">160,412<span></span>
</td>
<td class="nump">146,885<span></span>
</td>
<td class="nump">$ 165,485<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember', window );">Funded post-employment benefits [member] | Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_OCTGUSAMember', window );">OCTG (USA) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount', window );">Amount by which unit's recoverable amount exceeds its carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">108,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_InformationSystemProjectsMember', window );">Information system projects [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Total intangible assets and goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">68,533<span></span>
</td>
<td class="nump">66,638<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_TrademarksMember', window );">Trademarks [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Total intangible assets and goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">86,700<span></span>
</td>
<td class="nump">86,700<span></span>
</td>
<td class="nump">$ 86,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer-related intangible assets [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Total intangible assets and goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 82,811<span></span>
</td>
<td class="nump">$ 19,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer-related intangible assets [member] | Maverick acquisition [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinitelivedIntangibleAssetUsefulLife', window );">Finite-lived intangible asset, useful life (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">14 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019', window );">Remaining amortisation period of intangible assets material to entity (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">0 years<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets', window );">Selling, general and administrative expenses, amortization of intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 109,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinitelivedIntangibleAssetResidualValue', window );">Finite-lived intangible asset, residual value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinitelivedIntangibleAssetResidualUsefulLife', window );">Finite-lived intangible asset, residual useful life (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer-related intangible assets [member] | Hydrill acquisition [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinitelivedIntangibleAssetUsefulLife', window );">Finite-lived intangible asset, useful life (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer-related intangible assets [member] | Saudi Steel Pipe Company [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinitelivedIntangibleAssetUsefulLife', window );">Finite-lived intangible asset, useful life (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">9 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinitelivedIntangibleAssetResidualValue', window );">Finite-lived intangible asset, residual value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 72,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinitelivedIntangibleAssetResidualUsefulLife', window );">Finite-lived intangible asset, residual useful life (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">8 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse', window );">Discount rate used in current estimate of value in use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member] | Information system projects [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinitelivedIntangibleAssetUsefulLife', window );">Finite-lived intangible asset, useful life (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member] | Licenses, patents, trademarks, and proprietary technology [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinitelivedIntangibleAssetUsefulLife', window );">Finite-lived intangible asset, useful life (Year)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse', window );">Discount rate used in current estimate of value in use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_UsiminasMember', window );">Usiminas [member] | The new SHA [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SharesBoundToSHA', window );">Shares bound to SHA (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">483,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PercentOfCompanyVotingCapital', window );">Percent of company voting capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">68.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_TTGroupMember', window );">T/T Group [member] | The new SHA [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PercentOfCompanyVotingCapital', window );">Percent of company voting capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">47.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_TerniumEntititesMember', window );">Ternium entitites [member] | The new SHA [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PercentOfCompanyVotingCapital', window );">Percent of company voting capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_ConfabMember', window );">Confab [member] | The new SHA [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PercentOfCompanyVotingCapital', window );">Percent of company voting capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_NSSMCMember', window );">NSSMC [member] | The new SHA [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PercentOfCompanyVotingCapital', window );">Percent of company voting capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_PrevidenciaUsiminasMember', window );">Previdencia Usiminas [member] | The new SHA [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PercentOfCompanyVotingCapital', window );">Percent of company voting capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_TerniumSAMember', window );">Ternium S.A. [member] | Techgen s.a. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">48.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_TecpetrolInternationalSAMember', window );">Tecpetrol International S.A. [member] | Techgen s.a. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=ts_TenarisMember', window );">Tenaris [member] | Techgen s.a. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember', window );">Ternium S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember', window );">Ternium S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies', window );">Impairment loss on equity method investment in non-consolidated companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | Preference shares [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_InterestInAssociateSharesOwned', window );">Interest in associate, shares owned (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | Ordinary shares [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_InterestInAssociateSharesOwned', window );">Interest in associate, shares owned (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | CONFAB INDUSTRIAL S.A. and subsidiaries [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.07%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Proportion of voting rights held in associate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.20%<span></span>
</td>
<td class="nump">5.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | CONFAB INDUSTRIAL S.A. and subsidiaries [member] | Preference shares [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NumberOfSharesSubscribedTo', window );">Number of shares subscribed to (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,300,000<span></span>
</td>
<td class="nump">1,300,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SharesSubscribedToPricePerShare', window );">Shares subscribed to, price per share (in BRL per share) | R$ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1.28<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SharesSubscribedToValue', window );">Shares subscribed to, value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 500<span></span>
</td>
<td class="nump">R$ 1.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | CONFAB INDUSTRIAL S.A. and subsidiaries [member] | Ordinary shares [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NumberOfSharesSubscribedTo', window );">Number of shares subscribed to (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,500,000<span></span>
</td>
<td class="nump">11,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SharesSubscribedToPricePerShare', window );">Shares subscribed to, price per share (in BRL per share) | R$ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_SharesSubscribedToValue', window );">Shares subscribed to, value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,600<span></span>
</td>
<td class="nump">R$ 57.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember', window );">Usiminas [member] | Ternium S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="nump">13.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Proportion of voting rights held in associate</a></td>
<td class="nump">27.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount by which a cash-generating unit's (group of units') recoverable amount exceeds its carrying amount. [Refer: Carrying amount [member]; Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 134<br> -Subparagraph f<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_134_f_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 135<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_135_e_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The discount rate used in the current estimate of the present value of the future cash flows expected to be derived from an asset or cash-generating unit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 130<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_130_g&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of dilutive potential ordinary shares that relate to the assumed exercise of the entity's share options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2019-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesAuthorised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares authorised.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_79_a_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesAuthorised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in an associate held by the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingPowerHeldInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The remaining amortisation period of individual intangible assets that are material to the entity&#8217;s financial statements. [Refer: Depreciation and amortisation expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Paragraph 122<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_122_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ResearchAndDevelopmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenditure directly attributable to research or development activities, recognised in profit or loss.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2019-01-01<br> -Paragraph 126<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_126&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ResearchAndDevelopmentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CarryingValueOfUnitsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the carrying value of units granted to date under the employee retention and long term incentive program.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CarryingValueOfUnitsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EmployeeBenefitsCompanyRedemptionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the period at which the company will redeem units granted under the employee retention and long term inventive program.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EmployeeBenefitsCompanyRedemptionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EmployeeBenefitsEarlyRedemptionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the period that the company may exercise an option to for early redemption of units granted under the employee retention and long term incentive program.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EmployeeBenefitsEarlyRedemptionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EmployeeBenefitsUnitVestingPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the period that units under an employee retention and long term incentive program vest ratably.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EmployeeBenefitsUnitVestingPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_FinitelivedIntangibleAssetResidualUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the residual useful life of a finite-lived intangible asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_FinitelivedIntangibleAssetResidualUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_FinitelivedIntangibleAssetResidualValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the aggregate expected value at the end of their useful life of a finite-lived intangible asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_FinitelivedIntangibleAssetResidualValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_FinitelivedIntangibleAssetUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the useful life of finite-lived intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_FinitelivedIntangibleAssetUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss on equity method investment in non-consolidated companies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ImpairmentLossOnEquityMethodInvestmentInNonconsolidatedCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_InterestInAssociateSharesOwned">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of shares owned of an associate entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_InterestInAssociateSharesOwned</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined contribution plan, adjusted for any effect of limiting a net defined contribution asset to the asset ceiling.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NetDefinedContributionPlanLiabilityAssetAtEndOfPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NumberOfMajorBusinessSegments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of major business segments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NumberOfMajorBusinessSegments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NumberOfReportableOperatingSegments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of reportable operating segments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NumberOfReportableOperatingSegments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NumberOfSharesSubscribedTo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of shares subscribed to.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NumberOfSharesSubscribedTo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NumberOfVotesPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of votes given to each share of stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NumberOfVotesPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_PercentOfCompanyVotingCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percent of a company's voting capital represented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_PercentOfCompanyVotingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization of intangible assets attributable to selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SellingGeneralAndAdministrativeExpensesAmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SharesBoundToSHA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of shares bound to SHA.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SharesBoundToSHA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SharesSubscribedToPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the price per share of shares subscribed to.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SharesSubscribedToPricePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_SharesSubscribedToValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the value of shares subscribed to.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_SharesSubscribedToValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_IT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_IT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedDefinedBenefitEmployeeRetirementPlanForCertainSeniorOfficersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_Canada1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_Canada1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_OCTGUSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_OCTGUSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_InformationSystemProjectsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_InformationSystemProjectsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_TrademarksMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_TrademarksMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_MaverickAcquisitionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_MaverickAcquisitionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_HydrillAcquisitionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_HydrillAcquisitionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ts_LicensesPatentsTrademarksAndProprietaryTechnologyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_UsiminasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_UsiminasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfContractsAxis=ts_TheNewSHAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfContractsAxis=ts_TheNewSHAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_TTGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_TTGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_TerniumEntititesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_TerniumEntititesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_ConfabMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_ConfabMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_NSSMCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_NSSMCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_PrevidenciaUsiminasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_PrevidenciaUsiminasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_TerniumSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_TerniumSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=ts_TechgenSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=ts_TechgenSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_TecpetrolInternationalSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_TecpetrolInternationalSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_TenarisMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_TenarisMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_TerniumSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_TerniumSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ts_UsiminasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>138
<FILENAME>R70.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804003184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 22 - Non-current Allowances and Provisions (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock', window );">Disclosure of detailed information about non-current allowances and provisions deducted from non-current receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(641</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">531</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock', window );">Disclosure of detailed information about non-current allowances and provisions from liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,089</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,438</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,571</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,261</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Additional provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,904</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,397</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,641</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,406</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,464</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,079</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,599</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,089</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about non-current allowances and provisions deducted from non-current receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsDeductedFromNoncurrentReceivablesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about non-current allowances and provisions from liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutNoncurrentAllowancesAndProvisionsFromLiabilitiesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>139
<FILENAME>R148.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808510240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 26 - Agreement to Build a Welded Pipe Plant in West Siberia (Details Textual) - Welded pipe plant in West Siberia [member]<br> $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Feb. 05, 2019 </div>
<div>USD ($) </div>
<div>t</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture</a></td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVentures', window );">Investments in joint ventures</a></td>
<td class="nump">$ 280.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManufacturingCapacitySteelPipes', window );">Manufacturing capacity, steel pipes (Metric Ton) | t</a></td>
<td class="nump">300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities', window );">Other cash payments to acquire interests in joint ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=ts_WeldedPipePlantInWestSiberiaMember', window );">PAO Severstal [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture</a></td>
<td class="nump">51.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in joint ventures in an entity's separate financial statements. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to acquire interests in joint ventures (other than payments for those instruments considered to be cash equivalents or those held for dealing or trading purposes), classified as investing activities. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ManufacturingCapacitySteelPipes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of steel pipe manufacturing capacity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ManufacturingCapacitySteelPipes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=ts_WeldedPipePlantInWestSiberiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=ts_WeldedPipePlantInWestSiberiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=ts_PAOPSeverstalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=ts_PAOPSeverstalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>140
<FILENAME>R53.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790233744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock', window );">Disclosure of detailed information about labor costs [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Wages, salaries and social security costs</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,274,474</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,250,783</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,144,341</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Severance indemnities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,637</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,225</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,497</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Defined contribution plans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,663</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,217</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,401</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Pension benefits - defined benefit plans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,207</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,390</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,066</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Employee retention and long term incentive program</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,134</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,353</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,441</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,352,115</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,325,968</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,221,746</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(853</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,352,115</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,325,968</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,220,893</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock', window );">Disclosure of information about number of employees [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center; border-top: Black 1pt solid">Country</td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Argentina</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,405</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,427</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,221</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Mexico</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,370</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,595</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,139</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,255</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,382</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,953</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Italy</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,144</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,155</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,088</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Romania</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,815</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,852</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,870</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Brazil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,360</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,287</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,382</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Colombia</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,040</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,082</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,003</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Canada</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">772</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,030</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">919</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Indonesia</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">616</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">554</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">506</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Japan</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">400</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">399</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">410</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt">Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,023</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,204</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,114</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,200</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,967</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,605</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about labor costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutLaborCostsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about the number of employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfInformationAboutNumberOfEmployeesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>141
<FILENAME>R144.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6667874304">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Note 24 - Derivative Financial Instruments - Net Fair Values (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivatives with positive fair values</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 19,929<span></span>
</td>
<td class="nump">$ 9,225<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivatives with negative fair values</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,814)<span></span>
</td>
<td class="num">(11,978)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,115<span></span>
</td>
<td class="num">(2,753)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis=ts_DerivativesHedgingBorrowingsAndInvestmentsMember', window );">Derivatives hedging borrowings and investments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivatives with positive fair values</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,000<span></span>
</td>
<td class="nump">5,604<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivatives with negative fair values</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="num">(11,667)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis=ts_OtherDerivativesMember', window );">Other derivatives [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivatives with positive fair values</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">929<span></span>
</td>
<td class="nump">3,621<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivatives with negative fair values</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">$ (1,814)<span></span>
</td>
<td class="num">$ (311)<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2018 includes $52 thousand of non-current derivatives.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DerivativeFinancialAssetsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets (liabilities) classified as derivative instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DerivativeFinancialAssetsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis=ts_DerivativesHedgingBorrowingsAndInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis=ts_DerivativesHedgingBorrowingsAndInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis=ts_OtherDerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialInstrumentsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRiskAxis=ts_OtherDerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>142
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790614928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Property, Plant and Equipment, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory', window );">Disclosure of detailed information about property, plant and equipment [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and <br /> civil <br /> buildings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Industrial <br /> buildings, <br /> plant and <br /> production <br /> equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vehicles, <br /> furniture <br /> and <br /> fixtures</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Work in <br /> progress</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Spare <br /> parts and <br /> equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 22%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">732,578</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,121,569</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">377,260</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">127,378</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,197</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,421,982</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,611</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38,961</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,615</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(864</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(256</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(43,307</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations (*)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59,468</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">115,908</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,733</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,630</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">178,739</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,178</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,107</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">299,412</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,202</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">313,915</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals / Consumptions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(35</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27,153</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,110</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,120</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,557</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38,975</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers / Reclassifications</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,723</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">296,272</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,349</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(317,128</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(11,984</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,232</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">799,139</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,468,813</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">399,724</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">108,308</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60,602</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,836,586</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110,914</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,936,900</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">310,260</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,358,074</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(420</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(24,973</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,485</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(26,878</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,409</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">415,826</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,080</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">447,315</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(362</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(400</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Disposals / Consumptions</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(73</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(25,580</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,889</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(31,542</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">121,468</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,302,135</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">322,966</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,746,569</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">677,671</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,166,678</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">76,758</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">108,308</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60,602</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,090,017</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and<br /> civil <br /> buildings</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Industrial <br /> buildings, <br /> plant and <br /> production <br /> equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Vehicles, <br /> furniture <br /> and <br /> fixtures</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Work in <br /> progress</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Spare <br /> parts and <br /> equipment</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 22%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">712,061</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,954,585</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">370,542</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">167,079</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,413</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,246,680</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,628</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(117,977</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,458</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,269</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(424</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(131,756</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">723</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">681</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,245</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">294,163</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,756</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">317,568</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Disposals / Consumptions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(221</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,836</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,269</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(42</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,541</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(35,909</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers / Reclassifications</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,643</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">306,116</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,200</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(331,553</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,993</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,399</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Values at the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">732,578</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,121,569</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">377,260</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">127,378</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,197</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,421,982</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Accumulated at the beginning of the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">101,197</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,612,871</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">303,469</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,017,537</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,383</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(72,141</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,939</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(78,463</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Depreciation charge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,153</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">417,229</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,083</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">449,465</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfers / Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">173</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(671</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(498</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Disposals / Consumptions</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(53</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,232</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(8,682</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(29,967</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Accumulated at the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110,914</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,936,900</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">310,260</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,358,074</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">621,664</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,184,669</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">67,000</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">127,378</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,197</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,063,908</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>143
<FILENAME>R140.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810009072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 22 - Non-current Allowances and Provisions - Liabilities (Details) - Provision for non-current liabilities [member] - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the beginning of the year</a></td>
<td class="nump">$ 36,089<span></span>
</td>
<td class="nump">$ 36,438<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences</a></td>
<td class="num">(1,571)<span></span>
</td>
<td class="num">(5,261)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additional provisions</a></td>
<td class="nump">19,904<span></span>
</td>
<td class="nump">14,397<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions', window );">Reclassifications</a></td>
<td class="nump">5,641<span></span>
</td>
<td class="num">(2,406)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Used</a></td>
<td class="num">(5,464)<span></span>
</td>
<td class="num">(7,079)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the end of the year</a></td>
<td class="nump">$ 54,599<span></span>
</td>
<td class="nump">$ 36,089<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalProvisionsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additional other provisions made. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalProvisionsOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from foreign currency exchange rate changes on provisions measured in a currency different from the entity's presentation currency. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from transfers and changes that the entity does not separately disclose in the same statement or note. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionUsedOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount used (ie incurred and charged against the provision) for other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionUsedOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ts_ProvisionForNoncurrentLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ts_ProvisionForNoncurrentLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>144
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6809357744">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statement of Financial Position - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, net</a></td>
<td class="nump">$ 6,090,017<span></span>
</td>
<td class="nump">$ 6,063,908<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets, net</a></td>
<td class="nump">1,561,559<span></span>
</td>
<td class="nump">1,465,965<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets, net</a></td>
<td class="nump">233,126<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investments in non-consolidated companies</a></td>
<td class="nump">879,965<span></span>
</td>
<td class="nump">805,568<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Other investments</a></td>
<td class="nump">24,934<span></span>
</td>
<td class="nump">118,155<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">225,680<span></span>
</td>
<td class="nump">181,606<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivables', window );">Receivables, net</a></td>
<td class="nump">157,103<span></span>
</td>
<td class="nump">151,905<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non-current assets</a></td>
<td class="nump">9,172,384<span></span>
</td>
<td class="nump">8,787,107<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventories, net</a></td>
<td class="nump">2,265,880<span></span>
</td>
<td class="nump">2,524,341<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets', window );">Receivables and prepayments, net</a></td>
<td class="nump">104,575<span></span>
</td>
<td class="nump">155,885<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsCurrent', window );">Current tax assets</a></td>
<td class="nump">167,388<span></span>
</td>
<td class="nump">121,332<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables, net</a></td>
<td class="nump">1,348,160<span></span>
</td>
<td class="nump">1,737,366<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="nump">19,929<span></span>
</td>
<td class="nump">9,173<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Other investments</a></td>
<td class="nump">210,376<span></span>
</td>
<td class="nump">487,734<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">1,554,299<span></span>
</td>
<td class="nump">428,361<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets</a></td>
<td class="nump">5,670,607<span></span>
</td>
<td class="nump">5,464,192<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">14,842,991<span></span>
</td>
<td class="nump">14,251,299<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Capital and reserves attributable to owners of the parent</a></td>
<td class="nump">11,988,958<span></span>
</td>
<td class="nump">11,782,882<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">197,414<span></span>
</td>
<td class="nump">92,610<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">12,186,372<span></span>
</td>
<td class="nump">11,875,492<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Borrowings</a></td>
<td class="nump">40,880<span></span>
</td>
<td class="nump">29,187<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">192,318<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">336,982<span></span>
</td>
<td class="nump">379,039<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Other liabilities</a></td>
<td class="nump">251,383<span></span>
</td>
<td class="nump">213,129<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisions', window );">Provisions</a></td>
<td class="nump">54,599<span></span>
</td>
<td class="nump">36,089<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non-current liabilities</a></td>
<td class="nump">876,162<span></span>
</td>
<td class="nump">657,444<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Borrowings</a></td>
<td class="nump">781,272<span></span>
</td>
<td class="nump">509,820<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">37,849<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="nump">1,814<span></span>
</td>
<td class="nump">11,978<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Current tax liabilities</a></td>
<td class="nump">127,625<span></span>
</td>
<td class="nump">250,233<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentLiabilities', window );">Other liabilities</a></td>
<td class="nump">176,264<span></span>
</td>
<td class="nump">165,693<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentProvisions', window );">Provisions</a></td>
<td class="nump">17,017<span></span>
</td>
<td class="nump">24,283<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAdvances', window );">Customer advances</a></td>
<td class="nump">82,729<span></span>
</td>
<td class="nump">62,683<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="nump">555,887<span></span>
</td>
<td class="nump">693,673<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="nump">1,780,457<span></span>
</td>
<td class="nump">1,718,363<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="nump">2,656,619<span></span>
</td>
<td class="nump">2,375,807<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total equity and liabilities</a></td>
<td class="nump">$ 14,842,991<span></span>
</td>
<td class="nump">$ 14,251,299<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.
Effective 2020-01-01: The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current payments received for goods or services to be provided in the future. [Refer: Advances received]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings and current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current prepayments and other current assets. [Refer: Other current assets; Current prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current provisions. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph l<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities. [Refer: Current tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph r<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Paragraph 36<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.
Effective 2020-01-01: The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 12<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph q<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2019-01-01<br> -Paragraph 22<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=10&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current investments other than investments accounted for using the equity method. [Refer: Investments accounted for using equity method; Non-current assets; Investments other than investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph l<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables and non-current other receivables. [Refer: Non-current trade receivables; Other non-current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 53<br> -Subparagraph j<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>145
<FILENAME>R128.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6794846544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 19 - Borrowings - Borrowings Evolution (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">At the beginning of the year, noncurrent</a></td>
<td class="nump">$ 29,187<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">At the beginning of the year, current</a></td>
<td class="nump">509,820<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfTranslationDifferencesOnLongtermBorrowings', window );">Translation differences, noncurrent</a></td>
<td class="num">(229)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Translation differences, current</a></td>
<td class="nump">669<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings', window );">Proceeds and repayments, net, noncurrent</a></td>
<td class="num">(4,582)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Proceeds and repayments, net, current</a></td>
<td class="nump">203,931<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings', window );">Interests Accrued less payments, noncurrent</a></td>
<td class="nump">304<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interests Accrued less payments, current</a></td>
<td class="nump">2,950<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfReclassificationsOnLongtermBorrowings', window );">Reclassifications, noncurrent</a></td>
<td class="num">(11,733)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Reclassifications, current</a></td>
<td class="nump">11,733<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfBusinessCombinationsOnLongtermBorrowings', window );">Increase due to Business Combinations</a></td>
<td class="nump">27,933<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Increase due to Business Combinations</a></td>
<td class="nump">53,789<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfOverdraftsVariationOnLongtermBorrowings', window );">Overdrafts variation, noncurrent</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Overdrafts variation, current</a></td>
<td class="num">(1,620)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">At the end of the year, noncurrent</a></td>
<td class="nump">40,880<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">At the end of the year, current</a></td>
<td class="nump">$ 781,272<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings and current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the effect of business combinations on current borrowing borrowings and the current portion of non-current borrowings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfBusinessCombinationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfBusinessCombinationsOnLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the effect of business combinations on long-term borrowings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfBusinessCombinationsOnLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the non-current portion of non-current borrowings resulting from interests accrued net of payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfInterestsAccruedNetOfPaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the non-current portion of non-current borrowings resulting from interests accrued net of payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfInterestsAccruedNetOfPaymentsOnLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the total current borrowings and current portion of non-current borrowings resulting from net proceeds and repayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfNetProceedsAndRepaymentsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the non-current portion of non-current borrowings resulting from net proceeds and repayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfNetProceedsAndRepaymentsOnLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the current borrowings and current portion of non-current borrowings resulting from overdrafts variation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfOverdraftsVariationOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfOverdraftsVariationOnLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the non-current portion of non-current borrowings resulting from overdrafts variation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfOverdraftsVariationOnLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the total current borrowings and current portion of non-current borrowings resulting from reclassifications.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfReclassificationsOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfReclassificationsOnLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the non-current portion of non-current borrowings resulting from reclassifications.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfReclassificationsOnLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the current borrowings and current portion of non-current borrowings resulting from translation differences.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfTranslationDifferencesOnCurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EffectOfTranslationDifferencesOnLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the non-current portion of non-current borrowings resulting from translation differences.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EffectOfTranslationDifferencesOnLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>146
<FILENAME>R120.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790436784">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 17 - Trade Receivables, Net - Summary of Current Trade Receivables (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesCurrentAccounts', window );">Current accounts</a></td>
<td class="nump">$ 1,387,494<span></span>
</td>
<td class="nump">$ 1,778,796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties', window );">Receivables from related parties</a></td>
<td class="nump">9,448<span></span>
</td>
<td class="nump">25,105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesGross', window );">Current trade receivables, gross</a></td>
<td class="nump">1,396,942<span></span>
</td>
<td class="nump">1,803,901<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts', window );">Allowance for doubtful accounts (see Note 23 (i))</a></td>
<td class="num">(48,782)<span></span>
</td>
<td class="num">(66,535)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">$ 1,348,160<span></span>
</td>
<td class="nump">$ 1,737,366<span></span>
</td>
<td class="nump">$ 1,214,060<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables due from related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents a valuation allowance for trade receivables due to an Entity within one year (or one operating cycle if longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentTradeReceivablesAllowanceForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentTradeReceivablesCurrentAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of current accounts attributable to current trade receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentTradeReceivablesCurrentAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_CurrentTradeReceivablesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross amount of current trade receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_CurrentTradeReceivablesGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>147
<FILENAME>R37.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790411248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 27 - Business Combinations<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsExplanatory', window );">Disclosure of business combinations [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 38.9pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">27</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Business combinations</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Acquisition of Saudi Steel Pipe Company</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-family: Wingdings">&sect; </div>Acquisition</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> January 21, 2019, </div>Tenaris acquired <div style="display: inline; font-style: italic; font: inherit;">47.79%</div> of the shares of SSP, a welded steel pipes producer listed on the Saudi stock market, for a total amount of <div style="display: inline; font-style: italic; font: inherit;">SAR530</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$141</div> million). The amount was paid with Tenaris cash in hand. SSP&#x2019;s facilities are located in the Eastern Province of the Kingdom of Saudi Arabia and have a manufacturing capacity of <div style="display: inline; font-style: italic; font: inherit;">360,000</div> tons per year. SSP started its operations in <div style="display: inline; font-style: italic; font: inherit;">1980</div> and serves energy industrial and commercial segments, is qualified to supply products with major national oil companies in the region.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Upon closing of the acquisition, <div style="display: inline; font-style: italic; font: inherit;">four</div> Tenaris&#x2019;s nominees were appointed as new members of the SSP&#x2019;s board of directors and a Tenaris senior executive was appointed as managing director and chief executive officer of SSP. Such appointment was ratified at the shareholders meeting of SSP held on <div style="display: inline; font-style: italic; font: inherit;"> May 7, 2019, </div>where the shareholders also approved the reappointment of the Tenaris&#x2019;s nominees until <div style="display: inline; font-style: italic; font: inherit;"> June 6, 2022.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has begun consolidating SSP&#x2019;s balances and results of operations as from <div style="display: inline; font-style: italic; font: inherit;"> January 21, 2019.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td>Fair value of net assets acquired</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The application of the purchase method requires certain estimates and assumptions specially concerning the determination of the fair values of the acquired intangible assets and property, plant and equipment as well as the liabilities assumed at the date of the acquisition. The fair values determined at the acquisition date are based mainly on discounted cash flows and other valuation techniques.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The allocation of the fair values determined for the assets and liabilities arising from the acquisition is as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: justify">Fair value of acquired assets and liabilities:</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">SAR million</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">$ million</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Property, Plant and Equipment</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">671</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">179</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Customer relationship</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">305</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Investment in associated</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">77</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Working capital</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">167</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">45</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash and Cash Equivalents</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other Receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(304</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(81</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Employees end of service benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(59</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred Tax Liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(47</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(13</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Net assets acquired</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">853</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">228</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris acquired <div style="display: inline; font-style: italic; font: inherit;">47.79%</div> of total assets and liabilities shown above, approximately <div style="display: inline; font-style: italic; font: inherit;">$109</div> million. As of the result of the acquisition, the Company recognized a Goodwill of approximately <div style="display: inline; font-style: italic; font: inherit;">$32.9</div> million. Tenaris has chosen to recognize the non-controlling interest at the proportionate share of the acquiree&#x2019;s net identifiable assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The acquired business contributed revenues for <div style="display: inline; font-style: italic; font: inherit;">$170.6</div> million with a minor contribution to Tenaris&#x2019;s margin for the period starting <div style="display: inline; font-style: italic; font: inherit;"> January 21, 2019 </div>and ending <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If the acquisition had occurred on <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019, </div>consolidated revenue and profit after tax would have <div style="display: inline; font-style: italic; font: inherit;">not</div> changed significantly.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">The purchase price allocation has been done with the assistance of a <div style="display: inline; font-style: italic; font: inherit;">third</div> party expert.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Acquisition of Garrett</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;"> September 2017, </div>Tenaris acquired <div style="display: inline; font-style: italic; font: inherit;">100%</div> of Garrett (a pipe services and trucking business) through the payment of a price of <div style="display: inline; font-style: italic; font: inherit;">$10.4</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><br /> If the acquisition had occurred on <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2017, </div>Tenaris&#x2019;s unaudited pro forma net sales and net income from continuing operations would <div style="display: inline; font-style: italic; font: inherit;">not</div> have changed materially.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfBusinessCombinationsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for business combinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Section Disclosures<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IFRS03_g59-63_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfBusinessCombinationsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>148
<FILENAME>R124.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796633424">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Note 19 - Borrowings - Maturity of Borrowings (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 822,152<span></span>
</td>
<td class="nump">$ 539,007<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest to be accrued (*)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12,532<span></span>
</td>
<td class="nump">10,692<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_BorrowingsIncludingInterestToBeAccrued', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">834,684<span></span>
</td>
<td class="nump">549,699<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">781,272<span></span>
</td>
<td class="nump">509,820<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest to be accrued (*)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">11,370<span></span>
</td>
<td class="nump">8,182<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_BorrowingsIncludingInterestToBeAccrued', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">792,642<span></span>
</td>
<td class="nump">518,002<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,307<span></span>
</td>
<td class="nump">4,271<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest to be accrued (*)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,045<span></span>
</td>
<td class="nump">1,175<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_BorrowingsIncludingInterestToBeAccrued', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,352<span></span>
</td>
<td class="nump">5,446<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">Later than two years and not later than three years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">23,573<span></span>
</td>
<td class="nump">4,771<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest to be accrued (*)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">117<span></span>
</td>
<td class="nump">1,166<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_BorrowingsIncludingInterestToBeAccrued', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">23,690<span></span>
</td>
<td class="nump">5,937<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">Later than three years and not later than four years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">20,145<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest to be accrued (*)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">169<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_BorrowingsIncludingInterestToBeAccrued', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">20,314<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">Later than four years and not later than five years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest to be accrued (*)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_BorrowingsIncludingInterestToBeAccrued', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Later than five years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest to be accrued (*)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_BorrowingsIncludingInterestToBeAccrued', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_OtherBorrowingsMember', window );">Other borrowings [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">822,152<span></span>
</td>
<td class="nump">538,963<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_OtherBorrowingsMember', window );">Other borrowings [member] | Not later than one year [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">781,272<span></span>
</td>
<td class="nump">509,776<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_OtherBorrowingsMember', window );">Other borrowings [member] | Later than one year and not later than two years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,307<span></span>
</td>
<td class="nump">4,271<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_OtherBorrowingsMember', window );">Other borrowings [member] | Later than two years and not later than three years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">23,573<span></span>
</td>
<td class="nump">4,771<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_OtherBorrowingsMember', window );">Other borrowings [member] | Later than three years and not later than four years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">20,145<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_OtherBorrowingsMember', window );">Other borrowings [member] | Later than four years and not later than five years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_OtherBorrowingsMember', window );">Other borrowings [member] | Later than five years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember', window );">Finance lease liabilities [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">44<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember', window );">Finance lease liabilities [member] | Not later than one year [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember', window );">Finance lease liabilities [member] | Later than one year and not later than two years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember', window );">Finance lease liabilities [member] | Later than two years and not later than three years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember', window );">Finance lease liabilities [member] | Later than three years and not later than four years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember', window );">Finance lease liabilities [member] | Later than four years and not later than five years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember', window );">Finance lease liabilities [member] | Later than five years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt', window );">Total borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes the effect of hedge accounting.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest recognised as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_BorrowingsIncludingInterestToBeAccrued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of borrowings including interest to be accrued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_BorrowingsIncludingInterestToBeAccrued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current borrowings before the costs of issue of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NoncurrentBorrowingsBeforeCostsOfIssueOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ts_OtherBorrowingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ts_OtherBorrowingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ts_FinanceLeaseLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>149
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803980304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Current Allowances and Provisions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock', window );">Disclosure of current allowances and provisions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 38.75pt"><div style="display: inline; font-style: italic; font: inherit;">23</div></td> <td>Current allowances and provisions</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: normal"><div style="display: inline; font-style: italic;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deducted from assets</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for doubtful<br /> accounts - Trade receivables</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for other doubtful<br /> accounts - Other receivables</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for <br /> inventory obsolescence</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 49%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(66,535</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,784</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(209,796</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">88</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">794</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,788</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,761</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Additional / reversals allowances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,256</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,239</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(29,138</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,276</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">565</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,184</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(48,782</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,892</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(217,717</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for doubtful<br /> accounts - Trade receivables</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for other doubtful<br /> accounts - Other receivables</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for <br /> inventory obsolescence</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 49%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(78,385</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,255</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(216,068</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,423</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">329</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">359</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,575</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Additional allowances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,751</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,179</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(25,457</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,849</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">291</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,154</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(66,535</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,784</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(209,796</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <!-- Field: Page; Sequence: 152 -->   <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-style: italic;">(ii)</div></td> <td><div style="display: inline; font-style: italic;">Liabilities</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Sales risks</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other claims and<br /> contingencies</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,814</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,469</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,283</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(28</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(570</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(598</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">505</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,000</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,505</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Additional/ reversals provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,880</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,219</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,661</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,641</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,641</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(13,304</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,889</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(18,193</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,867</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,150</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,017</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-style: italic;"></div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Sales risks</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other claims and<br /> contingencies</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,396</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,934</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32,330</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(103</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,205</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,308</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Additional provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,638</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,463</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,101</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,406</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,406</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,117</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,129</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,246</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,814</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,469</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,283</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of current allowances and provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfCurrentAllowancesAndProvisionsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>150
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804072288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>I. General Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory', window );">Disclosure of general information about financial statements [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; text-transform: uppercase"><div style="display: inline; font-weight: bold;">I. GENERAL INFORMATION</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris S.A. (the &#x201c;Company&#x201d;) was established as a public limited liability company (<div style="display: inline; font-style: italic;">societ&eacute; anonyme</div>) under the laws of the Grand-Duchy of Luxembourg on <div style="display: inline; font-style: italic; font: inherit;"> December 17, 2001. </div>The Company holds, either directly or indirectly, controlling interests in various subsidiaries in the steel pipe manufacturing and distribution businesses. References in these Consolidated Financial Statements to &#x201c;Tenaris&#x201d; refer to the Company and its consolidated subsidiaries. A list of the principal Company&#x2019;s subsidiaries is included in Note <div style="display: inline; font-style: italic; font: inherit;">32</div> to these Consolidated Financial Statements.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#x2019;s shares trade on the Italian Stock Exchange and the Mexican Stock Exchange; the Company&#x2019;s American Depositary Securities (&#x201c;ADS&#x201d;) trade on the New York Stock Exchange.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">These Consolidated Financial Statements were approved for issuance by the Company&#x2019;s Board of Directors on <div style="display: inline; font-style: italic; font: inherit;"> February 19, 2020.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for general information about financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 51<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_51&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>151
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790146288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Dividends Distribution<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDividendsExplanatory', window );">Disclosure of dividends [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-style: italic; font: inherit;">8</div></td> <td>Dividends distribution</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal">On <div style="display: inline; font-style: italic; font: inherit;"> October 30, 2019, </div>the Company&#x2019;s Board of Directors approved the payment of an interim dividend of <div style="display: inline; font-style: italic; font: inherit;">$0.13</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.26</div> per ADS), or approximately <div style="display: inline; font-style: italic; font: inherit;">$153</div> million, paid on <div style="display: inline; font-style: italic; font: inherit;"> November 20, 2019, </div>with an ex-dividend date of <div style="display: inline; font-style: italic; font: inherit;"> November 18, 2019.</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> May 6, 2019, </div>the Company&#x2019;s Shareholders approved an annual dividend in the amount of <div style="display: inline; font-style: italic; font: inherit;">$0.41</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.82</div> per ADS). The amount approved included the interim dividend previously paid on <div style="display: inline; font-style: italic; font: inherit;"> November 21, 2018 </div>in the amount of <div style="display: inline; font-style: italic; font: inherit;">$0.13</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.26</div> per ADS). The balance, amounting to <div style="display: inline; font-style: italic; font: inherit;">$0.28</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.56</div> per ADS), was paid on <div style="display: inline; font-style: italic; font: inherit;"> May 22, 2019. </div>In the aggregate, the interim dividend paid in <div style="display: inline; font-style: italic; font: inherit;"> November 2018 </div>and the balance paid in <div style="display: inline; font-style: italic; font: inherit;"> May 2019 </div>amounted to approximately <div style="display: inline; font-style: italic; font: inherit;">$484</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: normal">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> May 2, 2018, </div>the Company&#x2019;s Shareholders approved an annual dividend in the amount of <div style="display: inline; font-style: italic; font: inherit;">$0.41</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.82</div> per ADS). The amount approved included the interim dividend previously paid on <div style="display: inline; font-style: italic; font: inherit;"> November 22, 2017 </div>in the amount of <div style="display: inline; font-style: italic; font: inherit;">$0.13</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.26</div> per ADS). The balance, amounting to <div style="display: inline; font-style: italic; font: inherit;">$0.28</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.56</div> per ADS), was paid on <div style="display: inline; font-style: italic; font: inherit;"> May 23, 2018. </div>In the aggregate, the interim dividend paid in <div style="display: inline; font-style: italic; font: inherit;"> November 2017 </div>and the balance paid in <div style="display: inline; font-style: italic; font: inherit;"> May 2018 </div>amounted to approximately <div style="display: inline; font-style: italic; font: inherit;">$484</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> May 3, 2017, </div>the Company&#x2019;s Shareholders approved an annual dividend in the amount of <div style="display: inline; font-style: italic; font: inherit;">$0.41</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.82</div> per ADS). The amount approved included the interim dividend previously paid on <div style="display: inline; font-style: italic; font: inherit;"> November 23, 2016 </div>in the amount of <div style="display: inline; font-style: italic; font: inherit;">$0.13</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.26</div> per ADS). The balance, amounting to <div style="display: inline; font-style: italic; font: inherit;">$0.28</div> per share (<div style="display: inline; font-style: italic; font: inherit;">$0.56</div> per ADS), was paid on <div style="display: inline; font-style: italic; font: inherit;"> May 24, 2017. </div>In the aggregate, the interim dividend paid in <div style="display: inline; font-style: italic; font: inherit;"> November 2016 </div>and the balance paid in <div style="display: inline; font-style: italic; font: inherit;"> May 2017 </div>amounted to approximately <div style="display: inline; font-style: italic; font: inherit;">$484</div> million.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDividendsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDividendsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>152
<FILENAME>R107.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6836103648">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 10 - Intangible Assets, Net - Goodwill Allocated by CGU (Details)<br> $ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">$ 1,320<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_OCTGUSAMember', window );">OCTG (USA) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">225<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_TamsaHydrilAndOtherMember', window );">Tamsa (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">365<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_SidercaHydrilAndOtherMember', window );">Siderca (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">358<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_HydrilMember', window );">Hydril [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">309<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember', window );">CONFAB INDUSTRIAL S.A. and subsidiaries [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_CoiledTubingMember', window );">Coiled Tubing [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_OtherCguMember', window );">Other CGU [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">59<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">171<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | OCTG (USA) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Tamsa (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Siderca (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">93<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydril [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | CONFAB INDUSTRIAL S.A. and subsidiaries [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Coiled Tubing [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Other CGU [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">59<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Maverick acquisition [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">225<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Maverick acquisition [member] | OCTG (USA) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">225<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Maverick acquisition [member] | Tamsa (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Maverick acquisition [member] | Siderca (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Maverick acquisition [member] | Hydril [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Maverick acquisition [member] | CONFAB INDUSTRIAL S.A. and subsidiaries [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Maverick acquisition [member] | Coiled Tubing [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Maverick acquisition [member] | Other CGU [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydrill acquisition [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">920<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydrill acquisition [member] | OCTG (USA) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydrill acquisition [member] | Tamsa (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">346<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydrill acquisition [member] | Siderca (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">265<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydrill acquisition [member] | Hydril [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">309<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydrill acquisition [member] | CONFAB INDUSTRIAL S.A. and subsidiaries [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydrill acquisition [member] | Coiled Tubing [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member] | Hydrill acquisition [member] | Other CGU [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">All other segments [member] | Maverick acquisition [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">All other segments [member] | Maverick acquisition [member] | OCTG (USA) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">All other segments [member] | Maverick acquisition [member] | Tamsa (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">All other segments [member] | Maverick acquisition [member] | Siderca (Hydril and other) [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">All other segments [member] | Maverick acquisition [member] | Hydril [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">All other segments [member] | Maverick acquisition [member] | CONFAB INDUSTRIAL S.A. and subsidiaries [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">All other segments [member] | Maverick acquisition [member] | Coiled Tubing [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">All other segments [member] | Maverick acquisition [member] | Other CGU [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 134<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2019-01-01<br> -Paragraph 135<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_OCTGUSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_OCTGUSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_TamsaHydrilAndOtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_TamsaHydrilAndOtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_SidercaHydrilAndOtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_SidercaHydrilAndOtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_HydrilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_HydrilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_ConfabIndustrialSaAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_CoiledTubingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_CoiledTubingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_OtherCguMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis=ts_OtherCguMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ts_TubesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ts_TubesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_MaverickAcquisitionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_MaverickAcquisitionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_HydrillAcquisitionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_HydrillAcquisitionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>153
<FILENAME>R10.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804042992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>III. Financial Risk Management<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory', window );">Disclosure of financial instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in">iii. Financial risk management</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The multinational nature of Tenaris&#x2019;s operations and customer base exposes the Company to a variety of risks, mainly related to market risks (including the effects of changes in foreign currency exchange rates and interest rates), credit risk and capital market risk. In order to manage the volatility related to these exposures, management evaluates exposures on a consolidated basis, taking advantage of exposure netting. The Company or its subsidiaries <div style="display: inline; font-style: italic; font: inherit;"> may </div>then enter into various derivative transactions in order to prevent potential adverse impacts on Tenaris&#x2019;s financial performance. Such derivative transactions are executed in accordance with internal policies and hedging practices.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">A. Financial Risk Factors</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(i)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Capital Risk Management</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris seeks to maintain a low debt to total equity ratio considering the industry and the markets where it operates. The year-end ratio of debt to total equity (where &#x201c;debt&#x201d; comprises financial borrowings and &#x201c;total equity&#x201d; is the sum of financial borrowings and equity) is <div style="display: inline; font-style: italic; font: inherit;">0.06</div> as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">0.04</div> as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2018. </div>The Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> have to comply with regulatory capital adequacy requirements.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: justify; text-indent: 0in"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(ii)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Foreign exchange risk</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris manufactures and sells its products in a number of countries throughout the world and consequently is exposed to foreign exchange rate risk. Since the Company&#x2019;s functional currency is the U.S. dollar the purpose of Tenaris&#x2019;s foreign currency hedging program is mainly to reduce the risk caused by changes in the exchange rates of other currencies against the U.S. dollar.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#x2019;s exposure to currency fluctuations is reviewed on a periodic consolidated basis. A number of derivative transactions are performed in order to achieve an efficient coverage in the absence of operative or natural hedges. Almost all of these transactions are forward exchange rates contracts. See Note <div style="display: inline; font-style: italic; font: inherit;">24.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris does <div style="display: inline; font-style: italic; font: inherit;">not</div>&nbsp;enter into derivative financial instruments for trading or other speculative purposes, other than non-material investments in structured products.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In the case of subsidiaries with functional currencies other than the U.S. dollar, the results of hedging activities, reported in accordance with IFRS, <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> reflect entirely the management&#x2019;s assessment of its foreign exchange risk hedging program. Intercompany balances between Tenaris&#x2019;s subsidiaries <div style="display: inline; font-style: italic; font: inherit;"> may </div>generate financial gains (losses) to the extent that functional currencies differ.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The value of Tenaris&#x2019;s financial assets and liabilities is subject to changes arising from the variation of foreign currency exchange rates. The following table provides a breakdown of Tenaris&#x2019;s main financial assets and liabilities (including foreign exchange derivative contracts) which impact the Company&#x2019;s profit and loss as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">All amounts Long / (Short) in thousands of U.S. dollars</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center">As of December 31,</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; border-bottom: Black 1pt solid">Currency Exposure / Functional currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Argentine Peso / U.S. Dollar</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(95,811</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(186,867</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Euro / U.S. Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(103,518</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(175,419</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Saudi Arabian Riyal / U. S. Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(107,582</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The main relevant exposures correspond to:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Argentine Peso / U.S. dollar</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018</div> consisting primarily of Argentine Peso-denominated financial, trade, social and fiscal payables at certain Argentine subsidiaries whose functional currency is the U.S. dollar. A change of <div style="display: inline; font-style: italic; font: inherit;">1%</div> in the ARS/USD exchange rate would have generated a pre-tax gain / loss of <div style="display: inline; font-style: italic; font: inherit;">$1.0</div> million and <div style="display: inline; font-style: italic; font: inherit;">$1.9</div> million as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018</div> respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 129 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(ii)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Foreign exchange risk (Cont.)</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Euro / U.S. dollar</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> consisting primarily of Euro-denominated intercompany liabilities at certain subsidiaries whose functional currency is the U.S. dollar. A change of <div style="display: inline; font-style: italic; font: inherit;">1%</div> in the EUR/USD exchange rate would have generated a pre-tax gain / loss of <div style="display: inline; font-style: italic; font: inherit;">$1.0</div> million and <div style="display: inline; font-style: italic; font: inherit;">$1.3</div> million as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> respectively, which would have been to a large extent offset by changes in currency translation adjustment included in Tenaris&#x2019;s net equity position.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Saudi Arabian Riyal / U. S. Dollar</td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>consisting primarily of Saudi Arabian Riyal-denominated financial and trade payables. The Saudi Arabian Riyal is tied to the dollar.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Considering the balances held as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>on financial assets and liabilities exposed to foreign exchange rate fluctuations, Tenaris estimates that the impact of a simultaneous <div style="display: inline; font-style: italic; font: inherit;">1%</div> appreciation / depreciation movement in the levels of foreign currencies exchange rates relative to the U.S. dollar, would be a pre-tax gain / loss of <div style="display: inline; font-style: italic; font: inherit;">$4.6</div> million (including a loss / gain of <div style="display: inline; font-style: italic; font: inherit;">$4.9</div> million due to foreign exchange derivative contracts), which would be partially offset by changes to Tenaris&#x2019;s net equity position of <div style="display: inline; font-style: italic; font: inherit;">$0.6</div> million. For balances held as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2018, </div>a simultaneous <div style="display: inline; font-style: italic; font: inherit;">1%</div> favorable / unfavorable movement in the foreign currencies exchange rates relative to the U.S. dollar, would have generated a pre-tax gain / loss of <div style="display: inline; font-style: italic; font: inherit;">$3.6</div> million (including a loss / gain of <div style="display: inline; font-style: italic; font: inherit;">$2.3</div> million due to foreign exchange derivative contracts), which would have been partially offset by changes to Tenaris&#x2019;s net equity position of <div style="display: inline; font-style: italic; font: inherit;">$1.9</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company entered into foreign exchange derivative contracts to mitigate the exposure to fluctuations in exchange rates.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(iii)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Interest rate risk</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris is subject to interest rate risk on its investment portfolio and its debt. The Company uses a mix of variable and fixed rate debt in combination with its investment portfolio strategy. The Company <div style="display: inline; font-style: italic; font: inherit;"> may </div>choose to enter into foreign exchange derivative contracts and / or interest rate swaps to mitigate the exposure to changes in the interest rates.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The following table summarizes the proportions of variable-rate and fixed-rate debt as of each year end.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="15" style="font-size: 10pt; font-weight: bold; text-align: center">As of December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount in thousands of U.S. dollars</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount in thousands of U.S. dollars</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left">Fixed rate (*)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">768,002</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">520,471</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">97</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Variable rate</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,150</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,536</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(*) Out of the <div style="display: inline; font-style: italic; font: inherit;">$768</div> million fixed rate borrowings, <div style="display: inline; font-style: italic; font: inherit;">$728</div> million are short-term.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company estimates that, if market interest rates applicable to Tenaris&#x2019;s borrowings had been <div style="display: inline; font-style: italic; font: inherit;">100</div> basis points higher, then the additional pre-tax loss would have been <div style="display: inline; font-style: italic; font: inherit;">$7.7</div> million in <div style="display: inline; font-style: italic; font: inherit;">2019</div> and <div style="display: inline; font-style: italic; font: inherit;">$8.2</div> million in <div style="display: inline; font-style: italic; font: inherit;">2018.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(iv)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Credit risk</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Credit risk arises from cash and cash equivalents, deposits with banks and financial institutions, as well as credit exposures to customers, including outstanding receivables and committed transactions. The Company also actively monitors the creditworthiness of its treasury, derivative and insurance counterparties in order to minimize its credit risk.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There is <div style="display: inline; font-style: italic; font: inherit;">no</div> significant concentration of credit risk from customers. <div style="display: inline; font-style: italic; font: inherit;"></div><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"></div><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">No</div> </div></div>single customer comprised more than <div style="display: inline; font-style: italic; font: inherit;">10%</div> of Tenaris&#x2019;s net sales in <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#x2019;s credit policies related to sales of products and services are designed to identify customers with acceptable credit history and to allow Tenaris to require the use of credit insurance, letters of credit and other instruments designed to minimize credit risks <div style="display: inline; color: black">whenever deemed necessary. Tenaris maintains allowances for impairment for potential credit losses.</div> See Section II J.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 130 -->   <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018</div> trade receivables amount to <div style="display: inline; font-style: italic; font: inherit;">$1,348.2</div> million and <div style="display: inline; font-style: italic; font: inherit;">$1,737.4</div> million respectively. Trade receivables have guarantees under credit insurance of <div style="display: inline; font-style: italic; font: inherit;">$178.7</div> million and <div style="display: inline; font-style: italic; font: inherit;">$181.7</div> million, letter of credit and other bank guarantees of <div style="display: inline; font-style: italic; font: inherit;">$55.2</div> million and <div style="display: inline; font-style: italic; font: inherit;">$62.3</div> million, and other guarantees of <div style="display: inline; font-style: italic; font: inherit;">$0.6</div> million and <div style="display: inline; font-style: italic; font: inherit;">$42.2</div> million as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018</div> respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> overdue trade receivables amounted to <div style="display: inline; font-style: italic; font: inherit;">$242.7</div> million and <div style="display: inline; font-style: italic; font: inherit;">$368.4</div> million, respectively. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> overdue guaranteed trade receivables amounted to <div style="display: inline; font-style: italic; font: inherit;">$28.7</div> million and <div style="display: inline; font-style: italic; font: inherit;">$31.5</div> million; and the allowance for doubtful accounts amounted to <div style="display: inline; font-style: italic; font: inherit;">$48.8</div> million and <div style="display: inline; font-style: italic; font: inherit;">$66.5</div> million respectively. Both the allowance for doubtful accounts and the existing guarantees are sufficient to cover doubtful trade receivables.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(v)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Counterparty risk</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has investment guidelines with specific parameters to limit issuer risk on marketable securities. Counterparties for derivatives and cash transactions are limited to high credit quality financial institutions, normally investment grade.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">Approximately <div style="display: inline; font-style: italic; font: inherit;">96%</div> of Tenaris&#x2019;s liquid financial assets correspond to Investment Grade-rated instruments as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>in comparison with approximately <div style="display: inline; font-style: italic; font: inherit;">83%</div> as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2018.</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(vi)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Liquidity risk</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris financing strategy aims to maintain adequate financial resources and access to additional liquidity. During <div style="display: inline; font-style: italic; font: inherit;">2019,</div> Tenaris has counted on cash flows from operations as well as additional bank financing to fund its transactions.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management maintains sufficient cash and marketable securities to finance normal operations and believes that Tenaris also has appropriate access to market for short-term working capital needs.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Liquid financial assets as a whole (comprising cash and cash equivalents and other investments) were <div style="display: inline; font-style: italic; font: inherit;">12%</div> of total assets at the end of <div style="display: inline; font-style: italic; font: inherit;">2019</div> compared to <div style="display: inline; font-style: italic; font: inherit;">7%</div> at the end of <div style="display: inline; font-style: italic; font: inherit;">2018.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has a conservative approach to the management of its liquidity, which consists of i)&nbsp;cash and cash equivalents (cash in banks, liquidity funds and investments&nbsp;with a&nbsp;maturity of less than <div style="display: inline; font-style: italic; font: inherit;">three</div> months&nbsp;at the date of purchase), and ii) Other Investments (fixed income securities, time deposits, and fund investments).</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris holds primarily investments in money market funds and variable or fixed-rate securities from investment grade issuers. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> Tenaris does <div style="display: inline; font-style: italic; font: inherit;">not</div> have direct exposure to financial instruments issued by European sovereign counterparties.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris holds its investments primarily in U.S. dollars. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> U.S. dollar denominated liquid assets represented approximately <div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">95%</div></div> of total liquid financial assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;">  <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(vii)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Commodity price risk</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">In the ordinary course of its operations, Tenaris purchases commodities and raw materials that are subject to price volatility caused by supply conditions, political and economic variables and other factors. As a consequence, Tenaris is exposed to risk resulting from fluctuations in the prices of these commodities and raw materials. Tenaris fixes the prices of such raw materials and commodities for short-term periods, typically <div style="display: inline; font-style: italic; font: inherit;">not</div> in excess of <div style="display: inline; font-style: italic; font: inherit;">one</div> year, in general Tenaris does <div style="display: inline; font-style: italic; font: inherit;">not</div> hedge this risk. </div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 131 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">B. Category of financial instruments and classification within the fair value hierarchy</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As mentioned in note II.A, the Company classifies its financial instruments in the following measurement categories: amortized cost, fair value through other comprehensive income and fair value through profit and loss.For financial instruments that are measured in the statement of financial position at fair value, IFRS <div style="display: inline; font-style: italic; font: inherit;">13,</div> &#x201c;Fair value measurement&#x201d; requires a disclosure of fair value measurements by level according to the following fair value measurement hierarchy:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Level <div style="display: inline; font-style: italic; font: inherit;">1</div> - Quoted prices (unadjusted) in active markets for identical assets or liabilities.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Level <div style="display: inline; font-style: italic; font: inherit;">2</div> - Inputs other than quoted prices included within Level <div style="display: inline; font-style: italic; font: inherit;">1</div> that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Level <div style="display: inline; font-style: italic; font: inherit;">3</div> - Inputs for the asset or liability that are <div style="display: inline; font-style: italic; font: inherit;">not</div> based on observable market data (that is, unobservable inputs).</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">The following tables present the financial instruments by category and levels as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Measurement Categories</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At Fair Value</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">December 31, 2019</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Carrying <br />amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized Cost</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVOCI</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVPL</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Assets</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,554,299</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">387,602</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,166,697</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,166,697</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other investments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">210,376</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">65,874</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,502</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">134,990</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,512</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Fixed income (time-deposit, zero coupon bonds, commercial papers)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">65,874</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">65,874</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Certificates of deposits</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,637</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,637</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Commercial papers</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,993</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,993</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other notes</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,244</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,244</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Bonds and other fixed income</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,502</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144,502</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">134,990</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,512</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">U.S. government securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,211</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,211</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,211</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non - U.S. government securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,637</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,637</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,125</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,512</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Corporates securities</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">105,654</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">105,654</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">105,654</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Derivative financial instruments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,929</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,929</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,929</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other Investments Non-current</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,934</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Bonds and other fixed income</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other investments</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,922</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade receivables</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,348,160</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Receivables C and NC (*)</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">261,678</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93,239</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other receivables</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">141,898</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">93,239</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Other receivables (non-financial)</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">119,780</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td> <td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,894,875</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">211,173</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,193,548</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,319,699</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,441</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,581</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Borrowings C and NC</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">822,152</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade payables</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">555,887</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">555,887</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Finance Lease Liabilities C and NC</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">230,167</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">230,167</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Derivative financial instruments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td> <td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,608,206</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,814</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(*) Includes balances related to interest in our Venezuelan companies. See Note <div style="display: inline; font-style: italic; font: inherit;">33.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 132 -->   <div style=" margin: 0pt 0; font-size: 10pt"></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Measurement Categories</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">At Fair Value</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">December 31, 2018</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Carrying amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized Cost</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVOCI</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">FVPL</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Assets</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,361</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">268,163</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,198</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,198</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other investments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">487,734</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,410</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">166,094</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,230</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">168,165</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Fixed income (time-deposit, zero coupon bonds, commercial papers)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,410</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,410</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Certificates of deposits</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">198,912</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">198,912</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Commercial papers</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,932</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,932</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other notes</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">91,566</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">91,566</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Bonds and other fixed income</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">187,324</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">166,094</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,230</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">168,165</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">U.S. government securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,077</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,077</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,077</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non - U.S. government securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,912</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,912</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,912</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Corporates securities</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">142,176</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">140,105</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,071</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">142,176</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Structured notes</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,159</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Derivative financial instruments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,173</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,173</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,173</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Other Investments Non-current</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,155</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Bonds and other fixed income</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">113,830</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other investments</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,326</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade receivables</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,737,366</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Receivables C and NC (*)</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">307,790</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">139,474</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,711</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other receivables</td> <td style="font-size: 10pt; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">188,185</div></td> <td style="font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">139,474</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,711</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,659</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Other receivables (non-financial)</td> <td style="font-size: 10pt; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">119,605</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td> <td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,445,413</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">328,635</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194,927</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">442,193</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,384</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,985</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Borrowings C and NC</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">539,007</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Trade payables</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">693,673</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">693,673</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; border-bottom: Black 1pt solid">Derivative financial instruments</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">Total</td> <td style="font-size: 10pt; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,232,680</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,978</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 2.25pt double">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(*) Includes balances related to interest in our Venezuelan companies. See Note <div style="display: inline; font-style: italic; font: inherit;">33.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">There were <div style="display: inline; font-style: italic; font: inherit;"></div><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">no</div> </div>transfers between levels during the year.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm&#x2019;s length basis. The quoted market price used for financial assets held by Tenaris is the current bid price. These instruments are included in Level <div style="display: inline; font-style: italic; font: inherit;">1</div> and comprise primarily corporate and sovereign debt securities.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair value of financial instruments that are <div style="display: inline; font-style: italic; font: inherit;">not</div> traded in an active market (such as certain debt securities, certificates of deposits with original maturity of more than <div style="display: inline; font-style: italic; font: inherit;">three</div> months, forward and interest rate derivative instruments) is determined by using valuation techniques which maximize the use of observable market data when available and rely as little as possible on entity specific estimates. If all significant inputs required to value an instrument are observable, the instrument is included in Level <div style="display: inline; font-style: italic; font: inherit;">2.</div> Tenaris values its assets and liabilities included in this level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied volatilities obtained from market contributors as of the valuation date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If <div style="display: inline; font-style: italic; font: inherit;">one</div> or more of the significant inputs are <div style="display: inline; font-style: italic; font: inherit;">not</div> based on observable market data, the instruments are included in Level <div style="display: inline; font-style: italic; font: inherit;">3.</div> Tenaris values its assets and liabilities in this level using observable market inputs and management assumptions which reflect the Company&#x2019;s best estimate on how market participants would price the asset or liability at measurement date. Main balances included in this level correspond to the Company interest in Venezuelan companies. See Note <div style="display: inline; font-style: italic; font: inherit;">33.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 133 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The following table presents the changes in Level <div style="display: inline; font-style: italic; font: inherit;">3</div> assets and liabilities:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Assets / Liabilities</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,985</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,409</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Addition / (Decrease)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,933</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,768</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Currency translation adjustment and others</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(337</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(192</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: left">At the end of the year</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,581</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,985</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">C. Fair value estimation </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets or liabilities classified at fair value through profit or loss are measured under the framework established by the IASB accounting guidance for fair value measurements and disclosures.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of quoted investments are generally based on current bid prices. If the market for a financial asset is <div style="display: inline; font-style: italic; font: inherit;">not</div> active or <div style="display: inline; font-style: italic; font: inherit;">no</div> market is available, fair values are established using standard valuation techniques.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair value of all outstanding derivatives is determined using specific pricing models that include inputs that are observable in the market or can be derived from or corroborated by observable data. The fair value of forward foreign exchange contracts is calculated as the net present value of the estimated future cash flows in each currency, based on observable yield curves, converted into U.S. dollars at the spot rate of the valuation date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowings are comprised primarily of fixed rate debt and variable rate debt with a short term portion where interest has already been fixed. They are classified under other financial liabilities and measured at their amortized cost. Tenaris estimates that the fair value of its main financial liabilities is approximately <div style="display: inline; font-style: italic; font: inherit;">100.0%</div> of its carrying amount including interests accrued in <div style="display: inline; font-style: italic; font: inherit;">2019</div> as compared with <div style="display: inline; font-style: italic; font: inherit;">99.3%</div> in <div style="display: inline; font-style: italic; font: inherit;">2018.</div> Fair values were calculated using standard valuation techniques for floating rate instruments and comparable market rates for discounting flows.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The carrying amount of investments valuated at amortized cost approximates its fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">D. Accounting for derivative financial instruments and hedging activities</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Derivative financial instruments are initially recognized in the statement of financial position at fair value through profit and loss on each date a derivative contract is entered into and are subsequently remeasured at fair value. Specific tools are used for calculation of each instrument&#x2019;s fair value and these tools are tested for consistency on a monthly basis. Market rates are used for all pricing operations. These include exchange rates, deposit rates and other discount rates matching the nature of each underlying risk.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As a general rule, Tenaris recognizes the full amount related to the change in fair value of derivative financial instruments in <div style="display: inline; font-style: italic;">Financial Results</div> in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris designates certain derivatives and non derivative financial liabilities (leasing liabilities denominated in Japanese Yen) as hedges of particular risks associated with recognized assets or liabilities or highly probable forecast transactions. These transactions are classified as cash flow hedges. The effective portion of the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in equity. Similarly the effective portion of the foreign exchange result on the designated leasing liability is recognized in equity Amounts accumulated in equity are then recognized in the income statement in the same period as the offsetting losses and gains on the hedged item. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. The fair value of Tenaris&#x2019;s derivative financial instruments (assets or liabilities) continues to be reflected in the statement of financial position. The lease liability will be recognized on the balance sheet at each period end at the exchange rate as of the end of each month. The full fair value of a hedging derivative and the leasing liability is classified as a current or non-current asset or liability according to its expiry date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For transactions designated and qualifying for hedge accounting, Tenaris documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. Tenaris also documents its assessment on an ongoing basis, of whether the hedging instrument are highly effective in offsetting changes in the fair value or cash flow of hedged items. At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> the effective portion of designated cash flow hedges which is included in <div style="display: inline; font-style: italic;">Other Reserves</div> in equity amounts to <div style="display: inline; background-color: white"><div style="display: inline; font-style: italic; font: inherit;">$2.6</div></div> million credit and <div style="display: inline; font-style: italic; font: inherit;">$0.9</div> million debit respectively. See Note <div style="display: inline; font-style: italic; font: inherit;">24.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of various derivative instruments used for hedging purposes and the movements of the hedging reserve included within <div style="display: inline; font-style: italic;">Other Reserves</div> in equity are disclosed in Note <div style="display: inline; font-style: italic; font: inherit;">24.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Section Scope<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IFRS07_g3-5A_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialInstrumentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>154
<FILENAME>R103.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808705840">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 9 - Property, Plant and Equipment, Net (Details Textual) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_PropertyPlantAndEquipmentCapitalizedInterest', window );">Property, plant and equipment, capitalized interest</a></td>
<td class="nump">$ 35.4<span></span>
</td>
<td class="nump">$ 37.4<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_PropertyPlantAndEquipmentCapitalizedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of capitalized interest included in property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_PropertyPlantAndEquipmentCapitalizedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>155
<FILENAME>R14.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790256688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Labor Costs - Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEmployeeBenefitsExplanatory', window );">Disclosure of employee benefits [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td>Labor costs (included in Cost of sales and in Selling, general and administrative expenses)</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Wages, salaries and social security costs</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,274,474</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,250,783</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,144,341</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Severance indemnities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,637</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,225</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,497</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Defined contribution plans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,663</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,217</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,401</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Pension benefits - defined benefit plans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,207</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,390</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,066</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Employee retention and long term incentive program</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,134</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,353</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,441</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,352,115</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,325,968</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,221,746</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(853</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,352,115</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,325,968</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,220,893</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The following table shows the geographical distribution of the employees:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center; border-top: Black 1pt solid">Country</td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="border-top: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Argentina</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,405</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,427</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,221</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Mexico</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,370</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,595</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,139</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,255</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,382</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,953</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Italy</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,144</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,155</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,088</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Romania</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,815</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,852</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,870</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Brazil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,360</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,287</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,382</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Colombia</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,040</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,082</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,003</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Canada</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">772</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,030</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">919</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Indonesia</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">616</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">554</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">506</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Japan</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">400</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">399</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">410</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt">Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,023</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,204</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,114</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,200</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,967</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,605</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfEmployeeBenefitsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for employee benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Section Scope<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;doctype=Standard&amp;dita_xref=IAS19_g2-7_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfEmployeeBenefitsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>156
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790434672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 29 - Discontinued Operations (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock', window );">Disclosure of discontinued operations net income components [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt; text-align: left">&nbsp;Income from discontinued operations</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,848</div></td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;After tax gain on the sale of Conduit</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89,694</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;Net Income for discontinued operations</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">91,542</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock', window );">Disclosure of sale of discontinued operations [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt; text-align: left">Cash received</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">331,295</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transaction and other costs</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,663</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt">Carrying amount of net assets sold</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(137,814</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Gain on sale before income tax</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">189,817</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 1pt">Income tax expense on gain</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(100,123</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Gain on sale after income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89,694</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory', window );">Disclosure of discontinued operations [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt">Revenues</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,899</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Gross profit</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,496</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">Net income</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,848</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt; text-align: left">Cash at the beginning</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,820</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Cash at the end</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">206</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">(Decrease) Increase in cash</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(18,614</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">(Used in) provided by operating activities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,046</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Provided by (used in) investing activities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Used in financing activities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(15,600</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">At January 19, 2017</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 83%; font-size: 10pt; text-align: left">Non-current assets</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">87,332</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current assets</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">69,332</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets of disposal group classified as held for sale</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">156,664</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,294</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,556</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities of disposal group classified as held for sale</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,850</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of discontinued operations. [Refer: Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDiscontinuedOperationsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of discontinued operations net income components.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDiscontinuedOperationsNetIncomeComponentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The complete disclosure of the sale of discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfSaleOfDiscontinuedOperationsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>157
<FILENAME>R162.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790329840">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 35 - Subsequent Events (Details Textual) - Acquisition of IPSCO [member] - Major business combination [member]<br> $ in Millions</strong></div></th>
<th class="th">
<div>Jan. 02, 2020 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Cash transferred</a></td>
<td class="nump">$ 1,067<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_MasterDistributionAgreementTerm', window );">Master distribution agreement, term (Year)</a></td>
<td class="text">6 years<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_MasterDistributionAgreementTermAvailableExtension', window );">Master distribution agreement, term, available extension (Month)</a></td>
<td class="text">1 year<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_MasterDistributionAgreementTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the term of a master distribution agreement, wherein the acquirer is the exclusive distributor of products.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_MasterDistributionAgreementTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_MasterDistributionAgreementTermAvailableExtension">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the term by which the master distribution agreement term may be extended at the election of the seller of the acquired entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_MasterDistributionAgreementTermAvailableExtension</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_MajorBusinessCombinationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_MajorBusinessCombinationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>158
<FILENAME>R85.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808901984">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Financial Risk Management - Proportions of Variable-rate and Fixed-rate Debt (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th" colspan="2"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Significant borrowings as of closing date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 822,152<span></span>
</td>
<td class="nump">$ 539,007<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed interest rate [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Significant borrowings as of closing date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 768,002<span></span>
</td>
<td class="nump">$ 520,471<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ConcentrationRiskPercentage', window );">Percentage</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">93.00%<span></span>
</td>
<td class="nump">97.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating interest rate [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Significant borrowings as of closing date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 54,150<span></span>
</td>
<td class="nump">$ 18,536<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ConcentrationRiskPercentage', window );">Percentage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7.00%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Out of the $768 million fixed rate borrowings, $728 million are short-term.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ConcentrationRiskPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ConcentrationRiskPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>159
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6813030304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_BuildingsAndImprovementsMember', window );">Buildings and improvements [member] | Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UsefulLivesPropertyPlantAndEquipment', window );">Property, plant and equipment (Year)</a></td>
<td class="text">30 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_BuildingsAndImprovementsMember', window );">Buildings and improvements [member] | Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UsefulLivesPropertyPlantAndEquipment', window );">Property, plant and equipment (Year)</a></td>
<td class="text">50 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_PlantAndProductionEquipmentMember', window );">Plant and production equipment [member] | Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UsefulLivesPropertyPlantAndEquipment', window );">Property, plant and equipment (Year)</a></td>
<td class="text">10 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_PlantAndProductionEquipmentMember', window );">Plant and production equipment [member] | Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UsefulLivesPropertyPlantAndEquipment', window );">Property, plant and equipment (Year)</a></td>
<td class="text">40 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember', window );">Vehicles, furniture and fixtures, and other equipment [member] | Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UsefulLivesPropertyPlantAndEquipment', window );">Property, plant and equipment (Year)</a></td>
<td class="text">4 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember', window );">Vehicles, furniture and fixtures, and other equipment [member] | Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_UsefulLivesPropertyPlantAndEquipment', window );">Property, plant and equipment (Year)</a></td>
<td class="text">10 years<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_UsefulLivesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the useful lives or depreciation rates used for property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_UsefulLivesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_BuildingsAndImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_BuildingsAndImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_PlantAndProductionEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_PlantAndProductionEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ts_VehiclesFurnitureAndFixturesAndOtherEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>160
<FILENAME>R71.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790384016">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Current Allowances and Provisions (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock', window );">Disclosure of detailed information about current allowances and provisions deducted from assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for doubtful<br /> accounts - Trade receivables</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for other doubtful<br /> accounts - Other receivables</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for <br /> inventory obsolescence</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 49%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(66,535</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,784</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(209,796</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">88</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">794</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,788</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,761</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Additional / reversals allowances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,256</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,239</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(29,138</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,276</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">565</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,184</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(48,782</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,892</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(217,717</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for doubtful<br /> accounts - Trade receivables</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for other doubtful<br /> accounts - Other receivables</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Allowance for <br /> inventory obsolescence</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 49%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(78,385</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,255</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(216,068</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,423</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">329</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">359</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,575</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Additional allowances</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,751</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,179</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(25,457</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,849</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">291</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,154</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: justify; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(66,535</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,784</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(209,796</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock', window );">Disclosure of detailed information about current allowances and provisions from liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Sales risks</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other claims and<br /> contingencies</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,814</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,469</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,283</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(28</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(570</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(598</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">505</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,000</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,505</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Additional/ reversals provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,880</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,219</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,661</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,641</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,641</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(13,304</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,889</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(18,193</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,867</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,150</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,017</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Year ended December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Sales risks</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other claims and<br /> contingencies</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Values at the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,396</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,934</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">32,330</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(103</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,205</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,308</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Additional provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,638</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,463</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,101</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,406</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,406</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Used</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,117</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,129</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,246</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,814</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,469</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,283</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about current allowances and provisions deducted from assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsDeductedFromAssetsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about current allowances and provisions from liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutCurrentAllowancesAndProvisionsFromLiabilitiesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>161
<FILENAME>R89.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796254576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Segment Information - Reportable Operating Segments (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="nump">$ 7,294,055<span></span>
</td>
<td class="nump">$ 7,658,588<span></span>
</td>
<td class="nump">$ 5,288,504<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">IFRS - operating income</a></td>
<td class="nump">832,391<span></span>
</td>
<td class="nump">871,813<span></span>
</td>
<td class="nump">334,588<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financial income (expense), net</a></td>
<td class="nump">19,283<span></span>
</td>
<td class="nump">37,300<span></span>
</td>
<td class="num">(23,017)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax', window );">Income before equity in earnings of non-consolidated companies and income tax</a></td>
<td class="nump">851,674<span></span>
</td>
<td class="nump">909,113<span></span>
</td>
<td class="nump">311,571<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Equity in earnings of non-consolidated companies</a></td>
<td class="nump">82,036<span></span>
</td>
<td class="nump">193,994<span></span>
</td>
<td class="nump">116,140<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="nump">933,710<span></span>
</td>
<td class="nump">1,103,107<span></span>
</td>
<td class="nump">427,711<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="nump">350,174<span></span>
</td>
<td class="nump">349,473<span></span>
</td>
<td class="nump">558,236<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">539,521<span></span>
</td>
<td class="nump">664,357<span></span>
</td>
<td class="nump">608,640<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember', window );">Discontinued operations [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">11,899<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">145<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ts_TubesMember', window );">Tubes [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="nump">6,870,000<span></span>
</td>
<td class="nump">7,233,000<span></span>
</td>
<td class="nump">4,966,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewOperatingIncome', window );">Management view - operating income</a></td>
<td class="nump">857,000<span></span>
</td>
<td class="nump">702,000<span></span>
</td>
<td class="nump">115,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInCostOfSales', window );">Difference in cost of sales</a></td>
<td class="num">(105,000)<span></span>
</td>
<td class="nump">112,000<span></span>
</td>
<td class="nump">164,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInDepreciationAndAmortization', window );">Differences in depreciation and amortization</a></td>
<td class="num">(1,000)<span></span>
</td>
<td class="num">(34,000)<span></span>
</td>
<td class="num">(3,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses', window );">Differences in selling, general and administrative expenses</a></td>
<td class="num">(1,000)<span></span>
</td>
<td class="num">(2,000)<span></span>
</td>
<td class="nump">14,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet', window );">Differences in other operating income (expenses), net</a></td>
<td class="nump">6,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">IFRS - operating income</a></td>
<td class="nump">755,000<span></span>
</td>
<td class="nump">777,000<span></span>
</td>
<td class="nump">292,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financial income (expense), net</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax', window );">Income before equity in earnings of non-consolidated companies and income tax</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Equity in earnings of non-consolidated companies</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="nump">338,000<span></span>
</td>
<td class="nump">346,000<span></span>
</td>
<td class="nump">550,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">523,000<span></span>
</td>
<td class="nump">645,000<span></span>
</td>
<td class="nump">594,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">All other segments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="nump">424,000<span></span>
</td>
<td class="nump">426,000<span></span>
</td>
<td class="nump">323,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewOperatingIncome', window );">Management view - operating income</a></td>
<td class="nump">73,000<span></span>
</td>
<td class="nump">81,000<span></span>
</td>
<td class="nump">48,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInCostOfSales', window );">Difference in cost of sales</a></td>
<td class="nump">3,000<span></span>
</td>
<td class="nump">7,000<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInDepreciationAndAmortization', window );">Differences in depreciation and amortization</a></td>
<td class="nump">0<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses', window );">Differences in selling, general and administrative expenses</a></td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">6,000<span></span>
</td>
<td class="num">(6,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet', window );">Differences in other operating income (expenses), net</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">IFRS - operating income</a></td>
<td class="nump">77,000<span></span>
</td>
<td class="nump">95,000<span></span>
</td>
<td class="nump">43,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financial income (expense), net</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax', window );">Income before equity in earnings of non-consolidated companies and income tax</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Equity in earnings of non-consolidated companies</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="nump">12,000<span></span>
</td>
<td class="nump">3,000<span></span>
</td>
<td class="nump">8,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">17,000<span></span>
</td>
<td class="nump">19,000<span></span>
</td>
<td class="nump">15,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_ReportableSegmentsMember', window );">Reportable segments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="nump">7,294,000<span></span>
</td>
<td class="nump">7,659,000<span></span>
</td>
<td class="nump">5,289,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewOperatingIncome', window );">Management view - operating income</a></td>
<td class="nump">929,000<span></span>
</td>
<td class="nump">783,000<span></span>
</td>
<td class="nump">163,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInCostOfSales', window );">Difference in cost of sales</a></td>
<td class="num">(102,000)<span></span>
</td>
<td class="nump">119,000<span></span>
</td>
<td class="nump">165,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInDepreciationAndAmortization', window );">Differences in depreciation and amortization</a></td>
<td class="num">(1,000)<span></span>
</td>
<td class="num">(34,000)<span></span>
</td>
<td class="num">(3,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses', window );">Differences in selling, general and administrative expenses</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">8,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet', window );">Differences in other operating income (expenses), net</a></td>
<td class="nump">6,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">IFRS - operating income</a></td>
<td class="nump">832,000<span></span>
</td>
<td class="nump">872,000<span></span>
</td>
<td class="nump">335,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financial income (expense), net</a></td>
<td class="nump">19,000<span></span>
</td>
<td class="nump">37,000<span></span>
</td>
<td class="num">(23,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax', window );">Income before equity in earnings of non-consolidated companies and income tax</a></td>
<td class="nump">852,000<span></span>
</td>
<td class="nump">909,000<span></span>
</td>
<td class="nump">312,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Equity in earnings of non-consolidated companies</a></td>
<td class="nump">82,000<span></span>
</td>
<td class="nump">194,000<span></span>
</td>
<td class="nump">116,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="nump">934,000<span></span>
</td>
<td class="nump">1,103,000<span></span>
</td>
<td class="nump">428,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="nump">350,000<span></span>
</td>
<td class="nump">349,000<span></span>
</td>
<td class="nump">558,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">540,000<span></span>
</td>
<td class="nump">664,000<span></span>
</td>
<td class="nump">609,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_ReportableSegmentsMember', window );">Reportable segments [member] | Discontinued operations [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">IFRS - Net Sales</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewOperatingIncome', window );">Management view - operating income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">3,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInCostOfSales', window );">Difference in cost of sales</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInDepreciationAndAmortization', window );">Differences in depreciation and amortization</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses', window );">Differences in selling, general and administrative expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet', window );">Differences in other operating income (expenses), net</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">IFRS - operating income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financial income (expense), net</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax', window );">Income before equity in earnings of non-consolidated companies and income tax</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Equity in earnings of non-consolidated companies</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B13<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2019-01-01<br> -Paragraph IE33<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets. [Refer: Intangible assets other than goodwill; Investment property; Other non-current assets; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.
Effective 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_g&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2019-01-01<br> -Paragraph 39M<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2019-en-b&amp;anchor=para_39M_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The (loss) income before equity in earnings of non-consolidated companies and income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ManagementViewDifferencesInCostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Differences in cost of sales under management view.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ManagementViewDifferencesInCostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ManagementViewDifferencesInDepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Differences in depreciation and amortization under management view.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ManagementViewDifferencesInDepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Differences in net other operating income (expenses) under management view.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ManagementViewDifferencesInOtherOperatingIncomeExpensesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Differences in selling, general and administrative expenses under management view.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ManagementViewDifferencesInSellingGeneralAndAdiministrativeExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ManagementViewOperatingIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Operating income under management view.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ManagementViewOperatingIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ts_TubesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ts_TubesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ifrs-full_ReportableSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ifrs-full_ReportableSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>162
<FILENAME>R79.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790262640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 36 - Update as of April 29, 2020 (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember', window );">Acquisition of IPSCO [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory', window );">Disclosure of detailed information about business combination [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Fair value of acquired assets and liabilities:</td> <td style="font-weight: bold">&nbsp;</td> <td colspan="3" style="font-weight: bold; text-align: center">$ million</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 77%; text-align: left">Property, Plant and Equipment</td> <td style="width: 1%">&nbsp;</td> <td style="width: 1%; text-align: left">&nbsp;</td> <td style="width: 20%; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">506</div></td> <td style="width: 1%; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">170</div></td> <td style="text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Working capital</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">144</div></td> <td style="text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash and Cash Equivalents</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4</div></td> <td style="text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other assets</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46</div></td> <td style="text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td>Borrowings</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(53</div></td> <td style="text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Provisions</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27</div></td> <td style="text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other liabilities</td> <td>&nbsp;</td> <td style="text-align: left">&nbsp;</td> <td style="text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(77</div></td> <td style="text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Deferred tax liabilities</td> <td style="padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3</div></td> <td style="border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net assets acquired</td> <td style="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">710</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about business combinations. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Section Disclosures application of paragraphs 59 and 61<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;doctype=Appendix&amp;subtype=B&amp;dita_xref=IFRS03_gB64-B67_TI<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_AcquisitionOfIPSCOMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>163
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790285920">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Selling, General and Administrative Expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock', window );">Disclosure of detailed information about selling, general and administrative expenses [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: justify">Services and fees</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">153,773</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">128,090</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">132,301</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Labor cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">481,854</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">470,928</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">443,338</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Depreciation of property, plant and equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,524</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,968</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,979</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Amortization of intangible assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,967</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">206,672</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">188,550</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Depreciation of right-of-use assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,564</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Commissions, freight and other selling expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">441,442</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">491,555</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">339,759</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Provisions for contingencies</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,565</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,498</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,664</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Allowances for doubtful accounts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16,256</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,751</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,421</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110,876</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">71,110</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,826</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">Other</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">89,665</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">99,404</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">81,061</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,365,974</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,509,976</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,272,057</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,041</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,365,974</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,509,976</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,270,016</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about selling, general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutSellingGeneralAndAdministrativeExpensesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>164
<FILENAME>R145.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797608112">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 24 - Derivative Financial Instruments - Foreign Exchange Derivative Contracts and Hedge Accounting (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="nump">$ 18,115<span></span>
</td>
<td class="num">$ (2,753)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="num">(900)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember', window );">Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="nump">18,115<span></span>
</td>
<td class="num">(2,753)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="nump">2,591<span></span>
</td>
<td class="num">(916)<span></span>
</td>
<td class="num">$ (240)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember', window );">Foreign exchange contract, purchase currency MXN, sell currency USD [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="nump">18,999<span></span>
</td>
<td class="nump">888<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="nump">404<span></span>
</td>
<td class="num">(411)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember', window );">Foreign exchange contract, purchase currency USD, sell currency MXN [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="num">(576)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember', window );">Foreign exchange contract, purchase currency ARS, sell currency USD [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(6,542)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(895)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember', window );">Foreign exchange contract, purchase currency EUR, sell currency USD [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="nump">588<span></span>
</td>
<td class="nump">203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember', window );">Foreign exchange contract, purchase currency USD, sell currency EUR [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="nump">2,149<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember', window );">Foreign exchange contract, purchase currency USD, sell currency KWD [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="num">(234)<span></span>
</td>
<td class="num">(131)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember', window );">Foreign exchange contract, purchase currency JPY, sell currency USD [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="num">(190)<span></span>
</td>
<td class="nump">271<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember', window );">Foreign exchange contract, purchase currency USD, sell currency ARS [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="nump">103<span></span>
</td>
<td class="nump">522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="nump">38<span></span>
</td>
<td class="nump">390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember', window );">Foreign exchange contract, purchase currency USD, sell currency BRL [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="num">(200)<span></span>
</td>
<td class="nump">2,089<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember', window );">Foreign exchange contract, purchase currency USD, sell currency GPB [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="num">(345)<span></span>
</td>
<td class="num">(23)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractOtherMember', window );">Foreign exchange contract, Other [member] | Cash flow hedges [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DerivativeFinancialAssetsLiabilities', window );">Fair value of derivatives</a></td>
<td class="num">(30)<span></span>
</td>
<td class="num">(30)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges', window );">Hedge accounting reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfCashFlowHedgesContinuingHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the reserve of cash flow hedges in relation to continuing hedges. [Refer: Reserve of cash flow hedges]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 24B<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_24B_b_ii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfCashFlowHedgesContinuingHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DerivativeFinancialAssetsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets (liabilities) classified as derivative instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DerivativeFinancialAssetsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyMxnSellCurrencyUsdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyMxnMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyArsSellCurrencyUsdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyEurSellCurrencyUsdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyEurMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyKwdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyJpySellCurrencyUsdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyArsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyBrlMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractPurchaseCurrencyUsdSellCurrencyGpbMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractOtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ts_ForeignExchangeContractOtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>165
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790230048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Income Tax (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock', window );">Disclosure of detailed information about income tax expense (benefit) [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Current tax</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">299,692</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">343,104</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">184,016</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Deferred tax</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(97,240</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(113,897</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(100,432</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,452</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229,207</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">83,584</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">From discontinued operations</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(100,720</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,452</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229,207</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,136</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock', window );">Disclosure of difference between income before tax and the theoretical amount that would arise using tax rate in each country [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: justify">(all amounts in thousands of U.S. dollars)</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 55%; font-size: 10pt; text-align: left">Income before income tax</td> <td style="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">933,710</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,103,107</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">427,711</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax calculated at the tax rate in each country</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">186,752</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">207,422</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,456</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of currency translation on tax base</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53,296</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">77,552</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(922</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Changes in the tax rates</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(13</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,824</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(62,968</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Utilization of previously unrecognized tax losses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(547</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Tax revaluation, withholding tax and others</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(37,036</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(57,591</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,298</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">Tax charge</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">202,452</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">229,207</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,136</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about income tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutIncomeTaxExpenseBenefitTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about the differences between income before tax and the theoretical amount that would arise using the tax rate in each country.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDifferenceBetweenIncomeBeforeTaxAndTheTheoreticalAmountThatWouldAriseUsingTaxRateInEachCountryTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>166
<FILENAME>R141.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797474352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Current Allowances and Provisions - Deducted From Assets (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForDoubtfulAccountsTradeReceivablesMember', window );">Allowance for doubtful accounts - trade receivables [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Values at the beginning of the year</a></td>
<td class="num">$ (66,535)<span></span>
</td>
<td class="num">$ (78,385)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">329<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Increase due to business combinations</a></td>
<td class="num">(1,788)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances', window );">Additional / reversals allowances</a></td>
<td class="nump">16,256<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets', window );">Used</a></td>
<td class="nump">3,276<span></span>
</td>
<td class="nump">6,849<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions', window );">Effect of adoption of new standards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,423<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions', window );">Additional allowances</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,751)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Values at the end of the year</a></td>
<td class="num">(48,782)<span></span>
</td>
<td class="num">(66,535)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember', window );">Allowance for other doubtful accounts - other receivables [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Values at the beginning of the year</a></td>
<td class="num">(6,784)<span></span>
</td>
<td class="num">(6,255)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences</a></td>
<td class="nump">88<span></span>
</td>
<td class="nump">359<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Increase due to business combinations</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances', window );">Additional / reversals allowances</a></td>
<td class="nump">1,239<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets', window );">Used</a></td>
<td class="nump">565<span></span>
</td>
<td class="nump">291<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions', window );">Effect of adoption of new standards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions', window );">Additional allowances</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,179)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Values at the end of the year</a></td>
<td class="num">(4,892)<span></span>
</td>
<td class="num">(6,784)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForInventoryObsolescenceMember', window );">Allowance for inventory obsolescence [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Values at the beginning of the year</a></td>
<td class="num">(209,796)<span></span>
</td>
<td class="num">(216,068)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences</a></td>
<td class="nump">794<span></span>
</td>
<td class="nump">3,575<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Increase due to business combinations</a></td>
<td class="num">(10,761)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances', window );">Additional / reversals allowances</a></td>
<td class="num">(29,138)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets', window );">Used</a></td>
<td class="nump">31,184<span></span>
</td>
<td class="nump">28,154<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions', window );">Effect of adoption of new standards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions', window );">Additional allowances</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(25,457)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Values at the end of the year</a></td>
<td class="num">$ (217,717)<span></span>
</td>
<td class="num">$ (209,796)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in other provisions resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of an allowance account used to record impairments to financial assets due to credit losses. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_16&amp;doctype=Standard&amp;book=b<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from foreign currency exchange rate changes on provisions measured in a currency different from the entity's presentation currency. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in an allowance account for credit losses of financial assets resulting from the utilisation of the allowance. [Refer: Allowance account for credit losses of financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2021-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_16&amp;doctype=Standard&amp;book=b<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UtilisationAllowanceAccountForCreditLossesOfFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of increase (decrease) due to additional allowances, of other provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_IncreaseDecreaseAdditionalAllowancesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of increase (decrease) due to the effect of adoption of new accounting standards, of other provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_IncreaseDecreaseDueToEffectOfAdoptionOfNewAccountingStandardsOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) through reversals and (additional) allowances.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_IncreaseDecreaseThroughReversalsAndAdditionalAllowances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForDoubtfulAccountsTradeReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForDoubtfulAccountsTradeReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForOtherDoubtfulAccountsOtherReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForInventoryObsolescenceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ts_AllowanceForInventoryObsolescenceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>167
<FILENAME>R149.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6798005536">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 27 - Business Combinations (Details Textual)<br> &#1585;.&#1587; in Millions, $ in Millions</strong></div></th>
<th class="th" colspan="1">11 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jan. 21, 2019 </div>
<div>USD ($) </div>
<div>t</div>
</th>
<th class="th">
<div>Jan. 21, 2019 </div>
<div>SAR (&#1585;.&#1587;) </div>
<div>t</div>
</th>
<th class="th">
<div>Sep. 30, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember', window );">Saudi Steel Pipe Company [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">47.79%<span></span>
</td>
<td class="nump">47.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Cash transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 141.0<span></span>
</td>
<td class="nump">&#1585;.&#1587; 530<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ManufacturingCapacitySteelPipes', window );">Manufacturing capacity, steel pipes (Metric Ton) | t</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">360,000<span></span>
</td>
<td class="nump">360,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TotalAssetsAndLiabilitiesAcquired', window );">Total assets and liabilities acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 109.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate', window );">Goodwill recognised as of acquisition date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 32.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueOfAcquiree', window );">Revenue of acquiree since acquisition date</a></td>
<td class="nump">$ 170.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=ts_GarrettMember', window );">Garrett [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Total consideration transferred, acquisition-date fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10.4<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the business combination's acquisition date for goodwill. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph IE72<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueOfAcquiree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue of the acquiree since the acquisition date included in the consolidated statement of comprehensive income. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph q<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_q_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueOfAcquiree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ManufacturingCapacitySteelPipes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of steel pipe manufacturing capacity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ManufacturingCapacitySteelPipes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TotalAssetsAndLiabilitiesAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total amount of assets and liabilities acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TotalAssetsAndLiabilitiesAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_GarrettMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_GarrettMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>168
<FILENAME>R68.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790607104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 20 - Deferred Income Tax (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock', window );">Disclosure of deferred tax assets and liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fixed assets (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Intangible and Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">710,995</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,048</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46,532</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">782,575</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(347</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(351</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,621</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,209</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,830</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">423</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">423</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge / (credit)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(64,930</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,652</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59,902</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,680</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">651,339</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,396</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,062</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">788,797</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fixed assets (*)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Intangible and Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">744,926</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,934</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,585</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">835,445</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(876</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">92</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(784</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">288</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">288</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(33,055</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,886</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,468</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(52,409</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">710,995</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,048</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">46,532</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">782,575</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Provisions and<br /> allowances</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tax losses</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16,116</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,585</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(396,257</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,184</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(585,142</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">362</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">306</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">497</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">286</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,160</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,413</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,172</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,238</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,983</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,261</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,261</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge / (credit)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,739</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,712</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,100</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(92,209</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,560</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2019</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(19,653</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(93,404</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(382,832</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(181,606</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(677,495</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Provisions and<br /> allowances</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Inventories</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Tax losses</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(26,475</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(89,555</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(354,944</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(60,033</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(531,007</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">952</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(164</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">788</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,532</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,447</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,014</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,955</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Charged directly to other comprehensive income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,587</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,610</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement charge / (credit)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,852</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,523</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(42,327</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27,536</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(61,488</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">At December 31, 2018</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(16,116</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,585</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(396,257</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(86,184</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(585,142</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock', window );">Disclosure of recovery analysis of deferred tax assets and liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Deferred tax assets to be recovered after 12 months</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(538,274</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(452,330</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities to be settled after 12 months</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">766,852</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">739,670</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DeferredTaxTextBlock', window );">Deferred tax [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Deferred tax assets</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(225,680</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(181,606</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred tax liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">336,982</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">379,039</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">111,302</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">197,433</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">197,433</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">304,438</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of adoption of new standards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">823</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,100</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,171</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,847</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Charged directly to Other Comprehensive Income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(838</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,898</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income statement credit</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(97,240</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(113,897</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">111,302</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">197,433</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DeferredTaxTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of deferred tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DeferredTaxTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of deferred tax assets and liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDeferredTaxAssetsAndLiabilitiesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of recovery analysis of deferred tax assets and liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfRecoveryAnalysisOfDeferredTaxAssetsAndLiabilitiesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>169
<FILENAME>R98.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6812833104">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Financial Results - Financial Income (Cost) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromInterest', window );">Interest Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 48,061<span></span>
</td>
<td class="nump">$ 42,244<span></span>
</td>
<td class="nump">$ 51,525<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL', window );">Net result on changes in FV of financial assets at FVPL</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(64)<span></span>
</td>
<td class="num">(2,388)<span></span>
</td>
<td class="num">(3,920)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Finance income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">47,997<span></span>
</td>
<td class="nump">39,856<span></span>
</td>
<td class="nump">47,605<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(43,381)<span></span>
</td>
<td class="num">(36,942)<span></span>
</td>
<td class="num">(27,072)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NetForeignExchangeTransactionResults', window );">Net foreign exchange transactions results</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">27,868<span></span>
</td>
<td class="nump">28,845<span></span>
</td>
<td class="num">(48,955)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ForeignExchangeDerivativesContractsResults', window );">Foreign exchange derivatives contracts results</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(11,616)<span></span>
</td>
<td class="nump">6,576<span></span>
</td>
<td class="num">(8,996)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherForeignExchangeResults', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,585)<span></span>
</td>
<td class="num">(1,035)<span></span>
</td>
<td class="nump">14,392<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherFinancialIncomeCost', window );">Other financial results</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,667<span></span>
</td>
<td class="nump">34,386<span></span>
</td>
<td class="num">(43,559)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinanceIncomeCostContinuingOperations', window );">Net financial results</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,283<span></span>
</td>
<td class="nump">37,300<span></span>
</td>
<td class="num">(23,026)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_FinanceIncomeCostDiscontinuedOperations', window );">From discontinued operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Finance income (cost)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 19,283<span></span>
</td>
<td class="nump">$ 37,300<span></span>
</td>
<td class="num">$ (23,017)<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2019 and 2018 includes $7.6 and $3.6 million of interest related to instruments carried at FVPL, respectively.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">In 2019 mainly includes the result from the Argentine peso depreciation against the U.S. dollar on Peso denominated financial, trade, social and fiscal payables and receivables at Argentine subsidiaries with functional currency U.S. dollar.  In 2018 mainly includes the result from the Argentine peso depreciation against the U.S. dollar on Peso denominated financial, trade, social and fiscal payables and receivables at Argentine subsidiaries with functional currency U.S. dollar, together with the positive impact from Euro depreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. Dollar, largely offset by an increase in currency translation adjustment reserve from our Italian subsidiary.  In 2017 mainly includes the negative impact from Euro appreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. Dollar, largely offset by an increase in currency translation adjustment reserve from our Italian subsidiary.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">In 2019 includes mainly losses on derivatives covering net payables in Argentine peso and in Euros and net receivables in Canadian dollar.  In 2018 includes mainly gain on derivatives covering net receivables in Canadian dollar.  In 2017 includes mainly losses on derivatives covering net receivables in Brazilian real and Canadian dollar and net payables in Argentine peso, partially offset by gains on derivatives covering net payables in Euro.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B13<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B13_e&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_FinanceIncomeCostContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity attributable to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_FinanceIncomeCostContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_FinanceIncomeCostDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity attributable to discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_FinanceIncomeCostDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ForeignExchangeDerivativesContractsResults">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with foreign exchange derivatives contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ForeignExchangeDerivativesContractsResults</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the net financial income on changes in fair value of financial assets at fair value through profit os loss.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NetFinancialIncomeOnChangesInFVOfFinancialAssetsAtFVTPL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NetForeignExchangeTransactionResults">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or cost associated with foreign exchange transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NetForeignExchangeTransactionResults</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherFinancialIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other income (cost) associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherFinancialIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherForeignExchangeResults">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with foreign exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherForeignExchangeResults</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>170
<FILENAME>R60.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803979504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Investments in Non-consolidated Companies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock', window );">Disclosure of detailed information about investments in non-consolidated companies [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">805,568</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">640,294</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,781</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,848</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Equity in earnings of non-consolidated companies</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82,036</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">193,994</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,635</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Dividends and distributions received (*)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(28,037</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(26,581</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,610</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Decrease / increase in equity reserves and others</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,066</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,987</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">879,965</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">805,568</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock', window );">Disclosure of detailed information about principal non-consolidated companies [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% ownership at December 31,</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Value at December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Company</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Country of incorporation</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 20%; font-size: 10pt; text-align: left">a) Ternium (*)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 25%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Luxembourg</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11.46</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11.46</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">751,105</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">725,548</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">b) Usiminas (**)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Brazil</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.07</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.07</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">74,593</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">72,988</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,267</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,032</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">879,965</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">805,568</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock', window );">Disclosure of detailed information about selected financial information [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Ternium</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Non-current assets</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,757,320</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,121,824</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current assets</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,178,213</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,426,038</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,935,533</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,547,862</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,452,535</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,236,756</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,768,125</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,826,530</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,220,660</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,063,286</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-controlling interests</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,103,208</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,091,321</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Revenues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,192,818</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,454,807</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gross profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,740,378</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,971,479</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Net income for the year attributable to owners of the parent</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">564,269</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,506,647</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total comprehensive income for the year, net of tax, attributable to owners of the parent</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">445,473</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,176,964</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Usiminas</td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Non-current assets</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,335,662</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,696,896</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current assets</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,198,449</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,148,322</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,534,111</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,845,218</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,955,395</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,933,207</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">716,930</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">860,862</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,672,325</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,794,069</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-controlling interests</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">377,667</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">369,333</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Revenues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,790,206</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,766,241</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gross profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">478,141</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">612,156</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Net income for the year attributable to owners of the parent</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,779</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194,381</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about investments in non-consolidated companies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutInvestmentsInNonconsolidatedCompaniesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about principal non-consolidated companies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutPrincipalNonconsolidatedCompaniesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about selected financial information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutSelectedFinancialInformationTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>171
<FILENAME>R90.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796121216">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Segment Information - Geographical Information (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 7,294,055<span></span>
</td>
<td class="nump">$ 7,658,588<span></span>
</td>
<td class="nump">$ 5,288,504<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,842,991<span></span>
</td>
<td class="nump">14,251,299<span></span>
</td>
<td class="nump">14,398,218<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,348,160<span></span>
</td>
<td class="nump">1,737,366<span></span>
</td>
<td class="nump">1,214,060<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,090,017<span></span>
</td>
<td class="nump">6,063,908<span></span>
</td>
<td class="nump">6,229,143<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">350,174<span></span>
</td>
<td class="nump">349,473<span></span>
</td>
<td class="nump">558,236<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">539,521<span></span>
</td>
<td class="nump">664,357<span></span>
</td>
<td class="nump">608,640<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember', window );">Discontinued operations [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">11,899<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">145<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ts_ContinuingOperations1Member', window );">Continuing operations 1 [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">558,091<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_NorthAmerica1Member', window );">North America [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,429,911<span></span>
</td>
<td class="nump">3,611,509<span></span>
</td>
<td class="nump">2,451,357<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,885,120<span></span>
</td>
<td class="nump">7,971,311<span></span>
</td>
<td class="nump">7,925,520<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">612,809<span></span>
</td>
<td class="nump">791,190<span></span>
</td>
<td class="nump">582,204<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,771,570<span></span>
</td>
<td class="nump">3,859,060<span></span>
</td>
<td class="nump">3,914,229<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">169,390<span></span>
</td>
<td class="nump">196,220<span></span>
</td>
<td class="nump">430,142<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">276,046<span></span>
</td>
<td class="nump">441,705<span></span>
</td>
<td class="nump">354,091<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_SouthAmerica1Member', window );">South America [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,391,288<span></span>
</td>
<td class="nump">1,462,044<span></span>
</td>
<td class="nump">1,142,142<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,227,044<span></span>
</td>
<td class="nump">2,489,522<span></span>
</td>
<td class="nump">2,975,599<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">176,173<span></span>
</td>
<td class="nump">280,801<span></span>
</td>
<td class="nump">234,877<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,129,260<span></span>
</td>
<td class="nump">1,133,113<span></span>
</td>
<td class="nump">1,190,145<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">113,999<span></span>
</td>
<td class="nump">68,603<span></span>
</td>
<td class="nump">58,949<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">105,308<span></span>
</td>
<td class="nump">108,558<span></span>
</td>
<td class="nump">126,273<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_Europe1Member', window );">Europe [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">738,880<span></span>
</td>
<td class="nump">724,733<span></span>
</td>
<td class="nump">545,777<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,282,775<span></span>
</td>
<td class="nump">1,913,589<span></span>
</td>
<td class="nump">2,002,658<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">149,321<span></span>
</td>
<td class="nump">215,202<span></span>
</td>
<td class="nump">214,944<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">816,721<span></span>
</td>
<td class="nump">848,178<span></span>
</td>
<td class="nump">878,788<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">55,169<span></span>
</td>
<td class="nump">77,467<span></span>
</td>
<td class="nump">57,285<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">82,400<span></span>
</td>
<td class="nump">82,769<span></span>
</td>
<td class="nump">93,900<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_MiddleEastAndAfricaMember', window );">Middle East and Africa [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,382,172<span></span>
</td>
<td class="nump">1,559,988<span></span>
</td>
<td class="nump">937,439<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">958,424<span></span>
</td>
<td class="nump">588,746<span></span>
</td>
<td class="nump">391,029<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">319,406<span></span>
</td>
<td class="nump">383,358<span></span>
</td>
<td class="nump">135,524<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">254,858<span></span>
</td>
<td class="nump">94,040<span></span>
</td>
<td class="nump">102,481<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,578<span></span>
</td>
<td class="nump">2,047<span></span>
</td>
<td class="nump">7,562<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">42,520<span></span>
</td>
<td class="nump">10,389<span></span>
</td>
<td class="nump">12,094<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_AsiaPacific1Member', window );">Asia Pacific [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">351,804<span></span>
</td>
<td class="nump">300,314<span></span>
</td>
<td class="nump">211,789<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">609,663<span></span>
</td>
<td class="nump">482,563<span></span>
</td>
<td class="nump">441,546<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">90,451<span></span>
</td>
<td class="nump">66,815<span></span>
</td>
<td class="nump">46,511<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">117,608<span></span>
</td>
<td class="nump">129,517<span></span>
</td>
<td class="nump">143,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,038<span></span>
</td>
<td class="nump">5,136<span></span>
</td>
<td class="nump">4,153<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">33,247<span></span>
</td>
<td class="nump">20,936<span></span>
</td>
<td class="nump">22,282<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ts_UnallocatedRegionMember', window );">Unallocated region [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">879,965<span></span>
</td>
<td class="nump">805,568<span></span>
</td>
<td class="nump">661,866<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Capital expenditures</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">For 2019 and 2018 includes Investments in non-consolidated companies, for 2017 includes Investments in non-consolidated companies and Other equity investments for $21.6 million. See Note 12 and 33.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.
Effective 2020-01-01: The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2019-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B13<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2019-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets. [Refer: Intangible assets other than goodwill; Investment property; Other non-current assets; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.
Effective 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2019-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ts_ContinuingOperations1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ts_ContinuingOperations1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_NorthAmerica1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_NorthAmerica1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_SouthAmerica1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_SouthAmerica1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_Europe1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_Europe1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_MiddleEastAndAfricaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_MiddleEastAndAfricaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_AsiaPacific1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_AsiaPacific1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ts_UnallocatedRegionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ts_UnallocatedRegionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>172
<FILENAME>R94.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6794642400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Labor Costs - Summary of Labor Costs (Included in Cost of Sales and in Selling, General and Administrative Expenses) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermEmployeeBenefitsExpense', window );">Wages, salaries and social security costs</a></td>
<td class="nump">$ 1,274,474<span></span>
</td>
<td class="nump">$ 1,250,783<span></span>
</td>
<td class="nump">$ 1,144,341<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TerminationBenefitsExpense', window );">Severance indemnities</a></td>
<td class="nump">24,637<span></span>
</td>
<td class="nump">25,225<span></span>
</td>
<td class="nump">34,497<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans', window );">Defined contribution plans</a></td>
<td class="nump">12,663<span></span>
</td>
<td class="nump">13,217<span></span>
</td>
<td class="nump">12,401<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Pension benefits - defined benefit plans</a></td>
<td class="nump">18,207<span></span>
</td>
<td class="nump">15,390<span></span>
</td>
<td class="nump">15,066<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLongtermBenefits', window );">Employee retention and long term incentive program</a></td>
<td class="nump">22,134<span></span>
</td>
<td class="nump">21,353<span></span>
</td>
<td class="nump">15,441<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations', window );">Employee benefits expense including discontinued operations</a></td>
<td class="nump">1,352,115<span></span>
</td>
<td class="nump">1,325,968<span></span>
</td>
<td class="nump">1,221,746<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EmployeeBenefitsExpenseDiscontinuedOperations', window );">From discontinued operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(853)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );">Total employee benefits expense</a></td>
<td class="nump">$ 1,352,115<span></span>
</td>
<td class="nump">$ 1,325,968<span></span>
</td>
<td class="nump">$ 1,220,893<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EmployeeBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense of all forms of consideration given by an entity in exchange for a service rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EmployeeBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherLongtermBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of long-term employee benefits other than post-employment benefits and termination benefits. Such benefits may include long-term paid absences, jubilee or other long-service benefits, long-term disability benefits, long-term profit-sharing and bonuses and long-term deferred remuneration. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 158<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_158&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherLongtermBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of post-employment benefit expense relating to defined benefit plans. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 5<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_5&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of post-employment benefit expense relating to defined contribution plans. Defined contribution plans are post-employment benefit plans under which an entity pays fixed contributions into a separate entity (a fund) and will have no legal or constructive obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 53<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_53&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermEmployeeBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense from employee benefits (other than termination benefits) that are expected to be settled wholly within twelve months after the end of the annual reporting period in which the employees render the related services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermEmployeeBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TerminationBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense in relation to termination benefits. Termination benefits are employee benefits provided in exchange for the termination of an employee's employment as a result of either: (a) an entity's decision to terminate an employee's employment before the normal retirement date; or (b) an employee's decision to accept an offer of benefits in exchange for the termination of employment. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 171<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_171&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TerminationBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EmployeeBenefitsExpenseDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of employee benefits expense attributable to discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EmployeeBenefitsExpenseDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense of all forms of consideration given by an entity in exchange for a service rendered by employees or for the termination of employment. Includes discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EmployeeBenefitsExpenseIncludingDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>173
<FILENAME>R64.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804060752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 16 - Current Tax Assets and Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock', window );">Disclosure of detailed information about current tax assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Current tax assets</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">V.A.T. credits</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112,161</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">67,322</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Prepaid taxes</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,227</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,010</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">167,388</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">121,332</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock', window );">Disclosure of detailed information about tax liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Current tax liabilities</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Income tax liabilities</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">64,994</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">182,711</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">V.A.T. liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,953</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,091</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other taxes</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,678</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,431</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">127,625</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">250,233</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about current tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutCurrentTaxAssetsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about current tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfDetailedInformationAboutTaxLiabilitiesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>174
<FILENAME>R158.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790496752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 31 - Fees Paid to the Company's Principal Accountant - Fees Accrued for Professional Services (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AuditorsRemunerationForAuditServices', window );">Audit fees</a></td>
<td class="nump">$ 3,846<span></span>
</td>
<td class="nump">$ 3,841<span></span>
</td>
<td class="nump">$ 3,995<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_AuditorsRemunerationForAuditrelatedFees', window );">Audit-related fees</a></td>
<td class="nump">50<span></span>
</td>
<td class="nump">43<span></span>
</td>
<td class="nump">88<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AuditorsRemunerationForTaxServices', window );">Tax fees</a></td>
<td class="nump">7<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">23<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AuditorsRemunerationForOtherServices', window );">All other fees</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">30<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AuditorsRemuneration', window );">Total</a></td>
<td class="nump">$ 3,904<span></span>
</td>
<td class="nump">$ 3,891<span></span>
</td>
<td class="nump">$ 4,136<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AuditorsRemuneration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AuditorsRemuneration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AuditorsRemunerationForAuditServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors for auditing services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AuditorsRemunerationForAuditServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AuditorsRemunerationForOtherServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors for services that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AuditorsRemunerationForOtherServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AuditorsRemunerationForTaxServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors for tax services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AuditorsRemunerationForTaxServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_AuditorsRemunerationForAuditrelatedFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors for other audit-related fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_AuditorsRemunerationForAuditrelatedFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>175
<FILENAME>R150.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6800624096">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 27 - Business Combinations - Assets and Liabilities Assumed (Details) - Jan. 21, 2019 - Saudi Steel Pipe Company [member]<br> &#1585;.&#1587; in Millions, $ in Millions</strong></div></th>
<th class="th"><div>USD ($)</div></th>
<th class="th"><div>SAR (&#1585;.&#1587;)</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate', window );">Property, Plant and Equipment</a></td>
<td class="nump">$ 179<span></span>
</td>
<td class="nump">&#1585;.&#1587; 671<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Customer relationship</a></td>
<td class="nump">81<span></span>
</td>
<td class="nump">305<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_InvestmentsRecognisedAsOfAcquisitionDate', window );">Investment in associated</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">77<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_WorkingCapitalRecognisedAsOfAcquisitionDate', window );">Working capital</a></td>
<td class="nump">45<span></span>
</td>
<td class="nump">167<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate', window );">Cash and Cash Equivalents</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">32<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherReceivablesRecognisedAsOfAcquisitionDate', window );">Other Receivables</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate', window );">Borrowings</a></td>
<td class="num">(81)<span></span>
</td>
<td class="num">(304)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate', window );">Employees end of service benefits</a></td>
<td class="num">(16)<span></span>
</td>
<td class="num">(59)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate', window );">Deferred tax liabilities</a></td>
<td class="num">(13)<span></span>
</td>
<td class="num">(47)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed', window );">Net assets acquired</a></td>
<td class="nump">$ 228<span></span>
</td>
<td class="nump">&#1585;.&#1587; 853<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for borrowings assumed in a business combination. [Refer: Borrowings; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for cash and cash equivalents acquired in a business combination. [Refer: Cash and cash equivalents; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for customer-related intangible assets acquired in a business combination. [Refer: Customer-related intangible assets [member]; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph IE72<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for plant, property and equipment acquired in a business combination. [Refer: Property, plant and equipment; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2019-01-01<br> -Paragraph IE72<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of employee service benefits recognised as of acquisition date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_EmployeeServiceBenefitsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_InvestmentsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments recognised as of acquisition date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_InvestmentsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherReceivablesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other receivables recognised as of acquisition date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherReceivablesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_WorkingCapitalRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of working capital recognised as of acquisition date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_WorkingCapitalRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=ts_SaudiSteelPipeCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>176
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6775437424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfSignificantAccountingPoliciesAbstract', window );"><strong>Discloure of Significant Accounting Policies</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock', window );">Description of accounting policy for basis of presentation [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basis of presentation</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial Reporting Standards (&#x201c;IFRS&#x201d;), as issued by the International Accounting Standards Board (&#x201c;IASB&#x201d;) and in accordance with IFRS as adopted by the European Union, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities (including derivative instruments) and plan assets at fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of U.S. dollars (&#x201c;$&#x201d;).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Whenever necessary, certain comparative amounts have been reclassified to conform to changes in presentation in the current year.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Following the sale of the steel electric conduit business in North America, known as Republic Conduit, in <div style="display: inline; font-style: italic; font: inherit;"> January 2017, </div>the results of the mentioned business are presented as discontinued operations in accordance with IFRS <div style="display: inline; font-style: italic; font: inherit;">5,</div> "Non-current Assets Held for Sale and Discontinued Operations". Consequently, all comparative amounts related to discontinued operations within each line item of the Consolidated Income Statement are reclassified into discontinued operations. The Consolidated Statement of Cash Flows includes the cash flows for continuing and discontinued operations. Cash flows from discontinued operations and earnings per share are disclosed separately in Note <div style="display: inline; font-style: italic; font: inherit;">29,</div> as well as additional information detailing net assets of disposal group classified as held for sale and discontinued operations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make certain accounting estimates and assumptions that might affect among others, the reported amounts of assets, liabilities, contingent assets and liabilities, revenues and expenses. Actual results <div style="display: inline; font-style: italic; font: inherit;"> may </div>differ from these estimates. The main areas involving significant estimates or judgements are: Impairment of goodwill and long-lived assets (note II.G); Income Taxes (note II.N); Loss contingencies (note II.P); Defined benefit obligations (note II.O), Business Combinations (notes II.B, <div style="display: inline; font-style: italic; font: inherit;">III.27</div>); Useful lives of property, plant and equipment and other long-lived assets (notes II.E, II.F, II.G).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Accounting pronouncements applicable as from <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019 </div>and relevant for Tenaris</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">IFRS <div style="display: inline; font-style: italic; font: inherit;">16,</div> &#x201c;Leases&#x201d;</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has adopted IFRS <div style="display: inline; font-style: italic; font: inherit;">16</div> &#x201c;Leases&#x201d; from <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019. </div>In accordance with the transition provisions in IFRS <div style="display: inline; font-style: italic; font: inherit;">16,</div> Tenaris has adopted the new rules using the modified retrospective approach, meaning that reclassifications of the adoption was recognized in the opening balance sheet as of <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019 </div>and that comparatives were <div style="display: inline; font-style: italic; font: inherit;">not</div> restated.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Upon adoption of IFRS <div style="display: inline; font-style: italic; font: inherit;">16,</div> Tenaris recognized lease liabilities in relation to leases which had previously been classified as &#x201c;operating leases&#x201d; under the principles of IAS <div style="display: inline; font-style: italic; font: inherit;">17</div> &#x201c;Leases&#x201d;. These liabilities were measured at the present value of the remaining lease payments, discounted using the lessee&#x2019;s incremental borrowing rate as of <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019. </div>The associated right-of-use assets were measured at the amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments relating to that lease recognized in the balance sheet as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2018. </div>The difference between the amount of the lease liability recognized in the statement of financial position at the date of initial application and the operating lease commitments under IAS <div style="display: inline; font-style: italic; font: inherit;">17</div> is related to leases with a duration lower than <div style="display: inline; font-style: italic; font: inherit;">12</div> months, low value leases and/or leases with clauses related to variable payments.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div><div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the lease term on a straight-line basis.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Lease liabilities include the net present value of i) fixed payments, less any lease incentives receivable, ii) variable lease payments that are based on an index or a rate, iii) amounts expected to be payable by the lessee under residual value guarantees, iv) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and v) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee&#x2019;s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Right-of-use assets are measured at cost comprising the amount of the initial measurement of lease liability, any lease payments made at or before the commencement date less any lease incentives received and any initial direct costs incurred by the lessee.</div> <div style=" margin: 0pt 0 0pt 28.05pt; font-size: 10pt; text-align: justify; text-indent: -28.05pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expenses in profit or loss. Short-term leases are leases with a lease term of <div style="display: inline; font-style: italic; font: inherit;">12</div> months or less. Low-value comprise mainly IT equipment and small items of office furniture.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or <div style="display: inline; font-style: italic; font: inherit;">not</div> exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or <div style="display: inline; font-style: italic; font: inherit;">not</div> terminated).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">IFRIC <div style="display: inline; font-style: italic; font: inherit;">23,</div> "Uncertainty over Income Tax Treatments"</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris has adopted IFRIC <div style="display: inline; font-style: italic; font: inherit;">23</div> &#x201c;Uncertainty over Income Tax Treatments&#x201d; from <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2019. </div>This interpretation clarifies how the recognition and measurement requirements of IAS <div style="display: inline; font-style: italic; font: inherit;">12</div> &#x201c;Income taxes&#x201d; are applied where there is uncertainty over income tax treatments.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other accounting pronouncements that became effective during <div style="display: inline; font-style: italic; font: inherit;">2019</div> have <div style="display: inline; font-style: italic; font: inherit;">no</div> material effect on the Company&#x2019;s financial condition or results of operations.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory', window );">Description of accounting policy for investment in associates and joint ventures [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">B&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group accounting</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Subsidiaries and transactions with non-controlling interests</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Subsidiaries are all entities over which Tenaris has control. Tenaris controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is exercised by the Company and are <div style="display: inline; font-style: italic; font: inherit;">no</div> longer consolidated from the date control ceases.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The acquisition method of accounting is used to account for the acquisition of subsidiaries by Tenaris. The cost of an acquisition is measured as the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed at the date of exchange. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at the non-controlling interest&#x2019;s proportionate share of the acquiree&#x2019;s net assets. The excess of the aggregate of the consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 112 --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Contingent consideration is classified either as equity or as a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If the business combination is achieved in stages, the acquisition date carrying value of the acquirer&#x2019;s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Transactions with non-controlling interests that do <div style="display: inline; font-style: italic; font: inherit;">not</div> result in a loss of control are accounted as transactions with equity owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When the Company ceases to have control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This <div style="display: inline; font-style: italic; font: inherit;"> may </div>mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Material intercompany transactions, balances and unrealized gains (losses) on transactions between Tenaris subsidiaries have been eliminated in consolidation. However, since the functional currency of some subsidiaries is its respective local currency, some financial gains (losses) arising from intercompany transactions are generated. These are included in the Consolidated Income Statement under <div style="display: inline; font-style: italic;">Other financial results</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Non-consolidated companies</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-consolidated companies are all entities in which Tenaris has significant influence but <div style="display: inline; font-style: italic; font: inherit;">not</div> control, generally accompanying a shareholding of between <div style="display: inline; font-style: italic; font: inherit;">20%</div> and <div style="display: inline; font-style: italic; font: inherit;">50%</div> of the voting rights. Investments in non-consolidated companies (associated and joint ventures) are accounted for by the equity method of accounting and are initially recognized at cost. The Company&#x2019;s investment in non-consolidated companies includes goodwill identified in acquisition, net of any accumulated impairment loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Under the equity method of accounting, the investments are initially recognized at cost and adjusted thereafter to recognize Tenaris&#x2019;s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris&#x2019;s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated to the extent of Tenaris&#x2019;s interest in the non-consolidated companies. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment indicator of the asset transferred. Financial statements of non-consolidated companies have been adjusted where necessary to ensure consistency with IFRS.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">The Company&#x2019;s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income Statement under </div>Equity in earnings (losses) of non-consolidated companies<div style="display: inline; font-style: normal">. The Company&#x2019;s pro-rata share of changes in other comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 113 --> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">Ternium</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>Tenaris holds <div style="display: inline; font-style: italic; font: inherit;">11.46%</div> of Ternium S.A (&#x201c;Ternium&#x201d;)&#x2019;s common stock. The following factors and circumstances evidence that Tenaris has significant influence (as defined by IAS <div style="display: inline; font-style: italic; font: inherit;">28,</div> &#x201c;Investments in associates companies and Joint Ventures&#x201d;) over Ternium, and as a result the Company&#x2019;s investment in Ternium has been accounted for under the equity method:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Both the Company and Ternium are under the indirect common control of San Faustin S.A.;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Four out of <div style="display: inline; font-style: italic; font: inherit;">eight</div> members of Ternium&#x2019;s Board of Directors (including Ternium&#x2019;s Chairman) are also members of the Company&#x2019;s Board of Directors;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Under the shareholders&#x2019; agreement by and between the Company and Techint Holdings S.&agrave; r.l, a wholly owned subsidiary of San Faustin S.A. and Ternium&#x2019;s main shareholder, dated <div style="display: inline; font-style: italic; font: inherit;"> January 9, 2006, </div>Techint Holdings S.&agrave;.r.l, is required to take actions within its power to cause (a) <div style="display: inline; font-style: italic; font: inherit;">one</div> of the members of Ternium&#x2019;s Board of Directors to be nominated by the Company and (b) any director nominated by the Company to be only removed from Ternium&#x2019;s Board of Directors pursuant to previous written instructions of the Company.</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Usiminas</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>Tenaris holds through its Brazilian subsidiary Confab Industrial S.A. (&#x201c;Confab&#x201d;), <div style="display: inline; font-style: italic; font: inherit;">5.2%</div> of the shares with voting rights and <div style="display: inline; font-style: italic; font: inherit;">3.07%</div> of Usinas Sider&uacute;rgicas de Minas Gerais S.A. (&#x201c;Usiminas&#x201d;) total share capital.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The acquisition of Usiminas shares was part of a larger transaction performed <div style="display: inline; color: black">on <div style="display: inline; font-style: italic; font: inherit;"> January 16, 2012,</div></div> pursuant to which Ternium, certain of its subsidiaries and Confab joined Usiminas&#x2019; existing control group through the acquisition of ordinary shares representing <div style="display: inline; font-style: italic; font: inherit;">27.7%</div> of Usiminas&#x2019; total voting capital and <div style="display: inline; font-style: italic; font: inherit;">13.8%</div> of Usiminas&#x2019; total share capital. <div style="display: inline; color: black">A shareholders&#x2019; agreement governed the rights and obligations of the several control group members.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;"> April </div>and <div style="display: inline; font-style: italic; font: inherit;"> May 2016 </div>Tenaris&#x2019;s subsidiary Confab subscribed, in the aggregate, to <div style="display: inline; font-style: italic; font: inherit;">1.3</div> million preferred shares (<div style="display: inline; font-style: italic; font: inherit;">BRL1.28</div> per share) for a total amount of <div style="display: inline; font-style: italic; font: inherit;">BRL1.6</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$0.5</div> million) and <div style="display: inline; font-style: italic; font: inherit;">11.5</div> million ordinary shares (<div style="display: inline; font-style: italic; font: inherit;">BRL5.00</div> per share) for a total amount of <div style="display: inline; font-style: italic; font: inherit;">BRL57.5</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$16.6</div> million). The preferred and ordinary shares were issued on <div style="display: inline; font-style: italic; font: inherit;"> June 3, 2016 </div>and <div style="display: inline; font-style: italic; font: inherit;"> July 19, 2016, </div>respectively. Consequently as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>Tenaris owns <div style="display: inline; font-style: italic; font: inherit;">36.5</div> million ordinary shares and <div style="display: inline; font-style: italic; font: inherit;">1.3</div> million preferred shares of Usiminas.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;">2014,</div> a conflict arose between the T/T Group (comprising Confab and Ternium&#x2019;s subsidiaries Ternium Investments, Ternium Argentina and Prosid Investments) and Nippon Steel &amp; Sumitomo Metal Corporation (&#x201c;NSSMC&#x201d;) with respect to the governance of Usiminas.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> February 8, 2018, </div>Ternium Investments resolved the dispute with NSSMC, and on <div style="display: inline; font-style: italic; font: inherit;"> April 10, 2018, </div>the T/T Group entities (including Confab), NSSMC and Previd&ecirc;ncia Usiminas entered into a new shareholders&#x2019; agreement for Usiminas, amending and restating the previously existing shareholders agreement (the &#x201c;New SHA&#x201d;). Usiminas&#x2019; control group now holds, in the aggregate, <div style="display: inline; font-style: italic; font: inherit;">483.6</div> million ordinary shares bound to the New SHA, representing approximately <div style="display: inline; font-style: italic; font: inherit;">68.6%</div> of Usiminas&#x2019; voting capital, with the T/T Group holding approximately <div style="display: inline; font-style: italic; font: inherit;">47.1%</div> of the total shares held by the control group (<div style="display: inline; font-style: italic; font: inherit;">39.5%</div> corresponding to the Ternium entities and the other <div style="display: inline; font-style: italic; font: inherit;">7.6%</div> corresponding to Confab); NSSMC holding approximately <div style="display: inline; font-style: italic; font: inherit;">45.9%</div> of the total shares held by the control group; and Previd&ecirc;ncia Usiminas holding the remaining <div style="display: inline; font-style: italic; font: inherit;">7%</div> of the total shares held by the control group.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The New SHA reflects the agreed-upon corporate governance rules for Usiminas, including, among others, an alternation mechanism for the nomination of each of the chief executive officer and the Chairman of the board of directors, as well as a mechanism for the nomination of other members of Usiminas&#x2019; executive board. The New SHA also incorporates an exit mechanism consisting of a buy-and-sell procedure, exercisable at any time during the term of the New SHA after the <div style="display: inline; font-style: italic; font: inherit;">fourth</div>-and-a-half-year anniversary from the <div style="display: inline; font-style: italic; font: inherit;"> May 2018 </div>election of Usiminas&#x2019; executive board. Such exit mechanism shall apply with respect to shares held by NSSMC and the T/T Group, and would allow either Ternium or NSSMC to purchase all or a majority of the Usiminas shares held by the other shareholder.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 114 --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In connection with the execution of the New SHA, Confab and the Ternium entities amended and restated their separate shareholders&#x2019; agreement governing their respective rights and obligations as members of the T/T Group to include provisions relating to the exit mechanism and generally to conform such separate shareholders&#x2019; agreement to the other provisions of the New SHA. The rights of Confab and Ternium and its subsidiaries within the Ternium - Tenaris Group are governed under such amended and restated separate shareholders agreement. Those circumstances evidence that Tenaris has significant influence over Usiminas, and consequently, accounted it for under the equity method (as defined by IAS <div style="display: inline; font-style: italic; font: inherit;">28</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Techgen</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Techgen S.A. de C.V. (&#x201c;Techgen&#x201d;) is a Mexican joint venture company owned <div style="display: inline; font-style: italic; font: inherit;">48%</div> by Ternium, <div style="display: inline; font-style: italic; font: inherit;">30%</div> by Tecpetrol International S.A. and <div style="display: inline; font-style: italic; font: inherit;">22%</div> by Tenaris. Techgen operates a natural gas-fired combined electric power plant in the Pesquer&iacute;a area of the State of Nuevo Leon, M&eacute;xico. Tenaris, Ternium and Tecpetrol International S.A. are parties to a shareholders&#x2019; agreement relating to the governance of Techgen. In addition, the Company, Ternium and Tecpetrol International S.A. are under the indirect common control of San Faustin S.A., consequently Tenaris accounted it&#x2019;s interest under the equity method (as defined by IAS <div style="display: inline; font-style: italic; font: inherit;">28</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris carries its investment in Ternium, Usiminas and Techgen under the equity method, with <div style="display: inline; font-style: italic; font: inherit;">no</div> additional goodwill or intangible assets recognized. Tenaris reviews investments in non-consolidated companies for impairment whenever events or changes in circumstances indicate that the asset&#x2019;s carrying amount <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable. At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div><div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017,</div> <div style="display: inline; font-style: italic; font: inherit;">no</div> impairment provisions were recorded in any of the aforementioned investments. See Note <div style="display: inline; font-style: italic; font: inherit;">12.</div></div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory', window );">Description of accounting policy for segment reporting [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">C&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment information</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-indent: 0.5in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company is organized in <div style="display: inline; font-style: italic; font: inherit;">one</div> major business segment, Tubes, which is also the reportable operating segment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Tubes segment includes the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. Business activities included in this segment are mainly dependent on the oil and gas industry worldwide, as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling activities. Demand for steel pipe products from the oil and gas industry has historically been volatile and depends primarily upon the number of oil and natural gas wells being drilled, completed and reworked, and the depth and drilling conditions of these wells. Sales are generally made to end users, with exports being done through a centrally managed global distribution network and domestic sales are made through local subsidiaries. Corporate general and administrative expenses have been allocated to the Tubes segment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Others includes all other business activities and operating segments that are <div style="display: inline; font-style: italic; font: inherit;">not</div> required to be separately reported, including the production and selling of sucker rods, industrial equipment, coiled tubing, utility conduits for buildings, heat exchangers, energy and raw materials that exceed internal requirements.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#x2019;s Chief Operating Decision Maker (CEO) holds monthly meetings with senior management, in which operating and financial performance information is reviewed, including financial information that differs from IFRS principally as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">The use of direct cost methodology to calculate the inventories, while under IFRS it is at full cost, including absorption of production overheads and depreciations;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">The use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated at historical cost;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Other timing differences, if any.</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris presents its geographical information in <div style="display: inline; font-style: italic; font: inherit;">five</div> areas: North America, South America, Europe, Middle East and Africa and Asia Pacific. For purposes of reporting geographical information, net sales are allocated to geographical areas based on the customer&#x2019;s location; allocation of assets, capital expenditures and associated depreciations and amortizations are based on the geographical location of the assets.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory', window );">Description of accounting policy for foreign currency translation [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: left">D&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Functional and presentation currency</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div><div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">IAS <div style="display: inline; font-style: italic; font: inherit;">21</div> (revised), &#x201c;The effects of changes in foreign exchange rates&#x201d; defines the functional currency as the currency of the primary economic environment in which an entity operates.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The functional and presentation currency of the Company is the U.S. dollar. The U.S. dollar is the currency that best reflects the economic substance of the underlying events and circumstances relevant to Tenaris&#x2019;s global operations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Except for the Brazilian and Italian subsidiaries whose functional currencies are their local currencies, Tenaris determined that the functional currency of its other subsidiaries is the U.S. dollar, based on the following principal considerations:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Sales are mainly negotiated, denominated and settled in U.S. dollars. If priced in a currency other than the U.S. dollar, the sales price <div style="display: inline; font-style: italic; font: inherit;"> may </div>consider exposure to fluctuation in the exchange rate versus the U.S. dollar;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Prices of their critical raw materials and inputs are priced and settled in U.S. dollars;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Transaction and operational environment and the cash flow of these operations have the U.S. dollar as reference currency;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Significant level of integration of the local operations within Tenaris&#x2019;s international global distribution network;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Net financial assets and liabilities are mainly received and maintained in U.S. dollars;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">The exchange rate of certain legal currencies has long-been affected by recurring and severe economic crises.</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Transactions in currencies other than the functional currency</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuation where items are re-measured. </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when the fair value was determined. </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included in <div style="display: inline; font-style: italic;">Other financial results</div> in the Consolidated Income Statement, except when deferred in equity as qualifying cash flow hedges and qualifying net investment hedges. </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">3</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Translation of financial information in currencies other than the functional currency</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Results of operations for subsidiaries whose functional currencies are <div style="display: inline; font-style: italic; font: inherit;">not</div> the U.S. dollar are translated into U.S. dollars at the average exchange rates for each quarter of the year. Financial statement positions are translated at the year-end exchange rates. Translation differences are recognized in a separate component of equity as currency translation adjustments. In the case of a sale or other disposal of any of such subsidiaries, any accumulated translation difference would be recognized in income as a gain or loss from the sale.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill and fair value adjustments arising from the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing rate.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory', window );">Description of accounting policy for property, plant and equipment [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">E&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Property, plant and equipment are recognized at historical acquisition or construction cost less accumulated depreciation and impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Property, plant and equipment acquired through acquisitions accounted for as business combinations have been valued initially at the fair market value of the assets acquired.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Major overhaul and rebuilding expenditures are capitalized as property, plant and equipment only when it is probable that future economic benefits associated with the item will flow to the Company and the investment enhances the condition of assets beyond its original condition. The carrying amount of the replaced part is derecognized. Maintenance expenses on manufacturing properties are recorded as cost of products sold in the year in which they are incurred.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cost <div style="display: inline; font-style: italic; font: inherit;"> may </div>also include transfers from equity of any gains or losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowing costs that are attributable to the acquisition or construction of certain capital assets are capitalized as part of the cost of the asset, in accordance with IAS <div style="display: inline; font-style: italic; font: inherit;">23</div>(R), &#x201c;Borrowing Costs&#x201d;. Assets for which borrowing costs are capitalized are those that require a substantial period of time to prepare for their intended use.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The depreciation method is reviewed at each year end. Depreciation is calculated using the straight-line method to depreciate the cost of each asset to its residual value over its estimated useful life, as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"> <tr> <td style="vertical-align: top; width: 4%; text-align: justify">&nbsp;</td> <td style="vertical-align: top; width: 56%; text-align: justify"><div style="display: inline; font-size: 10pt">Land</div></td> <td style="vertical-align: bottom; width: 40%"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">No Depreciation</div></div></td> </tr> <tr> <td style="vertical-align: top; text-align: justify">&nbsp;</td> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-size: 10pt">Buildings and improvements </div></td> <td style="vertical-align: bottom"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">30-50 years</div></div></td> </tr> <tr> <td style="vertical-align: top; text-align: justify">&nbsp;</td> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-size: 10pt">Plant and production equipment </div></td> <td style="vertical-align: bottom"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">10-40 years</div></div></td> </tr> <tr> <td style="vertical-align: top; text-align: justify">&nbsp;</td> <td style="vertical-align: top; text-align: justify"><div style="display: inline; font-size: 10pt">Vehicles, furniture and fixtures, and other equipment</div></td> <td style="vertical-align: bottom"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">4-10 years</div></div></td> </tr> </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The assets&#x2019; residual values and useful lives of significant plant and production equipment are reviewed and adjusted, if appropriate, at each year-end date. An asset&#x2019;s carrying amount is written down immediately to its recoverable amount if the asset&#x2019;s carrying amount is greater than its estimated recoverable amount.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management&#x2019;s re-estimation of assets useful lives, performed in accordance with IAS <div style="display: inline; font-style: italic; font: inherit;">16,</div> &#x201c;Property, Plant and Equipment&#x201d;, did <div style="display: inline; font-style: italic; font: inherit;">not</div> materially affect depreciation expenses for <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris depreciates each significant part of an item of property, plant and equipment for its different production facilities that (i) can be properly identified as an independent component with a cost that is significant in relation to the total cost of the item, and (ii) has a useful operating life that is different from another significant part of that same item of property, plant and equipment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Gains and losses on disposals are determined by comparing the proceeds with the carrying amount of assets and are recognized under <div style="display: inline; font-style: italic;">Other operating income </div>or <div style="display: inline; font-style: italic;">Other operating expenses</div> in the Consolidated Income Statement.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory', window );">Description of accounting policy for intangible assets and goodwill [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Goodwill</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify"><div style="display: inline; font-style: normal">Goodwill represents the excess of the acquisition cost over the fair value of Tenaris&#x2019;s share of net identifiable assets acquired as part of business combinations determined mainly by independent valuations. Goodwill is tested at least annually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are <div style="display: inline; font-style: italic; font: inherit;">not</div> reversed. Goodwill is included in the Consolidated Statement of Financial Position under </div>Intangible assets, net.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">For the purpose of impairment testing, goodwill is allocated to a CGU or group of CGUs that are expected to benefit from the business combination which generated the goodwill being tested. </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information systems projects</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Costs associated with maintaining computer software programs are generally recognized as an expense as incurred. However, costs directly related to the development, acquisition and implementation of information systems are recognized as intangible assets if it is probable that they have economic benefits exceeding <div style="display: inline; font-style: italic; font: inherit;">one</div> year and comply with the recognition criteria of IAS <div style="display: inline; font-style: italic; font: inherit;">38,</div> &#x201c;Intangible Assets&#x201d;.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 117 --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Information systems projects recognized as assets are amortized using the straight-line method over their useful lives, generally <div style="display: inline; font-style: italic; font: inherit;">not</div> exceeding a period of <div style="display: inline; font-style: italic; font: inherit;">3</div> years. Amortization charges are mainly classified as <div style="display: inline; font-style: italic;">Selling, general and administrative expenses</div> in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management&#x2019;s re-estimation of assets useful lives, performed in accordance with IAS <div style="display: inline; font-style: italic; font: inherit;">38,</div> did <div style="display: inline; font-style: italic; font: inherit;">not</div> materially affect amortization expenses for <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">3</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Licenses, patents, trademarks and proprietary technology</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Licenses, patents, trademarks, and proprietary technology acquired in a business combination are initially recognized at fair value at the acquisition date. Licenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their estimated useful lives, and does <div style="display: inline; font-style: italic; font: inherit;">not</div> exceed a period of <div style="display: inline; font-style: italic; font: inherit;">10</div> years. Amortization charges are mainly classified as <div style="display: inline; font-style: italic;">Selling, general and administrative expenses</div> in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The balance of acquired trademarks that have indefinite useful lives according to external appraisal amounts to <div style="display: inline; font-style: italic; font: inherit;">$86.7</div> million at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div><div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017,</div> and are included in Hydril CGU. Main factors considered in the determination of the indefinite useful lives include the years that they have been in service and their recognition among customers in the industry.</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management&#x2019;s re-estimation of assets useful lives, performed in accordance with IAS <div style="display: inline; font-style: italic; font: inherit;">38,</div> did <div style="display: inline; font-style: italic; font: inherit;">not</div> materially affect amortization expenses for <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">4</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Research and development</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Research expenditures as well as development costs that do <div style="display: inline; font-style: italic; font: inherit;">not</div> fulfill the criteria for capitalization are recorded as <div style="display: inline; font-style: italic;">Cost of sales</div> in the Consolidated Income Statement as incurred. Research and development expenditures included in <div style="display: inline; font-style: italic;">Cost of sales</div> for the years <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017</div> totaled <div style="display: inline; font-style: italic; font: inherit;">$61.1</div> million, <div style="display: inline; font-style: italic; font: inherit;">$63.4</div> million and <div style="display: inline; font-style: italic; font: inherit;">$63.7</div> million, respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Capitalized costs were <div style="display: inline; font-style: italic; font: inherit;">not</div> material for the years <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: -0.5in"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(<div style="display: inline; font-style: italic; font: inherit;">5</div>)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Customer relationships</div></td> </tr> </table> <div style=" margin: 0pt 0.9pt 0pt 13.85pt; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">In accordance with IFRS <div style="display: inline; font-style: italic; font: inherit;">3,</div> "Business Combinations" and IAS <div style="display: inline; font-style: italic; font: inherit;">38,</div> Tenaris has recognized the value of customer relationships separately from goodwill attributable to the acquisition of Maverick and Hydril groups, as well as the more recent acquisition of SSP.</div> <div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">Customer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight line method over the initial expected useful life of approximately <div style="display: inline; font-style: italic; font: inherit;">14</div> years for Maverick, <div style="display: inline; font-style: italic; font: inherit;">10</div> years for Hydril and <div style="display: inline; font-style: italic; font: inherit;">9</div> years for SSP.</div> <div style=" margin: 0pt 0.9pt 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">In <div style="display: inline; font-style: italic; font: inherit;">2018</div> the Company reviewed the useful life of Maverick&#x2019;s Tubes customer relationships and decided to reduce the remaining useful life from <div style="display: inline; font-style: italic; font: inherit;">2</div> years to zero, consequently a higher amortization charge of approximately <div style="display: inline; font-style: italic; font: inherit;">$109</div> million was recorded in the Consolidated Income Statement under <div style="display: inline; font-style: italic;">Selling, general and administrative expenses</div> for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2018.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the net book value of SSP&#x2019;s customer relationship amounts to <div style="display: inline; font-style: italic; font: inherit;">$72.9</div> million, with a residual useful life of <div style="display: inline; font-style: italic; font: inherit;">8</div> years. Maverick&#x2019;s coiled tubing customer relationships amounts to <div style="display: inline; font-style: italic; font: inherit;">$9.9</div> million with a residual useful life of <div style="display: inline; font-style: italic; font: inherit;">1</div> year, while Hydril&#x2019;s customer relationships is fully amortized.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory', window );">Description of accounting policy for impairment of non-financial assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">G&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of non-financial assets</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Long-lived assets including identifiable intangible assets are reviewed for impairment at the lowest level for which there are separately identifiable cash flows (cash generating units, or CGU). Most of the Company&#x2019;s principal subsidiaries that constitute a CGU have a single main production facility and, accordingly, each of such subsidiary represents the lowest level of asset aggregation that generates largely independent cash inflows.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable. Intangible assets with indefinite useful lives, including goodwill, are subject to at least an annual impairment test.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In assessing whether there is any indication that a CGU <div style="display: inline; font-style: italic; font: inherit;"> may </div>be impaired, external and internal sources of information are analyzed. Material facts and circumstances specifically considered in the analysis usually include the discount rate used in Tenaris&#x2019;s cash flow projections and the business condition in terms of competitive and economic factors, such as the cost of raw materials, oil and gas prices, capital expenditure programs for Tenaris&#x2019;s customers and the evolution of the rig count.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">An impairment loss is recognized for the amount by which the asset&#x2019;s carrying amount exceeds its recoverable amount. The recoverable amount is the higher between the asset&#x2019;s value in use and fair value less costs of disposal. Any impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the following order:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: right">(a)</td> <td style="width: 5pt"></td> <td style="text-align: justify">first, to reduce the carrying amount of any goodwill allocated to the CGU; and</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: right">(b)</td> <td style="width: 5pt"></td> <td style="text-align: justify">then, to the other assets of the unit (group of units) pro-rata on the basis of the carrying amount of each asset in the unit (group of units), considering <div style="display: inline; font-style: italic; font: inherit;">not</div> to reduce the carrying amount of the asset below the highest of its fair value less cost of disposal, its value in use or zero.</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">For purposes of calculating the fair value less costs of disposal, Tenaris uses the estimated value of future cash flows that a market participant could generate from the corresponding CGU.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management judgment is required to estimate discounted future cash flows. Actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived using discounting techniques.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at each reporting date.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris regularly conducts assessments of the carrying values of its assets. The value-in-use was used to determine the recoverable value. Value-in-use is calculated by discounting the estimated cash flows over a <div style="display: inline; font-style: italic; font: inherit;">five</div>-year period based on forecasts approved by management. For the subsequent years beyond the <div style="display: inline; font-style: italic; font: inherit;">five</div>-year period, a terminal value is calculated based on perpetuity.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris&#x2019;s main source of revenue is the sale of products and services to the oil and gas industry and the level of such sales is sensitive to international oil and gas prices and their impact on drilling activities.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For purposes of assessing key assumptions, Tenaris uses external sources of information and management judgment based on past experience.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The main key assumptions used in estimating the value in use are discount rate, growth rate and competitive and economic factors applied to determine Tenaris&#x2019;s cash flow projections, such as oil and gas prices, average number of active oil and gas drilling rigs (rig count) and raw material costs.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management has determined the value of each of the key assumptions as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Discount rate: based on the applicable weighted average cost of capital (WACC), which is considered to be a good indicator of capital cost, taking into account the industry, country and size of the business. For each CGU where assets are allocated, a specific WACC was determined taking into account the industry, country and size of the business. In <div style="display: inline; font-style: italic; font: inherit;">2019,</div> the main discount rates used were in a range between <div style="display: inline; font-style: italic; font: inherit;">8.2%</div> and <div style="display: inline; font-style: italic; font: inherit;">15.9%.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Growth rate: considers the long-term average growth rate for the oil and gas industry, the inflation impact on prices and costs, the higher demand to offset depletion of existing fields and the Company&#x2019;s expected market penetration. In <div style="display: inline; font-style: italic; font: inherit;">2019,</div> a nominal growth rate of <div style="display: inline; font-style: italic; font: inherit;">2%</div> was considered.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Oil and gas prices: based on industry analysts&#x2019; reports and&nbsp;management&#x2019;s expectations of market development respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Rig count: based on information published by Baker Hughes and management&#x2019;s expectations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">- Raw material costs: based on industry analysts&#x2019; reports and management&#x2019;s expectations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The main factors that could result in additional impairment charges in future periods would be an increase in the discount rate or a decrease in growth rate used in the Company&#x2019;s cash flow projections, a deterioration of the business, competitive and economic factors, such as a decrease in oil and gas prices, and the evolution of the rig count.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For the CGU with significant amount of goodwill assigned in comparison to the total amount of goodwill, Tenaris has determined that the CGU for which a reasonable possible change in the key assumption would cause the CGUs&#x2019; carrying amount to exceed its recoverable amount was OCTG USA.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In OCTG USA, the recoverable amount calculated based on value in use exceeded carrying value by <div style="display: inline; font-style: italic; font: inherit;">$108</div> million as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019. </div>The following changes in key assumptions, at CGU OCTG &#x2013; USA, assuming unchanged values for the other assumptions, would cause the recoverable amount to be equal to the respective carrying value as of the impairment tests:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 76%; border: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt">Increase in the discount rate</div></td> <td style="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">95 Bps</div></div></td> </tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt">Decrease of the growth rate</div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">-1.6 %</div></div></td> </tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt">Decrease of the cash flow projections</div></td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">-15.3 %</div></div></td> </tr> </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic; font: inherit;">No</div> impairment charge was recorded in <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017.</div></div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory', window );">Description of accounting policy for investments other than investments accounted for using equity method [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">H</div> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; font-weight: bold;">Other investments</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other investments consist primarily of investments in financial instruments and time deposits with a maturity of more than <div style="display: inline; font-style: italic; font: inherit;">three</div> months at the date of purchase.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Certain non-derivative financial assets that the Company held <div style="display: inline; font-style: italic; font: inherit;">not</div> for trading have been categorized as financial assets &#x201c;at fair value through other comprehensive income&#x201d; (&#x201c;FVOCI&#x201d;). They are carried at fair value and interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold. Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income Statement. FVOCI instruments with maturities greater than <div style="display: inline; font-style: italic; font: inherit;">12</div> months after the balance sheet date are included in non-current assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other investments in financial instruments and time deposits are categorized as financial assets &#x201c;at fair value through profit or loss&#x201d; because such investments are held for trading and their performance is evaluated on a fair value basis. The results of these investments are recognized in <div style="display: inline; font-style: italic;">Financial Results</div> in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Purchases and sales of financial investments are recognized as of their settlement date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of quoted investments are generally based on current bid prices. If the market for a financial investment is <div style="display: inline; font-style: italic; font: inherit;">not</div> active or the securities are <div style="display: inline; font-style: italic; font: inherit;">not</div> listed, Tenaris estimates the fair value by using standard valuation techniques. See Section III Financial Risk Management.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories', window );">Description of accounting policy for measuring inventories [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">I&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Inventories are stated at the lower between cost and net realizable value. The cost of finished goods and goods in process is comprised of raw materials, direct labor, utilities, freights and other direct costs and related production overhead costs, and it excludes borrowing costs. The allocation of fixed production costs, including depreciation and amortization charges, is based on the normal level of production capacity. Inventories cost is mainly based on the FIFO method. Tenaris estimates net realizable value of inventories by grouping, where applicable, similar or related items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated costs of completion and selling expenses. Goods in transit as of year-end are valued based on the supplier&#x2019;s invoice cost.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris establishes an allowance for obsolete or slow-moving inventories related to finished goods, goods in process, supplies and spare parts. For slow moving or obsolete finished products, an allowance is established based on management&#x2019;s analysis of product aging. An allowance for obsolete and slow-moving inventory of supplies and spare parts is established based on management's analysis of such items to be used as intended and the consideration of potential obsolescence due to technological changes, aging and consumption patterns.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory', window );">Description of accounting policy for trade and other receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">J&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade and other receivables</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Trade and other receivables are recognized initially at fair value that corresponds to the amount of consideration that is unconditional unless they contain significant financing components. The Company holds trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. Due to the short-term nature, their carrying amount is considered to be the same as their fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris applies the IFRS <div style="display: inline; font-style: italic; font: inherit;">9</div> &#x201c;Financial Instruments&#x201d; simplified approach to measure expected credit losses, which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The expected loss rates are based on the payment profiles of sales over a period of <div style="display: inline; font-style: italic; font: inherit;">three</div> years and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle the receivables.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents', window );">Description of accounting policy for determining components of cash and cash equivalents [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">K&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cash and cash equivalents are comprised of cash at banks, liquidity funds and short-term investments with a maturity of less than <div style="display: inline; font-style: italic; font: inherit;">three</div> months at the date of purchase which are readily convertible to known amounts of cash. Assets recorded in cash and cash equivalents are carried at fair market value or at historical cost which approximates fair market value.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In the Consolidated Statement of Financial Position, bank overdrafts are included in <div style="display: inline; font-style: italic;">Borrowings</div> in current liabilities.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For the purposes of the Consolidated Statement of Cash Flows, <div style="display: inline; font-style: italic;">Cash and cash equivalents</div> includes overdrafts.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory', window );">Description of accounting policy for issued capital [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">L&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity</div> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Equity components</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; font-style: italic; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Consolidated Statement of Changes in Equity includes:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">The value of share capital, legal reserve, share premium and other distributable reserves calculated in accordance with Luxembourg law;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt">The currency translation adjustment, other reserves, retained earnings and non-controlling interest calculated in accordance with IFRS.</div></td> </tr> </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Share capital</td> </tr> </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has an authorized share capital of a single class of <div style="display: inline; font-style: italic; font: inherit;">2.5</div> billion shares having a nominal value of <div style="display: inline; font-style: italic; font: inherit;">$1.00</div> per share. Total ordinary shares issued and outstanding as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div><div style="display: inline; font-style: italic; font: inherit;">2018</div> and <div style="display: inline; font-style: italic; font: inherit;">2017</div> are <div style="display: inline; font-style: italic; font: inherit;">1,180,536,830</div> with a par value of <div style="display: inline; font-style: italic; font: inherit;">$1.00</div> per share with <div style="display: inline; font-style: italic; font: inherit;">one</div> vote each. All issued shares are fully paid.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div><div style=" margin: 0pt 0; font-size: 10pt"></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(<div style="display: inline; font-style: italic; font: inherit;">3</div>)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Dividends distribution by the Company to shareholders</div></td> </tr> </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Dividends distributions are recorded in the Company&#x2019;s financial statements when Company&#x2019;s shareholders have the right to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with the by-laws of the Company.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Dividends <div style="display: inline; font-style: italic; font: inherit;"> may </div>be paid by the Company to the extent that it has distributable retained earnings, calculated in accordance with Luxembourg law. See Note <div style="display: inline; font-style: italic; font: inherit;">25</div> (iii).</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory', window );">Description of accounting policy for borrowings [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">M&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowings</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowings are recognized initially at fair value net of transaction costs incurred and subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock', window );">Description of accounting policy for current and deferred income tax [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">N&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current and Deferred income tax</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The income tax expense or credit for the period is the tax payable on the current period&#x2019;s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. Tax is recognized in the Consolidated Income Statement, except for tax items recognized in other comprehensive income or directly in equity.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the reporting date in the countries where the Company&#x2019;s subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions when appropriate.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred income tax is recognized applying the liability method on temporary differences arising between the tax basis of assets and liabilities and their carrying amounts in the financial statements. The principal temporary differences arise from the effect of currency translation on depreciable fixed assets and inventories, depreciation on property, plant and equipment, valuation of inventories, provisions for pension plans and fair value adjustments of assets acquired in business combinations. Deferred tax assets are also recognized for net operating loss carry-forwards. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the time period when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted at the reporting date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets are recognized to the extent that it is probable that future taxable income will be available against which the temporary differences can be utilized. At the end of each reporting period, Tenaris reassesses unrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax asset to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax liabilities and assets are <div style="display: inline; font-style: italic; font: inherit;">not</div> recognized for temporary differences between the carrying amount and tax basis of investments in foreign operations where the company is able to control the timing of the reversal of the temporary differences and it is probable that the differences will <div style="display: inline; font-style: italic; font: inherit;">not</div> reverse in the foreseeable future.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets and liabilities are re-measured if tax rates change. These amounts are charged or credited to the Consolidated Income Statement or to the item <div style="display: inline; font-style: italic;">Other comprehensive income for the year </div>in the Consolidated Statement of Comprehensive Income, depending on the account to which the original amount was charged or credited.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory', window );">Description of accounting policy for employee benefits [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">O&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee benefits</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left"><div style="display: inline; font-style: italic;">(<div style="display: inline; font-style: italic; font: inherit;">1</div>)</div></td> <td style="width: 5pt"></td> <td style="text-align: justify"><div style="display: inline; font-style: italic;">Short-term obligations</div></td> </tr> </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Liabilities for wages and salaries are recognized in respect of employees&#x2019; services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">2</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Post employment benefits</td> </tr> </table> <div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt; font-style: italic; text-align: justify; text-indent: -22.5pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has defined benefit and defined contribution plans. A defined benefit plan is a pension plan that defines an amount of pension benefit that an employee will receive on retirement, usually dependent on <div style="display: inline; font-style: italic; font: inherit;">one</div> or more factors such as age, years of service and compensation.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets, if any. The defined benefit obligation is calculated annually (at year end) by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in <div style="display: inline; font-style: italic;">Other comprehensive income</div> in the period in which they arise. Past-service costs are recognized immediately in the Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For defined benefit plans, net interest income/expense is calculated based on the surplus or deficit derived by the difference between the defined benefit obligations less fair value of plan assets. For defined contribution plans, the Company pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Company has <div style="display: inline; font-style: italic; font: inherit;">no</div> further payment obligations once the contributions have been paid. The contributions are recognized as employee benefit expenses when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris sponsors funded and unfunded defined benefit pension plans in certain subsidiaries. The most significant are:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">An unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed to provide certain benefits to those officers (additional to those contemplated under applicable labor laws) in case of termination of the employment relationship due to certain specified events, including retirement. This unfunded plan provides defined benefits based on years of service and final average salary. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the outstanding liability for this plan amounts to <div style="display: inline; font-style: italic; font: inherit;">$45.3</div> million.</td> </tr> </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Employees&#x2019; service rescission indemnity: the cost of this obligation is charged to the Consolidated Income Statement over the expected service lives of employees. This provision is primarily related to the liability accrued for employees at Tenaris&#x2019;s Italian subsidiary. As from <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2007 </div>as a consequence of a change in an Italian law, employees were entitled to make contributions to external funds, thus, Tenaris&#x2019;s Italian subsidiary pays every year the required contribution to the funds with <div style="display: inline; font-style: italic; font: inherit;">no</div> further obligation. As a result, the plan changed from a defined benefit plan to a defined contribution plan effective from that date, but only limited to the contributions of <div style="display: inline; font-style: italic; font: inherit;">2007</div> onwards. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the outstanding liability for this plan amounts to <div style="display: inline; font-style: italic; font: inherit;">$17.3</div> million.</td> </tr> </table> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Funded retirement benefit plans held in Canada for salary and hourly employees hired prior to a certain date based on years of service and, in the case of salaried employees, final average salary. Plan assets consist primarily of investments in equities and money market funds. Both plans were replaced for defined contribution plans. Effective <div style="display: inline; font-style: italic; font: inherit;"> June 2016 </div>the salary plan was frozen for the purposes of credited service as well as determination of final average pay. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the outstanding liability for this plan amounts to <div style="display: inline; font-style: italic; font: inherit;">$9.8</div> million.</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 17.85pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Funded retirement benefit plan held in the US for the benefit of some employees hired prior a certain date, frozen for the purposes of credited service as well as determination of final average pay for the retirement benefit calculation. Plan assets consist primarily of investments in equities and money market funds. Additionally, an unfunded postretirement health and life plan is present that offers limited medical and life insurance benefits to the retirees, hired before a certain date. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>the outstanding liability for these plans amounts to <div style="display: inline; font-style: italic; font: inherit;">$13.4</div> million.</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 123 --> <div style=" margin: 0pt 0; font-size: 10pt"></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">3</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Other long term benefits</td> </tr> </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">During <div style="display: inline; font-style: italic; font: inherit;">2007,</div> Tenaris launched an employee retention and long term incentive program (the &#x201c;Program&#x201d;) applicable to certain senior officers and employees of the Company, who will be granted a number of Units throughout the duration of the Program. The value of each of these Units is based on Tenaris&#x2019;s shareholders&#x2019; equity (excluding non-controlling interest). Also, the beneficiaries of the Program are entitled to receive cash amounts based on (i) the amount of dividend payments made by Tenaris to its shareholders, and (ii) the number of Units held by each beneficiary to the Program. Until <div style="display: inline; font-style: italic; font: inherit;">2017</div> units were vested ratably over a period of <div style="display: inline; font-style: italic; font: inherit;">four</div> years and were mandatorily redeemed by the Company <div style="display: inline; font-style: italic; font: inherit;">ten</div> years after grant date, with the option of an early redemption at <div style="display: inline; font-style: italic; font: inherit;">seven</div> years after the grant date. Since <div style="display: inline; font-style: italic; font: inherit;">2018</div> units are vested ratably over the same period and are mandatorily redeemed by the Company <div style="display: inline; font-style: italic; font: inherit;">seven</div> years after grant date. The payment of the benefit is tied to the book value of the shares, and <div style="display: inline; font-style: italic; font: inherit;">not</div> to their market value. Tenaris valued this long-term incentive program as a long term benefit plan as classified in IAS <div style="display: inline; font-style: italic; font: inherit;">19,</div> &#x201c;Employee Benefits&#x201d;.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> the outstanding liability corresponding to the Program amounts to <div style="display: inline; font-style: italic; font: inherit;">$99.0</div> million and <div style="display: inline; font-style: italic; font: inherit;">$91.2</div> million, respectively. The total value of the units granted (vested and unvested) to date under the program, considering the number of units and the book value per share as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018,</div> is <div style="display: inline; font-style: italic; font: inherit;">$119.9</div> million and <div style="display: inline; font-style: italic; font: inherit;">$106</div> million, respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">4</div>)</td> <td style="width: 5pt"></td> <td style="text-align: left">Termination benefits</td> </tr> </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Termination benefits are payable when employment is terminated by Tenaris before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. Tenaris recognizes termination benefits at the earlier of the following dates: (a) when it can <div style="display: inline; font-style: italic; font: inherit;">no</div> longer withdraw the offer of those benefits; and (b) when the costs for a restructuring that is within the scope of IAS <div style="display: inline; font-style: italic; font: inherit;">37</div> and involves the payment of terminations benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-style: italic; margin-top: 0pt; margin-bottom: 6pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: left">(<div style="display: inline; font-style: italic; font: inherit;">5</div>)</td> <td style="width: 5pt"></td> <td style="text-align: justify">Other compensation obligations</td> </tr> </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Employee entitlements to annual leave, long-service leave, sick leave and other bonuses and compensations obligations are accrued as earned.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 66.55pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Compensation to employees in the event of dismissal is charged to income in the year in which it becomes payable.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory', window );">Description of accounting policy for provisions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">P&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provisions</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris is subject to various claims, lawsuits and other legal proceedings, including customer claims, in which a <div style="display: inline; font-style: italic; font: inherit;">third</div> party is seeking payment for alleged damages, reimbursement for losses or indemnity. Tenaris&#x2019;s potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management periodically reviews the status of each significant matter and assesses potential financial exposure. If, as a result of past events, a potential loss from a claim or proceeding is considered probable and the amount can be reliably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements, and take into consideration Tenaris&#x2019;s litigation and settlement strategies. These estimates are primarily constructed with the assistance of legal counsel. As the scope of liabilities become better defined, there <div style="display: inline; font-style: italic; font: inherit;"> may </div>be changes in the estimates of future costs which could have a material adverse effect on its results of operations, financial condition and cash flows.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If Tenaris expects to be reimbursed for an accrued expense, as would be the case for an expense or loss covered under an insurance contract, and reimbursement is considered virtually certain, the expected reimbursement is recognized as a receivable.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">This note should be read in conjunction with Note <div style="display: inline; font-style: italic; font: inherit;">25.</div></div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory', window );">Description of accounting policy for trade and other payables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">Q &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade and other payables</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Trade and other payables are recognized initially at fair value, generally the nominal invoice amount and subsequently measured at amortized cost. They are presented as current liabilities unless payment is <div style="display: inline; font-style: italic; font: inherit;">not</div> due within <div style="display: inline; font-style: italic; font: inherit;">twelve</div> months after the reporting period. Due to the short-term nature their carrying amounts are considered to be the same as their fair value.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue', window );">Description of accounting policy for recognition of revenue [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">R&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue recognition</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue comprises the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of Tenaris&#x2019;s activities. The revenue recognized by the Company is measured at the transaction price of the consideration received or receivable to which the Company is entitled to, reduced by estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value to be realized and after eliminating sales within the group.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue is recognized at a point in time or over time from sales when control has been transferred and there is <div style="display: inline; font-style: italic; font: inherit;">no</div> unfulfilled performance obligation that could affect the acceptance of the product by the customer. The control is transferred upon delivery. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred and either the customer has accepted the product in accordance with the sales contract, the acceptance provisions have lapsed or the Company has objective evidence that all criteria for acceptance have been satisfied, including all performance obligations. These conditions are determined and analyzed on a contract by contract basis to ensure that all performance obligations are fulfilled; in particular, Tenaris verifies customer acceptance of the goods, the satisfaction of delivery terms and any other applicable condition.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal; color: black">For bill and hold transactions</div> <div style="display: inline; font-weight: normal">revenue is recognized only to the extent that (a) the reason for the bill and hold arrangement must be substantive (for example, the customer has requested the arrangement); (b) the products have been specifically identified and are ready for delivery; (c) the Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> have the ability to use the product or to direct it to another customer; (d) the usual payment terms apply.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#x2019;s contracts with customers do <div style="display: inline; font-style: italic; font: inherit;">not</div> provide any material variable consideration, other than discounts, rebates and right of return. Discounts and rebates are recognized based on the most likely value and rights of return are based on expected value considering past experience and contract conditions.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">Where the contracts include multiple performance obligations, the transaction price is allocated to each performance obligation based on the stand-alone selling prices. Where these are <div style="display: inline; font-style: italic; font: inherit;">not</div> directly observable, they are estimated based on the expected cost plus margin.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There are <div style="display: inline; font-style: italic; font: inherit;">no</div> judgements applied by management that significantly affect the determination of timing of satisfaction of performance obligations, nor the transaction price and amounts allocated to different performance obligations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris provides services related to goods sold, which represent a non-material portion of sales revenue and include:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Pipe Management Services. </div>This comprises mainly preparation of the pipes ready to be run, delivery to the customer, storage services and rig return.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Field Services. </div>Comprises&nbsp;field technical support and running assistance.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">These services are rendered in connection to the sales of goods and are attached to contracts with customers for the sale of goods. A significant portion of service revenue is recognized in the same period as the goods sold. There are <div style="display: inline; font-style: italic; font: inherit;">no</div> distinct uncertainties in the revenues and cash flows of the goods sold and services rendered as they are included in the same contract, have the same counterparty and are subject to the same conditions.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue from providing services is recognized over time in the accounting period in which the services are rendered. The following inputs and outputs methods are applied to recognize revenue considering the nature of service:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Storage services</div>, the Company provides storage services in owned or <div style="display: inline; font-style: italic; font: inherit;">third</div>-party warehouses, subject to a variable fee to be invoiced. This fee is determined based on the time that the customer maintains the material in the warehouse and the amount of the material stored. In the majority of cases, to quantify the amount to be invoiced in any given month, the monthly average fee of storage per ton is multiplied by the monthly average stock stored (in tons).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Freights, </div>the Company recognized the revenue on a pro rata bases considering the units delivered and time elapsed.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Field services</div>, the revenue is recognized considering outputs method, in particular surveys of service completion provided by the customer.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"></div> <!-- Field: Page; Sequence: 125 --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds <div style="display: inline; font-style: italic; font: inherit;">one</div> year. As a consequence, considering that the contracts do <div style="display: inline; font-style: italic; font: inherit;">not</div> include any significant financing component, the Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> adjust any of the transaction prices for the time value of money. For this reason, the Company is also applying the practical expedient <div style="display: inline; font-style: italic; font: inherit;">not</div> to disclose details on transaction prices allocated to the remaining performance obligations as of the end of the reporting period.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tenaris only provides standard quality warranties assuring that the goods sold will function as expected or are fit for their intended purpose, with <div style="display: inline; font-style: italic; font: inherit;">no</div> incremental service to the customer. Accordingly, warranties do <div style="display: inline; font-style: italic; font: inherit;">not</div> constitute a separate performance obligation.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Other revenues earned by Tenaris are recognized on the following basis:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Interest income: on the effective yield basis.</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Dividend income from investments in other companies: when Tenaris&#x2019;s right to receive payment is established.</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify">Construction contracts revenues is recognized in accordance with the stage of the project completion.</td> </tr> </table></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory', window );">Description of accounting policy for expenses [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0">S&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of sales and other selling expenses</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cost of sales and other selling expenses are recognized in the Consolidated Income Statement on the accrual basis of accounting.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Commissions, freights and other selling expenses, including shipping and handling costs, are recorded in <div style="display: inline; font-style: italic;">Selling, general and administrative expenses </div>in the Consolidated Income Statement.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory', window );">Description of accounting policy for earnings per share [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; font-weight: bold; text-indent: 0in; margin: 0pt 0">T&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per share</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Earnings per share are calculated by dividing the income attributable to owners of the parent by the daily weighted average number of common shares outstanding during the year.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There are <div style="display: inline; font-style: italic; font: inherit;">no</div> dilutive potential ordinary shares.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory', window );">Description of accounting policy for financial instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">U&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial instruments</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non derivative financial instruments comprise investments in financial debt instruments and equity, time deposits, trade and other receivables, cash and cash equivalents, borrowings and trade and other payables.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company classifies its financial instruments according to the following measurement categories:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify">those to be measured subsequently at fair value (either through OCI or through profit or loss), and</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify">those to be measured at amortised cost</td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The classification depends on the Company&#x2019;s business model for managing the financial assets and contractual terms of the cash flows.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets are recognized on their settlement date. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset <div style="display: inline; font-style: italic; font: inherit;">not</div> at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expenses in profit or loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Subsequent measurement of debt instruments depends on the Company&#x2019;s business model for managing the asset and the cash flow characteristics of the asset. There are <div style="display: inline; font-style: italic; font: inherit;">three</div> measurement categories into which the Company classifies its debt instruments:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div><div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Amortized Cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Fair value through other comprehensive income: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets&#x2019; cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Fair value through profit and loss (&#x201c;FVPL&#x201d;): Assets that do <div style="display: inline; font-style: italic; font: inherit;">not</div> meet the criteria for amortized cost or FVOCI. Changes in fair value of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For equity instruments, these are subsequently measured at fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Accounting for derivative financial instruments and hedging activities is included within the Section III, Financial Risk Management.</div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory', window );">Description of accounting policy for non-current assets or disposal groups classified as held for sale and discontinued operations [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">V&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-current assets held for sale and discontinued operations</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits and financial assets that are carried at fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">An impairment loss is recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. A gain is recognized for any subsequent increase in fair value less costs to sell of an asset (or disposal group), but <div style="display: inline; font-style: italic; font: inherit;">not</div> in excess of any cumulative impairment loss previously recognized.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-current assets (including those that are part of a disposal group) are <div style="display: inline; font-style: italic; font: inherit;">not</div> depreciated or amortized while they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue to be recognized.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the balance sheet.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A discontinued operation is a component of the entity that has been disposed of or is classified as held for sale and that represents a separate line of business or geographical area of operations, is part of a single coordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operations are presented separately in the Consolidated Income Statement. See Note <div style="display: inline; font-style: italic; font: inherit;">29.</div></div></div></div></div></div></div></div></div></div></div></div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for employee benefits. Employee benefits are all forms of consideration given by an entity in exchange for services rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for foreign currency translation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the impairment of non-financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for intangible assets and goodwill. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for investment in associates and joint ventures. [Refer: Associates [member]; Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for investments other than investments accounted for using the equity method. [Refer: Investments accounted for using equity method; Investments other than investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for issued capital. [Refer: Issued capital]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for measuring inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Paragraph 36<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_36_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for non-current assets or disposal groups classified as held for sale and discontinued operations. [Refer: Discontinued operations [member]; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for provisions. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for recognising revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for segment reporting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for trade and other payables. [Refer: Trade and other payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for trade and other receivables. [Refer: Trade and other receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy used to determine the components of cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2019-01-01<br> -Paragraph 46<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_46&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for basis of presentation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DescriptionOfAccountingPolicyForBasisOfPresentationTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for current and deferred income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DescriptionOfAccountingPolicyForCurrentAndDeferredIncomeTaxTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfSignificantAccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfSignificantAccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>177
<FILENAME>R154.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6787830496">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 29 - Discontinued Operations - Components Gain on Sale After Income Tax for Disposals (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 20, 2017</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations', window );">Cash received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 331,295<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations', window );">Transaction and other costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,663)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NetAssetsSoldInDisposalCarryingAmount', window );">Carrying amount of net assets sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(137,814)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation', window );">Gain on sale before income tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">189,817<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance', window );">Income tax expense on gain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(100,123)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation', window );">Gain on sale after income tax</a></td>
<td class="nump">$ 89,700<span></span>
</td>
<td class="nump">$ 89,694<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gain (loss) recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation. [Refer: Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_iii&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax expense (income) relating to the gain (loss) on discontinuance when operations are discontinued. [Refer: Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2019-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_33_b_iv&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph h<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_h_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseRelatingToGainLossOnDiscontinuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross gain (loss) recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_GrossGainLossRecognisedOnMeasurementToFairValueLessCostsToSellOrOnDisposalOfAssetsOrDisposalGroupsConstitutingDiscontinuedOperation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross cash inflow from the disposal of non-current assets or disposal groups classified as held for sale and discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_GrossProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NetAssetsSoldInDisposalCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net assets sold during the period in a disposal at carrying value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NetAssetsSoldInDisposalCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transaction and other costs related to disposals of discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_TransactionAndOtherCostsRelatedToDisposalsOfDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>178
<FILENAME>R43.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790516000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 33 - Nationalization of Venezuelan Subsidiaries<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DisclosureOfNationalizationOfSubsidiariesTextBlock', window );">Disclosure of Nationalization of Subsidiaries [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 2.75pt"></td> <td style="width: 36pt"><div style="display: inline; font-style: italic; font: inherit;">33</div></td> <td>Nationalization of Venezuelan Subsidiaries</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;"> May 2009, </div>within the framework of Decree Law <div style="display: inline; font-style: italic; font: inherit;">6058,</div> Venezuela&#x2019;s President announced the nationalization of, among other companies, the Company's majority-owned subsidiaries TAVSA - Tubos de Acero de Venezuela S.A. (&#x201c;Tavsa&#x201d;) and, Matesi Materiales Sider&uacute;rgicos S.A (&#x201c;Matesi&#x201d;), and Complejo Sider&uacute;rgico de Guayana, C.A (&#x201c;Comsigua&#x201d;), in which the Company has a non-controlling interest (collectively, the &#x201c;Venezuelan Companies&#x201d;). Tenaris and its wholly-owned subsidiary, Talta - Trading e Marketing Sociedad Unipessoal Lda (&#x201c;Talta&#x201d;), initiated arbitration proceedings against Venezuela before the ICSID in Washington D.C. in connection with these nationalizations.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <!-- Field: Page; Sequence: 163 -->   <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"></div></div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Matesi</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> January 29, 2016, </div>the tribunal released its award on the arbitration proceeding concerning the nationalization of Matesi. The award upheld Tenaris&#x2019;s and Talta&#x2019;s claim that Venezuela had expropriated their investments in Matesi in violation of Venezuelan law as well as the bilateral investment treaties entered into by Venezuela with the Belgium-Luxembourg Economic Union and Portugal. The award granted compensation in the amount of <div style="display: inline; font-style: italic; font: inherit;">$87.3</div> million for the breaches and ordered Venezuela to pay an additional amount of <div style="display: inline; font-style: italic; font: inherit;">$85.5</div> million in pre-award interest, aggregating to a total award of <div style="display: inline; font-style: italic; font: inherit;">$172.8</div> million, payable in full and net of any applicable Venezuelan tax, duty or charge. The tribunal granted Venezuela a grace period of <div style="display: inline; font-style: italic; font: inherit;">six</div> months from the date of the award to make payment in full of the amount due without incurring post-award interest, and resolved that if <div style="display: inline; font-style: italic; font: inherit;">no,</div> or <div style="display: inline; font-style: italic; font: inherit;">no</div> full, payment is made by then, post-award interest will apply at the rate of <div style="display: inline; font-style: italic; font: inherit;">9%</div> per annum compounded at <div style="display: inline; font-style: italic; font: inherit;">six</div>-monthly rests from the date of the award until payment in full. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>post-award interest amounted to approximately <div style="display: inline; font-style: italic; font: inherit;">$71</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> March 14, 2016, </div>Venezuela requested the rectification of the award pursuant to article <div style="display: inline; font-style: italic; font: inherit;">49</div>(<div style="display: inline; font-style: italic; font: inherit;">2</div>) of the ICSID Convention and ICSID Arbitration Rule <div style="display: inline; font-style: italic; font: inherit;">49.</div> The tribunal denied Venezuela&#x2019;s request on <div style="display: inline; font-style: italic; font: inherit;"> June 24, 2016, </div>ordering Venezuela to reimburse Tenaris and Talta for their costs incurred in connection with the rectification proceedings. On <div style="display: inline; font-style: italic; font: inherit;"> September 21, 2016, </div>Venezuela submitted a request for annulment of the award as well as the stay of enforcement of the award in accordance with the ICSID Convention and Arbitration Rules. On <div style="display: inline; font-style: italic; font: inherit;"> March 24, 2017, </div>an ad hoc committee constituted to decide on Venezuela&acute;s requests rendered its decision to lift the stay of enforcement of the award. On <div style="display: inline; font-style: italic; font: inherit;"> August 8, 2018, </div>the ad hoc committee rejected Venezuela&#x2019;s application to annul the award.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> June 8, 2018, </div>Tenaris and Talta filed an action in federal court in the District of Columbia to recognize and enforce the award. Tenaris and Talta have effected service on Venezuela in accordance with US law, and Venezuela has failed to file an answer in the proceeding.&nbsp;Tenaris and Talta have moved for default judgment.&nbsp;Venezuela did <div style="display: inline; font-style: italic; font: inherit;">not</div> oppose the entry of default judgment. Accordingly, it is expected that the award will be converted into a judgment. The judgment, however, <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be enforced in the U.S. to the extent prohibited by the Venezuelan sanctions regulations issued by the U.S. Treasury Department&#x2019;s Office of Foreign Assets Control.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Tavsa and Comsigua</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> December 12, 2016, </div>the tribunal issued its award upholding Tenaris&#x2019;s and Talta&#x2019;s claim that Venezuela had expropriated their investments in Tavsa and Comsigua in violation of the bilateral investment treaties entered into by Venezuela with the Belgium-Luxembourg Economic Union and Portugal. The award granted compensation in the amount of <div style="display: inline; font-style: italic; font: inherit;">$137</div> million and ordered Venezuela to reimburse Tenaris and Talta <div style="display: inline; font-style: italic; font: inherit;">$3.3</div> million in legal fees and ICSID administrative costs. In addition, Venezuela was ordered to pay interest from <div style="display: inline; font-style: italic; font: inherit;"> April 30, 2008 </div>until the day of effective payment at a rate equivalent to LIBOR + <div style="display: inline; font-style: italic; font: inherit;">4%</div> per annum, which as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>amounted to approximately <div style="display: inline; font-style: italic; font: inherit;">$118</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> April 11, 2017, </div>Venezuela submitted a request for annulment of the award as well as the stay of enforcement of the award in accordance with the ICSID Convention and Arbitration Rules. On <div style="display: inline; font-style: italic; font: inherit;"> February 23, 2018, </div>an ad hoc committee constituted to decide on Venezuela&#x2019;s requests rendered its decision to lift the stay of enforcement of the award. On <div style="display: inline; font-style: italic; font: inherit;"> December 28, 2018, </div>the ad hoc committee rejected Venezuela&#x2019;s application to annul the award.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> June 8, 2018, </div>Tenaris and Talta filed an action in federal court in the District of Columbia to recognize and enforce the award. Tenaris and Talta have effected service on Venezuela in accordance with US law, and Venezuela has failed to file an answer in the proceeding.&nbsp;Tenaris and Talta have moved for default judgment.&nbsp;Venezuela did <div style="display: inline; font-style: italic; font: inherit;">not</div> oppose the entry of default judgment. Accordingly, it is expected that the award will be converted into a judgment. The judgment, however, <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be enforced in the U.S. to the extent prohibited by the Venezuelan sanctions regulations issued by the U.S. Treasury Department&#x2019;s Office of Foreign Assets Control.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>Tenaris or its subsidiaries have net receivables related to its interest in the Venezuelan Companies for a total amount of approximately <div style="display: inline; font-style: italic; font: inherit;">$49</div> million. See Note III.B.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DisclosureOfNationalizationOfSubsidiariesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the nationalization of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DisclosureOfNationalizationOfSubsidiariesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>179
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804037488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Investments in Non-consolidated Companies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory', window );">Disclosure of interests in other entities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 22.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">12</div></div></td> <td><div style="display: inline; font-weight: bold;">Investments in non-consolidated companies</div></td> </tr>  </table> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">At the beginning of the year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">805,568</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">640,294</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Translation differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,781</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,848</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Equity in earnings of non-consolidated companies</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">82,036</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">193,994</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase due to business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,635</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Dividends and distributions received (*)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(28,037</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(26,581</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Additions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,610</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Decrease / increase in equity reserves and others</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,066</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,987</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">At the end of the year</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">879,965</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">805,568</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0 0pt 22.5pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(*) Related to Ternium and Usiminas. During <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">$29.0</div> million were collected.</div> <div style=" margin: 0pt 0 0pt 4.3pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The principal non-consolidated companies are:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% ownership at December 31,</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Value at December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Company</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Country of incorporation</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 20%; font-size: 10pt; text-align: left">a) Ternium (*)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 25%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Luxembourg</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11.46</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11.46</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">751,105</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">725,548</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">b) Usiminas (**)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">Brazil</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.07</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.07</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">74,593</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">72,988</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,267</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,032</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">879,965</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">805,568</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(*) Including treasury shares.</div> <div style=" margin: 0pt 0; font-size: 10pt">(**) At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>and <div style="display: inline; font-style: italic; font: inherit;">2018</div> the voting rights were <div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">5.2%.</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in"><div style="display: inline; font-style: italic;">a) Ternium</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ternium, is a steel producer with production facilities in Mexico, Argentina, Brazil, Colombia, United States and Guatemala and is <div style="display: inline; font-style: italic; font: inherit;">one</div> of Tenaris&#x2019;s main suppliers of round steel bars and flat steel products for its pipes business.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the closing price of Ternium&#x2019;s ADSs as quoted on the New York Stock Exchange was <div style="display: inline; font-style: italic; font: inherit;">$22</div> per ADS, giving Tenaris&#x2019;s ownership stake a market value of approximately <div style="display: inline; font-style: italic; font: inherit;">$505.4</div> million. At <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the carrying value of Tenaris&#x2019;s ownership stake in Ternium, based on Ternium&#x2019;s IFRS Financial Statements, was approximately <div style="display: inline; font-style: italic; font: inherit;">$751.1</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019&nbsp;</div>the Company concluded that&nbsp;the carrying amount does <div style="display: inline; font-style: italic; font: inherit;">not</div> exceed the recoverable value of the investment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Summarized selected financial information of Ternium, including the aggregated amounts of assets, liabilities, revenues and profit or loss is as follows:</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Ternium</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Non-current assets</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,757,320</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,121,824</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current assets</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,178,213</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,426,038</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,935,533</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,547,862</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,452,535</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,236,756</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,768,125</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,826,530</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,220,660</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,063,286</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-controlling interests</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,103,208</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,091,321</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Revenues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,192,818</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,454,807</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gross profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,740,378</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,971,479</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Net income for the year attributable to owners of the parent</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">564,269</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,506,647</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total comprehensive income for the year, net of tax, attributable to owners of the parent</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">445,473</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,176,964</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 143 -->   <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in"><div style="display: inline; font-style: italic;">b) Usiminas</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Usiminas is a Brazilian producer of high quality flat steel products used in the energy, automotive and other industries.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the closing price of the Usiminas&#x2019; ordinary and preferred shares, as quoted on the <div style="display: inline; font-style: italic; font: inherit;">B3</div> - Brasil Bolsa Balc&atilde;o S.A, was <div style="display: inline; font-style: italic; font: inherit;">BRL9.83</div> (<div style="display: inline; font-style: italic; font: inherit;">$2.44</div>) and <div style="display: inline; font-style: italic; font: inherit;">BRL9.51</div> (<div style="display: inline; font-style: italic; font: inherit;">$2.36</div>), respectively, giving Tenaris&#x2019;s ownership stake a market value of approximately <div style="display: inline; font-style: italic; font: inherit;">$92</div> million. As of that date, the carrying value of Tenaris&#x2019;s ownership stake in Usiminas was approximately <div style="display: inline; font-style: italic; font: inherit;">$74.6</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Summarized selected financial information of Usiminas, including the aggregated amounts of assets, liabilities, revenues and profit or loss is as follows:</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Usiminas</td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Non-current assets</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,335,662</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,696,896</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current assets</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,198,449</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,148,322</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,534,111</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,845,218</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,955,395</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,933,207</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Current liabilities</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">716,930</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">860,862</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,672,325</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,794,069</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-controlling interests</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">377,667</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">369,333</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Revenues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,790,206</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,766,241</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gross profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">478,141</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">612,156</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Net income for the year attributable to owners of the parent</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,779</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">194,381</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-indent: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">c) Techgen</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-indent: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Techgen is a Mexican company that operates a natural gas-fired combined cycle electric power plant in the Pesquer&iacute;a area of the State of Nuevo Le&oacute;n, Mexico. The company started producing energy on <div style="display: inline; font-style: italic; font: inherit;"> December 1, 2016, </div>with a power capacity of <div style="display: inline; font-style: italic; font: inherit;">900</div> megawatts. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>Tenaris held <div style="display: inline; font-style: italic; font: inherit;">22%</div> of Techgen&#x2019;s share capital, and its affiliates, Ternium and Tecpetrol International S.A. (a wholly-owned subsidiary of San Faustin S.A., the controlling shareholder of both Tenaris and Ternium), held <div style="display: inline; font-style: italic; font: inherit;">48%</div> and <div style="display: inline; font-style: italic; font: inherit;">30%</div> respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Techgen is a party to transportation capacity agreements for a purchasing capacity of <div style="display: inline; font-style: italic; font: inherit;">150,000</div> MMBtu/Gas per day starting on <div style="display: inline; font-style: italic; font: inherit;"> August 1, 2016 </div>and ending on <div style="display: inline; font-style: italic; font: inherit;"> July 31, 2036, </div>and a party to a contract for the purchase of power generation equipment and other services related to the equipment. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>Tenaris&#x2019;s exposure under these agreements amounted to <div style="display: inline; font-style: italic; font: inherit;">$51.9</div> million and <div style="display: inline; font-style: italic; font: inherit;">$0.9</div> million respectively. Furthermore, during <div style="display: inline; font-style: italic; font: inherit;">2018,</div> Techgen entered a contract for the purchase of clean energy certificates. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019 </div>Tenaris&#x2019;s exposure under this agreement amounted to <div style="display: inline; font-style: italic; font: inherit;">$18.2</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: normal">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">During <div style="display: inline; font-style: italic; font: inherit;">2019,</div> Techgen repaid certain subordinated loans to Techgen&#x2019;s sponsors; the part corresponding to Tenaris amounted to <div style="display: inline; font-style: italic; font: inherit;">$40.5</div> million. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019, </div>the aggregate outstanding principal amount under these subordinated loans was <div style="display: inline; font-style: italic; font: inherit;">$58.1</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font: inherit;"> February 13, 2019, </div>Techgen entered into a <div style="display: inline; font-style: italic; font: inherit;">$640</div> million syndicated loan agreement with several banks to refinance an existing loan, resulting in the release of certain corporate guarantee issued by Techgen&#x2019;s shareholders to secure the replaced facility.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Techgen&#x2019;s obligations under the current facility, which is &#x201c;non-recourse&#x201d; on the sponsors, are guaranteed by a Mexican security trust covering Techgen&#x2019;s shares, assets and accounts as well as Techgen&#x2019;s affiliates rights under certain contracts. In addition, Techgen&#x2019;s collection and payment accounts <div style="display: inline; font-style: italic; font: inherit;">not</div> subject to the trust have been pledged in favor of the lenders under the new loan agreement, and certain direct agreements &#x2013;customary for these type of transactions&#x2013; have been entered into with <div style="display: inline; font-style: italic; font: inherit;">third</div> parties and affiliates, including in connection with the agreements for the sale of energy produced by the project and the agreements for the provision of gas and long-term maintenance services to Techgen. The commercial terms and conditions governing the purchase, by the Company&#x2019;s Mexican subsidiary Tamsa, of <div style="display: inline; font-style: italic; font: inherit;">22%</div> of the energy generated by the project remain unchanged.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 10pt">Under the loan agreement, Techgen is committed to maintain a debt service reserve account covering debt service becoming due during <div style="display: inline; font-style: italic; font: inherit;">two</div> consecutive quarters; such account is funded by stand-by letters of credit issued for the account of Techgen&#x2019;s sponsors in proportion to their respective participations in Techgen. Accordingly, the Company and its Swiss subsidiary, Tenaris Investments Switzerland AG, applied for stand-by letters of credit covering <div style="display: inline; font-style: italic; font: inherit;">22%</div> of the debt service coverage ratio, which as of the date hereof amounts to <div style="display: inline; font-style: italic; font: inherit;">$9.8</div> million.</div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for interests in other entities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 1<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_1&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>180
<FILENAME>R135.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6812869968">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Other Liabilities - Post-employment Benefits (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentPostemploymentBenefits', window );">Post-employment benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 144,993<span></span>
</td>
<td class="nump">$ 115,087<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">91,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,616<span></span>
</td>
<td class="nump">2,914<span></span>
</td>
<td class="nump">$ 20,534<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">99,000<span></span>
</td>
<td class="nump">91,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember', window );">Unfunded post-employment benefits [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentPostemploymentBenefits', window );">Post-employment benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">125,573<span></span>
</td>
<td class="nump">97,318<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">97,318<span></span>
</td>
<td class="nump">101,889<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,567)<span></span>
</td>
<td class="num">(3,849)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Current service cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,978<span></span>
</td>
<td class="nump">7,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,526<span></span>
</td>
<td class="nump">5,070<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Remeasurements</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">7,010<span></span>
</td>
<td class="num">(3,946)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">15,660<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid from the plan</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,328)<span></span>
</td>
<td class="num">(9,719)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,976<span></span>
</td>
<td class="nump">473<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">125,573<span></span>
</td>
<td class="nump">97,318<span></span>
</td>
<td class="nump">101,889<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember', window );">Funded post-employment benefits [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_NoncurrentPostemploymentBenefits', window );">Post-employment benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,420<span></span>
</td>
<td class="nump">17,769<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Values at the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">146,885<span></span>
</td>
<td class="nump">165,485<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,542<span></span>
</td>
<td class="num">(8,182)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Current service cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">721<span></span>
</td>
<td class="nump">1,328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,754<span></span>
</td>
<td class="nump">5,691<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Remeasurements</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">12,769<span></span>
</td>
<td class="num">(7,984)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid from the plan</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(10,259)<span></span>
</td>
<td class="num">(9,453)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">160,412<span></span>
</td>
<td class="nump">146,885<span></span>
</td>
<td class="nump">$ 165,485<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Present value of funded obligations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">160,412<span></span>
</td>
<td class="nump">146,885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PlanAssetsAtFairValue', window );">Fair value of plan assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(145,160)<span></span>
</td>
<td class="num">(132,438)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SurplusDeficitInPlan', window );">Liability</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">$ 15,252<span></span>
</td>
<td class="nump">$ 14,447<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">For 2019 a loss of $1.3 million is attributable to demographic assumptions and a loss of $5.7 million to financial assumptions. For 2018 a gain of $0.2 million is attributable to demographic assumptions and a gain of $3.7 million to financial assumptions.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">For 2019 a loss of $0.4 million is attributable to demographic assumptions and a loss of $12.4 million to financial assumptions. For 2018 a loss of $0.4 million is attributable to demographic assumptions and a gain of $8.4 million to financial assumptions. respectively.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">In 2019 and 2018, $4.2 million and $3.3 million corresponding to a plan with a surplus balance were reclassified within other non-current assets, respectively.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from employee service in the current period. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitObligationAtPresentValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The present value, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods. [Refer: Plan assets, at fair value]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 57<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitObligationAtPresentValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from the remeasurement of that net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from business combinations and disposals. [Refer: Business combinations [member]; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_h&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes in foreign exchange rates. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from the passage of time. [Refer: Interest expense; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from payments from the plan. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 141<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_141_g&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PlanAssetsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of defined benefit plan assets. Plan assets comprise assets held by a long-term employee benefit fund and qualifying insurance policies. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 57<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PlanAssetsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SurplusDeficitInPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of any plan assets, less the present value of the defined benefit obligation. [Refer: Plan assets [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2019-01-01<br> -Paragraph 57<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SurplusDeficitInPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_NoncurrentPostemploymentBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current post-employment benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_NoncurrentPostemploymentBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_UnfundedPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=ts_FundedPostemploymentBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>181
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6790232736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 16 - Current Tax Assets and Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory', window );">Disclosure of tax receivables and payables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">16</div></div></td> <td><div style="display: inline; font-weight: bold;">Current tax assets and liabilities</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Current tax assets</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">V.A.T. credits</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112,161</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">67,322</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Prepaid taxes</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">55,227</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,010</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">167,388</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">121,332</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Current tax liabilities</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Income tax liabilities</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">64,994</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">182,711</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">V.A.T. liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,953</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,091</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other taxes</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">52,678</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,431</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">127,625</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">250,233</div></td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of tax receivables and payables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>182
<FILENAME>R131.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6793948048">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 20 - Deferred Income Tax - Recovery Analysis of Deferred Tax Assets and Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets to be recovered after 12 months</a></td>
<td class="num">$ (225,680)<span></span>
</td>
<td class="num">$ (181,606)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities to be settled after 12 months</a></td>
<td class="nump">336,982<span></span>
</td>
<td class="nump">379,039<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember', window );">Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets to be recovered after 12 months</a></td>
<td class="num">(538,274)<span></span>
</td>
<td class="num">(452,330)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities to be settled after 12 months</a></td>
<td class="nump">$ 766,852<span></span>
</td>
<td class="nump">$ 739,670<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2019-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>183
<FILENAME>R139.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6791722656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 22 - Non-current Allowances and Provisions - Deducted From Non-current Receivables (Details) - Non-current allowance for receivables [member] - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the beginning of the year</a></td>
<td class="text"> <span></span>
</td>
<td class="num">$ (641)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">110<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Used</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">531<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Values at the end of the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from foreign currency exchange rate changes on provisions measured in a currency different from the entity's presentation currency. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionUsedOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount used (ie incurred and charged against the provision) for other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2019-01-01<br> -Paragraph 84<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_84_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionUsedOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ts_NoncurrentAllowanceForReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ts_NoncurrentAllowanceForReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>184
<FILENAME>R112.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6808644352">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Investments in Non-consolidated Companies - Summary of Investments in Non-consolidated Companies (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 805,568<span></span>
</td>
<td class="nump">$ 640,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies', window );">Translation differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(10,781)<span></span>
</td>
<td class="nump">1,848<span></span>
</td>
<td class="num">$ (9,548)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies', window );">Equity in earnings of non-consolidated companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">82,036<span></span>
</td>
<td class="nump">193,994<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations', window );">Increase due to business combinations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20,635<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_DividendsDeclaredByNonconsolidatedCompanies', window );">Dividends and distributions received (*)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(28,037)<span></span>
</td>
<td class="num">(26,581)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,610<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax', window );">Decrease / increase in equity reserves and others</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,066)<span></span>
</td>
<td class="num">(3,987)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 879,965<span></span>
</td>
<td class="nump">$ 805,568<span></span>
</td>
<td class="nump">$ 640,294<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Since 2018 Tenaris recognizes its share over the effects on the adoption of IAS 29, "Financial Reporting in Hyperinflationary Economies" by Ternium in other comprehensive income as a currency translation adjustment.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Related to Ternium and Usiminas. During 2019, $29.0 million were collected.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2019-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_DividendsDeclaredByNonconsolidatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of divdends declared by nonconsolidated companies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_DividendsDeclaredByNonconsolidatedCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income (loss) from equity method investments in non-consolidated companies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_IncomeLossFromEquityMethodInvestmentsInNonconsolidatedCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of additions during the period in investments in subsidiaries, joint ventures and associates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesAdditions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the increase in investments in subsidiaries, joint ventures and associates during the period due to business combinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_InvestmentsInSubsidiariesJointVenturesAndAssociatesIncreaseDueToBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income (loss), before tax, attributable to non-consolidated companies related to exchange differences when financial statements of foreign operations are translated</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_OtherComprehensiveIncomeLossBeforeTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the other comprehensive income of associates and joint ventures accounted for using the equity method, including dividends declared, net of tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodIncludingDividendsDeclaredNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>185
<FILENAME>R116.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6791433696">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 14 - Inventories, Net - Components of Inventories (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Jan. 01, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Jan. 01, 2018</div></th>
<th class="th"><div>Jan. 01, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinishedGoods', window );">Finished goods</a></td>
<td class="nump">$ 968,329<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,025,999<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WorkInProgress', window );">Goods in process</a></td>
<td class="nump">612,888<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">709,497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RawMaterials', window );">Raw materials</a></td>
<td class="nump">221,954<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">256,816<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProductionSupplies', window );">Supplies</a></td>
<td class="nump">486,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">504,286<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInventoriesInTransit', window );">Goods in transit</a></td>
<td class="nump">194,015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">237,539<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_InventoriesGross', window );">Inventories, Gross</a></td>
<td class="nump">2,483,597<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,734,137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ts_InventoriesAllowanceForObsolescence', window );">Allowance for obsolescence (see Note 23 (i))</a></td>
<td class="num">(217,717)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(209,796)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Total current inventories</a></td>
<td class="nump">$ 2,265,880<span></span>
</td>
<td class="nump">$ 2,524,341<span></span>
</td>
<td class="nump">$ 2,524,341<span></span>
</td>
<td class="nump">$ 2,368,304<span></span>
</td>
<td class="nump">$ 1,563,889<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInventoriesInTransit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of inventories in transit. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInventoriesInTransit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinishedGoods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of goods that have completed the production process and are held for sale in the ordinary course of business. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinishedGoods</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Paragraph 36<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 54<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProductionSupplies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of supplies to be used for the production process. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductionSupplies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RawMaterials">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of assets to be consumed in the production process or in the rendering of services. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RawMaterials</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WorkInProgress">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of assets currently in production, which require further processes to be converted into finished goods or services. [Refer: Current finished goods; Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2019-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2019-03-27<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2019-01-01<br> -Paragraph 78<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2019-en-r&amp;anchor=para_78_c&amp;doctype=Standard<br> -URIDate 2019-03-27<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WorkInProgress</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_InventoriesAllowanceForObsolescence">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the allowance for obsolescence for inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_InventoriesAllowanceForObsolescence</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_InventoriesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of inventories before allowance for obsolescence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_InventoriesGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ts_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ts_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ts_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
